Inverness Yacht Club 12852 Sir Francis Drake Blvd
- Assets
- $938.4k
- Revenue
- $409.3k
- Investments
- $0.0
- Employees
- 25
- Location
- Inverness, CA
- Founding
- 03/1977
- Data as of
- 09/2022
- EIN
- 94-1654962
Organization Overview
Inverness Yacht Club 12852 Sir Francis Drake Blvd is located in Inverness, CA. The organization was established in 1977. 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 09/2022, Inverness Yacht Club 12852 Sir Francis Drake Blvd employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inverness Yacht Club 12852 Sir Francis Drake Blvd is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 09/2022, Inverness Yacht Club 12852 Sir Francis Drake Blvd generated $409.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $432.8k during the year ending 09/2022. While expenses have increased by 7.6% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE INVERNESS YACHT CLUB, ON TOMALES BAY, WAS FOUNDED IN 1912 FOR THE PURPOSE OF PRESERVING TOMALES BAY, FOSTERING BOATING AND YACHTING AND TO SERVE AS A BASE FOR ADULT AND YOUTH ACTIVITIES IN THE COMMUNITY, BOTH ON AND OFF THE WATER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INVERNESS YACHT CLUB (IYC) HOSTED OR PROVIDED SPACE FOR COMMUNITY GROUP MEETINGS RELATED TO THE TOMALES BAY WATER SHED AND AREA THAT ADDRESSED ENVIRONMENTAL, ORGANIZATIONAL AND SOCIAL ISSUES. THE IYC PERFORMED THE YOUTH SAIL PROGRAM WITH APPROXIMATELY 10 INSTRUCTORS AND ADDITIONAL IYC VOLUNTEERS THAT SCHOOLED 60 YOUTH SAILORS FOR A PERIOD OF 6 WEEKS IN JUNE & JULY. IYC CONTINUED WITH THE SOCIAL ASPECT OF THE CLUB IN BRINGING MEMBERS AND ADDITIONAL COMMUNITY GUESTS TOGETHER AT THE CLUB FACILITIES, ALTHOUGH CURTAILED PARTIALLY FOR HEALTH CONSIDERATIONS. IYC PARTICIPATED AS A INTERESTED PARTY IN THE DEVELOPMENT OF THE POINT REYES NATIONAL SEASHORE UPDATED PLAN. PRIVATE MEMORIALS AND FAMILY GATHERINGS WERE PROVIDED FOR AT THE IYC FACILITIES. THE IYC OVERALL PROGRAMS (EXCEPTING THE YOUTH SAIL NOTED ABOVE) WERE COMPLETED ALTHOUGH LESSED DUE TO HEALTH CONSIDERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lael Duncan Commodore | OfficerTrustee | 2 | $0 |
Ben Ballard Vice Commodore | OfficerTrustee | 2 | $0 |
Anna-Pia Slothower Rear Commodore | OfficerTrustee | 2 | $0 |
Bob Stephens Staff Commodore | OfficerTrustee | 2 | $0 |
Steve Caletti Treasurer | OfficerTrustee | 2 | $0 |
Milly Biller Port Captain | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,977 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,500 |
| Noncash contributions included in lines 1a–1f | $8,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,477 |
| Total Program Service Revenue | $372,397 |
| Investment income | $3,234 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,274 |
| Net Income from Fundraising Events | -$4,339 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $7,878 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $409,271 |
| 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 | $98,623 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,218 |
| Payroll taxes | $9,656 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,281 |
| 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 | $2,927 |
| Information technology | $25,468 |
| Royalties | $0 |
| Occupancy | $773 |
| 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 | $38,670 |
| Insurance | $43,524 |
| All other expenses | $43,275 |
| Total functional expenses | $432,764 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $330,555 |
| Savings and temporary cash investments | $87,568 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,925 |
| 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 | $231 |
| Net Land, buildings, and equipment | $280,191 |
| Investments—publicly traded securities | $211,906 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $938,376 |
| Accounts payable and accrued expenses | $8,522 |
| 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 | $0 |
| Total liabilities | $8,522 |
| 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 | $929,854 |
| Total liabilities and net assets/fund balances | $938,376 |
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