St Petersburg Yacht Club Inc
- Assets
- $21.1m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 214
- Location
- St Petersburg, FL
- Founding
- 07/1942
- Data as of
- 09/2022
- EIN
- 59-0433240
Organization Overview
St Petersburg Yacht Club Inc is located in St Petersburg, 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 09/2022, St Petersburg Yacht Club Inc employed 214 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Petersburg 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 09/2022, St Petersburg Yacht Club Inc generated $9.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $8.1m during the year ending 09/2022. While expenses have increased by 4.6% 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
ENCOURAGE AND SUPPORT YACHTING AND TO PROVIDE A SOCIAL ENVIRONMENT FOR OUR MEMBERS AND GUESTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A SAILING CENTER IS OPERATED BY THE CLUB UNDER AN AGREEMENT WITH THE CITY OF ST. PETERSBURG. DOCK OPERATIONS INCLUDE SLIP RENTALS AND SALE OF FUEL AND OTHER MARINE SUPPLIES TO MEMBERS. THE CLUB CONSISTED OF APPROXIMATELY 2,460 MEMBERS AS OF THE SEPTEMBER 30, 2022.
THE CLUB HOSTED 25 REGATTAS DURING THE YEAR ENDED SEPTEMBER 30, 2022, RANGING IN SIZE FROM LESS THAN 10 TO MORE THAN 300 BOATS, AND FROM LESS THAN 20 TO MORE THAN 800 PARTICIPANTS. THE "TYPICAL" REGATTA WILL RUN 3-6 RACES OVER THE PERIOD OF SEVERAL DAYS. DURING THIS TIME, THE PARTICIPANTS WILL BE TREATED TO NUMEROUS FOOD AND BEVERAGE FUNCTIONS AT THE CLUB, INCLUDING AN AWARDS BANQUET TO CLOSE THE REGATTA.
FOOD, BEVERAGE, AND OTHER ENTERTAINMENT ACTIVITIES ARE PROVIDED TO THE CLUB'S MEMBERS. THE CLUB OPERATES THREE DINING ROOMS, THE HERITAGE LOUNGE, AND A TIKI HUT. SEVERAL BANQUET ROOMS ARE ALSO AVAILABLE FOR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Reydams Former General Manager | 55 | $216,155 | |
Colleen Riley-Finney Director Of Finance | Officer | 55 | $172,199 |
Joseph Van Bemmel Executive Chef | 55 | $130,027 | |
Shawn Macking Waterfront Director | 55 | $109,421 | |
Rhett Robicheaux General Manager | Officer | 55 | $89,143 |
Bill Waters II Director | Trustee | 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 | $8,821,858 |
| Investment income | $11,694 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $40,389 |
| Net Gain/Loss on Asset Sales | $2,435 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $702,530 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,658,680 |
| 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. | $469,760 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,564,730 |
| Pension plan accruals and contributions | $6,538 |
| Other employee benefits | $245,775 |
| Payroll taxes | $194,501 |
| Fees for services: Management | $15,510 |
| Fees for services: Legal | $22,174 |
| Fees for services: Accounting | $25,440 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $674,040 |
| Advertising and promotion | $123,883 |
| Office expenses | $1,242,310 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,306,678 |
| Travel | $10,165 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,526 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,053,371 |
| Insurance | $399,431 |
| All other expenses | $63,038 |
| Total functional expenses | $8,131,417 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,402,121 |
| Savings and temporary cash investments | $6,666,554 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $512,296 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $223,480 |
| Prepaid expenses and deferred charges | $386,078 |
| Net Land, buildings, and equipment | $5,886,016 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,076,545 |
| Accounts payable and accrued expenses | $1,743,373 |
| Grants payable | $0 |
| Deferred revenue | $5,254,291 |
| 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 | $6,997,664 |
| Net assets without donor restrictions | $14,078,881 |
| 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 | $21,076,545 |
Endowment Analysis
| Beg. Balance | $3,911,777 |
| Net Contributions | $1,051,098 |
| Other Expense | $897,762 |
| Ending Balance | $4,065,113 |
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 |