Naples Sailing & Yacht Club Inc
- Assets
- $8.2m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 52
- Location
- Naples, FL
- Founding
- 05/1972
- Data as of
- 09/2021
- EIN
- 59-6213933
Organization Overview
Naples Sailing & Yacht Club Inc is located in Naples, FL. The organization was established in 1972. 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 Sailing & Yacht Club Inc employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Naples Sailing & 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 Sailing & Yacht Club Inc generated $4.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $3.6m during the year ending 09/2021. While expenses have increased by 2.2% 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
TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDED DOCKAGE AND SOCIAL ACTIVITIES TO APPROXIMATELY 300 MEMBERS DURING THE YEAR.
TOTAL FOOD & BEVERAGE AND MERCHANDISE REVENUE FOR THE YEAR ENDED 09/30/2021 WAS $1,005,083 OF WHICH $117,787 WAS NON-MEMBER RELATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Manuel Blanco General Manager | Officer | 52 | $228,392 |
Michael Madsen Head Chef | Officer | 40 | $151,893 |
Ann Marie Ashline Director Of Membership | 40 | $110,525 | |
Greg Bartels Controller | Officer | 40 | $87,296 |
Frank Corvino Commodore | OfficerTrustee | 2 | $0 |
Tom Mccarthy Vice Commodore | OfficerTrustee | 2 | $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 | $2,384,438 |
| Investment income | $2,823 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,945 |
| 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 | $567,008 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,615,883 |
| 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. | $471,398 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,250,182 |
| Pension plan accruals and contributions | $34,692 |
| Other employee benefits | $189,803 |
| Payroll taxes | $132,832 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,452 |
| Fees for services: Accounting | $25,194 |
| 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 | $24,344 |
| Information technology | $26,731 |
| 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 | $22,055 |
| Interest | $79,846 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $557,854 |
| Insurance | $87,670 |
| All other expenses | $170,329 |
| Total functional expenses | $3,585,366 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $650 |
| Savings and temporary cash investments | $3,396,200 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,971 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $80,878 |
| Prepaid expenses and deferred charges | $126,561 |
| Net Land, buildings, and equipment | $4,492,244 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $95,632 |
| Total assets | $8,220,136 |
| Accounts payable and accrued expenses | $328,807 |
| Grants payable | $0 |
| Deferred revenue | $978,692 |
| 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 | $2,038,223 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $140,364 |
| Total liabilities | $3,486,086 |
| Net assets without donor restrictions | $4,734,050 |
| 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 | $8,220,136 |
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