Quartermaster Yacht Club
- Assets
- $2.0m
- Revenue
- $475.7k
- Investments
- $0.0
- Employees
- 1
- Location
- Vashon, WA
- Founding
- 11/1949
- Data as of
- 12/2023
- EIN
- 91-6050006
Organization Overview
Quartermaster Yacht Club is located in Vashon, WA. The organization was established in 1949. 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. Quartermaster 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, Quartermaster Yacht Club generated $475.7k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $286.5k during the year ending 12/2023. While expenses have increased by 3.6% per year over the past 9 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
PROVIDE MARINE EDUCATION AND BOAT MOORAGE FOR 200+ FAMILIES. PROVIDE SAFE BOAT SAILING TRAINING FOR YOUTHS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED MARINE EDUCATION, BOAT MOORAGE AND SOCIAL ACTIVITIES FOR 200+ FAMILIES AND PROVIDED SAFE BOAT SAILING TRAINING FOR YOUTHS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Gilman 1st Year Tru | Trustee | 1 | $0 |
Rob Piston 1st Year Tru | Trustee | 1 | $0 |
Jeff Carson 2nd Year Tru | Trustee | 1 | $0 |
Tim Chisnell 2nd Year Tru | Trustee | 1 | $0 |
Leif Ormseth Recording Se | Officer | 1 | $0 |
Lorraine Craft Treasurer | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $457,172 |
| Investment income | $2,071 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,501 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $475,744 |
| 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 | $12,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,629 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $39,403 |
| Advertising and promotion | $399 |
| Office expenses | $9,353 |
| Information technology | $1,115 |
| Royalties | $0 |
| Occupancy | $77,394 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,455 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,830 |
| Insurance | $28,307 |
| All other expenses | $1,887 |
| Total functional expenses | $286,475 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,747 |
| Savings and temporary cash investments | $101,603 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $69,503 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,687,461 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,025,314 |
| Accounts payable and accrued expenses | $0 |
| 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 | $246,012 |
| Total liabilities | $246,012 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $22,264 |
| Paid-in or capital surplus, or land, building, or equipment fund | $635,708 |
| Retained earnings, endowment, accumulated income, or other funds | $1,121,330 |
| Total liabilities and net assets/fund balances | $2,025,314 |