Sarasota Yacht Club
- Assets
- $22.3m
- Revenue
- $8.7m
- Investments
- $2.5m
- Employees
- 111
- Location
- Sarasota, FL
- Founding
- 01/1954
- Data as of
- 09/2023
- 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 09/2023, Sarasota Yacht Club employed 111 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 09/2023, Sarasota Yacht Club generated $8.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $9.0m during the year ending 09/2023. While expenses have increased by 4.8% 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
2023
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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Clarke Commodore | OfficerTrustee | 1 | $0 |
Harry Anand Vice Commodore | OfficerTrustee | 1 | $0 |
Robert Milligan Rear Commodore | OfficerTrustee | 1 | $0 |
Nichi Martin Treasurer | OfficerTrustee | 1 | $0 |
Gerard Ezcurra Secretary | OfficerTrustee | 1 | $0 |
Phil Johnson Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dooley Mack Constructors Of Fl Inc General Contractor | 9/29/20 | $635,012 |
Bradenton Fuel Oil Inc Fuel Purchases | 9/29/20 | $124,168 |
Lynch Oil Company Inc Fuel Purchases | 9/29/20 | $169,851 |
Sysco Food Service Food Purchases | 9/29/20 | $341,481 |
Cheney Brothers Food Purchases | 9/29/20 | $249,498 |
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 | $5,284,200 |
| Investment income | $199,954 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$11,262 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,707,437 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,701,883 |
| 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 | $3,625,071 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,381,044 |
| 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 | $278,119 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $872,601 |
| Insurance | $123,774 |
| All other expenses | $385,190 |
| Total functional expenses | $8,995,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,676,935 |
| Savings and temporary cash investments | $225,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $846,784 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $340,564 |
| Prepaid expenses and deferred charges | $279,225 |
| Net Land, buildings, and equipment | $11,905,979 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,490,931 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $552,452 |
| Total assets | $22,317,870 |
| Accounts payable and accrued expenses | $962,192 |
| Grants payable | $0 |
| Deferred revenue | $378,056 |
| 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 | $9,075,614 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $31,959 |
| Total liabilities | $10,447,821 |
| Net assets without donor restrictions | $11,870,049 |
| 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 | $22,317,870 |