Fairhope Yacht Club is located in Fairhope, AL. The organization was established in 1986. 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 12/2021, Fairhope Yacht Club employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairhope 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 12/2021, Fairhope Yacht Club generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 3.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PURPOSE IS TO SUPPORT AND ENCOURAGE THE SPORT OF YACHTING, INCLUDING SAILING, RACING, POWER BOATING AND CRUISING
Describe the Organization's Program Activity:
Part 3 - Line 4a
HARBOR SLIPS; SAILING AND POWER BOAT SLIPS WITH BOAT RAMP AND TWO HOISTS - 400+ INVOLVED MEMBERS
JR SAILING AND TRAINING PROGRAMS - 3 HIGH SCHOOL PROGRAMS FOR LOCAL HIGH SCHOOL STUDENTS ALSON WITH JR YACHT CLUB RACE & REGATTA INCLUDING FLEET, COMMITTEE BOAT AND OTHER REGATTAS
MAINSHEET - INFORMATION PUBLICATION
ALL OTHER RELATED PROGRAMS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Pat Colvin Office Manager | Officer | 40 | $50,457 |
Kevin Brooks Bar & Rest Mgr/chef | Officer | 40 | $41,200 |
Matthew Brown Bar & Rest Mgr/chef | Officer | 40 | $28,721 |
Scott Hartwell Board Member | Officer | 16 | $0 |
John Adams Board Member | Trustee | 8 | $0 |
Carl Weckmen Board Member | Trustee | 8 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $663,906 |
Fundraising events | $1,357 |
Related organizations | $0 |
Government grants | $116,012 |
All other contributions, gifts, grants, and similar amounts not included above | $219,297 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,000,572 |
Total Program Service Revenue | $312,590 |
Investment income | $62 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $4,333 |
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 | $603,422 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,926,688 |
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. | $192,341 |
Compensation of current officers, directors, key employees. | $146,455 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $375,119 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $11,641 |
Payroll taxes | $68,928 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $1,200 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $16,092 |
Office expenses | $56,088 |
Information technology | $17,441 |
Royalties | $0 |
Occupancy | $0 |
Travel | $7,525 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $43,785 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $317,500 |
Insurance | $179,100 |
All other expenses | $126,847 |
Total functional expenses | $1,800,932 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $321,041 |
Savings and temporary cash investments | $472,104 |
Pledges and grants receivable | $160,755 |
Accounts receivable, net | $499,406 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $43,932 |
Prepaid expenses and deferred charges | $38,179 |
Net Land, buildings, and equipment | $5,340,893 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $1 |
Other assets | $0 |
Total assets | $6,876,311 |
Accounts payable and accrued expenses | $54,518 |
Grants payable | $149,500 |
Deferred revenue | $349,848 |
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 | $1,140,134 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $3,535,645 |
Total liabilities | $5,229,645 |
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 | $1,646,666 |
Total liabilities and net assets/fund balances | $6,876,311 |
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