Chicago Yacht Club Foundation Inc
- Assets
- $1.8m
- Revenue
- $524.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 02/1995
- Data as of
- 12/2022
- 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 12/2022, Chicago Yacht Club Foundation Inc generated $524.2k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.6% each year . All expenses for the organization totaled $169.6k during the year ending 12/2022. While expenses have increased by 6.5% per year over the past 8 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
THE MISSION OF THE CHICAGO YACHT CLUB FOUNDATION IS TO BRING THE JOYS AND BENEFITS OF BOATING TO ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPEN HORIZONS: THE FOUNDATION SERVES AS THE PLATINUM SPONSOR OF THE OPEN HORIZONS YOUTH SAILING PROGRAM, AN INITIATIVE OF THE JACKSON PARK YACHT CLUB FOUNDATION. THE OPEN HORIZONS PROGRAM TARGETS LOW-INCOME, AT-RISK YOUTH OF COLOR (AGES 8 TO 18) AND TEACHES THEM LEADERSHIP, TEAMWORK, RESILIENCE, AND CONFLICT RESOLUTION SKILLS THROUGH SAILING. THROUGH CLASSROOM AND ON-WATER ACTIVITIES, THE OPEN HORIZONS PROGRAM COVERS TRADITIONAL SAILING SKILLS (E.G., NAUTICAL TERMS, POINTS OF SAIL AND SAFETY) AS WELL AS MANY OTHER SKILLS THAT KIDS NEED TO SUCCEED IN TODAY'S WORLD. THE OPEN HORIZONS PROGRAM RUNS IN FIVE DIFFERENT SESSIONS THROUGH THE SUMMER AND SERVES MORE THAN 200 KIDS IN THE ENGLEWOOD AND SOUTH SHORE COMMUNITIES.
OTHER PROGRAMS CONSISTENT WITH THE ORGANIZATION'S MISSION, INCLUDING CONTRIBUTIONS TO SUPPORT A SAILING EXHIBIT AT THE CHICAGO CHILDREN'S MUSEUM AND OTHER PROGRAMS BENEFITING THE YOUTH AND UNDERSERVED IN THE CHICAGOLAND AREA.
SAILING CAMPS: SOS CHILDREN'S VILLAGES ILLINOIS WORKS TO UNITE CHILDREN IN FOSTER CARE, SURROUND THEM WITH A COMMUNITY OF HOPE, AND HELP THEM GROW INTO CARING AND PRODUCTIVE ADULTS. IN PARTNERSHIP WITH SOS ILLINOIS AND THE CHICAGO YACHT CLUB SAILING SCHOOL, THE FOUNDATION HAS CREATED A SAILING CAMP FOR SOS ILLINOIS CHILDREN AGED 8-14 WHO ARE INTERESTED IN LEARNING TO SAIL. DURING THIS IMMERSIVE EXPERIENCE, STUDENTS LEARN HOW TO SAIL, BUT ALSO LEARN ABOUT STEM SUBJECTS AND BUILD TEAMWORK SKILLS.
LEAD HER SHIP: EACH YEAR, UP TO TEN YOUNG WOMEN AGES 14-17 EMBARK ON A FIVE-DAY CRUISE ON A TALL SHIP, THE INLAND SEAS, IN LAKE MICHIGAN. DURING THE CRUISE, THESE WOMEN LEARN TO SAIL, LEARN ABOUT GREAT LAKES ECOLOGY, AND ALSO LEARN HOW TO LEAD AND WORK TOGETHER AS A TEAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Miarecki President | OfficerTrustee | 10 | $0 |
Cyd Archer Vice President | OfficerTrustee | 2 | $0 |
Chuck Anderson Treasurer | OfficerTrustee | 5 | $0 |
Erin Mitchell Secretary | OfficerTrustee | 2 | $0 |
Michael Belsley Director | Trustee | 2 | $0 |
John Benish Director | 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 | $497,002 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $497,002 |
| Total Program Service Revenue | $0 |
| Investment income | $26,960 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $250 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $524,212 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $116,938 |
| 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 | $11,607 |
| Fees for services: Accounting | $5,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,500 |
| Advertising and promotion | $10,667 |
| Office expenses | $9,702 |
| 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 | $352 |
| Insurance | $7,120 |
| All other expenses | $728 |
| Total functional expenses | $169,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $280,955 |
| Savings and temporary cash investments | $200,455 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,738 |
| 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 | $3,868 |
| Investments—publicly traded securities | $1,237,478 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,000 |
| Total assets | $1,775,494 |
| Accounts payable and accrued expenses | $12,055 |
| 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 | $12,055 |
| Net assets without donor restrictions | $1,647,649 |
| Net assets with donor restrictions | $115,790 |
| 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 | $1,775,494 |
Grants Awarded
Over the last fiscal year, Chicago Yacht Club Foundation Inc has awarded $69,530 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
INLAND SEAS EDUCATION ASSOCIATION PURPOSE: SALING EVENT FOR FEMALE HIGH SCHOOL SAILORS | $7,530 |
CHICAGO CHILDRENS MUSEUM PURPOSE: BOATING EXHIBIT SPONSOR | $50,000 |
JACKSON PARK YACHT CLUB FOUNDATION PURPOSE: OPEN HORIZONS YOUTH SAILING PROGRAM | $12,000 |