Bay Head Yacht Club
- Assets
- $19.0m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 210
- Location
- Bay Head, NJ
- Founding
- 04/1947
- Data as of
- 12/2021
- EIN
- 21-0403203
Organization Overview
Bay Head Yacht Club is located in Bay Head, NJ. The organization was established in 1947. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Bay Head Yacht Club employed 210 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bay Head 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, Bay Head Yacht Club generated $7.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $7.2m during the year ending 12/2021. While expenses have increased by 5.4% 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 PROMOTE THE INTEREST OF BOATING & ATHLETIC SPORTS.
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 |
|---|---|---|---|
Holly Bilotti General Manager | Officer | 55 | $267,072 |
Richard Heimbuch Executive Chef | 55 | $187,837 | |
Jeffrey Willey Controller | 50 | $182,118 | |
Hugh Hurley Vice Commodore | OfficerTrustee | 5 | $0 |
Caroline Manogue Secretary | OfficerTrustee | 3 | $0 |
James Cadranell Commodore | OfficerTrustee | 5 | $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 | $4,355,387 |
| Investment income | $5,443 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $2,927,551 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,718,492 |
| 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. | $316,967 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,097,870 |
| Pension plan accruals and contributions | $49,000 |
| Other employee benefits | $398,645 |
| Payroll taxes | $585,149 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,002 |
| Fees for services: Accounting | $26,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,993 |
| Advertising and promotion | $0 |
| Office expenses | $266,437 |
| Information technology | $19,547 |
| Royalties | $0 |
| Occupancy | $359,636 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,524 |
| Interest | $242,039 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $792,917 |
| Insurance | $145,878 |
| All other expenses | $185,517 |
| Total functional expenses | $7,203,865 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $800 |
| Savings and temporary cash investments | $777,011 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $182,187 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $136,781 |
| Prepaid expenses and deferred charges | $84,902 |
| Net Land, buildings, and equipment | $17,697,362 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $85,994 |
| Total assets | $18,965,037 |
| Accounts payable and accrued expenses | $392,146 |
| 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 | $8,144,949 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $283,409 |
| Total liabilities | $8,820,504 |
| Net assets without donor restrictions | $10,144,533 |
| 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 | $18,965,037 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Bay Head Yacht Club has recieved totaling $1,800.
| Awarding Organization | Amount |
|---|---|
W & M Kennedy Private Family Foundation Inc New York, NY PURPOSE: CHARITABLE | $1,000 |
The Torosian Foundation Kansas City, MO PURPOSE: SOCIAL SERVICES | $800 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Old Westbury Golf & Country Club Inc Old Westbury, NY | $24,637,751 | $16,881,231 |
Hudson National Golf Club Inc Croton On Hudson, NY | $51,687,185 | $12,086,027 |
Lake Naomi Club Pocono Pines, PA | $31,181,948 | $14,377,164 |
Pine Valley Golf Club Pine Valley, NJ | $27,464,552 | $15,641,646 |
Plainfield Country Club Edison, NJ | $20,539,827 | $10,734,974 |
Glen Ridge Country Club Glen Ridge, NJ | $4,315,456 | $11,200,681 |
Overbrook Golf Club Bryn Mawr, PA | $25,446,093 | $10,373,823 |
Fisher Island Club Inc Fishers Island, NY | $26,382,427 | $9,842,592 |
North Jersey Country Club Inc Wayne, NJ | $12,240,984 | $10,758,532 |
Noyac Golf Club Inc Sag Harbor, NY | $25,263,669 | $11,022,614 |
Huntington Crescent Club Inc Huntington, NY | $18,101,805 | $9,571,803 |
Cedar Hill Golf & Country Club Inc Livingston, NJ | $9,265,709 | $8,374,790 |