Naples Yacht Club Inc
- Assets
- $27.0m
- Revenue
- $8.3m
- Investments
- $0.0
- Employees
- 107
- Location
- Naples, FL
- Founding
- 11/1960
- Data as of
- 09/2023
- 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 09/2023, Naples Yacht Club Inc employed 107 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 09/2023, Naples Yacht Club Inc generated $8.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $9.8m during the year ending 09/2023. While expenses have increased by 7.5% per year over the past 7 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 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 09/30/23, FOOD AND BEVERAGE SALES TOTALED $ 4,353,646 OF WHICH $ 806,653 WAS NON-MEMBER RELATED.
THE CLUB MAINTAINS A MARINA AREA FOR THE BENEFIT OF ITS MEMBERS. FOR THE YEAR 09/30/23, MARINA SALES TOTALED $ 611,199 OF WHICH $ 92,925 WAS NON-MEMBER RELATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph W Mcclanathan Commodore (through 11/30) | OfficerTrustee | 4 | $0 |
Richard B Maxwell Vice Commodore (through 11/30)/commodore (as Of 11 | OfficerTrustee | 4 | $0 |
Kathy P King Rear Commodore (through 11/30)/vice Commodore (as | OfficerTrustee | 4 | $0 |
Carol E Girardin Treasurer (through 11/30) | OfficerTrustee | 4 | $0 |
Thomas G Fitzgerald Secretary (through 11/30) | OfficerTrustee | 4 | $0 |
John H Tisdell Director (through 11/30)/rear Commodore (as Of 11/ | 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 | $5,872,594 |
| Investment income | $113,689 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$25,179 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,139,383 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,329,186 |
| 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. | $466,024 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,860,497 |
| 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 | $172,053 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,117,533 |
| Insurance | $364,407 |
| All other expenses | $608,283 |
| Total functional expenses | $9,843,995 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,143,994 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $224,949 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,204,214 |
| Prepaid expenses and deferred charges | $397,836 |
| Net Land, buildings, and equipment | $17,668,225 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,391,032 |
| Total assets | $27,030,250 |
| Accounts payable and accrued expenses | $414,028 |
| Grants payable | $0 |
| Deferred revenue | $2,703,371 |
| 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 | $3,371,851 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $547,325 |
| Total liabilities | $7,036,575 |
| Net assets without donor restrictions | $19,993,675 |
| 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 | $27,030,250 |