Carolina Yacht Club
- Assets
- $19.5m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 182
- Location
- Charleston, SC
- Founding
- Data as of
- 02/2022
- EIN
- 57-0136200
Organization Overview
Carolina Yacht Club is located in Charleston, SC. As of 02/2022, Carolina Yacht Club employed 182 individuals. Carolina 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 02/2022, Carolina Yacht Club generated $7.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $6.7m during the year ending 02/2022. While expenses have increased by 1.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SOCIAL CLUB ORGANIZED FOR PLEASURE,RECREATION AND OTHER NON-PROFITABLE PURPOSES OF MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLUBHOUSE & BOATHOUSE RESTAURANT OPERATION-ALL MEMBERS AND THEIR GUESTS CAN BENEFIT
CLUBHOUSE & BOATHOUSE BANQUET OPERATIONS-ALL MEMBERS AND GUESTS CAN BENEFIT
SAILING & SPECIAL EVENTS-ALL MEMBERS AND GUESTS CAN BENEFIT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zachary Haylash General Manager | Officer | 40 | $201,774 |
Forest D Suggs III Vice Commodore | OfficerTrustee | 10 | $0 |
Morgan Stuart Templeton Solicitor | OfficerTrustee | 1 | $0 |
Andrew C Hagood Commodore | OfficerTrustee | 15 | $0 |
Thomas G Trouche Secretary/treasurer | OfficerTrustee | 1 | $0 |
Dr Peter Gaillard Smith Fleet Surgeon | 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 | $13,600 |
| Noncash contributions included in lines 1a–1f | $13,600 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,600 |
| Total Program Service Revenue | $5,710,801 |
| Investment income | $2,481 |
| 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 | $2,129,332 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,862,218 |
| 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. | $215,785 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,838,295 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $296,169 |
| Payroll taxes | $268,896 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,443 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,000 |
| Fees for services: Other | $150,573 |
| Advertising and promotion | $72,935 |
| Office expenses | $262,108 |
| Information technology | $32,493 |
| Royalties | $0 |
| Occupancy | $820,135 |
| Travel | $10,625 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,576 |
| Interest | $137,354 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $821,988 |
| Insurance | $304,461 |
| All other expenses | $0 |
| Total functional expenses | $6,718,748 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,215,721 |
| Savings and temporary cash investments | $7,302,557 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $818,890 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $132,668 |
| Prepaid expenses and deferred charges | $132,860 |
| Net Land, buildings, and equipment | $9,931,902 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,534,598 |
| Accounts payable and accrued expenses | $443,054 |
| Grants payable | $0 |
| Deferred revenue | $53,821 |
| 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 | $3,644,135 |
| Other liabilities | $0 |
| Total liabilities | $4,141,010 |
| Net assets without donor restrictions | $15,393,588 |
| 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 | $19,534,598 |
Endowment Analysis
| Beg. Balance | $869,127 |
| Earnings | -$4,455 |
| Ending Balance | $864,672 |
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