Wawasee Yacht Club
- Assets
- $558.2k
- Revenue
- $109.1k
- Investments
- $0.0
- Employees
- 10
- Location
- Fort Wayne, IN
- Founding
- 02/1996
- Data as of
- 12/2022
- EIN
- 35-1703105
Organization Overview
Wawasee Yacht Club is located in Fort Wayne, IN. The organization was established in 1996. 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 12/2022, Wawasee Yacht Club employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wawasee 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 12/2022, Wawasee Yacht Club generated $109.1k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $123.0k during the year ending 12/2022. 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
FOSTER, PROMOTE AND ENCOURAGE THE SPORT OF SAILBOAT RACING AND TO PROMOTE THE SCIENCE OF SEAMANSHIP. DURING THE SEASON, WYC IS HOME TO FOUR COMPETITIVE ONE-DESIGN FLEETS, A SUCCESSFUL JUNIOR SAILING PROGRAM, AND HOSTS A NUMBER OF PREMIER REGATTAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR OVER 80 YEARS, WYC HAS CONDUCTED SAILBOAT RACES ON LAKE WAWASEE (SYRACUSE, IN) EACH WEEKEND FROM MEMORIAL DAY TO LABOR DAY. FOUR CLASSES OF ONE-DESIGN SAILBOATS (E SCOW / LIGHTNING / SUNFISH / I-20) ALLOWED 55 MEMBERS TO COMPETE IN RACES. IN ADDITION TO WEEKLY SAIL RACES, WYC ALSO ANNUALLY CONDUCTS A NUMBER OF REGATTAS THAT ARE ATTENDED BY SAILORS FROM THE MIDWEST (E SCOW AND HOOSIER REGATTA).
WYC CONDUCTS FIVE WEEKS OF JUNIOR SAILING CLASSES DURING THE SUMMER (JUN - JUL), TEACHING OVER 140 CHILDREN FROM AGES 8 - 16 HOW TO SAIL IN A SAFE, FUN, AND STRUCTURED ENVIRONMENT THAT PROMOTES SPORTSMANSHIP, SELF-DISCIPLINE, SELF-RELIANCE, AND A RESPECT FOR NATURE AND FELLOW SAILORS. THE GOAL IS TO DEVELOP IN EACH CHILD AN APPRECIATION FOR, AND A LOVE OF, SAILING AND CONFIDENCE IN HIS OR HER ABILITY. THE B.W. DUCK MEMORIAL AWARD IS PRESENTED ANNUALLY TO THE WYC JUNIOR SAILING PARTICIPANT WHO IS CONSIDERED TO BE THE "BEST SAILOR" OF THE SEASON. THE ALFRED TAG SNOOK AWARD IS PRESENTED ANNUALLY TO THE WYC JUNIOR SAILING PARTICIPANT WHO BEST DEMONSTRATES "OVERALL EXCELLENCE" IN THE JUNIOR SAILING CLASS. THE HONOREE WILL HAVE DEMONSTRATED THE CORINTHIAN SPIRIT THROUGH OUTSTANDING CLASSROOM WORK, A HIGH LEVEL OF SPORTSMANSHIP, RESPECT FOR OTHERS, AND SOUND SAILING SKILLS.
WYC ALSO HOLDS SOCIAL EVENTS TO FURTHER THE INTEREST IN SAILING AND THE CLUB. IT HOSTS FOUR TO FIVE EVENTS AT THE CLUBHOUSE PLUS FUN SAILING EVENTS (E.G., POKER RUNS) TO SPUR INTEREST IN SAILING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Betsy Berry Commodore | OfficerTrustee | 5 | $0 |
Mike Blackwell Vice Commodore | OfficerTrustee | 5 | $0 |
Gregory Moore Rear Commodore | OfficerTrustee | 3 | $0 |
Dave Newcomer Member At Large | OfficerTrustee | 5 | $0 |
Stephen Wolfer Treasurer | OfficerTrustee | 8 | $0 |
Terry Moorman Secretary | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $60,187 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,315 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $65,502 |
| Total Program Service Revenue | $43,561 |
| Investment income | $3 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $109,066 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,970 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $610 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $63,114 |
| 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 | $19,292 |
| Insurance | $979 |
| All other expenses | $3,053 |
| Total functional expenses | $123,031 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $130,391 |
| 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 | $427,783 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $558,174 |
| Accounts payable and accrued expenses | $920 |
| 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 | $920 |
| Net assets without donor restrictions | $557,254 |
| 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 | $558,174 |