Biscayne Bay Yacht Club
- Assets
- $9.7m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 20
- Location
- Miami, FL
- Founding
- 11/1950
- Data as of
- 04/2023
- EIN
- 59-0165090
Organization Overview
Biscayne Bay Yacht Club is located in Miami, FL. The organization was established in 1950. 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 04/2023, Biscayne Bay Yacht Club employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Biscayne Bay Yacht Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 04/2023, Biscayne Bay Yacht Club generated $2.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $2.4m during the year ending 04/2023. While expenses have increased by 6.7% 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
ENCOURAGEMENT,IMPROVEMENT AND ENJOYMENT OF SAILING & ENJOYMENT OF SOCIAL CONTACT & ENTERTAINMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDES FOOD, BEVERAGE, AND DOCK FACILITIES AND SERVICES TO APPROXIMATELY 360 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Nehms Commodore | OfficerTrustee | 10 | $0 |
Wirth T Munroe Vice Commodore | OfficerTrustee | 10 | $0 |
John M Pennekamp Secretary | OfficerTrustee | 10 | $0 |
Tait C Keon Treasurer | OfficerTrustee | 12 | $0 |
David Bianchi Rear Commodore | OfficerTrustee | 10 | $0 |
Walter Orth Director | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dock And Marine Construction Corp Dock Construction | 4/29/23 | $217,134 |
Gmba Inc Business Services | 4/29/23 | $160,733 |
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 | $1,996,060 |
| Investment income | $123,045 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$38,594 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $734,373 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,840,719 |
| 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. | $158,592 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $618,032 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $89,285 |
| Payroll taxes | $59,704 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $114,052 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $131,084 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $391,975 |
| 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 | $219,397 |
| Insurance | $191,841 |
| All other expenses | $0 |
| Total functional expenses | $2,442,970 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $755,842 |
| Savings and temporary cash investments | $5,095 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $231,311 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $76,050 |
| Prepaid expenses and deferred charges | $67,515 |
| Net Land, buildings, and equipment | $4,595,250 |
| Investments—publicly traded securities | $3,929,931 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,375 |
| Total assets | $9,666,369 |
| Accounts payable and accrued expenses | $151,022 |
| Grants payable | $0 |
| Deferred revenue | $1,049,247 |
| 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 | $1,200,269 |
| Net assets without donor restrictions | $8,466,100 |
| 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 | $9,666,369 |