Marshfield Yacht Club Inc
- Assets
- $826.4k
- Revenue
- $358.6k
- Investments
- $0.0
- Employees
- 9
- Location
- Marshfield, MA
- Founding
- 08/1975
- Data as of
- 10/2022
- EIN
- 51-0153599
Organization Overview
Marshfield Yacht Club Inc is located in Marshfield, MA. The organization was established in 1975. 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 10/2022, Marshfield Yacht Club Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marshfield Yacht Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 10/2022, Marshfield Yacht Club Inc generated $358.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $202.5k during the year ending 10/2022. While expenses have increased by 0.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ESTABLISHED IN 1954, THE MARSHFIELD YACHT CLUB WAS CREATED WITH THE MISSION TO JOIN TOGETHER AS NON-PROFIT ASSOCIATION TO MANAGE, RUN, AND OPERATE A YACHT CLUB FOR THE PURPOSE OF BOATING, SAILING, AND ENTERTAINING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGE, RUN, AND OPERATE A YACHT CLUB FOR THE PURPOSE OF BOATING, SAILING, AND ENTERTAINING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Connolly Rear Commodore | OfficerTrustee | 1 | $0 |
Jacqueline Barry Steward | OfficerTrustee | 1 | $0 |
Susan Cheverie Vice Commodore | OfficerTrustee | 1 | $0 |
Steve Robbins Treasurer | OfficerTrustee | 1 | $0 |
Mike Twomey Past Commodore | OfficerTrustee | 1 | $0 |
Donald Ussher Fleet Captain | OfficerTrustee | 1 | $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 | $211,780 |
| Investment income | $808 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,665 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,773 |
| Net Income from Gaming Activities | $10,256 |
| Net Income from Sales of Inventory | $126,191 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $358,629 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,400 |
| Grants and other assistance to domestic individuals. | $3,400 |
| 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 | $25,980 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,664 |
| Fees for services: Management | $3,095 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,758 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,519 |
| Advertising and promotion | $0 |
| Office expenses | $9,376 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $88,037 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $525 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,914 |
| Insurance | $18,033 |
| All other expenses | $0 |
| Total functional expenses | $202,469 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $145,996 |
| Savings and temporary cash investments | $304,327 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,231 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $363,875 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $826,429 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $100 |
| 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 | $104,850 |
| Total liabilities | $104,950 |
| Net assets without donor restrictions | $721,479 |
| 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 | $826,429 |
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