Smyrna Yacht Club
- Assets
- $4.5m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 72
- Location
- New Smyrna Beach, FL
- Founding
- 03/1980
- Data as of
- 12/2023
- EIN
- 59-1159107
Organization Overview
Smyrna Yacht Club is located in New Smyrna Beach, FL. The organization was established in 1980. 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 12/2023, Smyrna Yacht Club employed 72 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Smyrna 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 12/2023, Smyrna Yacht Club generated $2.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $2.9m during the year ending 12/2023. While expenses have increased by 6.0% per year over the past 9 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
PRIVATE CLUB ACTIVITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MEMBER FACILITIES AND ACTIVITIES, WHICH INCLUDE A CLUBHOUSE, 81 DOCK SPACES, AND VARIOUS OTHER AMENITIES. WE HAVE A LONG HISTORY OF WHICH WE ARE PROUD, AND CONTINUE TO CARRY OUR LEGACY FORWARD TO THE FUTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen North Commodore | OfficerTrustee | 15 | $0 |
Bill Robinson Vice-Commodore | OfficerTrustee | 5 | $0 |
Christine Elnitsky Rear-Commodore | OfficerTrustee | 5 | $0 |
Tim Payne Secretary | OfficerTrustee | 5 | $0 |
Bernie Mccarthy Treasurer | OfficerTrustee | 5 | $0 |
Brian Flora Fleet Captain/governor | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cheney Brothers Food Services | 12/30/23 | $253,422 |
Sysco Food Services | 12/30/23 | $142,384 |
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 | $1,885 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,885 |
| Total Program Service Revenue | $1,895,967 |
| Investment income | $11,245 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$301 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $950,787 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,941,210 |
| 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. | $294,971 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $892,439 |
| Pension plan accruals and contributions | $16,242 |
| Other employee benefits | $139,035 |
| Payroll taxes | $116,929 |
| 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 | $8,853 |
| Advertising and promotion | $32,655 |
| Office expenses | $225,813 |
| Information technology | $34,049 |
| Royalties | $0 |
| Occupancy | $116,399 |
| Travel | $6,151 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,561 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $450,031 |
| Insurance | $205,533 |
| All other expenses | $18,833 |
| Total functional expenses | $2,870,186 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $363,029 |
| Savings and temporary cash investments | $938,383 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $684,844 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $93,611 |
| Prepaid expenses and deferred charges | $58,315 |
| Net Land, buildings, and equipment | $2,322,054 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,540 |
| Total assets | $4,464,776 |
| Accounts payable and accrued expenses | $248,825 |
| Grants payable | $0 |
| Deferred revenue | $845,592 |
| 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 | $1,094,417 |
| Net assets without donor restrictions | $0 |
| 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 | $3,370,359 |
| Total liabilities and net assets/fund balances | $4,464,776 |