Chicago Yacht Club Foundation Inc
- Assets
- $1.7m
- Revenue
- $218.8k
- Investments
- $1.5m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 02/1995
- Data as of
- 12/2021
- EIN
- 36-3733864
Organization Overview
Chicago Yacht Club Foundation Inc is located in Chicago, IL. The organization was established in 1995. 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. Chicago 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 12/2021, Chicago Yacht Club Foundation Inc generated $218.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $84.2k during the year ending 12/2021. 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 MISSION OF THE CHICAGO YACHT CLUB FOUNDATION SHALL BE TO PROMOTE AWARENESS AND APPRECIATION OF THE NAUTICAL ARTS AND TRADITIONS TO THE CHICAGOLAND COMMUNITY THROUGH EDUCATION, OUTREACH AND OTHER ACTIVITIES, AS WELL AS THROUGH THE SUPPORT OF LIKE-MINDED CHARITABLE ORGANIZATIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE NAUTICAL ARTS, THE FOUNDATION BEGAN A SAIL SAFETY AND TRAINING PROGRAM WITH THE RICKOVER NAVAL ACADEMY IN 2008. RICKOVER IS ONE OF SEVERAL MILITARY ACADEMIES IN THE CHICAGO PUBLIC SCHOOL SYSTEM AND IS LOCATED WITHIN SENN PUBLIC HIGH SCHOOL IN THE EDGEWATER COMMUNITY.THE RICKOVER RACING SAIL PROGRAM FOLLOWS A STRONG FORMAT OF CONSISTENT CURRICULUM, INSTRUCTION AND SCHEDULING. THROUGH A PARTNERSHIP, CYC FOUNDATION SUPPORTS THE RICKOVER ACADEMY JNROTC RACING TEAM BY SUPPLYING SAFETY EQUIPMENT, SAIL TRAINING AND TRANSPORTATION.
THE FOUNDATION OFFERS GRANTS IN AID IN THREE CATEGORIES: SAILING EDUCATION, REGATTA AND CLINIC PARTICIPATION, AND MARITIME ORGANIZATION GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerry Bober President | OfficerTrustee | 10 | $0 |
Cyd Archer Vice President | OfficerTrustee | 2 | $0 |
Michael Belsley Secretary | OfficerTrustee | 2 | $0 |
Christy Coon Treasurer | OfficerTrustee | 5 | $0 |
Matt Gallagher Director | Trustee | 2 | $0 |
Steven Salk General Counsel | Trustee | 2 | $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 | $192,649 |
| Noncash contributions included in lines 1a–1f | $14,618 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $192,649 |
| Total Program Service Revenue | $0 |
| Investment income | $25,098 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,036 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $218,783 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $59,455 |
| 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 | $6,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,383 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,827 |
| Office expenses | $2,612 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $6,946 |
| Total functional expenses | $84,223 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $172,375 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,822 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,466,262 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,000 |
| Total assets | $1,668,459 |
| Accounts payable and accrued expenses | $4,079 |
| 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 | $4,079 |
| Net assets without donor restrictions | $1,538,267 |
| Net assets with donor restrictions | $126,113 |
| 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 | $1,668,459 |
Grants Awarded
Over the last fiscal year, Chicago Yacht Club Foundation Inc has awarded $22,680 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: SAILING EVENT | $15,000 |
Suttons Bay, MI PURPOSE: SAILING EVENT FOR FEMALE HIGH SCHOOL SAILORS | $7,680 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Chicago Yacht Club Foundation Inc has recieved totaling $19,922.
| Awarding Organization | Amount |
|---|---|
Townsend Family Foundation Ltd Chicago, IL PURPOSE: EDUCATIONAL | $5,000 |
The Fritz And Mary Lee Duda Family Foundation Dallas, TX PURPOSE: 2021 CHICAGO REGATTA FUNDRAISER | $5,000 |
Helmsmanship Inc Chicago, IL PURPOSE: 501C3 NON PROFIT ORGANIZATION | $4,500 |
Stone Barrett Foundation Chicago, IL PURPOSE: UNRESTRICTED | $4,050 |
R & R Winters Family Foundation Lockport, IL PURPOSE: GENERAL CHARITABLE | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $372 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Grow Boating Inc Chicago, IL | $0 | $3,002,017 |
Usa Swimming Inc Rolling Meadows, IL | $1,062,881 | $1,962,511 |
Carmel Swim Club Carmel, IN | $1,078,759 | $1,620,809 |
Walter Schroeder Aquatic Center Ltd Brown Deer, WI | $2,876,227 | $1,771,521 |
New Trier Aquatics Winnetka, IL | $670,855 | $1,422,426 |
Hinsdale Swim Club Hinsdale, IL | $218,459 | $1,100,426 |
Waukesha Express Swim Team Inc Waukesha, WI | $109,829 | $1,001,501 |
Usa Swimming Inc New London, WI | $201,918 | $903,511 |
Downers Grove Swim And Raquet Club Downers Grove, IL | $1,117,120 | $881,688 |
West Swim Club Inc Willowbrook, IL | $811,668 | $867,248 |
Southeastern Swim Club Incorporated Fishers, IN | $283,230 | $634,562 |
Sailing Education Association Of Sheboygan Inc Sheboygan, WI | $3,043,659 | $639,193 |