Long Beach Yacht Club
- Assets
- $12.1m
- Revenue
- $6.1m
- Investments
- $0.0
- Employees
- 137
- Location
- Long Beach, CA
- Founding
- 04/1966
- Data as of
- 12/2023
- EIN
- 95-2112652
Organization Overview
Long Beach Yacht Club is located in Long Beach, CA. The organization was established in 1966. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Long Beach Yacht Club employed 137 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Long Beach 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, Long Beach Yacht Club generated $6.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $5.2m during the year ending 12/2023. 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
RECREATION, PLEASURE AND OTHER NONPROFITABLE PURPOSES FOR THE BENEFIT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LONG BEACH YACHT CLUB HOSTED YACHTING EVENTS, SPONSORED THE CONGRESSIONAL CUP, AND VARIOUS YOUTH ACTIVITIES FOR THE PLEASURE, RECREATION, AND SOCIAL BENEFIT OF ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Blair Carty Commodore | OfficerTrustee | 4 | $0 |
Scott Dixon Vice Commodore | OfficerTrustee | 4 | $0 |
Lisa Meier Rear Commodore | OfficerTrustee | 4 | $0 |
Bob Piercy Fleet Captain | OfficerTrustee | 4 | $0 |
Greg Magnuson Port Captain | OfficerTrustee | 4 | $0 |
Jon Turigliatto Jr. Staff Comm | Trustee | 4 | $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 | $5,998,356 |
| Investment income | $190,855 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$12,683 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$60,270 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,116,258 |
| 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. | $324,517 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,400,306 |
| Pension plan accruals and contributions | $21,812 |
| Other employee benefits | $343,158 |
| Payroll taxes | $130,489 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $366,767 |
| Insurance | $179,031 |
| All other expenses | $1,224,702 |
| Total functional expenses | $5,222,371 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $397,563 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $684,090 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $215,413 |
| Prepaid expenses and deferred charges | $86,299 |
| Net Land, buildings, and equipment | $2,928,987 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,759,958 |
| Total assets | $12,072,310 |
| Accounts payable and accrued expenses | $989,258 |
| 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 | $256,084 |
| Total liabilities | $1,245,342 |
| Net assets without donor restrictions | $10,826,968 |
| 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 | $12,072,310 |