Warwick Yacht & Country Club Inc
- Assets
- $977.0k
- Revenue
- $734.4k
- Investments
- $0.0
- Employees
- 24
- Location
- Newport News, VA
- Founding
- 12/1960
- Data as of
- 03/2023
- EIN
- 54-0697428
Organization Overview
Warwick Yacht & Country Club Inc is located in Newport News, VA. The organization was established in 1960. 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 03/2023, Warwick Yacht & Country Club Inc employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Warwick Yacht & Country Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 03/2023, Warwick Yacht & Country Club Inc generated $734.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $872.8k during the year ending 03/2023. While expenses have increased by 6.3% 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
ORGANIZED FOR THE EXPRESS PURPOSE OF DEVELOPING, MAINTAINING AND OPERATING A BOAT AND YACHT CLUB AND FOR THE GENERAL PURPOSES OF DEVELOPING RECREATIONAL FACILITIES FOR THE MEMBERS AND OTHER NON-PROFIT PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BOAT SLIP RENTALS TO MEMBERS
SWIMMING POOL PROVIDED FOR MEMBERS AND SPONSOR SWIM TEAM FOR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neil Martin Rear Commodore | Trustee | 2 | $0 |
Stewart Brenegar Director | Trustee | 2 | $0 |
Lisa Candella Treasurer | OfficerTrustee | 20 | $0 |
Danny Dangerfield Commodore | OfficerTrustee | 20 | $0 |
Rob Lefkowicz Vice Commodore | OfficerTrustee | 2 | $0 |
Dominic Velardi Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $403,766 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $410,766 |
| Total Program Service Revenue | $196,093 |
| Investment income | $40 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,550 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $18,191 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $78,271 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $734,359 |
| 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 | $351,328 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $45,260 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,560 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,620 |
| Advertising and promotion | $1,132 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $263,113 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21,728 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,167 |
| Insurance | $50,349 |
| All other expenses | $9,874 |
| Total functional expenses | $872,760 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $260,357 |
| Savings and temporary cash investments | $347,300 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,836 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $14,720 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $338,137 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,688 |
| Other assets | $0 |
| Total assets | $977,038 |
| Accounts payable and accrued expenses | $13,281 |
| 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 | $523,441 |
| Unsecured mortgages and notes payable | $495,300 |
| Other liabilities | $18,381 |
| Total liabilities | $1,050,403 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $139,100 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$212,465 |
| Total liabilities and net assets/fund balances | $977,038 |