Selby Bay Yacht Club
- Assets
- $1.1m
- Revenue
- $417.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Edgewater, MD
- Founding
- 05/1991
- Data as of
- 09/2022
- EIN
- 53-6009607
Organization Overview
Selby Bay Yacht Club is located in Edgewater, MD. The organization was established in 1991. 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. Selby Bay Yacht Club 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, Selby Bay Yacht Club generated $417.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $358.2k during the year ending 09/2022. 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
PROMOTE THE SPORT OF BOATING AND PROVIDE RELATED SERVICES AND FACILITIES TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE THE SPORT OF BOATING AND PROVIDE SERVICES AND FACILITIES TO ITS MEMBERS IN CONNECTION THEREWITH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allan Lesser Commodore | Officer | 4 | $0 |
Phil Schiff Rear Commodore | Officer | 2 | $0 |
Brian Weil Vice Commodore | Officer | 2 | $0 |
Michael Dodd Fleet Captain | Officer | 5 | $0 |
Debbie Arey Secretary | Officer | 5 | $0 |
Jeff Mckinney Treasurer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $210,422 |
| 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 | $210,422 |
| Total Program Service Revenue | $200,839 |
| Investment income | $1,348 |
| 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 | $417,050 |
| 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 | $56,256 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,500 |
| Payroll taxes | $2,746 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,150 |
| 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 | $3,420 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $53,813 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $47,203 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $101,579 |
| Insurance | $30,603 |
| All other expenses | $0 |
| Total functional expenses | $358,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $441,265 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,530 |
| 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 | $2,625 |
| Net Land, buildings, and equipment | $626,502 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $13,490 |
| Other assets | $0 |
| Total assets | $1,085,412 |
| Accounts payable and accrued expenses | $3,896 |
| 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 | $1,145,234 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,852 |
| Total liabilities | $1,150,982 |
| Net assets without donor restrictions | -$65,570 |
| 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 | $1,085,412 |
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