Waikiki Yacht Club
- Assets
- $2.9m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Honolulu, HI
- Founding
- 06/1946
- Data as of
- 12/2022
- EIN
- 99-0063872
Organization Overview
Waikiki Yacht Club is located in Honolulu, HI. The organization was established in 1946. 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. Waikiki 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 12/2022, Waikiki Yacht Club generated $3.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $3.6m during the year ending 12/2022. While expenses have increased by 2.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THIS CLUB IS ORGANIZED AND SHALL OPERATE TO PROVIDE FOR THE PLEASURE, RECREATION AND OTHER NONPROFITABLE PURPOSES OF ITS MEMBERS, AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE. CONSISTENT WITH ITS STATUS AS A SECTION 501(C)(7) TAX EXEMPT ENTITY, THE PRIMARY PURPOSE FOR WHICH THIS CLUB IS ORGANIZED AND ITS PRIMARY MISSION IS TO PROVIDE A MEDIUM THROUGH WHICH ITS MEMBERS MAY PARTICIPATE IN THE SPORT OF YACHTING AND TO PROMOTE AND FOSTER INTEREST IN THE KNOWLEDGE OF YACHTING, BOATING, NAVIGATION, AND OTHER MARITIME ACTIVITIES, AND TO COOPERATE WITH FEDERAL, STATE, AND MUNICIPAL OFFICIALS IN THE PROTECTION OF LIFE AND PROPERTY ON THE HIGH SEAS AND WITHIN THE WATERS OF THE STATE OF HAWAII. CORINTHIANISM SHALL DOMINATE ALL ACTIVITIES OF THE CLUB. SUBJECT TO THE CLUB'S PRIMARY PURPOSE AND MISSION, THE CLUB MAY OFFER SUCH SOCIAL AND RECREATIONAL ACTIVITIES TO ITS MEMBERS AS ARE CONSISTENT WITH ITS NONPROFIT, TAX EXEMPT STATUS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB OPERATES A FULL SERVICE RESTAURANT FOR ITS MEMBERS AND THEIR GUESTS. THE CLUB'S DINING ROOM FACILITIES ALSO PROVIDES A MEETING PLACE FOR SOCIAL EVENTS.
THE CLUB MAINTAINS DOCK AND MOORING FACILITIES FOR ITS MEMBERS AND VISITING YACHTSMEN.
THE CLUB OPERATES A BOUTIQUE WHICH SELLS CLOTHING AND OTHER LOGO MERCHANDISE TO ITS MEMBERS AND THEIR GUESTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Commodore | OfficerTrustee | 30 | $0 |
Peter Gaskell Vice Commodo | OfficerTrustee | 10 | $0 |
Sean Doyle Rear Commodo | OfficerTrustee | 5 | $0 |
Christine Clothier Treasurer | OfficerTrustee | 20 | $0 |
Michael Mcdonald Director | Trustee | 5 | $0 |
Gary Evoniuk Director | Trustee | 15 | $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 | $2,497,462 |
| Investment income | $2,599 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,629,213 |
| 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 | $1,188,410 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $361,099 |
| Payroll taxes | $168,866 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,780 |
| Fees for services: Accounting | $10,157 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $390,752 |
| Advertising and promotion | $2,333 |
| Office expenses | $233,777 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $596,852 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $924 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $100,443 |
| Insurance | $165,920 |
| All other expenses | $92,477 |
| Total functional expenses | $3,623,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $289,200 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $99,744 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $52,272 |
| Prepaid expenses and deferred charges | $126,109 |
| Net Land, buildings, and equipment | $1,571,799 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $764,584 |
| Total assets | $2,903,708 |
| Accounts payable and accrued expenses | $308,454 |
| Grants payable | $0 |
| Deferred revenue | $110,000 |
| 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 | $427,958 |
| Total liabilities | $846,412 |
| Net assets without donor restrictions | $2,057,296 |
| 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 | $2,903,708 |