Fort Worth Boat Club
- Assets
- $8.5m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 28
- Location
- Fort Worth, TX
- Founding
- 06/1969
- Data as of
- 09/2022
- EIN
- 75-0275000
Organization Overview
Fort Worth Boat Club is located in Fort Worth, TX. The organization was established in 1969. 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 09/2022, Fort Worth Boat Club employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Worth Boat Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 09/2022, Fort Worth Boat Club generated $2.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $2.1m during the year ending 09/2022. 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
THE FORT WORTH BOAT CLUB EXISTS TO PROVIDE A BOAT CLUB FOR THE BENEFIT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FORT WORTH BOAT CLUB PROVIDES DOCKING FACILITES AND OTHER AMENITIES FOR THE BENEFIT AND ENJOYMENT OF ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Nilsson Rear Commodore | OfficerTrustee | 0 | $0 |
E Mark Smith Vice Commodore | OfficerTrustee | 0 | $0 |
Martha White Secretary | OfficerTrustee | 0 | $0 |
John Hardesty Commodore | OfficerTrustee | 0 | $0 |
Michael Bornitz Governor | Trustee | 0 | $0 |
Michael Winfrey Governor | Trustee | 0 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,076,250 |
| Investment income | $7 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $316,755 |
| 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 | $1,049,230 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,442,242 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $463,454 |
| Pension plan accruals and contributions | $13,663 |
| Other employee benefits | $0 |
| Payroll taxes | $97,655 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,000 |
| Fees for services: Accounting | $25,600 |
| 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 | $84,111 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $89,117 |
| Travel | $2,851 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $131,425 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $332,221 |
| Insurance | $264,654 |
| All other expenses | $222,507 |
| Total functional expenses | $2,076,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $337,413 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $285,237 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $57,018 |
| Prepaid expenses and deferred charges | $1,000 |
| Net Land, buildings, and equipment | $7,824,895 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,505,563 |
| Accounts payable and accrued expenses | $106,465 |
| Grants payable | $0 |
| Deferred revenue | $1,235,119 |
| 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 | $4,083,735 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,425,319 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $3,080,244 |
| 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 | $8,505,563 |
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