Pacific Cup Yacht Club
- Assets
- $148.2k
- Revenue
- $266.1k
- Investments
- $0.0
- Employees
- 0
- Location
- San Francisco, CA
- Founding
- 07/2014
- Data as of
- 12/2022
- EIN
- 68-0188186
Organization Overview
Pacific Cup Yacht Club is located in San Francisco, CA. The organization was established in 2014. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., 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. Pacific Cup Yacht Club is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Pacific Cup Yacht Club generated $266.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $259.7k during the year ending 12/2022. While expenses have increased by 1.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CONDUCT A SAILBOAT RACE FROM SAN FRANCISCO BAY TO THE HAWAIIAN ISLANDS EVERY OTHER YEAR IN THE EVEN-NUMBERED YEARS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RACE OPERATIONS: THE 21ST RUNNING OF THE RACE WAS A SUCCESS. AS THE PREVIOUS RACE CYCLE WAS CANCELED DUE TO COVID-19, PENT-UP DEMAND RESULTED IN A LARGER NUMBER OF BOATS THAN AVERAGE PARTICIPATING.
EVENTS AND CONTAINER SHIPPING: EVENTS HELD IN HAWAII WERE SUCCESSES, INCLUDING WELCOME PARTIES AND AWARD CEREMONIES. COSTS OF ENTERTAINMENT WERE COVERED BY EVENT-SPECIFIC TICKET SALES. ALL THE ITEMS SHIPPED ARRIVED SAFELY, BOTH TO HAWAII AND RETURNED.
SEMINARS: 5 SEMINARS WERE HELD, INCLUDING (2) PACIFIC OFFSHORE ACADEMY SEMINARS, AND (3) SAFETY-AT-SEA SEMINARS. BOTH COVER A RANGE OF ESSENTIAL KNOWLEDGE AND PRACTICAL SKILLS TO ENHANCE THE SAFETY OF THE EVENT, AS WELL AS THE GENERAL SAFETY OF ALL SAILORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Quanci President | OfficerTrustee | 10 | $0 |
Rowena Calson Vice President | OfficerTrustee | 10 | $0 |
Hawkeye King Secretary | OfficerTrustee | 10 | $0 |
Harold Marsh Treasurer | OfficerTrustee | 10 | $0 |
M Moradzadeh Director | Trustee | 10 | $0 |
Rowena Calson Director | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $7,750 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,000 |
| Total Program Service Revenue | $235,183 |
| Investment income | $22 |
| 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 | $5,943 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $266,148 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $985 |
| 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 | $128 |
| Information technology | $200 |
| Royalties | $0 |
| Occupancy | $1,230 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,704 |
| All other expenses | $17,055 |
| Total functional expenses | $259,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,015 |
| Savings and temporary cash investments | $112,154 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $148,169 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,709 |
| Total liabilities | $4,709 |
| Net assets without donor restrictions | $143,460 |
| 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 | $148,169 |