Wicomico Yacht Club Inc
- Assets
- $1.4m
- Revenue
- $297.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Allen, MD
- Founding
- 03/1964
- Data as of
- 11/2023
- EIN
- 52-0732193
Organization Overview
Wicomico Yacht Club Inc is located in Allen, MD. The organization was established in 1964. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, 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. Wicomico 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 11/2023, Wicomico Yacht Club Inc generated $297.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (8.3%) each year. All expenses for the organization totaled $341.2k during the year ending 11/2023. As we would expect to see with falling revenues, expenses have declined by (6.0%) per year over the past 4 years. 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
PROVIDE DOCKING AND OTHER SERVICES TO MEMBERS OF CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRIVATE YACHT CLUB: 98 FULL MEMBERS; 204 ASSOCIATE MEMBERS; 6 HONORARY MEMBERS
DOCKING FEES: CHARGED TO MEMBERS USING FACILITY ACCORDING TO SIZE AND COVERED OR UNCOVERED BERTH
BASIC RESTAURANT TO MEMBERS FOR CONVENIENCE. AVAILABLE ONLY TO MEMBERS AND THEIR GUESTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Mccurdy Commodore | Officer | 4 | $0 |
Ann Nelson Vice Commodore | Officer | 3 | $0 |
Michael Carey Rear Commodore | Officer | 2 | $0 |
Rebecca Ramia Fleet Captain | Officer | 3 | $0 |
J Mccurdy Treasurer | Officer | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $191,396 |
| 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 | $191,396 |
| Total Program Service Revenue | $82,188 |
| Investment income | $0 |
| 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 | -$40,060 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $297,107 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,935 |
| 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 | $6,563 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,394 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $34,455 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,661 |
| Insurance | $40,450 |
| All other expenses | $58,596 |
| Total functional expenses | $341,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,044 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $13,847 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,330,562 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,430,453 |
| Accounts payable and accrued expenses | $4,013 |
| 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 | $469,202 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $473,215 |
| Net assets without donor restrictions | $957,238 |
| 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 | $1,430,453 |