Biloxi Yacht Club
- Assets
- $3.2m
- Revenue
- $474.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Biloxi, MS
- Founding
- 12/1987
- Data as of
- 12/2019
- EIN
- 64-0121510
Organization Overview
Biloxi Yacht Club is located in Biloxi, MS. The organization was established in 1987. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Biloxi 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 12/2019, Biloxi Yacht Club generated $474.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (9.9%) each year. All expenses for the organization totaled $688.5k during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE YACHTING IN THE GULF COAST AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH SAILING PROGRAMS
RACING REGATTAS
YACHTING PROMOTIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sid Trahan Director | Officer | 10 | $0 |
Dennis House Director | Officer | 10 | $0 |
Bob Tucei Director | Officer | 10 | $0 |
Tim Manuel Fleet Captain | Officer | 5 | $0 |
Liz Joachim Past Commodore | Officer | 5 | $0 |
Virgil Jefferson Fleet Surgeon | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $289,616 |
| Investment income | $1 |
| 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 | $131,227 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $474,756 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $225,750 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $28,487 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,928 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $687 |
| Advertising and promotion | $3,545 |
| Office expenses | $14,506 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $72,127 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,785 |
| Interest | $45,111 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $128,235 |
| Insurance | $57,304 |
| All other expenses | $0 |
| Total functional expenses | $688,470 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,708 |
| Savings and temporary cash investments | $19,676 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67,338 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,165,311 |
| Accounts payable and accrued expenses | $95,529 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,198,038 |
| Unsecured mortgages and notes payable | $105,000 |
| Other liabilities | $1,260 |
| Total liabilities | $1,399,827 |
| 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 |
| Total liabilities and net assets/fund balances | $1,765,484 |
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