Milwaukee Yacht Club
- Assets
- $3.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 77
- Location
- Milwaukee, WI
- Founding
- 09/1942
- Data as of
- 12/2022
- EIN
- 39-0478680
Organization Overview
Milwaukee Yacht Club is located in Milwaukee, WI. The organization was established in 1942. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Milwaukee Yacht Club employed 77 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milwaukee 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 12/2022, Milwaukee Yacht Club generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO COOPERATE WITH THE UNITED STATES NAVY AND THE UNITED STATES COAST GUARD; TO DEVELOP AND ENCOURAGE SAIL AND POWER BOATING AND YACHT BUILDING, AND THE KNOWLEDGE OF NAVAL ARCHITECTURE; TO ACQUIRE, CULTIVATE, AND DISSEMINATE NAVAL SCIENCE AND NAUTICAL KNOWLEDGE, CUSTOMS AND BELIEFS; TO STUDY, TEACH AND INDULGE IN SAILING, POWER BOATING, SWIMMING AND ALL OTHER OUTDOOR OR INDOOR SPORTS AND RECREATION WHICH TEND TO PROMOTE SPORTSMANSHIP, CLOSER FELLOWSHIP AND SOCIAL INTERCOURSE AMONG ITS MEMBERS; AND TO ACQUIRE, HOLD AND OWN SUCH REAL AND PERSONAL PROPERTY AS MAY BE DEEMED NECESSARY OR USEFUL FOR THE FURTHERANCE OF ITS BUSINESS AND PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDES SAILING, BOATING, AND OTHER FORMS OF RECREATION TO ITS MEMBERS. THE CLUB ALSO OFFERS ITS MEMBERS DINING AND SOCIAL ACTIVITIES. THE CLUB HAS A FULL-TIME STAFF TO OFFER A WIDE VARIETY OF DOCK SERVICES INCLUDING SUMMER AND WINTER STORAGE. THE CLUB ALSO MAINTAINS A JUNIOR PROGRAM FOR BOATERS, WHICH ENTAILS SAILING AND RACING LESSONS FOR BEGINNERS AND INTERMEDIATE BOATERS. THE CLUB ALSO ORGANIZES VARIOUS REGATTAS THROUGHOUT THE YEAR TO FURTHER ENHANCE THE YACHTING EXPERIENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angie Doggett Commodore | OfficerTrustee | 5 | $711 |
Derek Pleasants Vice Commodore - Part Year | OfficerTrustee | 5 | $0 |
Brian Cota Rear Commodore | OfficerTrustee | 5 | $3,437 |
Tim Dittloff Secretary | OfficerTrustee | 5 | $0 |
William Baxter Treasurer | OfficerTrustee | 5 | $0 |
Curtis Glassen Director | Trustee | 5 | $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 | $18,303 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,303 |
| Total Program Service Revenue | $1,825,308 |
| Investment income | $1,668 |
| 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 | -$134,285 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,754,339 |
| 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. | $127,847 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $460,114 |
| Pension plan accruals and contributions | $13,079 |
| Other employee benefits | $50,248 |
| Payroll taxes | $43,109 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,440 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,826 |
| Advertising and promotion | $0 |
| Office expenses | $14,617 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $295,790 |
| Travel | $714 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $157 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $170,898 |
| Insurance | $82,598 |
| All other expenses | $137,742 |
| Total functional expenses | $2,109,918 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $161,363 |
| Savings and temporary cash investments | $556,669 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $88,633 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $74,068 |
| Prepaid expenses and deferred charges | $20,729 |
| Net Land, buildings, and equipment | $784,451 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $11,950 |
| Other assets | $1,752,029 |
| Total assets | $3,449,892 |
| Accounts payable and accrued expenses | $289,946 |
| Grants payable | $0 |
| Deferred revenue | $198,796 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,770,933 |
| Total liabilities | $2,259,675 |
| Net assets without donor restrictions | $1,190,217 |
| 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 | $3,449,892 |