The Moorings Club Inc
- Assets
- $60.9m
- Revenue
- $15.4m
- Investments
- $0.0
- Employees
- 327
- Location
- Vero Beach, FL
- Founding
- 03/1983
- Data as of
- 09/2023
- EIN
- 59-2237861
Organization Overview
The Moorings Club Inc is located in Vero Beach, FL. The organization was established in 1983. 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 09/2023, Moorings Club Inc employed 327 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Moorings Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 09/2023, Moorings Club Inc generated $15.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $17.7m during the year ending 09/2023. While expenses have increased by 4.4% per year over the past 8 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
TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDES FOOD, BEVERAGE, GOLF, TENNIS, FITNESS, SPA, AND DOCK FACILITIES AND SERVICES TO APPROXIMATELY 1,000 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chester Kaletkowski Governor | Trustee | 1 | $0 |
Jeb Bittner Vice President | OfficerTrustee | 1 | $0 |
Shanna Macnelly Secretary | OfficerTrustee | 1 | $0 |
Dale Keyser Treasurer | OfficerTrustee | 1 | $0 |
Jim Fulmer Assistant Treasurer | OfficerTrustee | 1 | $0 |
Julie Goodrich Governor | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tideline Staffing Llc Staffing Company | 9/29/23 | $322,781 |
Tee-off Temps - Fellsmere Staffing Company | 9/29/23 | $115,309 |
Colberg Comm Cleaning Cleaning Services | 9/29/23 | $117,632 |
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 | $12,845,403 |
| Investment income | $39,155 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $44,995 |
| Net Gain/Loss on Asset Sales | -$85,315 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,406,578 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,366,480 |
| 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. | $606,141 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,924,860 |
| Pension plan accruals and contributions | $114,191 |
| Other employee benefits | $1,813,835 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $489,653 |
| 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 | $2,220,207 |
| Insurance | $771,017 |
| All other expenses | $1,405,773 |
| Total functional expenses | $17,708,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,004 |
| Savings and temporary cash investments | $20,843,828 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,173,834 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $719,309 |
| Prepaid expenses and deferred charges | $663,440 |
| Net Land, buildings, and equipment | $36,455,385 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $60,949,800 |
| Accounts payable and accrued expenses | $1,444,875 |
| Grants payable | $0 |
| Deferred revenue | $10,029,700 |
| 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 | $974,540 |
| Total liabilities | $12,449,115 |
| Net assets without donor restrictions | $48,500,685 |
| 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 | $60,949,800 |