Seattle Yacht Club
- Assets
- $35.1m
- Revenue
- $11.1m
- Investments
- $3.0m
- Employees
- 111
- Location
- Seattle, WA
- Founding
- 06/1921
- Data as of
- 10/2023
- EIN
- 91-0404140
Organization Overview
Seattle Yacht Club is located in Seattle, WA. The organization was established in 1921. 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 10/2023, Seattle Yacht Club employed 111 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seattle 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 10/2023, Seattle Yacht Club generated $11.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $9.5m during the year ending 10/2023. While expenses have increased by 3.3% 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
TO ENCOURAGE YACHTING AND BOATING OF ALL KINDS, AND THE DEVELOPMENT OF THE RECREATIONAL MARINE ADVANTAGES OF THE PACIFIC NORTHWEST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEATTLE YACHT CLUB SAILING INCLUDES YOUTH SUMMER SAILING SCHOOL, ADULT SAILING LESSONS, REGATTAS, JUNIOR RACE TEAM, HIGH SCHOOL SAILING, OPTI GREEN FLEET PROGRAM.SYC IS RECOGNIZED AMONG THE LEADING YACHT CLUBS OF THE WORLD WITH A RENOWNED COMPREHENSIVE JUNIOR SAILING PROGRAM, IN WHICH THE JUNIOR RACE TEAM IS AN INTEGRAL PART. OUR JUNIOR RACE TEAM DRAWS UPON A BROAD BASE OF YOUNG SAILORS PRIMARILY FROM THE SYC SUMMER SAILING SCHOOL, SYC'S NORTHWEST INTERSCHOLASTIC HIGH SCHOOL SAILING TEAM (HS SAILING), AND COMMUNITY OUTREACH PROGRAMS. THE SYC JUNIOR RACE TEAM AND HS SAILING PROVIDE YOUTHS, FROM AGES 8 TO 18, THE OPPORTUNITY TO REACH FOR COMPETITIVE SUCCESS AT ALL LEVELS WHILE DEVELOPING ATHLETIC SKILLS, LEADERSHIP, SPORTSMANSHIP AND A LIFELONG LOVE FOR BOATING. SYC HAS GIVEN RISE TO NUMEROUS GENERATIONS OF SUCCESSFUL PACIFIC NORTHWEST SAILORS, INCLUDING MULTIPLE OLYMPIC CHAMPIONS. THE SYC RACE TEAM CONTINUES THE CLUB'S LEGACY OF ACHIEVEMENT, REPRESENTING SYC IN LOCAL, REGIONAL, NATIONAL AND INTERNATIONAL COMPETITIONS.
MANY SEATTLE YACHT CLUB MEMBERS CRUISE THE WATERS OF THE PACIFIC NORTHWEST IN POWERBOATS. WHETHER TOURING THE CLUB'S 10 OUTSTATIONS, LOCATED FROM GIG HARBOR IN THE SOUTH TO CORTES BAY IN THE NORTH, OR EXPLORING THE FRESH WATER LAKES, OUR MEMBERS TEND TO ENJOY THEIR TIME ON THE WATER. SYC HAS A NUMBER OF INTERESTING AND EXCITING EVENTS FOR MEMBERS WITH POWERBOATS. THESE INCLUDE FORMAL EVENTS WITH FUN INTERACTIVE THEMES, LOCAL AND LONG-RANGE CRUISES FROM PUGET SOUND TO THE CANADIAN GULF ISLANDS, AND MONTHLY DINNERS WITH EXCITING AND INFORMATIVE SPEAKERS. OUR MONTHLY CLUB DINNERS INCLUDE TOPICS ABOUT BOATING IN THE NORTHWEST AND ADVENTURES FROM AROUND THE WORLD. THESE DINNER ARE ALSO A FUN WAY TO MEET WITH FELLOW CLUB MEMBERS AND SHARE BOATING EXPERIENCES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phil Calvert Commodore | OfficerTrustee | 1 | $0 |
Pam Lowry Vice Commodore | OfficerTrustee | 1 | $0 |
Randy Holbrook Rear Commodore | OfficerTrustee | 1 | $0 |
Joanne Jones Secretary | OfficerTrustee | 1 | $0 |
Mary Simpson Treasurer Thru 10/31/23 | OfficerTrustee | 1 | $0 |
Pam Sanford Staff Commodore | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Robert Half International Inc Consulting | 10/30/23 | $292,440 |
Southern Marinas Elliott Bay Llc Marina Management | 10/30/23 | $1,746,935 |
Us Foods Food Services/distributors | 10/30/23 | $229,202 |
Printix Cloud Based Printing | 10/30/23 | $185,688 |
Cfo Selections Llc Financial Consulting | 10/30/23 | $162,495 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $8,548,111 |
| Investment income | $375,926 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $130,841 |
| Net Gain/Loss on Asset Sales | -$49,711 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,009,591 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,081,790 |
| 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 | $3,834,827 |
| Pension plan accruals and contributions | $32,730 |
| Other employee benefits | $722,687 |
| Payroll taxes | $422,313 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $75 |
| Fees for services: Accounting | $59,762 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $387,321 |
| Advertising and promotion | $1,054 |
| Office expenses | $180,086 |
| Information technology | $150,953 |
| Royalties | $0 |
| Occupancy | $424,849 |
| Travel | $43,750 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,500 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $653,030 |
| Insurance | $445,106 |
| All other expenses | $1,022,863 |
| Total functional expenses | $9,486,333 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,011,957 |
| Savings and temporary cash investments | $2,789,211 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,597,867 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $68,273 |
| Inventories for sale or use | $198,120 |
| Prepaid expenses and deferred charges | $332,964 |
| Net Land, buildings, and equipment | $13,192,052 |
| Investments—publicly traded securities | $9,945,599 |
| Investments—other securities | $2,984,984 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $35,121,027 |
| Accounts payable and accrued expenses | $762,375 |
| Grants payable | $0 |
| Deferred revenue | $859,556 |
| 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 | $944,339 |
| Total liabilities | $2,566,270 |
| Net assets without donor restrictions | $32,554,757 |
| 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 | $35,121,027 |