Island Bay Yacht Club
- Assets
- $5.1m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 153
- Location
- Springfield, IL
- Founding
- 08/1936
- Data as of
- 09/2022
- EIN
- 37-0609211
Organization Overview
Island Bay Yacht Club is located in Springfield, IL. The organization was established in 1936. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 09/2022, Island Bay Yacht Club employed 153 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Island Bay 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 09/2022, Island Bay Yacht Club generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $2.6m during the year ending 09/2022. While expenses have increased by 3.8% per year over the past 7 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
TO ENCOURAGE AND FOSTER THE SPORT OF SAILING, YACHTING AND OTHER WHOLESOME RECREATION AND TO PROMOTE FELLOWSHIP AMONG ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PAYMENT OF EXPENSES TO FOSTER THE SPORT OF SAILING, YACHTING AND OTHER WHOLESOME RECREATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Tregoning General Manager | 40 | $111,698 | |
Alex Rabin Rear Commodore/director | OfficerTrustee | 2 | $0 |
Kathy Ridley Secretary/director | OfficerTrustee | 1 | $0 |
Paul Kiel Past Commodore | OfficerTrustee | 1 | $0 |
Chris Hanken Commodore | OfficerTrustee | 3 | $0 |
Ken Day Treasurer | OfficerTrustee | 7 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Servco Companies Kitchen Installation | 9/29/15 | $193,038 |
Servco Equipment Company Kitchen Installation | 9/29/15 | $100,524 |
Rd Lawrence Construction | 9/29/15 | $1,260,376 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,703,378 |
| 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 | $1,703,378 |
| Total Program Service Revenue | $99,001 |
| Investment income | $1,487 |
| 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 | $717,735 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,540,644 |
| 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. | $124,073 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,169,403 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $73,583 |
| Payroll taxes | $141,975 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,179 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,227 |
| Advertising and promotion | $0 |
| Office expenses | $70,021 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $169,965 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $45,444 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $229,107 |
| Insurance | $86,209 |
| All other expenses | $65,222 |
| Total functional expenses | $2,602,125 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $321,925 |
| Savings and temporary cash investments | $368,869 |
| Pledges and grants receivable | $313,181 |
| Accounts receivable, net | $335,149 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $119,783 |
| Prepaid expenses and deferred charges | $29,703 |
| Net Land, buildings, and equipment | $3,615,713 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,104,323 |
| Accounts payable and accrued expenses | $100,540 |
| 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 | $1,396,160 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,496,700 |
| Net assets without donor restrictions | $3,607,623 |
| 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 | $5,104,323 |
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|---|---|---|
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Missouri Athletic Club St Louis, MO | $22,640,194 | $18,091,674 |
Alpha Chi Omega Fraternity Inc Indianapolis, IN | $29,119,055 | $16,507,869 |
Butterfield Country Club Oak Brook, IL | $37,524,568 | $14,281,799 |
University Club Of Chicago Chicago, IL | $40,558,650 | $14,990,991 |
Bellerive Country Club Saint Louis, MO | $30,118,733 | $15,442,843 |
Alpha Chi Omega National Housing Corporation Indianapolis, IN | $68,106,791 | $16,027,721 |
National Association Of Intercollegiate Athletics Kansas City, MO | $12,204,653 | $13,287,204 |
Big Spring Country Club Inc Louisville, KY | $27,849,226 | $12,028,840 |
Westmoreland Country Club Wilmette, IL | $31,536,434 | $12,960,463 |
St Louis Country Club Saint Louis, MO | $23,333,122 | $12,315,220 |
Skokie Country Club Glencoe, IL | $25,480,990 | $12,823,319 |