Clearwater Yacht Club
- Assets
- $2.2m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 61
- Location
- Clearwater, FL
- Founding
- 08/1945
- Data as of
- 12/2022
- EIN
- 59-0197110
Organization Overview
Clearwater Yacht Club is located in Clearwater, FL. The organization was established in 1945. 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, Clearwater Yacht Club employed 61 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clearwater 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 12/2022, Clearwater Yacht Club generated $1.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. While expenses have increased by 7.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE YACHTING AND PROVIDE MEMBERS WITH ASSOCIATED RECREATIONAL PRIVILEGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENCOURAGE YACHTING BY THE PUBLIC; TO PROMOTE AND ASSIST IN MAKING MEMBERS MORE PROFICIENT IN SEAMANSHIP AND NAVIGATION; TO PROVIDE GOOD FOOD, REFRESHMENTS, AND MAINTAIN A SUITABLE CLUBHOUSE, ANCHORAGE, AND FACILITIES FOR THE RECREATION AND USE OF ITS MEMBERS AND THEIR FAMILIES; TO PROMOTE THE SOCIAL WELFARE, ENTERTAINMENT, AND DIVERSION OF ITS MEMBERS, THEIR FAMILIES AND GUESTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curtis Wold Commodore | OfficerTrustee | 1 | $0 |
Rich Libonate Vice Commodore | OfficerTrustee | 1 | $0 |
Joan Carter Rear Commodore | OfficerTrustee | 1 | $0 |
Greg Crist Immediate Past Commodore | OfficerTrustee | 1 | $0 |
Phil Shaw Treasurer | OfficerTrustee | 1 | $0 |
Carey Sauer Secretary (12/3/22-12/31/22) | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Phillips Solutions Llc Electricians | 12/30/22 | $134,636 |
Waterline Commercial Construction Dock Construction | 12/30/22 | $115,364 |
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 | $1,445,680 |
| Investment income | $3,731 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$61,833 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $79,394 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,471,966 |
| 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. | $148,027 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $245,796 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $101,609 |
| Payroll taxes | $102,423 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,818 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,083 |
| Advertising and promotion | $6,650 |
| Office expenses | $203,253 |
| Information technology | $32,104 |
| Royalties | $0 |
| Occupancy | $227,059 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,285 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $79,147 |
| Insurance | $208,792 |
| All other expenses | $8,260 |
| Total functional expenses | $1,474,733 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,247 |
| Savings and temporary cash investments | $715,220 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $336,374 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $79,434 |
| Prepaid expenses and deferred charges | $70,062 |
| Net Land, buildings, and equipment | $984,044 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,220,381 |
| Accounts payable and accrued expenses | $108,066 |
| Grants payable | $0 |
| Deferred revenue | $163,949 |
| 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 | $272,015 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,948,366 |
| 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 | $2,220,381 |