Fairfax Yacht Club Inc
- Assets
- $2.1m
- Revenue
- $252.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Mason Neck, VA
- Founding
- Data as of
- 12/2023
- EIN
- 54-1249543
Organization Overview
Fairfax Yacht Club Inc is located in Mason Neck, VA. Fairfax Yacht 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 12/2023, Fairfax Yacht Club Inc generated $252.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $234.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (8.3%) per year over the past 8 years. 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
TO PROVIDE AND MAINTAIN YACHT CLUB AND BOATING FACILITIES TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED AND MAINTAINED CONDOMINUM YACHT CLUB AND BOATING FACILITIES TO MEMBERS FOR THEIR PLEASURE AND RECREATION AS WELL AS ENCOURAGED YACHTING AND THE CULTIVATION OF NAVAL SCIENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Mansour Commodore | OfficerTrustee | 10 | $0 |
Marc Khoury Treasurer | OfficerTrustee | 10 | $0 |
Kelly Deuterman Secretary | OfficerTrustee | 10 | $0 |
Wes Medley Vice Commodore - Sail | OfficerTrustee | 10 | $0 |
Marty Martin Vice Commodore - Power | OfficerTrustee | 10 | $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 | $215,746 |
| Investment income | $29,946 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $252,774 |
| 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 | $48,444 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,938 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $100 |
| Fees for services: Accounting | $6,797 |
| 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 | $8,827 |
| Information technology | $5,896 |
| Royalties | $0 |
| Occupancy | $7,980 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,992 |
| Insurance | $31,109 |
| All other expenses | $0 |
| Total functional expenses | $234,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,204,091 |
| 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 | $890,273 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,094,364 |
| Accounts payable and accrued expenses | $4,592 |
| Grants payable | $0 |
| Deferred revenue | $686,620 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,128 |
| Total liabilities | $698,340 |
| Net assets without donor restrictions | $1,393,643 |
| Net assets with donor restrictions | $2,381 |
| 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 | $2,094,364 |