Nereid Boat Club
- Assets
- $1.3m
- Revenue
- $769.0k
- Investments
- $0.0
- Employees
- 13
- Location
- Rutherford, NJ
- Founding
- 12/2007
- Data as of
- 12/2023
- EIN
- 52-1851558
Organization Overview
Nereid Boat Club is located in Rutherford, NJ. The organization was established in 2007. 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 12/2023, Nereid Boat Club employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nereid Boat Club is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Nereid Boat Club generated $769.0k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $703.8k during the year ending 12/2023. While expenses have increased by 11.7% per year over the past 9 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
PROMOTE AND PARTICIPATE IN THE SPORT OF ROWING, EDUCATE MEMBERS, & IMPROVE RUTHERFORD COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH ROWING PROGRAM: PROMOTE YOUTH ROWING BY REACHING OUT TO LOCAL HIGH SCHOOLS THROUGH LEARN TO ROW PROGRAMS AND ENGAGE YOUTH ROWERS INTO COMPETITIVE ROWING.
MASTERS ROWING: PROMOTE ROWING TO ADULTS AT ALL LEVELS OF FITNESS, BEGINNERS, INTERMEDIATE AND COMPETITIVE ROWING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Briant Canha Member/member Director | Trustee | 3 | $1,925 |
Martin Bouge President And Secretary | OfficerTrustee | 3 | $0 |
Ben Storch Treasurer | OfficerTrustee | 4 | $0 |
Evan Seehaus Lieutenant | Trustee | 3 | $0 |
Frank Schaefer Member/captain | Trustee | 3 | $0 |
Jeff Arnott Member/prog. Director | Trustee | 3 | $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 | $172,662 |
| Noncash contributions included in lines 1a–1f | $6,586 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $172,662 |
| Total Program Service Revenue | $582,414 |
| Investment income | $10,321 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $341 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$1,556 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $768,983 |
| 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. | $1,925 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $243,481 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $25,047 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,551 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,688 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $49,103 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,838 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $117,708 |
| Insurance | $18,596 |
| All other expenses | $0 |
| Total functional expenses | $703,756 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,223 |
| Savings and temporary cash investments | $152,457 |
| 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 | $871,227 |
| Investments—publicly traded securities | $261,946 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,336,853 |
| Accounts payable and accrued expenses | $20,084 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $153,437 |
| Unsecured mortgages and notes payable | $207,314 |
| Other liabilities | $0 |
| Total liabilities | $380,835 |
| Net assets without donor restrictions | $857,805 |
| Net assets with donor restrictions | $98,213 |
| 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 | $1,336,853 |