Isles Yacht Club Inc
- Assets
- $7.3m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 113
- Location
- Punta Gorda, FL
- Founding
- 09/1976
- Data as of
- 02/2024
- EIN
- 59-1673859
Organization Overview
Isles Yacht Club Inc is located in Punta Gorda, FL. The organization was established in 1976. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 02/2024, Isles Yacht Club Inc employed 113 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Isles 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 02/2024, Isles Yacht Club Inc generated $2.5m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $2.4m during the year ending 02/2024. While expenses have increased by 6.8% per year over the past 4 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE BOATING AND SOCIAL FACILITIES FOR OUR MEMBERS AND THEIR GUESTS, TO PROMOTE GOOD BOATING PRACTICES AND MARINE COMPETITION, AND TO PROVIDE OTHER RECREATIONAL SPORTS FACILITIES, I.E., TENNIS COURTS, SWIMMING POOL, AND FITNESS AND ACTIVITIES CENTER FOR OUR MEMBERS' BENEFIT AND TO ENCOURAGE SOCIAL INTERACTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FULL SERVICE RESTAURANT OPEN ONLY TO MEMBERS AND THEIR GUESTS. THE CLUB'S LIQUOR LICENSE, ISSUED PURSUANT TO FL STATUTE SECTION 61A-3.019, PROHIBITS THE CLUB FROM SELLING, SERVING, OR PERMITTING THE SERVICE OF ALCOHOLIC BEVERAGES TO ANYONE OTHER THAN A BONA FIDE CLUB MEMBER OR TO THEIR GUESTS. THE PAYMENT FOR SUCH SERVICE AND DISTRIBTUION MUST BE MADE ONLY BY BONA FIDE CLUB MEMBERS.
.
SWIMMING POOL, TENNIS COURTS, FITNESS CENTER, AND ACTIVITIES CENTER AVAILABLE FOR USE BY MEMBERS AND THEIR GUESTS AT NO CHARGE.
FUEL SALES AND DOCKAGE AVAILABLE FOR USE BY MEMBERS ONLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rudy Askew Director | Trustee | $0 | |
Robert Avallone Director | Trustee | $0 | |
Brian Barcic Vice Commord | OfficerTrustee | $0 | |
Paul Benson Director | Trustee | $0 | |
Chuck Busch Commodore | OfficerTrustee | $0 | |
Dennis Cantwell Director | Trustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hrsmarter 1 Llc Hrs Marter 1 Llc Peo | 2/27/23 | $1,163,067 |
Ceohr1 Inc Ceohr1 Inc Peo | 2/27/23 | $701,673 |
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 | $2,491,221 |
| Investment income | $4,641 |
| 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 | $24,701 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,522,052 |
| 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. | $196,255 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,593 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,706 |
| Office expenses | $56,485 |
| Information technology | $31,321 |
| Royalties | $0 |
| Occupancy | $274,726 |
| Travel | $1,303 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,100 |
| Interest | $62,321 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $442,948 |
| Insurance | $143,239 |
| All other expenses | $19,402 |
| Total functional expenses | $2,391,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $750 |
| Savings and temporary cash investments | $975,653 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $458,191 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $101,069 |
| Prepaid expenses and deferred charges | $125,108 |
| Net Land, buildings, and equipment | $3,953,406 |
| Investments—publicly traded securities | $524,380 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,133,469 |
| Total assets | $7,272,026 |
| Accounts payable and accrued expenses | $236,290 |
| Grants payable | $0 |
| Deferred revenue | $208,429 |
| 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 | $1,626,609 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $524,380 |
| Total liabilities | $2,595,708 |
| Net assets without donor restrictions | $4,676,318 |
| 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 | $7,272,026 |