Severn Sailing Association Inc
- Assets
- $3.4m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 37
- Location
- Annapolis, MD
- Founding
- 07/1971
- Data as of
- 09/2023
- 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 09/2023, Severn Sailing Association Inc employed 37 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 09/2023, Severn Sailing Association Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $895.2k during the year ending 09/2023. While expenses have increased by 1.6% per year over the past 8 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
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
N/A
N/A
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Kraft Commodore | Officer | 2 | $0 |
Lisa Pline Vice Commodore | Officer | 2 | $0 |
Tom Shaw Fleet Captain | Officer | 2 | $0 |
Mike Colbert Secretary | Officer | 2 | $0 |
Lionel Phillips Treasurer | Officer | 2 | $0 |
John White Member At Large | 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 | $1,094,032 |
| Investment income | $19,512 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,823 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,119,367 |
| 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 | $328,221 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,946 |
| Payroll taxes | $27,520 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,282 |
| Advertising and promotion | $1,630 |
| Office expenses | $2,014 |
| Information technology | $4,645 |
| 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 | $26,263 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $98,754 |
| Insurance | $61,667 |
| All other expenses | $101,670 |
| Total functional expenses | $895,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,693 |
| Savings and temporary cash investments | $1,624,347 |
| 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 | $1,558,718 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $21,789 |
| Other assets | $141,664 |
| Total assets | $3,411,211 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $29,365 |
| 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 | $992,075 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,281 |
| Total liabilities | $1,029,721 |
| 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 | $2,381,490 |
| Total liabilities and net assets/fund balances | $3,411,211 |