Severn Sailing Association Inc
- Assets
- $2.4m
- Revenue
- $881.9k
- Investments
- $0.0
- Employees
- 16
- Location
- Annapolis, MD
- Founding
- 07/1971
- Data as of
- 09/2021
- EIN
- 52-0739274
Organization Overview
Severn Sailing Association Inc is located in Annapolis, MD. The organization was established in 1971. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 09/2021, Severn Sailing Association Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Severn Sailing 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 09/2021, Severn Sailing Association Inc generated $881.9k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $728.9k during the year ending 09/2021. 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
NON-PROFIT OPERATION OF YACHT AND SAILING CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A YACHT AND SAILING CLUB
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Colbert Secretary | Officer | 2 | $0 |
Bruce Empey Rear Commodo | Officer | 2 | $0 |
Eric Johnson Commodore | Officer | 2 | $0 |
Bill Kraft Member At La | Officer | 2 | $0 |
Robin Richards Vice Commodo | Officer | 2 | $0 |
Tom Shaw Fleet Captai | Officer | 2 | $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 | $857,917 |
| Investment income | $5 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,271 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $881,945 |
| 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 | $203,570 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,329 |
| Payroll taxes | $21,885 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,040 |
| Advertising and promotion | $934 |
| Office expenses | $8,606 |
| Information technology | $0 |
| 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 | $16,469 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $109,305 |
| Insurance | $62,521 |
| All other expenses | $54,682 |
| Total functional expenses | $728,949 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $344,432 |
| Savings and temporary cash investments | $583,484 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,441,783 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,369,699 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $14,365 |
| 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 | $427,068 |
| Total liabilities | $441,433 |
| 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 | $1,928,266 |
| Total liabilities and net assets/fund balances | $2,369,699 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Severn Sailing Association Inc has recieved totaling $6,938.
| Awarding Organization | Amount |
|---|---|
Anne Arundel Economic Development Corporation Annapolis, MD PURPOSE: COVID RELIEF - CUSTOMER & EMPLOYEE PROTECTION (CEP) | $6,938 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nova Of Virginia Aquatics Inc Richmond, VA | $8,429,552 | $3,737,460 |
Occoquan Swimming Inc Manassas, VA | $416,953 | $2,263,892 |
American Canoe Association Fredericksburg, VA | $2,935,103 | $2,005,196 |
Old Dominion Boat Club Alexandria, VA | $11,245,214 | $1,105,837 |
Tide Swimming Virginia Beach, VA | $1,525,215 | $1,751,645 |
North Baltimore Aquatic Club Inc Towson, MD | $609,098 | $1,206,837 |
The Fish Swimteam Inc Fairfax, VA | $418,358 | $867,783 |
Highlands Swim And Tennis Club Inc Mclean, VA | $2,158,004 | $1,103,225 |
Usa Swimming Inc Appomattox, VA | $921,136 | $1,203,031 |
Forest Hill Swim Club Inc Ellicott City, MD | $874,185 | $822,025 |
Usa Swimming Inc Blue Bell, PA | $1,171,270 | $977,140 |
Scranton Canoe Club Lake Winola, PA | $1,120,318 | $1,020,195 |