The Florida Yacht Club
- Assets
- $9.3m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 191
- Location
- Jacksonville, FL
- Founding
- 02/1942
- Data as of
- 12/2021
- 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 12/2021, Florida Yacht Club employed 191 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 12/2021, Florida Yacht Club generated $6.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $5.8m during the year ending 12/2021. While expenses have increased by 1.9% 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
2021
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Louis Ballentyne Tennis Director | 45 | $283,272 | |
Carol Edell General Manager | Officer | 45 | $175,379 |
Stephen Bechan Executive Chef | 45 | $122,201 | |
William W Allen Commmodore | OfficerTrustee | 2 | $0 |
Timothy V Monahan Vice Commodore | OfficerTrustee | 2 | $0 |
Margaret Barnett Emmet Rear Commodore | OfficerTrustee | 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 | $4,442,471 |
| Investment income | $185 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$498 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,257,849 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,017,696 |
| 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. | $184,958 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,843,693 |
| Pension plan accruals and contributions | $21,010 |
| Other employee benefits | $247,833 |
| Payroll taxes | $201,850 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,800 |
| 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 | $4,185 |
| Office expenses | $68,391 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $636,259 |
| Travel | $5,427 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,460 |
| Interest | $99,465 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $565,846 |
| Insurance | $149,847 |
| All other expenses | $125,845 |
| Total functional expenses | $5,757,524 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,335,008 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $604,004 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $80,898 |
| Prepaid expenses and deferred charges | $171,334 |
| Net Land, buildings, and equipment | $7,128,533 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $15,153 |
| Other assets | $0 |
| Total assets | $9,334,930 |
| Accounts payable and accrued expenses | $296,277 |
| Grants payable | $0 |
| Deferred revenue | $237,746 |
| 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 | $2,471,036 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,005,059 |
| Net assets without donor restrictions | $6,329,871 |
| 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 | $9,334,930 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ansley Golf Club Atlanta, GA | $48,365,690 | $21,052,650 |
Royal Palm Yacht & Country Club Boca Raton, FL | $46,256,364 | $15,345,430 |
Palm Beach Country Club Palm Beach, FL | $28,111,995 | $21,230,123 |
The Club At Pelican Bay Inc Naples, FL | $49,551,991 | $15,480,224 |
United States Specialty Sports Association Inc Melbourne, FL | $30,501,525 | $19,243,372 |
Alpha Delta Pi Sorority Atlanta, GA | $18,755,038 | $19,005,623 |
Quail Ridge Country Club Inc Boynton Beach, FL | $44,841,038 | $11,345,026 |
Quail Creek Country Club Inc Naples, FL | $44,189,570 | $16,205,695 |
Lagorce Country Club Miami Beach, FL | $36,015,198 | $11,628,028 |
Amateur Athletic Union Of The United States Inc Lake Buena Vista, FL | $14,686,196 | $10,174,860 |
Harbour Ridge Country Club Palm City, FL | $48,715,310 | $11,636,786 |
Dunwoody Country Club Inc Atlanta, GA | $25,487,572 | $16,307,962 |