Okoboji Yacht Club Sailing School Inc 082897
- Assets
- $5.8m
- Revenue
- $529.7k
- Investments
- $0.0
- Employees
- 16
- Location
- Milford, IA
- Founding
- 10/1998
- Data as of
- 12/2023
- EIN
- 42-1467238
Organization Overview
Okoboji Yacht Club Sailing School Inc 082897 is located in Milford, IA. The organization was established in 1998. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2023, Okoboji Yacht Club Sailing School Inc 082897 employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Okoboji Yacht Club Sailing School Inc 082897 is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Okoboji Yacht Club Sailing School Inc 082897 generated $529.7k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $502.1k during the year ending 12/2023. While expenses have increased by 3.4% per year over the past 5 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
OKOBOJI YACHT CLUB SALING SCHOOL, INC MISSION IS TO TEACH BOATING AND OTHER SAFE WATER PROCEDURES TO INDIVIDUALS IN THE GENERAL AREA OF LAKE OKOBOJI, IOWA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL OF THE CLASSES CONTINUE TO BE FORMATTED AROUND WEEKLONG CAMPS WHICH ALLOWS US TO KEEP OUR CLASS SCHEDULES SIMPLE AND FLEXIBLE. FOR OUR LEARN-TO-SAIL CLASSES WE OFFER A SERIES OF 8 ONE-WEEK CAMPS THAT ARE TAILORED TO NURTURE OUR YOUNG SAILORS AS THEY EXPERIENCE THE THRILL OF SAILING ON LAKE OKOBOJI.TINY PUFFS CLASS - THIS CLASS WILL INTRODUCE VERY YOUNG CHILDREN TO SAILING. SEVERAL SAILBOATS WILL BE RIGGED ON THE OYC LAWN FOR CHILDREN TO EXPLORE. TOTAL ENROLLMENT NUMBER FOR THE SEASON CAME TO 42.LITTLE PUFFS CAMPS - DESIGNED FOR 6-8 YEAR OLDS AS AN INTRODUCTION TO WATER AND BOATING SAFTETY. FUN, SAFETY, AND CLOSE SUPERVISION ARE THE HALLMARKS OF OUR LITTLE PUFFS CAMPS. TOTAL ENROLLMENT NUMBER FOR THE SEASON CAME TO 183.BEGINNERS CAMPS - THESE CAMPS ARE FOR 8-12 YEAR OLDS AND WILL ALSO FOCUS ON WATER AND BOATING SAFETY. SINGLE-HANDED SAILING SKILLS WILL BE DEVELOPED. WHEN APPROPRIATE, STUDENTS IN THESE CAMPS WILL BE DIVIDED INTO TEACHING GROUPS BASED ON EXPERIENCE LEVEL. TOTAL ENROLLMENT NUMBER FOR THE SEASON CAME TO 165.INTERMEDIATE OPTI FUNDAMENTALS - THIS CAMP IS DESIGNED FOR STUDENTS WHO HAVE PREVIOUSLY EXPERIENCED LITTLE PUFFS OR BEGINNERS CLASSES AND ARE READY TO SINGLE HAND AN OPTIMIST. TOTAL ENROLLMENT NUMBER FOR THE SEASON CAME TO 67.PERFORMANCE SAILING - THIS CAMP WILL INTRODUCE OLDER, MORE EXPERIENCED CHILDREN TO WEST LAKE OKOBIJI AS THEY SAIL TO NEW DESTINATIONS ON THE LASER RADIAL OR THE BIC O'PEN DINGHIES. STUDENTS SELECT THEIR DESITNATIONS AFTER LEARNING HOW TO READ WEATHER FORECASTS, ONLINE MAPS, AND CHARTS. TOTAL ENROLLMENT NUMBER FOR THE SEASON CAME TO 36.ADVENTURE SAILING - THIS UNIQUE PROGRAM IS BASED IN EXPLORATION. IT IS A FUN COMBINATION OF SAILING AND SCIENCE AND HOW DISCOVERY IN BOTH FIELDS CAN WORK TOGETHER IN A STEM BASED PROGRAM. TOTAL ENROLLMENT NUMBER FOR THE SEASON CAME TO 37. OTHER SAILING COURSES: PRIVATE LESSONS, ART WORKSHOPS, ADULT SAILING, OSC TEAM DEVELOPMENT, CREW U. TOTAL ENROLLMENT NUMBER FOR THE SEASON CAME TO 76.
OUR RACING CURRICULUM IS SEGMENTED INTO THE CAMP FORMAT ALSO, WITH EACH SEGMENT FOCUSING ON A SPECIFIC ASPECT OF RACING. OPTIMIST RACING CAMPS - THIS CAMP IS DESIGNED FOR OUR MORE ADVANCED OPTI SAILORS THAT ARE READY TO MOVE INTO A COMPETITIVE SAILING PROGRAM WHILE THEY DEVELOP RACING SKILLS. TOTAL ENROLLMENT NUMBER FOR THE SEASON CAME TO 1.X-BOAT RACING CAMPS - THE X-BOAT RACING PROGRAM IS THE HALLMARK OF THE OKOBOJI SAILING CENTER. THIS PROGRAM IS DESIGNED AS A SERIES TO PROMOTE SUMMER LONG TRAINING FOR OUR MOST ADAVNCED RACE FOCUSED SAILORS. TOTAL ENROLLMENT NUMBER FOR THE SEASON CAME TO 34.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Board Of Directors See Schedule O | Trustee | 1 | $0 |
Steve Powers Director/instructor | Trustee | 10 | $18,000 |
Christine Thoreson Program Director | Trustee | 10 | $40,000 |
Max Homes Director | Trustee | 1 | $5,004 |
Bradley D Farrar Executive Director | Officer | 40 | $50,000 |
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 | $91,011 |
| Noncash contributions included in lines 1a–1f | $12,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $91,011 |
| Total Program Service Revenue | $96,140 |
| Investment income | $52,563 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $254,317 |
| Net Gain/Loss on Asset Sales | $35,082 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $542 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $529,655 |
| 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. | $113,004 |
| Compensation of current officers, directors, key employees. | $32,771 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $38,602 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,208 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,965 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,338 |
| Office expenses | $7,285 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $51,301 |
| Travel | $1,770 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,753 |
| Interest | $21,048 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,141 |
| Insurance | $32,424 |
| All other expenses | $14,780 |
| Total functional expenses | $502,054 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99,357 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $248,192 |
| Accounts receivable, net | $3,236 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,700 |
| Net Land, buildings, and equipment | $2,847,949 |
| Investments—publicly traded securities | $257,872 |
| Investments—other securities | $0 |
| Investments—program-related | $2,331,492 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,798,798 |
| Accounts payable and accrued expenses | $51,796 |
| 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 | $250,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $301,796 |
| Net assets without donor restrictions | $4,486,252 |
| Net assets with donor restrictions | $1,010,750 |
| 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 | $5,798,798 |