The Florida Yacht Club
- Assets
- $10.3m
- Revenue
- $7.4m
- Investments
- $0.0
- Employees
- 188
- Location
- Jacksonville, FL
- Founding
- 02/1942
- Data as of
- 12/2022
- EIN
- 59-0248800
Organization Overview
The Florida Yacht Club is located in Jacksonville, FL. The organization was established in 1942. 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, Florida Yacht Club employed 188 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida 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, Florida Yacht Club generated $7.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $6.5m during the year ending 12/2022. While expenses have increased by 3.3% 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 BIND IT'S MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION. THE FLORIDA YACHT CLUB IS A SOCIAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATION ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDED RESTAURANT, TENNIS, AND AQUATIC FACILITIES FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy V Monahan Commodore | OfficerTrustee | 2 | $0 |
Margaret Barnett Emmet Vice Commodore | OfficerTrustee | 2 | $0 |
Christian P George Rear Commodore | OfficerTrustee | 2 | $0 |
L Allen Mcdonough Jr Secretary | OfficerTrustee | 2 | $0 |
Herschel Vinyard Treasurer | OfficerTrustee | 2 | $0 |
Stephen Busey Director | Trustee | 2 | $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 | $5,790,794 |
| Investment income | $3,086 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$169,201 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,360,880 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,411,246 |
| 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. | $311,374 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,002,760 |
| Pension plan accruals and contributions | $24,638 |
| Other employee benefits | $163,680 |
| Payroll taxes | $252,004 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,900 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,299 |
| Office expenses | $135,391 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $650,069 |
| Travel | $172 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,327 |
| Interest | $147,730 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $573,390 |
| Insurance | $195,601 |
| All other expenses | $238,838 |
| Total functional expenses | $6,522,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,063,044 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $709,441 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $111,259 |
| Prepaid expenses and deferred charges | $148,954 |
| Net Land, buildings, and equipment | $6,929,627 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $150,209 |
| Other assets | $212,679 |
| Total assets | $10,325,213 |
| Accounts payable and accrued expenses | $292,526 |
| Grants payable | $0 |
| Deferred revenue | $151,884 |
| 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 | $2,662,312 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,106,722 |
| Net assets without donor restrictions | $7,218,491 |
| 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 | $10,325,213 |