Southern Yacht Club
- Assets
- $13.6m
- Revenue
- $4.8m
- Investments
- $0.0
- Employees
- 127
- Location
- New Orleans, LA
- Founding
- 11/1942
- Data as of
- 12/2021
- 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 12/2021, Southern Yacht Club employed 127 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 12/2021, Southern Yacht Club generated $4.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $4.4m during the year ending 12/2021. While expenses have increased by 0.8% 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
2021
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Gaskell III General Manager | 40 | $206,047 | |
Duff Friend Vice Commodore | OfficerTrustee | 5 | $0 |
Dickie Provensal Commodore | OfficerTrustee | 5 | $0 |
Tim Molony Rear Commodore | OfficerTrustee | 5 | $0 |
Rocky Sanchez Secretary/treasurer | OfficerTrustee | 5 | $0 |
Mamsie Manard Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,389,162 |
| 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 | $2,389,162 |
| Total Program Service Revenue | $1,336,814 |
| Investment income | $1,545 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,100 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,022,483 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,821,937 |
| 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. | $206,047 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,454,238 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $189,161 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,645 |
| Fees for services: Accounting | $12,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,442 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $53,686 |
| Royalties | $0 |
| Occupancy | $306,167 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $991 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $514,593 |
| Insurance | $365,841 |
| All other expenses | $111,820 |
| Total functional expenses | $4,370,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,534,645 |
| Savings and temporary cash investments | $36,497 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,317,460 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $55,018 |
| Prepaid expenses and deferred charges | $122,457 |
| Net Land, buildings, and equipment | $9,608,984 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $969,968 |
| Total assets | $13,645,029 |
| Accounts payable and accrued expenses | $258,936 |
| Grants payable | $0 |
| Deferred revenue | $1,545,206 |
| 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 | $5,621 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,604 |
| Total liabilities | $1,826,367 |
| Net assets without donor restrictions | $11,818,662 |
| 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 | $13,645,029 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Southern Yacht Club has recieved totaling $24,000.
| Awarding Organization | Amount |
|---|---|
Sugar Bowl Louisiana Superdome New Orleans, LA PURPOSE: TO SPONSOR THE OPTIMIST MID-WINTER REGATTA AND THE GREAT OAKS REGATTA. | $20,000 |
Southern Sailing Foundation At New Orleans Metairie, LA PURPOSE: OPTI-MIDWINTER JUNIOR LIPTON'S GREAT OAKS | $4,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Houston Country Club Houston, TX | $109,550,970 | $26,529,286 |
Royal Oaks Country Club Inc Dallas, TX | $36,812,671 | $18,720,235 |
Northwood Club Dallas, TX | $57,507,067 | $19,852,706 |
Dallas Athletic Club Dallas, TX | $25,203,289 | $20,444,344 |
Austin Country Club Austin, TX | $33,624,786 | $15,055,486 |
Briar Club Houston, TX | $45,723,367 | $13,689,453 |
Lakewood Country Club Dallas, TX | $36,499,894 | $12,939,033 |
Bent Tree Country Club Inc Dallas, TX | $52,898,770 | $18,703,072 |
San Antonio Bowl Association Inc San Antonio, TX | $23,366,634 | $15,285,082 |
Bowling Proprietors Association Of America Inc Arlington, TX | $23,082,341 | $10,209,119 |
Preston Trail Golf Club Dallas, TX | $17,630,867 | $8,836,568 |
Country Club Of Louisiana 401k Baton Rouge, LA | $19,927,574 | $11,552,011 |