Miami Outboard Club Inc
- Assets
- $2.7m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 20
- Location
- Miami, FL
- Founding
- Data as of
- 03/2023
- EIN
- 59-0754371
Organization Overview
Miami Outboard Club Inc is located in Miami, FL. As of 03/2023, Miami Outboard Club Inc employed 20 individuals. Miami Outboard 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 03/2023, Miami Outboard Club Inc generated $2.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $2.2m during the year ending 03/2023. While expenses have increased by 3.9% 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
THE MIAMI OUTBOARD CLUB SERVES APPROX. 600 MEMBERS. THEY ARE DEDICATED TO PROMOTING THE SPORT OF BOATING, GIVING INSTRUCTIONS AND PROMOTING THE SAFE USE OF THE WATERWAYS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD PROGRAM: AS PART OF ITS MISSION, THE MIAMI OUTBOARD CLUB PROVIDES MEALS TO ITS MEMBERS AT SPECIFIED PRICES.
SPECIAL EVENTS: AS PART OF ITS MISSION, THE MIAMI OUTBOARD CLUB PROVIDES COMMUNITY EVENTS AND OTHER ACTIVITIES TO INTRODUCE BOATING TO INNER CITY CHILDREN AND TO SENIOR CITIZENS.
BAR: AS PART OF ITS MISSION, THE MIAMI OUTBOARD CLUB PROVIDES SOFT DRINKS AND OTHER COCKTAILS TO ITS MEMBERS DURING THE YEAR.
STORAGE AND LEASING: AS PART OF ITS MISSION, THE MIAMI OUTBOARD CLUB PROVIDES STORAGE AND LEASING SERVICES TO ITS 600 MEMBERS DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Armando Antelo Governor | Trustee | 1 | $0 |
Dan Carballo Governor | Trustee | 10 | $0 |
Pedro Fernandez Governor | Trustee | 1 | $0 |
Angel Fernandez Governor | Trustee | 1 | $0 |
Hermen Ferraz Governor | Trustee | 1 | $0 |
Tony Hernandez Governor | 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 | $328,780 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $328,780 |
| Total Program Service Revenue | $2,111,654 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,494,760 |
| 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 | $509,391 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $70,179 |
| 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 | $209,328 |
| Advertising and promotion | $23,268 |
| Office expenses | $73,844 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $165,377 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $103,300 |
| Insurance | $176,040 |
| All other expenses | $109,812 |
| Total functional expenses | $2,222,696 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,162,711 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36,423 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $39,397 |
| Prepaid expenses and deferred charges | $82,730 |
| Net Land, buildings, and equipment | $1,381,200 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,992 |
| Total assets | $2,730,453 |
| Accounts payable and accrued expenses | $43,122 |
| Grants payable | $0 |
| Deferred revenue | $100,157 |
| 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 | $143,279 |
| Net assets without donor restrictions | $2,587,174 |
| 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 | $2,730,453 |