Maryland Yacht Club Inc
- Assets
- $1.5m
- Revenue
- $628.6k
- Investments
- $0.0
- Employees
- 11
- Location
- Pasadena, MD
- Founding
- 10/1937
- Data as of
- 12/2021
- EIN
- 52-0405400
Organization Overview
Maryland Yacht Club Inc is located in Pasadena, MD. The organization was established in 1937. 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 12/2021, Maryland Yacht Club Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maryland 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 12/2021, Maryland Yacht Club Inc generated $628.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $692.7k during the year ending 12/2021. 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
OPERATE MARINA FOR MEMBERS OPERATION OF DINING ROOM AND BAR FOR SOCIAL ACTIVITIES OPERATION OF FUEL DOCK FOR MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB OPERATES A MARINA TO PROVIDE BOAT SLIPS AND MOORINGS TO MEMBERS
THE CLUB OPERATES A BAR AND DINING ROOM TO PROVIDE SOCIAL ACTIVITIES TO MEMBERS
THE CLUB OPERATES A FUEL DOCK TO PROVIDE FUEL TO MEMBERS
THE CLUB OPERATES A MARINA TO PROVIDE BOAT SLIPS AND MOORINGS TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Marcic Treasurer | Officer | $0 | |
Carl Treff Commodore | Officer | $0 | |
Barb Franklin Secretary | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $223,059 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,641 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $229,700 |
| Total Program Service Revenue | $252,545 |
| Investment income | $0 |
| 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 | $146,322 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $628,567 |
| 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 | $67,217 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,541 |
| Fees for services: Management | $89,308 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $50,894 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,075 |
| Advertising and promotion | $7,894 |
| Office expenses | $4,251 |
| Information technology | $8,580 |
| 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 | $39,029 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $90,505 |
| Insurance | $32,594 |
| All other expenses | $56,487 |
| Total functional expenses | $692,714 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,602 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $48,159 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,705 |
| Prepaid expenses and deferred charges | $21,180 |
| Net Land, buildings, and equipment | $1,339,516 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $59,750 |
| Other assets | $0 |
| Total assets | $1,524,912 |
| Accounts payable and accrued expenses | $59,471 |
| Grants payable | $0 |
| Deferred revenue | $114,964 |
| 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 | $1,179,856 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $86,881 |
| Total liabilities | $1,441,172 |
| Net assets without donor restrictions | $0 |
| 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 | $83,740 |
| Total liabilities and net assets/fund balances | $1,524,912 |
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