New Orleans Yacht Club
- Assets
- $473.9k
- Revenue
- $293.2k
- Investments
- $0.0
- Employees
- 8
- Location
- New Orleans, LA
- Founding
- 01/2011
- Data as of
- 12/2021
- EIN
- 72-0629892
Organization Overview
New Orleans Yacht Club is located in New Orleans, LA. The organization was established in 2011. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, New Orleans Yacht Club employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Orleans 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, New Orleans Yacht Club generated $293.2k 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 $317.0k during the year ending 12/2021. While expenses have increased by 5.0% 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 SCIENCE OF YACHTING, BOAT AND YACHT RACING, SEAMANSHIP, AND FELLOWSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE AND MAINTAIN CLUBHOUSE: THE CLUBHOUSE SERVES AS THE ADMINISTRATIVE OFFICES AND BASE FOR ALL OTHER ACTIVITIES OF THE CLUB. ALL MEMBERS OF THE CLUB HAVE USE OF THE CLUBHOUSE WHICH IS OPEN 6 DAYS A WEEK YEAR-ROUND. IN ADDITION TO ADMINISTRATIVE OFFICES, THERE ARE: CLASSROOMS, RESTROOM AND SHOWER FACILITIES, BANQUET ROOMS, MEETING ROOMS, A KITCHEN, A BAR AND A BOAT STORAGE AREA WITH FLOATING AND FIXED DOCKS. THE CLUBHOUSE IS ESSENTIAL FOR PRE AND POST REGATTA ORGANIZING, REGATTA EQUIPMENT STORAGE, AND FOR ALL SOCIAL FUNCTIONS OF THE CLUB. THE OBJECTIVE OF THE CLUB HOUSE IS TO HAVE A BASE OF OPERATIONS TO CONDUCT OUR BOATING ACTIVITIES.
CONDUCT SAILING REGATTAS: THE NOYC CONDUCTS 30 WEDNESDAY NIGHT REGATTAS EACH YEAR AVERAGING 40 BOATS AT APPROXIMATELY 5 PEOPLE PER BOAT. WE CONDUCT 5 OTHER MAJOR REGATTAS PER YEAR AND CO-HOST A MULTITUDE OF RACES FOR OUR HIGH SCHOOL TEAMS. REGATTAS INVOLVE NUMEROUS VOLUNTEERS WHO ADMINISTER REGISTRATION, CONDUCT THE RACING ON THE WATER IN AT LEAST ONE COMMITTEE BOAT, BUT OFTEN UP TO 6 BOATS, MAINTAIN RACING MARKS, COMPUTE HANDICAP SCORES AND POST RESULTS OF THE REGATTAS IN THE CLUBHOUSE AS WELL AS ON THE INTERNET. MOST REGATTAS INCLUDE SOME FORM OF PARTY AT THE CONCLUSION FOR SOCIALIZING AS WELL AS DISCUSSION OF THE RACING, THE WEATHER AND ASSOCIATED TACTICS AND RULES OF RACING. THE OBJECTIVE OF SAILING REGATTAS IS THE REASON THE YACHT CLUB EXISTS AT ALL.
JUNIOR SAILING CAMP AND HIGH SCHOOL & COLLEGE SAILING TEAMS: THE CLUB MAINTAINS A FLEET OF DINGHIES FOR USE BY OUR JUNIOR SAILORS. WE ALSO MAINTAIN A FLEET OF MOTORIZED SAFETY BOATS WHICH ACCOMPANY THESE TEAMS WHEN THEY ARE SAILING. WE MAINTAIN ALL STORAGE AND MAINTENANCE FOR BOATS. THE OBJECTIVE OF THE JUNIOR SAILING PROGRAM IS TO TRAIN AND ENCOURAGE YOUTH TO BECOME SAILORS AND EVENTUALLY ACTIVE MEMBERS OF THE CLUB.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Wolf Manager | Officer | 40 | $52,000 |
Ryan Bancroft Board At Large | OfficerTrustee | 1 | $0 |
Bill Bradford Board At Large | OfficerTrustee | 1 | $0 |
Karl Hudson Board At Large | OfficerTrustee | 1 | $0 |
Gilbert Maclachlan Board At Large | OfficerTrustee | 1 | $0 |
Elliot Brett Rear Commodore | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $21,238 |
| 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 | $21,238 |
| Total Program Service Revenue | $214,197 |
| Investment income | $3,357 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,649 |
| 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 | $28,894 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $293,213 |
| 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. | $63,826 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,653 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,251 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,074 |
| Advertising and promotion | $0 |
| Office expenses | $8,827 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $86,198 |
| Travel | $167 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $204 |
| Interest | $532 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,095 |
| Insurance | $19,572 |
| All other expenses | $29,225 |
| Total functional expenses | $317,031 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,926 |
| Savings and temporary cash investments | $216,590 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,321 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $18,497 |
| Prepaid expenses and deferred charges | $20,258 |
| Net Land, buildings, and equipment | $190,947 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,322 |
| Total assets | $473,861 |
| Accounts payable and accrued expenses | $6,629 |
| 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 | $24,497 |
| Other liabilities | $45,851 |
| Total liabilities | $76,977 |
| Net assets without donor restrictions | $394,861 |
| Net assets with donor restrictions | $2,023 |
| 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 | $473,861 |
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