Eastport Yacht Club Ltd
- Assets
- $9.8m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 87
- Location
- Annapolis, MD
- Founding
- 09/1996
- Data as of
- 12/2022
- EIN
- 52-1198273
Organization Overview
Eastport Yacht Club Ltd is located in Annapolis, MD. The organization was established in 1996. 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 12/2022, Eastport Yacht Club Ltd employed 87 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eastport Yacht Club Ltd is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Eastport Yacht Club Ltd generated $2.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 0.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ENCOURAGE SAILING
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF PLEASURE SAILING. DEVELOP & SUSTAIN INTEREST IN WATERCRAFTS OF ALL TYPES. SPONSOR SAILING EVENTS & FURTHER THE ENJOYMENT OF SAILING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Jones Commodore | OfficerTrustee | 2 | $0 |
Lee Maynard Vice Commodore | OfficerTrustee | 2 | $0 |
Shawn James Rear Commodore | Trustee | 2 | $0 |
Val Pendrick Fleet Capitan | Trustee | 2 | $0 |
Micheal Wood Keeper Of The Log | Trustee | 2 | $0 |
Stephanie Sams Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,434,164 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $461,085 |
| 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 | $1,895,249 |
| Total Program Service Revenue | $717,522 |
| Investment income | $14,965 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,277 |
| Net Income from Fundraising Events | $45,327 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $933 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,693,086 |
| 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. | $112,602 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $208,076 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,930 |
| Payroll taxes | $106,565 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $66,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,706 |
| Advertising and promotion | $0 |
| Office expenses | $100,528 |
| Information technology | $57,241 |
| Royalties | $0 |
| Occupancy | $169,316 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $155,033 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $254,659 |
| Insurance | $92,738 |
| All other expenses | $0 |
| Total functional expenses | $1,778,146 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,722,207 |
| Savings and temporary cash investments | $474,418 |
| Pledges and grants receivable | $461,085 |
| Accounts receivable, net | $79,407 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $72,500 |
| Prepaid expenses and deferred charges | $78,139 |
| Net Land, buildings, and equipment | $6,888,218 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $28,741 |
| Total assets | $9,804,715 |
| Accounts payable and accrued expenses | $249,116 |
| Grants payable | $0 |
| Deferred revenue | $73,843 |
| 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 | $3,516,701 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $474,718 |
| Total liabilities | $4,314,378 |
| Net assets without donor restrictions | $5,490,337 |
| 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 | $9,804,715 |