Erie Yacht Club
- Assets
- $9.6m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 145
- Location
- Erie, PA
- Founding
- 09/1972
- Data as of
- 10/2022
- EIN
- 25-0466730
Organization Overview
Erie Yacht Club is located in Erie, PA. The organization was established in 1972. 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 10/2022, Erie Yacht Club employed 145 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Erie 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 10/2022, Erie Yacht Club generated $4.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $3.5m during the year ending 10/2022. While expenses have increased by 2.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF YACHTING AND BOATING FACILITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
BOATING: THE CLUB MAINTAINS ITS YACHTING AND BOATING FACILITIES IN ORDER TO ENCOURAGE AND DEVELOP YACHTING AND BOATING ACTIVITIES AMONG ITS MEMBERSHIP.
RESTAURANT AND BAR: THE CLUB MAINTAINS A RESTAURANT AND BAR TO PROMOTE SOCIAL AND RECREATIONAL ACTIVITIES FOR ITS MEMBERS IN CONNECTION WITH THE BOATING ACTIVITIES OUTLINED IN "LINE 4A" ABOVE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Lynch General Manager | Officer | 40 | $137,627 |
Thomas A Bedner General Manager | Officer | 40 | $28,019 |
David Wagner Secretary/treasurer | Officer | 10 | $5,000 |
Michael Squeglia Rear Commodore | OfficerTrustee | 5 | $0 |
Vincent Cifelli Past Commodore | OfficerTrustee | 10 | $0 |
David Sanner 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 | $3,095,338 |
| Investment income | $0 |
| 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 | $1,151,207 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,246,545 |
| 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. | $177,531 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,157,899 |
| Pension plan accruals and contributions | $16,600 |
| Other employee benefits | $128,407 |
| Payroll taxes | $158,025 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,924 |
| Fees for services: Accounting | $9,000 |
| 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 | $61,047 |
| Information technology | $45,109 |
| Royalties | $0 |
| Occupancy | $273,069 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $361 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $444,480 |
| Insurance | $94,711 |
| All other expenses | $86,352 |
| Total functional expenses | $3,482,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,584 |
| Savings and temporary cash investments | $1,544,244 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $213,311 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $102,822 |
| Prepaid expenses and deferred charges | $47,917 |
| Net Land, buildings, and equipment | $7,577,739 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,557,617 |
| Accounts payable and accrued expenses | $91,575 |
| Grants payable | $0 |
| Deferred revenue | $153,084 |
| 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 | $244,659 |
| Net assets without donor restrictions | $9,312,958 |
| 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 | $9,557,617 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Erie Yacht Club has recieved totaling $11,470.
| Awarding Organization | Amount |
|---|---|
United Way Of Erie County Erie, PA PURPOSE: POC | $6,070 |
United Way Of Erie County Erie, PA PURPOSE: POC | $5,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Canoe Brook Country Club Summit, NJ | $49,012,793 | $22,669,304 |
Delta Zeta National Housing Corporation Oxford, OH | $87,996,446 | $22,719,151 |
Glen Oaks Club Inc Old Westbury, NY | $13,779,705 | $20,068,781 |
Saucon Valley Country Club Bethlehem, PA | $67,852,931 | $24,203,066 |
Sleepy Hollow Country Club Westchester Scarborough, NY | $36,824,085 | $23,136,850 |
Columbia Country Club Chevy Chase, MD | $51,891,404 | $22,067,092 |
Piping Rock Club Locust Valley, NY | $31,334,038 | $17,059,500 |
Philadelphia Cricket Club Philadelphia, PA | $37,903,760 | $20,280,729 |
Rolling Rock Club Ligonier, PA | $40,965,761 | $18,300,601 |
Oak Hill Country Club Rochester, NY | $24,513,885 | $17,798,483 |
The Ridgewood Country Club Paramus, NJ | $31,275,344 | $17,956,980 |
Montclair Golf Club Montclair, NJ | $32,931,083 | $17,687,834 |