Biloxi Yacht Club
- Assets
- $2.6m
- Revenue
- $411.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Biloxi, MS
- Founding
- 12/1987
- Data as of
- 12/2022
- 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 12/2022, Biloxi Yacht Club generated $411.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.0%) each year. All expenses for the organization totaled $582.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 8 years. 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
2022
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 | Trustee | 2 | $0 |
Carl Nehlig Director | Trustee | 2 | $0 |
Brent Harrell Director | Trustee | 2 | $0 |
Mike Owen Director | Trustee | 2 | $0 |
Becky Gill Director | Trustee | 2 | $0 |
David Gentile Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $302,643 |
| 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 | $302,643 |
| Total Program Service Revenue | $82,750 |
| Investment income | $0 |
| 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 | $24,969 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $411,223 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $148,776 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $14,176 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,453 |
| 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 | $14,817 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $138,136 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $48,556 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $121,773 |
| Insurance | $39,128 |
| All other expenses | $2,457 |
| Total functional expenses | $582,395 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,715 |
| Savings and temporary cash investments | $440 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 |
| Net Land, buildings, and equipment | $2,539,035 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,500 |
| Total assets | $2,646,690 |
| Accounts payable and accrued expenses | $126,845 |
| 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 | $1,392,525 |
| Unsecured mortgages and notes payable | $111,000 |
| Other liabilities | $20,771 |
| Total liabilities | $1,651,141 |
| 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 | $995,549 |
| Total liabilities and net assets/fund balances | $2,646,690 |