Biscayne Bay Yacht Club
- Assets
- $9.2m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 24
- Location
- Miami, FL
- Founding
- 11/1950
- Data as of
- 04/2022
- EIN
- 59-0165090
Organization Overview
Biscayne Bay Yacht Club is located in Miami, FL. The organization was established in 1950. 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 04/2022, Biscayne Bay Yacht Club employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Biscayne 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 04/2022, Biscayne Bay Yacht Club generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $2.1m during the year ending 04/2022. While expenses have increased by 5.3% per year over the past 7 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
ENCOURAGEMENT,IMPROVEMENT AND ENJOYMENT OF SAILING & ENJOYMENT OF SOCIAL CONTACT & ENTERTAINMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDES FOOD, BEVERAGE, AND DOCK FACILITIES AND SERVICES TO APPROXIMATELY 360 MEMBERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neal Chanda General Manager | Officer | 40 | $150,316 |
Eric Thyrre Commodore | OfficerTrustee | 10 | $0 |
Jeffrey Nehms Vice Commodore | OfficerTrustee | 10 | $0 |
Tait C Keon Treasurer | OfficerTrustee | 12 | $0 |
John M Pennekamp Secretary | OfficerTrustee | 10 | $0 |
Wirth T Munroe Rear Commodore | OfficerTrustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dock & Marine Construction Corp Construction | 4/29/20 | $119,200 |
Mahoney Construction Inc Construction | 4/29/20 | $102,249 |
Dock & Marine Construction Corp Construction | 4/29/20 | $119,200 |
Mahoney Construction Inc Construction | 4/29/20 | $102,249 |
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 | $1,678,873 |
| Investment income | $151,664 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,120 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $606,631 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,457,875 |
| 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. | $152,503 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $558,721 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $78,242 |
| Payroll taxes | $52,650 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $112,996 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $66,131 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $370,614 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $197,101 |
| Insurance | $181,182 |
| All other expenses | $0 |
| Total functional expenses | $2,089,384 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $855,458 |
| Savings and temporary cash investments | $180,537 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $207,477 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $56,362 |
| Prepaid expenses and deferred charges | $80,772 |
| Net Land, buildings, and equipment | $4,071,004 |
| Investments—publicly traded securities | $3,720,698 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,770 |
| Total assets | $9,181,078 |
| Accounts payable and accrued expenses | $155,192 |
| Grants payable | $0 |
| Deferred revenue | $932,440 |
| 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 | $0 |
| Total liabilities | $1,087,632 |
| Net assets without donor restrictions | $8,093,446 |
| 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 | $9,181,078 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ansley Golf Club Atlanta, GA | $48,365,690 | $21,052,650 |
Royal Palm Yacht & Country Club Boca Raton, FL | $46,256,364 | $15,345,430 |
Palm Beach Country Club Palm Beach, FL | $28,111,995 | $21,230,123 |
The Club At Pelican Bay Inc Naples, FL | $49,551,991 | $15,480,224 |
United States Specialty Sports Association Inc Melbourne, FL | $30,501,525 | $19,243,372 |
Alpha Delta Pi Sorority Atlanta, GA | $18,755,038 | $19,005,623 |
Quail Ridge Country Club Inc Boynton Beach, FL | $44,841,038 | $11,345,026 |
Quail Creek Country Club Inc Naples, FL | $44,189,570 | $16,205,695 |
Lagorce Country Club Miami Beach, FL | $36,015,198 | $11,628,028 |
Amateur Athletic Union Of The United States Inc Lake Buena Vista, FL | $14,686,196 | $10,174,860 |
Harbour Ridge Country Club Palm City, FL | $48,715,310 | $11,636,786 |
Dunwoody Country Club Inc Atlanta, GA | $25,487,572 | $16,307,962 |