Toledo Sailing Club
- Assets
- $97.3k
- Revenue
- $167.1k
- Investments
- $0.0
- Employees
- 10
- Location
- Toledo, OH
- Founding
- 10/1983
- Data as of
- 10/2023
- EIN
- 34-6540173
Organization Overview
Toledo Sailing Club is located in Toledo, OH. The organization was established in 1983. 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. As of 10/2023, Toledo Sailing Club employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Toledo Sailing Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 10/2023, Toledo Sailing Club generated $167.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (10.1%) each year. All expenses for the organization totaled $185.4k during the year ending 10/2023. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 4 years. 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
WE ARE A BOATING CLUB THAT PROMOTES FELLOWSHIP AMONGST OUR MEMBERS. WE ALSO PROVIDE DOCKS TO OUR MEMBERS FOR A FEE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING FELLOWSHIP AMONGST MEMBERS
PROVIDING DOCKS FOR THE CONVENIENCE OF MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Hoff Treasurer | Officer | 15 | $1,680 |
Michele Van Dromme Financial Se | Officer | 10 | $1,200 |
April Flynn Commodore | Officer | 5 | $0 |
Chuck Martin Rear Commodo | Officer | 5 | $0 |
Brian Richards Vice Commodo | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $56,865 |
| 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 | $56,865 |
| Total Program Service Revenue | $29,617 |
| Investment income | $510 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $14,753 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $50,628 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $167,084 |
| 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. | $4,380 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,435 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,290 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,863 |
| Advertising and promotion | $515 |
| Office expenses | $2,067 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,719 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,357 |
| Interest | $5,626 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $11,553 |
| All other expenses | $1,447 |
| Total functional expenses | $185,433 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,512 |
| Savings and temporary cash investments | $23,218 |
| 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 | $2,529 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $97,259 |
| 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 | $97,029 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,620 |
| Total liabilities | $101,649 |
| Net assets without donor restrictions | $0 |
| 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 | -$4,390 |
| Total liabilities and net assets/fund balances | $97,259 |