The Keowee Sailing Club Inc
- Assets
- $868.0k
- Revenue
- $185.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Seneca, SC
- Founding
- 03/1989
- Data as of
- 12/2021
- EIN
- 57-0714091
Organization Overview
The Keowee Sailing Club Inc is located in Seneca, SC. The organization was established in 1989. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Keowee Sailing 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 12/2021, Keowee Sailing Club Inc generated $185.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $160.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FOR THE PURPOSE OF PROMOTING FELLOWSHIP AND GOODWILL THROUGH SAILING, INCLUDING THE ENHANCEMENT OF THE SAILING PROFICIENCY OF MEMBERS THROUGH SHARED EXPERIENCES AS WELL AS ENGAGING IN ORGANIZED COMPETITION AMONG MEMBERS AND OTHER CLUBS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB HAS MAJOR EVENTS ON MEMORIAL DAY, 4TH OF JULY, AND LABOR DAY WEEKENDS WHICH INCLUDE CLUB RACES AND A SATURDAY NIGHT DINNER. ATTENDANCE IS TYPICALLY OVER 100 PER EVENT. IN 2021, DUE TO THE LINGERING COVID-19 VIRUS, MEMORIAL DAY WAS CANCELLED AND 4TH OF JULY AND LABOR DAY EVENTS HAD LOW ATTENDANCE IN AN OPEN AIRED PAVILLION. THE CLUB ALSO HOLDS THE CHANGE OF WATCH TO HONOR THE OUTGOING BOARD AND WELCOME THE NEW BOARD. THIS EVENT TYPICALLY HAS AROUND 75 ATTENDEES. IN 2021, IT WAS CANCELLED. THE CLUB ALSO HAS MANY SMALLER EVENTS INCLUDING WEEKLY POTLUCK SUPPERS. ALL FUNCTIONS FURTHER PROMOTE SAILING AND FELLOWSHIP AMONG MEMBERS. IN 2021, ALL EVENTS WERE OUTDOORS OR IN THE OPEN AIRED PAVILLION.
THE CLUB HOLDS TWO MAJOR REGATTAS EACH YEAR: KEOWEE CUP IN THE SPRING AND TURKEY SHOOT IN THE FALL. THESE TWO DAY EVENTS ARE RACES THAT ATTRACT SAILORS FROM THE MEMBERSHIP AS WELL AS SURROUNDING CLUBS IN 5 OR 6 STATES AND HAVE OVER 15 PARTICIPATING BOATS WITH ABOUT 80 PARTICIPATING SAILORS AND VOLUNTEERS. IN 2021, DUE TO THE LINGERING COVID-19 VIRUS, BOTH REGATTAS HAD MODIFIED ACTIVITIES FOR CLUB MEMBERS ONLY. THERE ARE ALSO 4 RACING SERIES YEAR-ROUND: FRIGHT SERIES (FALL), FROSTBITE SERIES (WINTER), HOT RUDDER BUMS SERIES (SPRING), AND SIMMER SERIES (SUMMER) WHICH INVOLVE APPROXIMATELY 28 BOATS.
THE CLUB PROVIDES DOCK SPACE, INCLUDING 144 SLIPS, YEAR ROUND FOR LEASE TO ITS 225 MEMBERSHIP UNITS. IN ADDITION, THERE ARE APPROXIMATELY 50 DRY STORAGE SPACES FOR SAILBOATS ON TRAILERS AND BEACH SPACES FOR SMALLER SAILBOATS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Halstead Past Commodore | Officer | 1 | $0 |
Tracy Carr Treasurer | Officer | 10 | $0 |
Henry Goodman Vice Commodore | Officer | 5 | $0 |
Phillip Cook Secretary | Officer | 5 | $0 |
Janet Cook Commodore | Officer | 15 | $0 |
Rick Harper Steward | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $114,568 |
| 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 | $114,568 |
| Total Program Service Revenue | $70,519 |
| Investment income | $7 |
| 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 | $20 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $185,189 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $193 |
| Fees for services: Accounting | $630 |
| 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 | $6,296 |
| Information technology | $4,667 |
| Royalties | $0 |
| Occupancy | $41,990 |
| 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 | $31,228 |
| Insurance | $21,077 |
| All other expenses | $3,822 |
| Total functional expenses | $160,868 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $122,740 |
| Savings and temporary cash investments | $40,003 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29 |
| 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 | $705,186 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $867,958 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $867,958 |
| Total liabilities and net assets/fund balances | $867,958 |
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