Southern Yacht Club
- Assets
- $14.4m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 119
- Location
- New Orleans, LA
- Founding
- 11/1942
- Data as of
- 12/2022
- EIN
- 72-0323180
Organization Overview
Southern Yacht Club is located in New Orleans, LA. The organization was established in 1942. 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 12/2022, Southern Yacht Club employed 119 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern 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, Southern Yacht Club generated $5.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $5.2m during the year ending 12/2022. While expenses have increased by 3.5% 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 PROMOTE THE SPORT OF SAILING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FACILITIES FOR MEMBERS TO FOSTER SOCIAL INTERACTION.
PROVIDES FACILITIES FOR STORING AND MAINTAINING BOATS.
PROVIDES INSTRUCTIONS IN THE SCIENCE OF SAILING.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert D Friend Commodore | OfficerTrustee | 5 | $0 |
Timothy B Molony MD Vice Commodore | OfficerTrustee | 5 | $0 |
James R Sanchez Jr Rear Commodore | OfficerTrustee | 5 | $0 |
Nathan P Adams III Secretary/treasurer | OfficerTrustee | 5 | $0 |
Bob Kottler Board Member | Trustee | 5 | $0 |
Mamsie Manard Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,468,514 |
| 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 | $2,468,514 |
| Total Program Service Revenue | $1,377,319 |
| Investment income | $9,982 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,227 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,433,315 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,360,268 |
| 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. | $324,931 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,900,672 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,124 |
| Payroll taxes | $218,483 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,142 |
| Fees for services: Accounting | $14,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,504 |
| Advertising and promotion | $59,228 |
| Office expenses | $0 |
| Information technology | $58,541 |
| Royalties | $0 |
| Occupancy | $358,434 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $30 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $550,868 |
| Insurance | $535,213 |
| All other expenses | $13,486 |
| Total functional expenses | $5,218,837 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,764,897 |
| Savings and temporary cash investments | $36,500 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,326,893 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $75,802 |
| Prepaid expenses and deferred charges | $157,368 |
| Net Land, buildings, and equipment | $9,605,926 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,394,859 |
| Total assets | $14,362,245 |
| Accounts payable and accrued expenses | $383,050 |
| Grants payable | $0 |
| Deferred revenue | $1,581,161 |
| 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 | $3,373 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $518,708 |
| Total liabilities | $2,486,292 |
| Net assets without donor restrictions | $11,875,953 |
| 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 | $14,362,245 |