Bayport Marina Association Inc
- Assets
- $5.9m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Bayport, MN
- Founding
- Data as of
- 10/2021
- EIN
- 41-1631242
Organization Overview
Bayport Marina Association Inc is located in Bayport, MN. Bayport Marina Association Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 10/2021, Bayport Marina Association Inc generated $2.8m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $2.6m during the year ending 10/2021. While expenses have increased by 4.1% per year over the past 5 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
BAYPORT MARINA STRIVES TO BE THE BEST QUALITY MARINA IN THE MIDWEST BY PROVIDING THE FINEST FULL-SERVICE FACILITIES AND PROFESSIONAL AND COURTEOUS SERVICE TO OUR MEMBERSHIP AND CUSTOMERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE THE BEST QUALITY MARINA IN THE MIDWEST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curt Gray Commodore | OfficerTrustee | 3 | $0 |
John Gagich Secretary | OfficerTrustee | 3 | $0 |
Meredith Pederson Treasurer | OfficerTrustee | 3 | $0 |
Rachael Harvey Vice Commodore | OfficerTrustee | 3 | $0 |
Jason Fabio Chair | Trustee | 0 | $0 |
Erik Westgard Chair | Trustee | 0 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,609,783 |
| Investment income | $156 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $130,665 |
| 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 | $2,767,711 |
| 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. | $105,514 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $775,545 |
| Pension plan accruals and contributions | $26,982 |
| Other employee benefits | $35,010 |
| Payroll taxes | $70,385 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,305 |
| Fees for services: Accounting | $7,580 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,869 |
| Advertising and promotion | $10,379 |
| Office expenses | $39,545 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,997 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,968 |
| Interest | $15,427 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $139,892 |
| Insurance | $96,009 |
| All other expenses | $301,307 |
| Total functional expenses | $2,571,709 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $719,502 |
| Savings and temporary cash investments | $104,214 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $135,041 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $136,045 |
| Prepaid expenses and deferred charges | $34,782 |
| Net Land, buildings, and equipment | $4,729,985 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,695 |
| Other assets | $0 |
| Total assets | $5,869,264 |
| Accounts payable and accrued expenses | $54,133 |
| 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 | $285,395 |
| Other liabilities | $31,923 |
| Total liabilities | $371,451 |
| Net assets without donor restrictions | $5,497,813 |
| 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 | $5,869,264 |
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