Queen City Yacht Club
- Assets
- $4.7m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 1
- Location
- Seattle, WA
- Founding
- 12/1944
- Data as of
- 09/2021
- EIN
- 91-0376843
Organization Overview
Queen City Yacht Club is located in Seattle, WA. The organization was established in 1944. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, 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. Queen City 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 09/2021, Queen City Yacht Club generated $1.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $1.3m during the year ending 09/2021. While expenses have increased by 4.2% per year over the past 6 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
THE OBJECT OF QUEEN CITY YACHT CLUB SHALL BE TO ENCOURAGE YACHTING, TO PROMOTE THE SCIENCE OF SEAMANSHIP AND NAVIGATION, AND TO PROVIDE AND MAINTAIN A SUITABLE CLUBHOUSE, MOORAGE, AND OTHER FACILITIES FOR THE USE AND RECREATION OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YACHT CLUB (APPROXIMATELY 480 MEMBERS)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele Bedner R. Commodore | Officer | 1 | $0 |
Joyce Carlson Treasurer | Officer | 1 | $0 |
Terron Lindholme Commodore | Officer | 1 | $0 |
Sandy Werner P. Commodore | Officer | 1 | $0 |
Margaret Krows V. Commodore | Officer | 1 | $0 |
Eric Wood Secretary | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $200 |
| Total Program Service Revenue | $1,228,077 |
| Investment income | $2,264 |
| 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 | $1,927 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,258,100 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500 |
| 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 | $55,141 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,399 |
| Payroll taxes | $7,734 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,250 |
| 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 | $35,548 |
| Information technology | $11,615 |
| Royalties | $0 |
| Occupancy | $697,852 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,091 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $333,518 |
| Insurance | $0 |
| All other expenses | $24,907 |
| Total functional expenses | $1,270,104 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$73,681 |
| Savings and temporary cash investments | $815,928 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,124 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $28,992 |
| Prepaid expenses and deferred charges | $4,830 |
| Net Land, buildings, and equipment | $3,904,173 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $10,879 |
| Other assets | $1,189 |
| Total assets | $4,722,434 |
| Accounts payable and accrued expenses | $18,345 |
| 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 | $47,809 |
| Total liabilities | $66,154 |
| Net assets without donor restrictions | $0 |
| 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 | $4,656,280 |
| Total liabilities and net assets/fund balances | $4,722,434 |
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