Gilford Park Yacht Club

The information for Gilford Park Yacht Club is as of the organization's most recent filing in December 2019. This organization is located in Toms River, NJ. It has been in existence for 51 years, following its founding in 1968.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Gilford Park Yacht Club's NTEE code is N50. The "N" tells us that the organization is classified along with Recreation & Sports. The "50" tells us that the organization is a Recreational Club. The NTEE describes Recreational Clubs as organizations that make available to members and their guests and facilities for recreational activities, sports and games, as well as social clubs that provide opportunities for people to meet and socialize with their peers.

Every organization is also governed by a specific section of the Internal Revenue Code. The most common type is a 501(c)(3) organization. However, there are actually 29 different types of organizations that are identified by the Internal Revenue Code. This organization happens to be a 501(c)(7) organization. The IRS describes these organizations as those engaged in Social and Recreational Clubs work.

Perhaps the most accurate way to get a sense of what the organization hopes to achieve is by looking at its mission. The mission of the Gilford Park Yacht Club is to provide boat slips and ramps, as well as meeting and dining facilities for its members in the Gilford Park area of Toms River.

Program Areas

Program Area 1: The Clubhouse provides social and recreational activities for its members, and was destroyed in 2012 and rebuilt and reopened in August 2016.

Program Area 2: The Club provides boat slips at its dock for its members to dock their boats.

Program Area 3: The club provides members with a swimming beach, as well as recreational activities for them to enjoy.

Organization Staffing

Gilford Park Yacht Club has 21 employees, none of whom were paid more than $100k according to the organization's most recent 990 tax filing. Supporting the paid staff are 100 volunteers.

Board Governance

Gilford Park Yacht Club is governed by a board of thirteen voting members, all of whom are independent. Board meetings are documented, however there are no policies in place to address potential conflicts of interest, require disclosure of conflicts, or have a written whistleblower policy. Furthermore, there is no document retention policy, nor is there a policy to substantiate and review the salaries of leadership or officers. However, the organization does provide copies of their 990 to the board prior to filing. Overall, Gilford Park Yacht Club has a solid governance structure, though certain policies need to be implemented in order to ensure transparency and accountability.

Organization Growth

The Gilford Park Yacht Club has grown over the past four years, as contributions and grants received have decreased, but program service revenue, other revenue, and total revenue have all increased. In addition, employee salaries have increased, as have total expenses. Total employees have also increased, although total volunteers have remained the same. Overall, the organization has experienced growth in many areas.