Lake Merritt Rowing Club Inc
- Assets
- $577.4k
- Revenue
- $255.8k
- Investments
- $0.0
- Employees
- 8
- Location
- Oakland, CA
- Founding
- 05/1963
- Data as of
- 03/2024
- EIN
- 94-6103108
Organization Overview
Lake Merritt Rowing Club Inc is located in Oakland, CA. The organization was established in 1963. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 03/2024, Lake Merritt Rowing Club Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Merritt Rowing Club Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2024, Lake Merritt Rowing Club Inc generated $255.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $215.5k during the year ending 03/2024. While expenses have increased by 6.0% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO SHARE THE JOY OF ROWING WITH THE DIVERSE COMMUNITY OF THE BAY AREA INCLUDING YOUTH AND OTHER INTERESTED ROWERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LMRC MEMBER PROGRAMS: OPEN TO ALL MEMBERS OF THE OAKLAND AND BAY AREA COMMUNITY, LMRC OFFERS A RANGE OF PROGRAMS FROM NOVICE TO INTERMEDIATE TO COMPETITIVE AS WELL AS RECREATIONAL AND INDEPENDENT SCULLING PROGRAMS ENGAGING APPROXIMATELY 200 MEMBERS ANNUALLY AND WELCOMING ALL REGARDLESS OF ABILITY TO PAY
YOUTH ROWING: LAKE MERRITT YOUTH ROWING (LMYR) OFFERS YOUNGSTERS, AGES 12-18, THE CHANCE TO TRY THE GREAT SPORT OF ROWING ON BEAUTIFUL LAKE MERRITT IN THE HEART OF OAKLAND! PARTICIPANTS BUILD TECHNIQUE AND SKILLS IN A FUN, SAFE ENVIRONMENT. NO ROWING EXPERIENCE IS NEEDED. SESSIONS GIVE A POSITIVE, RELIABLE, AFTERSCHOOL EXPERIENCE WITH CONTINUOUS YEARROUND COACHING AND THE OPPORTUNITY TO BUILD ROWING SKILLS AND MASTER THIS REWARDING SPORT. SUMMER OFFERS IMMERSIVE, HALFDAY CAMPS FOR ROWERS OF ALL ABILITIES IN WEEKLONG SESSIONS. OVER 100 PARTICIPANTS PER YEAR.
COMMUNITY LEARN TO ROW: LAKE MERRITT ROWING CLUB COMMUNITY LEARN TOROW PROGRAM IS OFFERED YEAR ROUND TO ALL MEMBERS OVER AGE 18 IN THE COMMUNITY. DESIGNED FOR INDIVIDUALS THAT HAVE LITTLE OR NO ROWING EXPERIENCE. ROWERS MAY BE IN SINGLES OR MAY EXPERIENCE ROWING IN A MULTIPERSON BOAT. THE PROGRAM ENGAGES APPROXIMATELY 100 ADULTS ANNUALLY. IN ADDITION, LMRC OFFERED A LEARN TO ROW PROGRAM TO THE LANEY COMMUNITY COLLEGE COMMUNITY FREE OF CHARGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Gallagher President | OfficerTrustee | 4 | $0 |
Kevin Kawada Vice President | OfficerTrustee | 4 | $0 |
Lisa Herrinton Secretary | OfficerTrustee | 4 | $0 |
Scott Sporte Treasurer | OfficerTrustee | 4 | $0 |
Andrew Hollingsworth Treasurer | Trustee | 4 | $0 |
Wendy Madieros Director | Trustee | 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 | $11,154 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,154 |
| Total Program Service Revenue | $241,541 |
| Investment income | $2,924 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $155 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $255,774 |
| 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 | $65,786 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,815 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,236 |
| Advertising and promotion | $0 |
| Office expenses | $9,976 |
| Information technology | $1,671 |
| Royalties | $0 |
| Occupancy | $18,000 |
| 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 | $42,505 |
| Insurance | $34,618 |
| All other expenses | $430 |
| Total functional expenses | $215,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,855 |
| Savings and temporary cash investments | $307,089 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,110 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,415 |
| Prepaid expenses and deferred charges | $1,260 |
| Net Land, buildings, and equipment | $231,712 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $577,441 |
| Accounts payable and accrued expenses | $5,540 |
| Grants payable | $0 |
| Deferred revenue | $22,655 |
| 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 | $0 |
| Total liabilities | $28,195 |
| Net assets without donor restrictions | $549,246 |
| 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 | $577,441 |