Bayport Marina Association Inc
- Assets
- $5.8m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Bayport, MN
- Founding
- Data as of
- 10/2023
- EIN
- 41-1631242
Organization Overview
Bayport Marina Association Inc is located in Bayport, MN. Bayport Marina Association Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 10/2023, Bayport Marina Association Inc generated $2.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $2.9m during the year ending 10/2023. While expenses have increased by 4.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BAYPORT MARINA STRIVES TO BE THE BEST QUALITY MARINA IN THE MIDWEST BY PROVIDING THE FINEST FULL-SERVICE FACILITIES AND PROFESSIONAL AND COURTEOUS SERVICE TO OUR MEMBERSHIP AND CUSTOMERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE THE BEST QUALITY MARINA IN THE MIDWEST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Peterka Chair | Trustee | 3 | $0 |
Don Grimm Chair | OfficerTrustee | 3 | $0 |
John Gagich Vice Commodore | Trustee | 3 | $0 |
Meredeth Pedersen Commodore | OfficerTrustee | 3 | $0 |
Jim Geisler Chair | Trustee | 3 | $0 |
Rachel Harvey Chair | Trustee | 3 | $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 | $2,886,201 |
| Investment income | $5,567 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,940,198 |
| 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. | $122,967 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $794,756 |
| Pension plan accruals and contributions | $25,105 |
| Other employee benefits | $55,585 |
| Payroll taxes | $79,333 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,150 |
| Fees for services: Accounting | $8,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,166 |
| Advertising and promotion | $8,330 |
| Office expenses | $46,005 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,012 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,424 |
| Interest | $4,550 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $140,967 |
| Insurance | $108,170 |
| All other expenses | $396,257 |
| Total functional expenses | $2,892,985 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $521,483 |
| Savings and temporary cash investments | $410,364 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $213,326 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $154,680 |
| Prepaid expenses and deferred charges | $46,782 |
| Net Land, buildings, and equipment | $4,449,699 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,796,334 |
| Accounts payable and accrued expenses | $108,023 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $36,762 |
| Other liabilities | $27,859 |
| Total liabilities | $172,644 |
| Net assets without donor restrictions | $5,623,690 |
| 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 | $5,796,334 |