Weekapaug Yacht Club
- Assets
- $3.4m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 12
- Location
- Westerly, RI
- Founding
- 01/2009
- Data as of
- 12/2021
- EIN
- 05-0309365
Organization Overview
Weekapaug Yacht Club is located in Westerly, RI. The organization was established in 2009. 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 12/2021, Weekapaug Yacht Club employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Weekapaug 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, Weekapaug Yacht Club generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 36.3% each year . All expenses for the organization totaled $292.3k during the year ending 12/2021. While expenses have increased by 5.1% 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
TO PROMOTE SMALL BOAT SAILING AND RACING
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAMILIES AND INDIVIDUALS PARTICIPATE IN SOCIAL EVENTS, ENROLL CHILDREN IN SAILING PROGRAMS, PARTICIPATE IN WEEKLY CLUB RACES, AND USE OF THE CLUBS DOCKS AND FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brooke Horgan Commodore | OfficerTrustee | 2 | $0 |
Williams Adams IV Secretary | OfficerTrustee | 2 | $0 |
Cabot Earle Treasurer | OfficerTrustee | 2 | $0 |
Charles Delamater Vice Commodore | OfficerTrustee | 4 | $0 |
William Boll Director | Trustee | 2 | $0 |
Mark Bullinger Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $144,989 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,633,146 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,778,135 |
| Total Program Service Revenue | $217,475 |
| Investment income | $978 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,625 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,005,213 |
| 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 | $102,557 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,266 |
| 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 | $1,441 |
| Insurance | $23,954 |
| All other expenses | $48,259 |
| Total functional expenses | $292,320 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $535,548 |
| Savings and temporary cash investments | $2,428,507 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $12,970 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $456,896 |
| Total assets | $3,433,921 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $3,433,921 |
| 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 | $3,433,921 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Weekapaug Yacht Club has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Louis Foundation Cambridge, MA PURPOSE: CHARITABLE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United States Sailing Association Inc Bristol, RI | $8,027,126 | $11,092,289 |
New England Sailing Foundation Inc Marblehead, MA | $32,351 | $1,795,441 |
New England Science & Sailing Foundation Inc Stonington, CT | $5,613,617 | $3,618,390 |
Sail Newport Inc Newport, RI | $8,050,460 | $2,453,105 |
Community Boating Inc Boston, MA | $5,688,954 | $2,833,055 |
Winchester Boat Club Winchester, MA | $5,238,512 | $1,099,002 |
Saugatuck Harbor Yacht Club Inc Westport, CT | $2,019,925 | $1,016,320 |
Nantucket Community Sailing Inc Nantucket, MA | $4,938,871 | $779,029 |
Piers Park Sailing Center Inc East Boston, MA | $910,975 | $1,064,918 |
Pleasant Bay Community Boating Inc North Chatham, MA | $4,919,007 | $1,766,472 |
Cambridge Boat Club Cambridge, MA | $1,664,674 | $711,494 |
Crew Family Foundation Inc Plainville, CT | $603,187 | $731,564 |