Naples Sailing & Yacht Club Inc
- Assets
- $11.5m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 59
- Location
- Naples, FL
- Founding
- 05/1972
- Data as of
- 09/2023
- 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 09/2023, Naples Sailing & Yacht Club Inc employed 59 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 09/2023, Naples Sailing & Yacht Club Inc generated $6.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $5.1m during the year ending 09/2023. While expenses have increased by 6.2% per year over the past 8 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
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 400 MEMBERS DURING THE YEAR.
TOTAL FOOD & BEVERAGE AND MERCHANDISE REVENUE FOR THE YEAR ENDED 09/30/2023 WAS $1,964,766 OF WHICH $384,662 WAS NON-MEMBER RELATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Leach Commodore | OfficerTrustee | 2 | $0 |
Carol Joseph Vice Commodore | OfficerTrustee | 2 | $0 |
Mike Manley Rear Commodore | OfficerTrustee | 2 | $0 |
Mike Minch Treasurer | OfficerTrustee | 2 | $0 |
Dean Lohman Secretary | OfficerTrustee | 2 | $0 |
Steve Arbaugh Director | Trustee | 1 | $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 | $3,119,025 |
| Investment income | $72,213 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,187 |
| Net Gain/Loss on Asset Sales | -$181,191 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,124,039 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,617,191 |
| 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. | $761,737 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,754,273 |
| Pension plan accruals and contributions | $36,742 |
| Other employee benefits | $244,117 |
| Payroll taxes | $196,157 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,558 |
| Fees for services: Accounting | $27,134 |
| 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 | $25,721 |
| Information technology | $43,847 |
| 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 | $51,002 |
| Interest | $67,311 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $607,840 |
| Insurance | $216,025 |
| All other expenses | $385,862 |
| Total functional expenses | $5,104,344 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $650 |
| Savings and temporary cash investments | $5,828,236 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $116,560 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $94,982 |
| Prepaid expenses and deferred charges | $231,659 |
| Net Land, buildings, and equipment | $4,582,736 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $625,044 |
| Total assets | $11,479,867 |
| Accounts payable and accrued expenses | $428,400 |
| Grants payable | $0 |
| Deferred revenue | $1,389,208 |
| 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 | $1,704,796 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $697,878 |
| Total liabilities | $4,220,282 |
| Net assets without donor restrictions | $7,259,585 |
| 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 | $11,479,867 |