Indian Harbor Yacht Club Inc
- Assets
- $10.1m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 141
- Location
- Greenwich, CT
- Founding
- 09/1942
- Data as of
- 09/2021
- EIN
- 06-0400220
Organization Overview
Indian Harbor Yacht Club Inc is located in Greenwich, CT. The organization was established in 1942. 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 09/2021, Indian Harbor Yacht Club Inc employed 141 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indian Harbor Yacht Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 09/2021, Indian Harbor Yacht Club Inc generated $6.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $5.9m during the year ending 09/2021. While expenses have increased by 2.0% per year over the past 6 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 ENCOURAGE & SUPPORT THE SPORT OF YACHTING, THE ART OF YACHT DESIGNING AND BUILDING, AND THE SCIENCE OF SEAMANSHIP & NAVIGATION FOR THE AMUSEMENT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Marcussen General Manager | Officer | 40 | $172,202 |
Debra Manuele Controller | 40 | $159,056 | |
Joel Labuzetta Waterfront Director | 40 | $126,538 | |
Justin Lozza Executive Chef | 40 | $120,356 | |
Kristin Toretta Secretary | OfficerTrustee | 3 | $0 |
Steven M Levy Vice Commodore | OfficerTrustee | 3 | $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 | $3,302,265 |
| Investment income | $243 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $35,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,757,095 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,591,457 |
| 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. | $279,521 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,488,281 |
| Pension plan accruals and contributions | $28,047 |
| Other employee benefits | $296,429 |
| Payroll taxes | $316,539 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $34,709 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $247,753 |
| Advertising and promotion | $0 |
| Office expenses | $448,337 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $288,065 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $18,838 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $578,337 |
| Insurance | $231,772 |
| All other expenses | $0 |
| Total functional expenses | $5,863,543 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $294,295 |
| Savings and temporary cash investments | $1,707,218 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $961,774 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $129,793 |
| Prepaid expenses and deferred charges | $106,055 |
| Net Land, buildings, and equipment | $6,875,199 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,074,334 |
| Accounts payable and accrued expenses | $339,720 |
| 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 | $365,776 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $694,147 |
| Total liabilities | $1,399,643 |
| Net assets without donor restrictions | $8,674,691 |
| 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 | $10,074,334 |
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