Fairhope Yacht Club
- Assets
- $6.9m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 78
- Location
- Fairhope, AL
- Founding
- 10/1986
- Data as of
- 12/2021
- EIN
- 63-0249756
Organization Overview
Fairhope Yacht Club is located in Fairhope, AL. The organization was established in 1986. 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, Fairhope Yacht Club employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairhope 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 12/2021, Fairhope Yacht Club generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 3.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PURPOSE IS TO SUPPORT AND ENCOURAGE THE SPORT OF YACHTING, INCLUDING SAILING, RACING, POWER BOATING AND CRUISING
Describe the Organization's Program Activity:
Part 3 - Line 4a
HARBOR SLIPS; SAILING AND POWER BOAT SLIPS WITH BOAT RAMP AND TWO HOISTS - 400+ INVOLVED MEMBERS
JR SAILING AND TRAINING PROGRAMS - 3 HIGH SCHOOL PROGRAMS FOR LOCAL HIGH SCHOOL STUDENTS ALSON WITH JR YACHT CLUB RACE & REGATTA INCLUDING FLEET, COMMITTEE BOAT AND OTHER REGATTAS
MAINSHEET - INFORMATION PUBLICATION
ALL OTHER RELATED PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pat Colvin Office Manager | Officer | 40 | $50,457 |
Kevin Brooks Bar & Rest Mgr/chef | Officer | 40 | $41,200 |
Matthew Brown Bar & Rest Mgr/chef | Officer | 40 | $28,721 |
Scott Hartwell Board Member | Officer | 16 | $0 |
Carl Weckmen Board Member | Trustee | 8 | $0 |
Don Faircloth Board Member | Trustee | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $663,906 |
| Fundraising events | $1,357 |
| Related organizations | $0 |
| Government grants | $116,012 |
| All other contributions, gifts, grants, and similar amounts not included above | $219,297 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,000,572 |
| Total Program Service Revenue | $312,590 |
| Investment income | $62 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,333 |
| 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 | $603,422 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,926,688 |
| 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. | $192,341 |
| Compensation of current officers, directors, key employees. | $146,455 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $375,119 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,641 |
| Payroll taxes | $68,928 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $16,092 |
| Office expenses | $56,088 |
| Information technology | $17,441 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,525 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $43,785 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $317,500 |
| Insurance | $179,100 |
| All other expenses | $126,847 |
| Total functional expenses | $1,800,932 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $321,041 |
| Savings and temporary cash investments | $472,104 |
| Pledges and grants receivable | $160,755 |
| Accounts receivable, net | $499,406 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $43,932 |
| Prepaid expenses and deferred charges | $38,179 |
| Net Land, buildings, and equipment | $5,340,893 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1 |
| Other assets | $0 |
| Total assets | $6,876,311 |
| Accounts payable and accrued expenses | $54,518 |
| Grants payable | $149,500 |
| Deferred revenue | $349,848 |
| 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 | $1,140,134 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,535,645 |
| Total liabilities | $5,229,645 |
| Net assets without donor restrictions | $0 |
| 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 | $1,646,666 |
| Total liabilities and net assets/fund balances | $6,876,311 |
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|---|---|---|
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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 |