Seattle Yacht Club
- Assets
- $30.5m
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 165
- Location
- Seattle, WA
- Founding
- 06/1921
- Data as of
- 10/2020
- EIN
- 91-0404140
Organization Overview
Seattle Yacht Club is located in Seattle, WA. The organization was established in 1921. 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 10/2020, Seattle Yacht Club employed 165 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seattle 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 10/2020, Seattle Yacht Club generated $8.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $7.6m during the year ending 10/2020. While expenses have increased by 0.7% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
BOATING & SOCIALIZING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TAXPAYER IS A PRIVATE YACHT CLUB. ALL CLUB ACTIVITIES ARE PRIMARILY SOCIAL IN NATURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Shaftel Employee | 40 | $169,816 | |
Deborah Cannon Employee | 40 | $132,329 | |
Brian Ledbetter Employee | 40 | $130,788 | |
Jeffrey Bertsch Employee | 40 | $124,235 | |
Bob Mcconnell Vice Commodore | OfficerTrustee | 1 | $0 |
Pam Sanford Rear Commodore | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $261,957 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,330 |
| Net Gain/Loss on Asset Sales | $78,141 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,260,239 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,534,744 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $3,457,596 |
| Pension plan accruals and contributions | $35,767 |
| Other employee benefits | $552,992 |
| Payroll taxes | $64,064 |
| 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 | $81,243 |
| Fees for services: Other | $63,513 |
| Advertising and promotion | $0 |
| Office expenses | $270,602 |
| Information technology | $157,914 |
| Royalties | $0 |
| Occupancy | $766,593 |
| Travel | $6,283 |
| 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 | $670,465 |
| Insurance | $305,005 |
| All other expenses | $0 |
| Total functional expenses | $7,643,709 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,529,226 |
| Savings and temporary cash investments | $3,200,977 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $969,722 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $103,009 |
| Prepaid expenses and deferred charges | $265,470 |
| Investments—publicly traded securities | $8,803,188 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,460,626 |
| Accounts payable and accrued expenses | $720,209 |
| Grants payable | $0 |
| Deferred revenue | $759,927 |
| 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 | $517,567 |
| Total liabilities | $1,997,703 |
| 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 |
| Total liabilities and net assets/fund balances | $28,462,923 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Seattle Yacht Club has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Jacobi Family Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Track Town Usa Inc Eugene, OR | $22,816,196 | $29,424,138 |
Overlake Golf And Country Club Medina, WA | $29,417,112 | $12,082,027 |
Waverley Country Club Portland, OR | $15,287,232 | $9,034,980 |
Portland Golf Club Portland, OR | $13,576,929 | $9,879,957 |
Broadmoor Golf Club Seattle, WA | $17,865,105 | $8,643,094 |
Seattle Yacht Club Seattle, WA | $30,460,626 | $8,534,744 |
Seattle Tennis Club Seattle, WA | $26,695,930 | $9,613,446 |
Eugene Country Club Eugene, OR | $18,840,181 | $10,610,025 |
Sahalee Country Club Sammamish, WA | $23,374,179 | $8,767,050 |
Glendale Country Club Bellevue, WA | $11,150,711 | $6,731,979 |
Crane Creek Country Club Inc Boise, ID | $12,055,975 | $8,134,386 |
Hayden Lake Country Club Inc Hayden Lake, ID | $13,288,734 | $7,601,397 |