Lake Geneva Yacht Club Inc
- Assets
- $2.7m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 48
- Location
- Fontana, WI
- Founding
- Data as of
- 12/2023
- EIN
- 39-1020870
Organization Overview
Lake Geneva Yacht Club Inc is located in Fontana, WI. As of 12/2023, Lake Geneva Yacht Club Inc employed 48 individuals. Lake Geneva Yacht Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Lake Geneva Yacht Club Inc generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $1.6m during the year ending 12/2023. While expenses have increased by 14.6% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE AND MAINTAIN AN INSTITUTION WITH A WORLD CLASS LEVEL OF COMPETITIVE SAILING THAT IS INSTRUCTIONAL AT ALL LEVELS AND MAINTAIN ONE OF THE COUNTRYS FINEST SAILING RACING FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGATTAS, AWARDS AND RESTAURANT - THE CLUB PERIODICALLY SPONSORS SAILING REGATTAS AND HOLDS RECOGNITION EVENTS TO HONOR PARTICIPANTS. THERE IS A RESTAURANT AVAILABLE FOR MEMBER USE. BOAT STORAGE FACITLITIES ARE ALSO AVAILABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Lamphere Commodore | OfficerTrustee | 2 | $0 |
Kristin Gannon Vice Commodore | OfficerTrustee | 2 | $0 |
Jeff Brassel Rear Commodore | OfficerTrustee | 2 | $0 |
Thomas Freytag Retired Commodore | OfficerTrustee | 2 | $0 |
Raymond Wiltgen Treasurer | OfficerTrustee | 2 | $0 |
Julie Navin Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $763,177 |
| 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 | $763,177 |
| Total Program Service Revenue | $282,810 |
| Investment income | $5,696 |
| 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 | $695,327 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,759,659 |
| 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 | $721,082 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $73,561 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,339 |
| Fees for services: Accounting | $32,088 |
| 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 | $675 |
| 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 | $7,654 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $101,545 |
| Insurance | $60,934 |
| All other expenses | $204,882 |
| Total functional expenses | $1,649,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $495,160 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $227,929 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $149,832 |
| Prepaid expenses and deferred charges | $2,733 |
| Net Land, buildings, and equipment | $1,818,648 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,694,302 |
| Accounts payable and accrued expenses | $203,589 |
| Grants payable | $0 |
| Deferred revenue | $653,837 |
| 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 | $88,141 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $945,567 |
| 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 | $1,748,735 |
| Total liabilities and net assets/fund balances | $2,694,302 |