Chesapeake Yacht Club Inc
- Assets
- $6.0m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 46
- Location
- Shady Side, MD
- Founding
- 09/1967
- Data as of
- 09/2022
- EIN
- 52-0619023
Organization Overview
Chesapeake Yacht Club Inc is located in Shady Side, MD. The organization was established in 1967. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 09/2022, Chesapeake Yacht Club Inc employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chesapeake 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 09/2022, Chesapeake Yacht Club Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $1.9m during the year ending 09/2022. While expenses have increased by 9.3% 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
YACHTING SOCIAL CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTALS/FUEL/SALES: THE YACHT CLUB PROVIDES MEMBERS ACCESS TO CLUB DOCK FACILITIES AND USE OF THE CLUBHOUSE. FUEL IS SOLD TO MEMBERS FROM A FUEL DOCK AND A SMALL STORE SELLS MEMBERS ESSENTIAL BOATING ITEMS.
DINING ROOM/LOUNGE: MEALS ARE SOLD TO MEMBERS DURING WEEKENDS DURING THE SAILING SEASON. THE LOUNGE SELLS BEVERAGES TO MEMBERS.
CRUISES/SOCIAL ACTIVITIES: SPECIAL EVENTS ARE ORGANIZED FOR CLUB MEMBERS SUCH AS CRUISES, PARTIES, DANCES, AND PICNICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jake Lewis Governor | Trustee | 2 | $0 |
Bob Daley Governor | Trustee | 2 | $0 |
Joan Stansfield Governor | Trustee | 2 | $0 |
Tom Rohrbaugh Governor | Trustee | 2 | $0 |
Sheri Nelms Commodore | Officer | 2 | $0 |
Mark Shell Vice Commodore | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $491,723 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $106,750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $598,473 |
| Total Program Service Revenue | $1,206,298 |
| Investment income | $455 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,832,753 |
| 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 | $440,137 |
| Pension plan accruals and contributions | $2,814 |
| Other employee benefits | $14,565 |
| Payroll taxes | $43,810 |
| Fees for services: Management | $3,600 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $57,008 |
| Office expenses | $6,641 |
| 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 | $211,520 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $439,682 |
| Insurance | $50,604 |
| All other expenses | $87,543 |
| Total functional expenses | $1,880,369 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $122,715 |
| Savings and temporary cash investments | $298,561 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $232,589 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $40,755 |
| Prepaid expenses and deferred charges | $94,066 |
| Net Land, buildings, and equipment | $5,154,818 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $65,623 |
| Other assets | $0 |
| Total assets | $6,009,127 |
| Accounts payable and accrued expenses | $186,240 |
| Grants payable | $0 |
| Deferred revenue | $568,284 |
| 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 | $4,929,008 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,683,532 |
| 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 | $325,595 |
| Total liabilities and net assets/fund balances | $6,009,127 |