Hyannis Yacht Club
- Assets
- $7.1m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 161
- Location
- Hyannis, MA
- Founding
- 08/1947
- Data as of
- 12/2021
- EIN
- 04-2000996
Organization Overview
Hyannis Yacht Club is located in Hyannis, MA. The organization was established in 1947. 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, Hyannis Yacht Club employed 161 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hyannis 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, Hyannis Yacht Club generated $4.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $4.0m during the year ending 12/2021. While expenses have increased by 10.0% 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 MISSION OF THE HYANNIS YACHT CLUB SHALL BE TO ENCOURAGE THE SPORT OF YACHTING, TO PROMOTE THE EDUCATION AND SCIENCE OF SEAMANSHIP AND NAVIGATION, AND TO PROVIDE AND MAINTAIN A SUITABLE CLUB HOUSE AND ANCHORAGE FOR THE RECREATION AND USE OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTING NORMAL OPERATIONS OF A YACHT CLUB FOR THE BENEFIT OF ITS MEMBERS
YOUTH PROGRAMS SUCH AS SWIMMING AND SAILING ARE OFFERED TO KIDS OF ALL AGES
WATERFRONT FACILITIES FOR THE USE OF MEMBERS TO LAUNCH THEIR BOATS
ENTERTAINMENT, RACING AND SAILING ARE OFFERED FOR THE MEMBERS TO ENJOY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randall Wallin Commodore | Officer | 1 | $0 |
Keith Sexton Vice Commodore | Officer | 1 | $0 |
William D Nurse Treasurer | Officer | 1 | $0 |
John Spillane Rear Commodore | Officer | 1 | $0 |
Richard M Mcmahon Secretary | Officer | 1 | $0 |
Roy B Catignani Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sr Marina Construction Services | 9/29/18 | $212,660 |
Agm Contractors Construction Services | 9/29/18 | $176,050 |
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 | $4,628,950 |
| Investment income | $420 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$4,492 |
| 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 | -$1,110,727 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,977,672 |
| 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 | $1,900,544 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $136,475 |
| Payroll taxes | $269,396 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,508 |
| Fees for services: Accounting | $17,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $44,807 |
| 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 | $89,014 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $448,659 |
| Insurance | $223,369 |
| All other expenses | $224,175 |
| Total functional expenses | $4,030,874 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $515,378 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,205,260 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $63,156 |
| Prepaid expenses and deferred charges | $18,567 |
| Net Land, buildings, and equipment | $5,284,268 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,000 |
| Total assets | $7,093,629 |
| Accounts payable and accrued expenses | $175,618 |
| Grants payable | $0 |
| Deferred revenue | $1,089,630 |
| 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 | $2,457,542 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,722,790 |
| Net assets without donor restrictions | $3,370,839 |
| 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 | $7,093,629 |
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Harvard Club Of New York City New York, NY | $57,363,784 | $14,784,742 |
Wellesley Country Club Wellesley, MA | $55,523,277 | $17,353,733 |
Colony Club New York, NY | $19,784,366 | $16,065,896 |
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