Olympia Yacht Club
- Assets
- $5.9m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 9
- Location
- Olympia, WA
- Founding
- 10/1942
- Data as of
- 12/2023
- EIN
- 91-0346680
Organization Overview
Olympia Yacht Club is located in Olympia, WA. The organization was established in 1942. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Olympia Yacht Club employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Olympia 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 12/2023, Olympia Yacht Club generated $1.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $991.0k during the year ending 12/2023. While expenses have increased by 2.0% per year over the past 8 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
OLYMPIA YACHT CLUB IS A CLUB ORGANIZED FOR PLEASURE AND RECREATION, OF WHICH NO PART OF THE NET EARNINGS BENEFIT ANY PRIVATE MEMBER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ENCOURAGES AND PROMOTES YACHTING, THE SCIENCE OF SEAMANSHIP AND NAVIGATION, AND PROVIDES AND MAINTAINS SUITABLE FACILITIES FOR THE USE AND RECREATION OF ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rich Bergholz Trustee | Trustee | $0 | |
Shannon Curtis Secretary | OfficerTrustee | $0 | |
John Erwin Trustee | Trustee | $0 | |
Rion Groves Treasurer | OfficerTrustee | $0 | |
Steve Parrott Trustee Chai | OfficerTrustee | $0 | |
Bob Sands Trustee | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $538,091 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1 |
| 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 | $538,092 |
| Total Program Service Revenue | $679,930 |
| Investment income | $28,689 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,025 |
| 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 | -$9,438 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,248,852 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $106,450 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,177 |
| Payroll taxes | $11,316 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $61,238 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,238 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $208,906 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $245,216 |
| Insurance | $40,388 |
| All other expenses | $58,970 |
| Total functional expenses | $991,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $353,361 |
| Savings and temporary cash investments | $1,923,117 |
| Pledges and grants receivable | $15,154 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,913 |
| Prepaid expenses and deferred charges | $18,811 |
| Net Land, buildings, and equipment | $3,316,605 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $263,529 |
| Total assets | $5,897,490 |
| Accounts payable and accrued expenses | $22,264 |
| 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 | $0 |
| Other liabilities | $6,624 |
| Total liabilities | $28,888 |
| Net assets without donor restrictions | $5,868,602 |
| 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 | $5,897,490 |