New York Yacht Club
- Assets
- $53.2m
- Revenue
- $27.0m
- Investments
- $0.0
- Employees
- 313
- Location
- New York, NY
- Founding
- 08/1934
- Data as of
- 12/2023
- EIN
- 13-1102800
Organization Overview
New York Yacht Club is located in New York, NY. 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 12/2023, New York Yacht Club employed 313 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York 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 12/2023, New York Yacht Club generated $27.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $26.9m during the year ending 12/2023. While expenses have increased by 5.2% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ATTRACT AND BRING TOGETHER A DEDICATED GROUP IN YACHTING (CONTINUE ON SCHEDULE O).
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul M Zabetakis MD Commodore | OfficerTrustee | 3 | $0 |
L Jay Cross Vice Commodore | OfficerTrustee | 3 | $0 |
Clare G Harrington Rear Commodore | OfficerTrustee | 3 | $0 |
Peter P Benedetto II Secretary | OfficerTrustee | 3 | $0 |
John C R Hele Treasurer | OfficerTrustee | 3 | $0 |
Belinda J Shepard Trustee | Trustee | 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 | $14,189,039 |
| Investment income | $681,130 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$400,870 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $12,513,250 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,982,549 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,358,363 |
| 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. | $1,181,474 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,640,151 |
| Pension plan accruals and contributions | $744,666 |
| Other employee benefits | $2,979,726 |
| Payroll taxes | $1,015,288 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,132 |
| Fees for services: Accounting | $48,709 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $47,134 |
| Fees for services: Other | $49,482 |
| Advertising and promotion | $0 |
| Office expenses | $1,464,478 |
| Information technology | $395,869 |
| Royalties | $0 |
| Occupancy | $1,123,570 |
| Travel | $34,641 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $74,884 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,217,096 |
| Insurance | $851,439 |
| All other expenses | $912,065 |
| Total functional expenses | $26,876,531 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,886,602 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,046,655 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $743,245 |
| Prepaid expenses and deferred charges | $1,265,713 |
| Net Land, buildings, and equipment | $35,254,267 |
| Investments—publicly traded securities | $10,044,924 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $53,241,406 |
| Accounts payable and accrued expenses | $2,031,199 |
| Grants payable | $0 |
| Deferred revenue | $947,109 |
| 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 | $224,176 |
| Total liabilities | $3,202,484 |
| Net assets without donor restrictions | $49,851,599 |
| Net assets with donor restrictions | $187,323 |
| 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 | $53,241,406 |
Grants Awarded
Over the last fiscal year, New York Yacht Club has awarded $1,358,363 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NEW YORK YACHT CLUB FOUNDATION PURPOSE: GENERAL SUPPORT | $823,363 |
SAILING FOUNDATION OF NEW YORK PURPOSE: GENERAL SUPPORT | $250,000 |
NEW YORK YACHT CLUB REGATTA ASSOCIATION PURPOSE: GENERAL SUPPORT | $285,000 |