Venice Yacht Club Inc
- Assets
- $5.9m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Venice, FL
- Founding
- 12/1965
- Data as of
- 06/2022
- EIN
- 59-0655991
Organization Overview
Venice Yacht Club Inc is located in Venice, FL. The organization was established in 1965. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Venice 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 06/2022, Venice Yacht Club Inc generated $4.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $3.5m during the year ending 06/2022. While expenses have increased by 4.2% 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
A. TO ENCOURAGE THE PROPER USE AND ENJOYMENT OF YACHTS AND BOATS AND TO ASSIST IN EDUCATING MEMBERS IN THE SCIENCE OF NAVIGATION, BOAT DESIGN, AND THE SKILLS OF SAILING.B. TO OWN AND OPERATE AN APPROPRIATE PRIVATE WATERFRONT CLUB IN THE FURTHERANCE OF THE AFORESAID PURPOSES AND TO PROMOTE SOCIAL COMMUNION AMONG ITS MEMBERS AND GUESTS.C. TO ENCOURAGE THE EDUCATION OF THE YOUNG PEOPLE IN THE COMMUNITY IN THE SCIENCE OF NAVIGATION, THE ART OF SAILING, AND SMALL BOAT HANDLING.D. TO PROVIDE AN OPPORTUNITY FOR PERSONS WHO SHARE THESE PURPOSES TO JOIN FORCES IN THE FURTHERANCE OF SUCH COMMON PURSUITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDES ENTERTAINMENT, FOOD, BEVERAGE, AND MARINA FACILITIES FOR MEMBERS AND THEIR GUESTS TO ENCOURAGE YACHTING AND PROFICIENCY IN SEAMANSHIP AND NAVIGATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Terranova Ex-Officio | OfficerTrustee | 2 | $0 |
Donna Boldt Commodore | OfficerTrustee | 2 | $0 |
John Holic Vice Commodore/treasurer | OfficerTrustee | 2 | $0 |
Vince Pellicia Rear Commodore | OfficerTrustee | 2 | $0 |
Terri Griffith Secretary | OfficerTrustee | 2 | $0 |
Steve Johnson Director | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $324,672 |
| Investment income | $1,451 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$20,368 |
| Net Gain/Loss on Asset Sales | -$286 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,603,875 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,405,115 |
| Statement of Expenses | |
|---|---|
| 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. | $161,089 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,286,277 |
| Pension plan accruals and contributions | $13,858 |
| Other employee benefits | $223,732 |
| Payroll taxes | $174,838 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,938 |
| Fees for services: Accounting | $16,121 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $33,159 |
| Advertising and promotion | $35,545 |
| Office expenses | $47,005 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $178,550 |
| Travel | $9,177 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,160 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $342,965 |
| Insurance | $219,995 |
| All other expenses | $0 |
| Total functional expenses | $3,457,849 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $850 |
| Savings and temporary cash investments | $1,305,351 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $583,738 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $132,342 |
| Prepaid expenses and deferred charges | $257,325 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $93,000 |
| Total assets | $5,922,417 |
| Accounts payable and accrued expenses | $237,935 |
| Grants payable | $0 |
| Deferred revenue | $28,251 |
| 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 | $218,920 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $485,106 |
| Net assets without donor restrictions | $5,437,311 |
| 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 |
| Total liabilities and net assets/fund balances | $5,437,311 |