Sarasota Yacht Club
- Assets
- $17.5m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 108
- Location
- Sarasota, FL
- Founding
- 01/1954
- Data as of
- 09/2021
- EIN
- 59-0436199
Organization Overview
Sarasota Yacht Club is located in Sarasota, FL. The organization was established in 1954. 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 09/2021, Sarasota Yacht Club employed 108 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sarasota 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 09/2021, Sarasota Yacht Club generated $5.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $7.2m during the year ending 09/2021. 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
RECREATIONAL ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
SYC BRAND STATEMENTTO PEOPLE WHO ENJOY BEING ON OR AROUND THE WATER AND CONNECTING WITH FRIENDS THAT HAVE SIMILAR INTEREST, SARASOTA YACHT CLUB IS THE PREMIER WORLD-CLASS YACHT CLUB THAT DELIVERS THE YACHTING LIFESTYLE EXPERIENCE INSPIRING LIFELONG FRIENDSHIPS AND EXTRAORDINARY EXPERIENCES IN ANUPSCALE, WATERFRONT LOCATION WITH AWARD WINNING DINING, A CLEAN, FULL-SERVICE MARINA, AND ENGAGING ACTIVITIES IN A FAMILY-FRIENDLY WELCOMING ENVIRONMENT. IN OUR CULTURALLY RICH CITY, ONLY SYC HAS A UNIQUE WATERFRONT LOCATION, DIVERSE ACTIVE MEMBERS, AND PROFESSIONAL STAFF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Harmon Gm/coo | Officer | 40 | $291,893 |
Max Miranda Food & Beverage Director | 40 | $150,268 | |
Anthony Puccio Executive Chef | 40 | $134,139 | |
Stephania Feltz Membership Director | 40 | $120,722 | |
Jennifer Hecheverria Chief Financial Officer | Officer | 40 | $105,261 |
Brian Will Commodore | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dooley Mack Constructors Of Fl Inc General Contractor | 9/29/20 | $635,012 |
Sysco Food Service Food Purchases | 9/29/20 | $341,481 |
Lynch Oil Company Inc Fuel Purchases | 9/29/20 | $169,851 |
Cheney Brothers Food Purchases | 9/29/20 | $249,498 |
Bradenton Fuel Oil Inc Fuel Purchases | 9/29/20 | $124,168 |
Sysco Food Service Food Purchases | 9/29/20 | $341,481 |
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 | $4,025,959 |
| Investment income | $472 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$115,747 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,521,320 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,678,200 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,857,890 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $788,885 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $392,697 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $924,609 |
| Insurance | $75,138 |
| All other expenses | $533,043 |
| Total functional expenses | $7,192,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,147,514 |
| Savings and temporary cash investments | $2,898,492 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $630,262 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $228,389 |
| Prepaid expenses and deferred charges | $128,018 |
| Net Land, buildings, and equipment | $12,412,014 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,425 |
| Total assets | $17,463,114 |
| Accounts payable and accrued expenses | $808,247 |
| Grants payable | $0 |
| Deferred revenue | $331,318 |
| 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 | $10,050,153 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,189,718 |
| Net assets without donor restrictions | $6,273,396 |
| 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 | $17,463,114 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sarasota Yacht Club has recieved totaling $18,965.
| Awarding Organization | Amount |
|---|---|
Gulf Coast Community Foundation Inc Venice, FL PURPOSE: HUMAN SERVICES | $18,965 |
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 |