Potomac Boat Club
- Assets
- $929.3k
- Revenue
- $800.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 01/2007
- Data as of
- 12/2023
- EIN
- 53-0127820
Organization Overview
Potomac Boat Club is located in Washington, DC. The organization was established in 2007. 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. Potomac Boat Club 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, Potomac Boat Club generated $800.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $580.8k during the year ending 12/2023. While expenses have increased by 5.6% per year over the past 6 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
THE MUTUAL IMPROVEMENT OF ITS MEMBERS AND THE MAINTENANCE AND ENCOURAGEMENT OF THE ART OF WATER SPORTS AMONG AMATEURS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB HAS 320 MEMBERS AND SUPPORTS THE ENGAGEMENT OF ATHLETES WITH THE SPORT, COMMUNITY, AND RIVER, AT MANY DIFFERENT LEVELS. WE RUN A U.S. ROWING-DESIGNED SUMMER TRAINING CAMP EACH YEAR FOR JUNIOR AND PRE-ELITE ATHLETES, HOST A HIGH-PERFORMANCE SCULLING PROGRAM TO PREPARE PROMISING ATHLETES FOR THE US NATIONAL TEAM, AND ALSO HOUSE A PUBLIC HIGH SCHOOL ROWING PROGRAM - A RELATIONSHIP THAT HAS EXISTED FOR MANY DECADES. IN 2023, POTOMAC BOAT CLUB HOSTED A REGIONAL MEETING OF THE BOARD OF USROWING, THE NATIONAL GOVERNING BODY FOR THE SPORT OF ROWING IN THE UNITED STATES.
THE CLUB ALSO PROVIDES AN OUTLET FOR MEMBERS TO ENGAGE WITH COMMUNITY ORGANIZATIONS RELATED TO AREA PARKS AND RIVER USAGE, SUCH AS THE FRIENDS OF GEORGETOWN WATERFRONT PARK, FRIENDS OF ROCK CREEK PARK, THE NEXT-DOOR KEY BRIDGE BOATHOUSE, THE THOMPSON BOAT CENTER, THE KENNEDY CENTER EXPANSION PROJECT, AND THE POTOMAC RIVERKEEPER NETWORK; AND ORGANIZES RIVERSIDE CLEANUPS WITH THE POTOMAC CONSERVANCY AND THE NATIONAL PARK SERVICE. FINALLY, THE CLUB AND ITS MEMBERS STRIVE TO MAINTAIN THE HISTORY AND HISTORIC PRESENCE AND ARCHITECTURE OF THE CLUB ITSELF, AND THE ENVIRONMENTAL QUALITY OF THE POTOMAC RIVER.
EACH FALL, WEATHER PERMITTING, THE CLUB HOSTS THE SCULLERS' HEAD OF THE POTOMAC REGATTA, WHICH INCLUDES ENTRIES FROM HIGH SCHOOLS, COLLEGES, AND CLUBS THROUGHOUT THE MID-ATLANTIC REGION. THE REGATTA ALSO INCLUDES HANDICAPPED/ADAPTIVE RACES TO BENEFIT THOSE ATHLETES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lena Wang President | OfficerTrustee | 3 | $0 |
Michael Kummer Vice President | OfficerTrustee | 3 | $0 |
Allison Treubert Secretary | OfficerTrustee | 3 | $0 |
Steve Titus Treasurer | OfficerTrustee | 5 | $0 |
Jose Carrasco Governor | Trustee | 1 | $0 |
Carol Dinion Governor - Until 04/2023 | Trustee | 1 | $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 | $89,982 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $89,982 |
| Total Program Service Revenue | $660,158 |
| Investment income | $6,843 |
| 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 | $41,523 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $800,526 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $33,020 |
| Advertising and promotion | $0 |
| Office expenses | $27,775 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,913 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27,531 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,319 |
| Insurance | $47,184 |
| All other expenses | $25,969 |
| Total functional expenses | $580,830 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $179,840 |
| Savings and temporary cash investments | $132,152 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,085 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $600,441 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,750 |
| Total assets | $929,268 |
| Accounts payable and accrued expenses | $9,921 |
| 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 | $0 |
| Other liabilities | $2,500 |
| Total liabilities | $12,421 |
| Net assets without donor restrictions | $916,847 |
| 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 | $929,268 |