Figure Eight Island Yacht Club Inc

Organization Overview

Figure Eight Island Yacht Club Inc is located in Wilmington, NC. The organization was established in 1985. 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 09/2023, Figure Eight Island Yacht Club Inc employed 125 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Figure Eight Island 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 09/2023, Figure Eight Island Yacht Club Inc generated $5.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $5.8m during the year ending 09/2023. While expenses have increased by 5.8% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

PRIVATE SOCIAL CLUB OPERATING FOR THE RECREATIONAL AND SOCIAL PURPOSES OF ITS MEMBERS

Describe the Organization's Program Activity:

Part 3 - Line 4a

FIGURE EIGHT ISLAND YACHT CLUB IS AN EXEMPT SOCIAL CLUB EXISTING SOLELY FOR THE BENEFIT OF ITS MEMBERS. ALL REVENUE AND EXPENSES ARE USED FOR THAT EXEMPT PURPOSE.


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Board, Officers & Key Employees

Name (title)Compensation
Deborah Long
President
$0
Abney Boxley
VP
$0
Pam Edmonds
Secretary
$0
Phillip Waugh
Treasurer
$0
James Douglas
Director
$0
Valerie Gammage
Director
$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$4,799,442
Investment income $54,093
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $481,713
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 $72,151
Miscellaneous Revenue$0
Total Revenue $5,407,481

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