Old Dominion Boat Club
- Assets
- $10.5m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 39
- Location
- Alexandria, VA
- Founding
- 08/1972
- Data as of
- 12/2023
- EIN
- 54-0324757
Organization Overview
Old Dominion Boat Club is located in Alexandria, VA. The organization was established in 1972. 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 12/2023, Old Dominion Boat Club employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Dominion Boat Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Old Dominion Boat Club generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (11.2%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2023. 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
PROVIDING MEMBERS WITH ACCESS TO WATERWAYS AND SOCIALIZATION WITH OTHER BOAT OWNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROMOTES CHARTIABLE, COMMUNITY, AND ATHLETIC WATER RELATED ACTIVITIES AND FELLOWSHIP AMONG ITS APPROXIMATELY 700 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janice Hobart Governor | Trustee | 2 | $0 |
Ernie Dauray Governor | Trustee | 2 | $0 |
John Kerr Governor | Trustee | 2 | $0 |
Dee Beresford Governor | Trustee | 2 | $0 |
Bruce Catts Governor | Trustee | 10 | $0 |
Gary Schiffres Governor | Trustee | 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 | $1,261,001 |
| Investment income | $15,071 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $28,557 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $475,266 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,784,673 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,506 |
| 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 | $786,754 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,787 |
| Payroll taxes | $74,731 |
| Fees for services: Management | $45,366 |
| Fees for services: Legal | $8,581 |
| Fees for services: Accounting | $23,034 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $77,909 |
| Advertising and promotion | $0 |
| Office expenses | $164,335 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10,535 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $83,683 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $123,044 |
| Insurance | $14,939 |
| All other expenses | $54,096 |
| Total functional expenses | $1,769,739 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $450,700 |
| Savings and temporary cash investments | $148,911 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | -$2,012 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $18,683 |
| Prepaid expenses and deferred charges | $32,375 |
| Net Land, buildings, and equipment | $9,806,198 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,454,855 |
| Accounts payable and accrued expenses | $64,565 |
| 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 | $2,798,560 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,706 |
| Total liabilities | $2,888,831 |
| Net assets without donor restrictions | $7,566,024 |
| 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 | $10,454,855 |