Savannah Yacht Club Inc
- Assets
- $15.3m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 206
- Location
- Savannah, GA
- Founding
- 04/1963
- Data as of
- 12/2022
- EIN
- 58-0555047
Organization Overview
Savannah Yacht Club Inc is located in Savannah, GA. The organization was established in 1963. 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 12/2022, Savannah Yacht Club Inc employed 206 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Savannah 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 12/2022, Savannah Yacht Club Inc generated $7.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $6.4m during the year ending 12/2022. While expenses have increased by 5.1% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A YACHT CLUB, INCLUDING A RESTAURANT, LOUNGE, DOCK AND SPORTS FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A YACHT CLUB, INCLUDING A RESTAURANT, LOUNGE, DOCK & SPORTS FACILITIES.
OPERATION OF A YACHT CLUB, INCLUDING A RESTAURANT, LOUNGE, DOCK & SPORTS FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Foster Secretary | OfficerTrustee | 1 | $0 |
Toby Moreau Past Commodo | OfficerTrustee | 1 | $0 |
Jim Sheffield Commodore | OfficerTrustee | 1 | $0 |
Loy Allmond Treasurer | OfficerTrustee | 1 | $0 |
Denton Stone Vice Commodo | OfficerTrustee | 1 | $0 |
Richard Coomer Rear Commodo | OfficerTrustee | 1 | $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 | $4,323,668 |
| Investment income | $5,031 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,212 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,691,004 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,020,039 |
| 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. | $213,156 |
| Compensation of current officers, directors, key employees. | $29,842 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,794,411 |
| Pension plan accruals and contributions | $50,218 |
| Other employee benefits | $324,188 |
| Payroll taxes | $222,053 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,570 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,570 |
| Advertising and promotion | $86,263 |
| Office expenses | $53,648 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $491,298 |
| 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 | $758,277 |
| Insurance | $390,242 |
| All other expenses | $205,574 |
| Total functional expenses | $6,398,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $312,588 |
| Savings and temporary cash investments | $4,390,118 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $860,991 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $175,917 |
| Prepaid expenses and deferred charges | $115,517 |
| Net Land, buildings, and equipment | $8,926,286 |
| Investments—publicly traded securities | $33,186 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,354 |
| Other assets | $441,675 |
| Total assets | $15,260,632 |
| Accounts payable and accrued expenses | $509,334 |
| Grants payable | $0 |
| Deferred revenue | $567,458 |
| 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 | $1,076,792 |
| Net assets without donor restrictions | $14,183,840 |
| 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 | $15,260,632 |