New Bedford Yacht Club
- Assets
- $4.3m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 105
- Location
- South Dartmouth, MA
- Founding
- 08/1934
- Data as of
- 12/2021
- EIN
- 04-1659530
Organization Overview
New Bedford Yacht Club is located in South Dartmouth, MA. The organization was established in 1934. 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 12/2021, New Bedford Yacht Club employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Bedford 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 12/2021, New Bedford Yacht Club generated $2.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. While expenses have increased by 4.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CLUB WAS FORMED IN 1877 AND IS LOCATED IN PADANARAM HARBOR IN DARTMOUTH, MASSACHUSETTS. IT HAS A RICH HISTORY AND DIVERSE MEMBERSHIP WITH OUTSTANDING FACILITIES, INCLUDING A CLUBHOUSE AND WATERFRONT WITH DOCKS, SLIPS, LAUNCHING FACILITIES, HARBOR LAUNCH AND FUEL SERVICES. ACTIVITIES INCLUDE A SAILING SCHOOL THAT WAS THE START OF MANY HIGH SCHOOL, COLLEGIATE AND ALL AMERICAN SAILORS; AN ACTIVE WEDNESDAY NIGHT RACING SERIES AND PERIODIC PERPETUAL TROPHY RACES FOR COMPETITIVE SAILORS; A HOST OF SOCIAL EVENTS DURING THE ACTIVE SUMMER AND MORE LIMITED WINTER SEASONS; AND AN ANNUAL CRUISE OF A WEEK OR MORE WITH SHORTER CRUISING EVENTS DURING THE SUMMER SEASON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE DINING, SAILING AND RACING ACTIVITIES, CRUISING, AND SOCIAL EVENTS FOR THE CLUB'S APPROXIMATELY 600 MEMBERS AND THEIR GUESTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Baglini General Manager | Officer | 40 | $144,002 |
Blair W Tracy Vice Commodore | OfficerTrustee | 10 | $0 |
Kenneth D Van Colen Commodore | OfficerTrustee | 10 | $0 |
Stephen P Vescio Rear Commodore | OfficerTrustee | 10 | $0 |
Andrew F Herlihy Treasurer, Eff. 11/21 | OfficerTrustee | 10 | $0 |
Erica L Murray Treasurer Until 8/21 | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $10,000 |
| Government grants | $252,889 |
| 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 | $262,889 |
| Total Program Service Revenue | $2,007,571 |
| Investment income | $4,145 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$21,479 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $14,926 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,268,052 |
| 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. | $173,144 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $611,604 |
| Pension plan accruals and contributions | $15,578 |
| Other employee benefits | $37,291 |
| Payroll taxes | $76,055 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,223 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,782 |
| Advertising and promotion | $0 |
| Office expenses | $65,733 |
| Information technology | $53,725 |
| Royalties | $0 |
| Occupancy | $143,400 |
| 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 | $331,737 |
| Insurance | $123,854 |
| All other expenses | $26,553 |
| Total functional expenses | $1,871,088 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,607 |
| Savings and temporary cash investments | $1,375,673 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,340,497 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $43,170 |
| Prepaid expenses and deferred charges | $88,986 |
| Net Land, buildings, and equipment | $1,413,064 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $30,525 |
| Other assets | $24,447 |
| Total assets | $4,331,969 |
| Accounts payable and accrued expenses | $60,070 |
| Grants payable | $0 |
| Deferred revenue | $1,500,471 |
| 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 | $1,560,541 |
| Net assets without donor restrictions | $2,766,638 |
| Net assets with donor restrictions | $4,790 |
| 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 | $4,331,969 |
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|---|---|---|
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Wellesley Country Club Wellesley, MA | $55,523,277 | $17,353,733 |
Colony Club New York, NY | $19,784,366 | $16,065,896 |
Creek Inc Locust Valley, NY | $5,369,299 | $13,749,282 |
Woodway Country Club Incorporated Darien, CT | $32,570,201 | $14,880,536 |
Round Hill Club Incorporated Greenwich, CT | $26,532,622 | $13,385,000 |