Pacific Cup Yacht Club
- Assets
- $288.2k
- Revenue
- $30.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Walnut Creek, CA
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 68-0188186
Organization Overview
Pacific Cup Yacht Club is located in Walnut Creek, 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 12/2021, Pacific Cup Yacht Club generated $30.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.7%) each year. All expenses for the organization totaled $30.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 7 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
2021
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
SEMINARS: 7 DIFFERENT SEMINARS WERE PLANNED, 3 IN THE PRE-RACE YEAR AND 4 IN THE RACE YEAR. THE SUBJECTS COVERED ARE CHOSEN TO ENHANCE THE SAFETY OF ALL THE PARTICIPATING SAILORS. THE RACE YEAR SEMINARS WERE CANCELLED DUE TO COVID 19.
RACE OPERATIONS: SINCE THE 21ST RUNNING OF THE RACE HAD TO BE CANCELLED DUE TO COVID 19 ISSUES, THE PLANNING IS STILL UNDERWAY AND MOST REVENUE AND EXPENSES WILL BE RECOGNIZED IN THE 2022 INFORMATION RETURN.
EVENTS AND CONTAINER SHIPPING: THE EVENTS ARE STILL IN THE PLANNING STAGE. ALL REVENUES AND EXPENSES WILL BE RECOGNIZED IN THE 2022 INFORMATION RETURN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hawkeye King Secretary | OfficerTrustee | 10 | $0 |
Jim Quanci Commodore | OfficerTrustee | 10 | $0 |
Rowena Calson Vice Commodore | OfficerTrustee | 10 | $0 |
Rebecca Hinden Rear Commodore | OfficerTrustee | 10 | $0 |
Harold Marsh Treasurer | OfficerTrustee | 10 | $0 |
Bobbi Tosse Director | Trustee | 10 | $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 | $26,605 |
| 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 | $4,220 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,847 |
| 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 | $890 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,853 |
| Office expenses | $1,004 |
| Information technology | $440 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,783 |
| All other expenses | $19,426 |
| Total functional expenses | $30,468 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $168,180 |
| Savings and temporary cash investments | $112,132 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,500 |
| 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 | $1,393 |
| Total assets | $288,205 |
| Accounts payable and accrued expenses | $151,210 |
| 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 | $0 |
| Total liabilities | $151,210 |
| Net assets without donor restrictions | $136,995 |
| 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 | $288,205 |
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