Naples Yacht Club Inc
- Assets
- $20.8m
- Revenue
- $6.1m
- Investments
- $0.0
- Employees
- 80
- Location
- Naples, FL
- Founding
- 11/1960
- Data as of
- 09/2021
- EIN
- 59-0904526
Organization Overview
Naples Yacht Club Inc is located in Naples, FL. The organization was established in 1960. 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, Naples Yacht Club Inc employed 80 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Naples 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 09/2021, Naples Yacht Club Inc generated $6.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $7.1m during the year ending 09/2021. While expenses have increased by 3.1% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE NAPLES YACHT CLUB (NYC) IS A PRIVATE YACHT AND SOCIAL CLUB ORGANIZED FOR THE PLEASURE AND RECREATION OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB MAINTAINS A DINING FACILITY FOR THE BENEFIT OF ITS MEMBERS. FOR THE YEAR 09/30/21, FOOD AND BEVERAGE SALES TOTALED $ 1,956,605 OF WHICH $166,229 WAS NON-MEMBER RELATED.
THE CLUB MAINTAINS A MARINA AREA FOR THE BENEFIT OF ITS MEMBERS. FOR THE YEAR 09/30/21, MARINA SALES TOTALED $ 583,636 OF WHICH $ 117,895 WAS NON-MEMBER RELATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Mooney General Manager | Officer | 40 | $263,334 |
Christina Fridley Cfo/controller | Officer | 40 | $122,113 |
Michael Katz Executive Chef | 40 | $109,720 | |
Joseph W Mcclanathan Commodore | OfficerTrustee | 4 | $0 |
Richard B Maxwell Vice Commodore | OfficerTrustee | 4 | $0 |
Kathy P King Rear Commodore | OfficerTrustee | 4 | $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 | $4,646,087 |
| Investment income | $2,169 |
| 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 | $1,104,047 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,123,873 |
| 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. | $403,071 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,619,199 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| 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 | $315,767 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,122,659 |
| Insurance | $223,388 |
| All other expenses | $320,047 |
| Total functional expenses | $7,118,798 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,240,193 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $227,401 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $182,573 |
| Prepaid expenses and deferred charges | $143,205 |
| Net Land, buildings, and equipment | $17,014,439 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,807,811 |
| Accounts payable and accrued expenses | $128,354 |
| Grants payable | $0 |
| Deferred revenue | $1,354,230 |
| 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 | $4,376,621 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $755,130 |
| Total liabilities | $6,614,335 |
| Net assets without donor restrictions | $14,193,476 |
| 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 | $20,807,811 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Naples Yacht Club Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Robert And Virginia Cornog Family Foundation Naples, FL PURPOSE: SCHOLARSHIP FUND | $1,000 |
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 |