Ocean City Yacht Club Foundation Inc
- Assets
- $91.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Ocean City, NJ
- Founding
- Data as of
- 12/2023
- EIN
- 85-0863199
Organization Overview
Ocean City Yacht Club Foundation Inc is located in Ocean City, NJ. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocean City Yacht Club Foundation Inc 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 12/2023, Ocean City Yacht Club Foundation Inc generated $57.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (11.7%) each year. All expenses for the organization totaled $37.3k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (8.0%) per year over the past 2 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
TO PROVIDE OPPORTUNITIES TO FOSTER LOCAL EXCELLENCE IN AMATEUR MARITIME ACTIVITIES AND COMPETITIONS; TO SUPPORT STUDENTS IN MARITIME RELATED HIGHER EDUCATION; TO CONTRIBUTE TO MARITIME RELATED CHARITABLE AND EDUCATIONAL ORGANIZATIONS, AND TO MAINTAIN AND EXHIBIT THE FOUNDATION'S COLLECTIONS OF ARTWORK AND OTHER ARTICLES OF HISTORICAL IMPORTANCE AND TO PROVIDE EDUCATIONAL PROGRAMS ON MARITIME HISTORY AND RELATED TOPICS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Sessa Treasurer | 0 | $0 | |
Brad Jungels Chairman | 0 | $0 | |
Darlene Torzolini Secretary | 0 | $0 | |
Karen Mayer Trustee | 0 | $0 | |
Kate Doms Trustee | 0 | $0 | |
Sara Maggitti Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,396 |
| Total Program Service Revenue | $13,105 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $57,501 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $875 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $36,460 |
| Total expenses | $37,335 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $91,485 |
| Other assets | $0 |
| Total assets | $91,485 |
| Total liabilities | $900 |
| Net assets or fund balances | $90,585 |