Houston Yacht Club
- Assets
- $3.6m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 82
- Location
- La Porte, TX
- Founding
- 10/1944
- Data as of
- 09/2023
- EIN
- 74-0696260
Organization Overview
Houston Yacht Club is located in La Porte, TX. The organization was established in 1944. 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 09/2023, Houston Yacht Club employed 82 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Houston 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 09/2023, Houston Yacht Club generated $3.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $3.5m during the year ending 09/2023. While expenses have increased by 6.3% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATION FOR MEMBER FAMILIES IN YACHTING, WATER SAFETY, AND RACING COMPETITIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDES SOCIAL ACTIVITIES (INCLUDING FOOD SERVICE), EDUCATIONAL PROGRAMS, AND BOAT STORAGE FACILITIES FOR ITS APPROXIMATELY 350 MEMBERS, THEIR FAMILIES, AND CLUB GUESTS. THERE IS A STRONG EMPHASIS ON EDUCATIONAL YOUTH PROGRAMS AS WELL AS ADULT RACING, EDUCATION AND YACHTING EVENTS.
THE CLUB OFFERS AFTER-SCHOOL AND SUMMER PROGRAMS FOR YOUTH EDUCATION. THE YOUTH PROGRAM PROVIDES EDUCATIONAL PROGRAMS TO OVER 200 YOUTH ON BOATING SAFETY AND RACING, LEADERSHIP, AND SUPPORTS THE YOUTH IN REGIONAL AND NATIONAL SAILING AND RACING COMPETITIONS. THE CLUB HOSTED NUMEROUS YOUTH REGATTAS, INCLUDING TEXAS YOUTH RACE WEEK, VARIOUS SPECIALTY CLINICS AND TSA EVENTS, AND FALL AND SPRING AFTER-SCHOOL PROGRAMS. ONSHORE ACTIVITIES INCLUDED EDUCATIONAL PURSUITS, LEADERSHIP TRAINING, AND COLOR GUARD CHANGE OF WATCH. ALSO, HYC YOUTH REGULARLY PARTICIPATE IN NORTH AMERICAN AND US NATIONAL CHAMPIONSHIPS.
THE CLUB SPONSORS SAILBOAT RACES THROUGHOUT THE YEAR FOR CLUB MEMBERS AND HOSTS RACES AND REGATTAS FOR SAILBOAT FLEETS OUTSIDE OF THE CLUB. THE CLUB TRAINS RACE MANAGEMENT OFFICIALS WHO OFFER VOLUNTEER SERVICES TO SAILBOAT RACING LOCALLY AND NATIONALLY. THE CLUB HOSTS EDUCATIONAL AND INFORMATIONAL SEMINARS ON VARIOUS ASPECTS OF YACHTING. HYC CONDUCTED 24 REGATTAS WITH OVER 400 COMPETITORS THIS YEAR, INCLUDING THE J22 HERITAGE CUP, LIGHTNING GULF YACHTING CHAMPIONSHIP, AND CAROL BECKER REGATTA. IT ALSO INCLUDED VARIOUS CIRCUIT REGATTAS AND MID-WINTER REGATTAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ken Humphries Commodore | OfficerTrustee | 15 | $0 |
Charles Griffey Vice Commodore | OfficerTrustee | 15 | $0 |
Madonna Breen Rear Commodore | OfficerTrustee | 15 | $0 |
Juliane Graham Treasurer | OfficerTrustee | 5 | $0 |
Sarah Hampton Secretary | OfficerTrustee | 5 | $0 |
Greg Way Fleet Captain | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,334,249 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,793 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,341,042 |
| Total Program Service Revenue | $1,694,295 |
| Investment income | $10,519 |
| 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 | $119,943 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,173,299 |
| 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. | $116,836 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,207,064 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,538 |
| Fees for services: Accounting | $16,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $47,205 |
| Advertising and promotion | $34,033 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $101,101 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $401,698 |
| Insurance | $430,460 |
| All other expenses | $496,296 |
| Total functional expenses | $3,521,058 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,798 |
| Savings and temporary cash investments | $250,833 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $253,248 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $72,599 |
| Prepaid expenses and deferred charges | $126,039 |
| Net Land, buildings, and equipment | $2,808,441 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $63,080 |
| Total assets | $3,586,038 |
| Accounts payable and accrued expenses | $195,853 |
| Grants payable | $0 |
| Deferred revenue | $16,483 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $23,776 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $8,903 |
| Secured mortgages and notes payable | $2,170,973 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $256,695 |
| Total liabilities | $2,672,683 |
| Net assets without donor restrictions | $913,355 |
| 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 | $3,586,038 |