Erie Yacht Club Foundation Inc
- Assets
- $1.4m
- Revenue
- $105.8k
- Investments
- $529.3k
- Employees
- 0
- Location
- Erie, PA
- Founding
- 06/2009
- Data as of
- 10/2021
- EIN
- 26-4788788
Organization Overview
Erie Yacht Club Foundation Inc is located in Erie, PA. The organization was established in 2009. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Erie Yacht Club Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 10/2021, Erie Yacht Club Foundation Inc generated $105.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $71.8k during the year ending 10/2021. While expenses have increased by 7.7% 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
THE ERIE YACHT CLUB FOUNDATION WAS ORGANIZED TO SUPPORT, WITHOUT LIMITATION, THE ESTABLISHMENT, PROMOTION, AND OPERATION OF ACTIVITIES WHICH FURTHER THE UNDERSTANDING AND KNOWLEDGE OF SAILING, BOATING, AND THE USE OF WATERCRAFTS OF ALL TYPES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT THE REYBURN SAILING SCHOOL TO INCLUDE AN AT-RISK STUDENT PROGRAM FROM THE COMMUNITY.
OTHER SAILING PROGRAMS AND DEPRECIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlotte Mashyna Chair | OfficerTrustee | 25 | $0 |
Richard Seibel Treasurer | OfficerTrustee | 25 | $0 |
Alex Cox Secretary | OfficerTrustee | 25 | $0 |
William Lillis Vice Chair | OfficerTrustee | 25 | $0 |
Doug Loesel Trustee | Trustee | 25 | $0 |
James Mcbrier Trustee | Trustee | 25 | $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 | $35,281 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,281 |
| Total Program Service Revenue | $0 |
| Investment income | $5,848 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $64,697 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $105,826 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $24,740 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,069 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,103 |
| Advertising and promotion | $0 |
| Office expenses | $5,074 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,843 |
| Insurance | $0 |
| All other expenses | $8,953 |
| Total functional expenses | $71,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,579 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $777,194 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $529,253 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,000 |
| Total assets | $1,375,026 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $887,158 |
| Net assets with donor restrictions | $487,868 |
| 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 | $1,375,026 |
Grants Awarded
Over the last fiscal year, Erie Yacht Club Foundation Inc has awarded $11,300 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Erie, PA PURPOSE: EDUCATIONAL GRANT | $6,300 |
Erie, PA PURPOSE: EDUCATIONAL GRANT | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Erie Yacht Club Foundation Inc has recieved totaling $6,736.
| Awarding Organization | Amount |
|---|---|
Erie Community Foundation Erie, PA PURPOSE: VARIOUS PROJECTS | $6,486 |
M J Surgala Tr Erie, PA PURPOSE: GENERAL FUNDS | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Row New York Inc New York, NY | $11,063,352 | $5,131,305 |
Long Island Swimming Garden City, NY | $5,786,299 | $2,981,330 |
Stony Brook Yacht Club Inc Stony Brook, NY | $1,925,542 | $2,144,649 |
Swiminc Inc Worthington, OH | $829,638 | $1,806,874 |
Hudson River Community Sailing Inc New York, NY | $1,975,748 | $1,753,516 |
Vermilion Boat Club Inc Vermilion, OH | $883,885 | $1,475,888 |
South Jersey Aquatic Club Voorhees, NJ | $176,269 | $1,185,963 |
North Baltimore Aquatic Club Inc Towson, MD | $609,098 | $1,206,837 |
Swim And Racquet Club Columbus, OH | $2,677,814 | $1,163,525 |
West Side Rowing Club Incorporated Of The City Of Buffalo Buffalo, NY | $4,706,391 | $1,097,011 |
Forest Hill Swim Club Inc Ellicott City, MD | $874,185 | $822,025 |
Usa Swimming Inc Blue Bell, PA | $1,171,270 | $977,140 |