Norfolk Yacht & Country Club
- Assets
- $16.0m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 277
- Location
- Norfolk, VA
- Founding
- 12/1966
- Data as of
- 12/2021
- EIN
- 54-0321610
Organization Overview
Norfolk Yacht & Country Club is located in Norfolk, VA. The organization was established in 1966. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Norfolk Yacht & Country Club employed 277 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norfolk Yacht & Country Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Norfolk Yacht & Country Club generated $6.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $6.8m during the year ending 12/2021. While expenses have increased by 2.5% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
EXEMPT SOCIAL CLUB THAT PROVIDES FACILITIES TO ITS MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS AN EXEMPT SOCIAL CLUB THAT PROVIDES COUNTRY CLUB FACILITIES TO ITS MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Underwood General Manager | Officer | 40 | $243,911 |
Jason A Mueller Tennis Pro | 40 | $127,955 | |
James M Riddle Facility Manager | 40 | $112,360 | |
David Chase Treasurer | Trustee | 4 | $4,320 |
J Patrick Baker President | Trustee | 4 | $4,320 |
John Murray Vice President | Trustee | 4 | $4,320 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Paul Walker Electric Electrical Work | 12/30/21 | $183,520 |
Us Foods Food | 12/30/21 | $114,413 |
Performance Food Service Va Food | 12/30/21 | $480,769 |
Hoy Construction Clubhouse Renovation | 12/30/21 | $3,400,105 |
Professional Heating And Cooling Hvac Repair | 12/30/21 | $179,149 |
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 | $5,530,563 |
| Investment income | $10 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$481,852 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,425,648 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,537,633 |
| 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. | $277,483 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,479,626 |
| Pension plan accruals and contributions | $66,814 |
| Other employee benefits | $254,766 |
| Payroll taxes | $267,331 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,007 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,745 |
| Advertising and promotion | $4,507 |
| Office expenses | $49,304 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $87,504 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $439 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $644,850 |
| Insurance | $244,916 |
| All other expenses | $711,399 |
| Total functional expenses | $6,811,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,309,021 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $448,474 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $137,912 |
| Prepaid expenses and deferred charges | $132,941 |
| Net Land, buildings, and equipment | $13,891,303 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $40,679 |
| Total assets | $15,960,330 |
| Accounts payable and accrued expenses | $275,711 |
| Grants payable | $0 |
| Deferred revenue | $20,122 |
| 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 | $5,745,219 |
| Unsecured mortgages and notes payable | $620,239 |
| Other liabilities | $0 |
| Total liabilities | $6,661,291 |
| Net assets without donor restrictions | $9,299,039 |
| 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 | $15,960,330 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Farmington Country Club Inc Charlottesville, VA | $52,436,644 | $25,257,129 |
Columbia Country Club Chevy Chase, MD | $51,891,404 | $22,067,092 |
Washington Golf And Country Club Inc Arlington, VA | $48,455,931 | $21,067,505 |
Charlotte Country Club Inc Charlotte, NC | $46,999,419 | $24,642,018 |
Carolina Country Club Company Raleigh, NC | $25,311,282 | $14,725,345 |
Delta Sigma Theta Sorority Inc Washington, DC | $54,155,945 | $17,762,087 |
Hillwood Country Club Nashville, TN | $28,189,115 | $15,197,355 |
Belle Meade Country Club Nashville, TN | $42,979,255 | $14,973,436 |
River Bend Golf & Country Club Inc Great Falls, VA | $31,856,555 | $12,190,244 |
Greensboro Country Club Incorporated Greensboro, NC | $22,272,638 | $13,710,701 |
Annapolis Yacht Club Inc Annapolis, MD | $62,193,115 | $12,813,958 |
Westwood Country Club Inc Vienna, VA | $44,254,499 | $15,210,474 |