Grosse Ile Yacht Club
- Assets
- $1.1m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 51
- Location
- Grosse Ile, MI
- Founding
- 12/1936
- Data as of
- 12/2021
- EIN
- 38-1302367
Organization Overview
Grosse Ile Yacht Club is located in Grosse Ile, MI. The organization was established in 1936. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Grosse Ile Yacht Club employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grosse Ile Yacht Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Grosse Ile Yacht Club generated $1.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $859.9k during the year ending 12/2021. While expenses have increased by 2.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE ORGANIZATION IS TO FOSTER AND STIMULATE INTEREST IN AND AID THE MEMBERS TO IMPROVE THEIR KNOWLEDGE IN THE ART OF BOATING AND NAVIGATION OF BOATS; TO PROMOTE SOCIALABILITY AMONG THEIR MEMBERS, FAMILIES AND FRIENDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CURRENTLY SERVING 266 MEMBERS
CURRENTLY SERVING 254 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Will Evans Commodore | Officer | $0 | |
Cortney Mccarthy Vice Commodo | Officer | $0 | |
Janet Joyce Secretary | Officer | $0 | |
Mark Sawka Rear Commodo | Officer | $0 | |
Alec Chabalowski Director | Trustee | $0 | |
Chris Hahn Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $858,166 |
| Investment income | $817 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $883 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,005,466 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $99,053 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,305 |
| Payroll taxes | $8,500 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,918 |
| Office expenses | $2,018 |
| Information technology | $11,313 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $18,317 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $62,255 |
| Insurance | $28,306 |
| All other expenses | $26,946 |
| Total functional expenses | $859,879 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $469,884 |
| Savings and temporary cash investments | $12,170 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $77,689 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $22,208 |
| Prepaid expenses and deferred charges | $3,108 |
| Net Land, buildings, and equipment | $483,546 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $7,376 |
| Other assets | $0 |
| Total assets | $1,075,981 |
| Accounts payable and accrued expenses | $20,150 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $482,328 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,772 |
| Total liabilities | $528,250 |
| Net assets without donor restrictions | $547,731 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,075,981 |
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