Corinthian Yacht Club Of San Francisco
- Assets
- $6.0m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 64
- Location
- Tiburon, CA
- Founding
- 03/1942
- Data as of
- 12/2021
- EIN
- 94-0405160
Organization Overview
Corinthian Yacht Club Of San Francisco is located in Tiburon, CA. The organization was established in 1942. 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, Corinthian Yacht Club Of San Francisco employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corinthian Yacht Club Of San Francisco 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, Corinthian Yacht Club Of San Francisco generated $2.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $2.6m during the year ending 12/2021. While expenses have increased by 2.2% 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 CORINTHIAN YACHT CLUB IS A SOCIAL CLUB ORGANIZED TO PROMOTE YACHTING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CORINTHIAN YACHT CLUB OF SAN FRANCISCO (CYC) ADMINISTERED VARIOUS RACING EVENTS, SUCH AS MIDWINTERS, FRIDAY NIGHT RACES, ONE DESIGN AND FRIENDSHIP REGATTA, ETC. CYC ALSO ADMINISTERED CRUISES TO OTHER YACHT CLUBS. THE GOALS ARE TO IMPROVE THE KNOWLEDGE AND YACHTING/RACING SKILLS OF MEMBERS AND TO FOSTER SOCIAL INTERACTION BETWEEN MEMBERS OF THE CORINTHIAN AND OTHER YACHT CLUBS.CYC ADMINISTERED VARIOUS SPEAKER LECTURES AND DINNERS FOR RACE PARTICIPANTS, CONDUCTED VARIOUS ORGANIZED EVENTS FOR MEMBERS INCLUDING OPENING DAY, EASTER BRUNCH, NEW YEAR'S EVE PARTY, CRAB FEED, MOTHER'S DAY INDEPENDENCE DAY, ETC. THE GOALS ARE TO PROVIDE A FORUM FOR MEMBERS TO SOCIALIZE WITH EACH OTHER AND THEIR FAMILIES.CORINTHIAN YACHT CLUB OF SAN FRANCISCO CONTINUES TO MAINTAIN A WELL KEPT AND WELL RUN HARBOR FOR MEMBERS TO STORE THEIR BOATS, CANOES, KAYAKS, SAIL AND POWER BOATS.CORINTHIAN YACHT CLUB RENTS OUT THE BALLROOM FOR PRIVATE EVENTS TO GENERATE MONEY TO HELP KEEP THE ABOVE PROGRAMS GOING AND TO GENERATE MONEY TO MAINTAIN AND IMPROVE THE CLUBHOUSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Nicolai General Manager | Officer | 40 | $160,396 |
David Rosemond Executive Chef | 40 | $100,965 | |
Mark Birnbaum Controller | Officer | 40 | $71,526 |
David Hoyt Controller | Officer | 40 | $51,902 |
Jennifer Canestra Commodore | OfficerTrustee | 3 | $0 |
Jim Erskine Treasurer | OfficerTrustee | 2 | $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 | $1,958,259 |
| Investment income | $23,907 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $11,605 |
| Net Gain/Loss on Asset Sales | -$92,257 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $843,331 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,837,546 |
| 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. | $312,211 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $983,145 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $160,538 |
| 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 | $205,063 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $120,697 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $234,934 |
| Insurance | $135,857 |
| All other expenses | $91,025 |
| Total functional expenses | $2,620,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,053,472 |
| Savings and temporary cash investments | $5,103 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $278,639 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $129,539 |
| Prepaid expenses and deferred charges | $92,147 |
| Net Land, buildings, and equipment | $3,831,990 |
| Investments—publicly traded securities | $576,260 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,967,150 |
| Accounts payable and accrued expenses | $379,691 |
| Grants payable | $0 |
| Deferred revenue | $233,146 |
| 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 | $3,155,211 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,768,048 |
| 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 | $2,199,102 |
| Total liabilities and net assets/fund balances | $5,967,150 |
Endowment Analysis
| Beg. Balance | $481,970 |
| Earnings | $96,890 |
| Admin Expense | $2,600 |
| Ending Balance | $576,260 |
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