Westerly Yacht Club in Westerly, Rhode Island (RI)
Table of contents:
| Westerly Yacht Club | |
| Employer Identification Number (EIN) | 052477090 |
| Name of Organization | Westerly Yacht Club |
| Address | 1 Watch Hill Rd, Westerly, RI 02891-3218 |
| Activities | Other recreational activities |
| Subsection | Pleasure, Recreational, or Social Club |
| Ruling Date | 10/1956 |
| Deductibility | Contributions are not deductible |
| Foundation | All organizations except 501(c)(3) |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 02/2011 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $1,000,000 to $4,999,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $3,266,851 |
| Amount of Income | $1,241,200 |
| Form 990 Revenue Amount | $902,650 |
| National Taxonomy of Exempt Entities (NTEE) | Recreation, Sports, Leisure, Athletics: Recreational, Pleasure, or Social Club |
Non-representatives - add comments:
Amount of income in 2011: $1,241,200 (it was $945,712 in 2012)
| This organization: | $1,241,200 |
| Other organizations performing similar types of work: | $62,479 |
Assets in 2011: $3,266,851 (it was $3,250,574 in 2012)
| Westerly Yacht Club: | $3,266,851 |
| Other organizations performing similar types of work: | $41,400 |
Expenses in 2012: $866,806
| Westerly Yacht Club: | $866,806 |
| Other organizations performing similar types of work: | $49,751 |
Income to expenses ratio in 2012: 1.4
| This organization: | 1.4 |
| Other organizations performing similar types of work: | 0.9 |
Grants share in income in 2012: 34.7%
| This organization: | 34.7% |
| Other organizations performing similar types of work: | 0.0% |
Revenue for 2012
Functional expenses for 2012
| Statements Regarding Other IRS Filings and Tax Compliance (for 2012) | |
| Did the organization have unrelated business gross income of $1,000 or more during the year? | Yes |
| Initiation fees and capital contributions | $71,036 |
| Gross receipts for public use of club facilities | $1,615 |
| Gross income from members or shareholders | $0 |
| Gross income from other sources | $0 |
| Statement of Revenue (for 2012) | |
| Total revenue | $945,712 |
| Contributions, Gifts, Grants and Other Similar Amounts | $328,545 |
| Program Service Revenue | $393,406 |
| Other Revenue | |
| Investment income (including dividends, interest, and other similar amounts) | $3,162 |
| Income from investment of tax-exempt bond proceeds | $0 |
| Royalties | $0 |
| Net rental income | $9,164 |
| Gross rents (Real / Personal) | $22,352 / $0 |
| Less: rental expenses (Real / Personal) | $13,188 / $0 |
| Rental income or (loss) (Real / Personal) | $9,164 / $0 |
| Net gain from sales of assets other than inventory | $0 |
| Net income from fundraising events | $0 |
| Net income from gaming activities | $0 |
| Net income from sales of inventory | $211,435 |
| Gross sales of inventory, less returns and allowances | $612,842 |
| Less: cost of goods sold | $401,407 |
| Miscellaneous Revenue | $0 |
| Statement of Functional Expenses (for 2012) | |
| Total functional expenses | $866,806 |
| Compensation of current officers, directors, trustees, and key employees | $144,636 |
| Other salaries and wages | $123,614 |
| Payroll taxes | $30,939 |
| Professional fundraising services | $0 |
| Other | $567,617 |
| Balance Sheet (for 2012) | |
| Total assets | $3,250,574 |
| Total liabilities | $1,205,845 |
| Tax-exempt bond liabilities | $0 |
| Secured mortgages and notes payable to unrelated third parties | $769,536 |
| Unsecured notes and loans payable to unrelated third parties | $0 |
| Other | $436,309 |
| Total net assets or fund balances | $2,044,729 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Reason for Public Charity Status (for 2012) | |
| The organization is not a private foundation because it is: | Not provided |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Treasure Island Tennis & Yacht Club | 400 Treasure Island Cswy, Treasure Is, FL 33706-1131 | FL | 2007-10 | $3,103,974 |
| 2 | Tau Kappa Epsilon Fraternity Inc, 298 Iota Zeta Colony | 747 Comstock Ave, Syracuse, NY 13210-2820 | NY | 2004-02 | $249,224 |
| 3 | Sakonnet Point Club, Payroll | PO BOX 299, L Compton, RI 02837-0299 | RI | 1999-08 | $1,940,690 |
| 4 | Westerly Yacht Club | 1 Watch Hill Rd, Westerly, RI 02891-3218 | RI | 1956-10 | $1,395,782 |
| 5 | Westerly Yacht Club | 1 Watch Hill Rd, Westerly, RI 02891-3218 | RI | 1956-10 | $1,241,200 |
| 6 | Societa Di Soccorso Cittapini Calcbro Amercani | 28 Pleasant St, Westerly, RI 02891-1654 | RI | 2000-01 | $290,850 |
| 7 | Santa Maria Diprata Society | 29 Walnut Grove Ave, Cranston, RI 02920-5319 | RI | 2005-04 | $257,372 |
| 8 | Holy Rosary Band Society | 157 Gano St, Providence, RI 02906-3808 | RI | 2008-10 | $168,053 |
| 9 | Cumberland Athletic Club | 30 Hamilton St, Cumberland, RI 02864-6308 | RI | 2014-07 | $125,765 |
| 10 | Snoopys Group Inc | PO BOX 1164, Westerly, RI 02891-0903 | RI | 2010-10 | $64,556 |
| 11 | R I State Seniors Golf Association Inc | 17 Riverside Dr, Barrington, RI 02806-3615 | RI | 2010-07 | $51,059 |
| 12 | Rhode Island Fish And Game Protective Association | PO BOX 852, Coventry, RI 02816-0015 | RI | 2003-03 | $41,707 |
| 13 | Alpha Epsilon Pi Fraternity Beta Rho Chapter | 42 Charlesfield St Box 1864, Providence, RI 02912-9063 | RI | 2014-10 | $29,879 |
| 14 | Billington Cove Yacht Club | 557 Pond St, Wakefield, RI 02879-4023 | RI | 2010-08 | $29,609 |
| 15 | Providence Bruins Fan Club | PO BOX 40963, Providence, RI 02940-4063 | RI | 2011-09 | $11,480 |
| 16 | Addieville East Conservation Club | 200 Pheasant Dr, Mapleville, RI 02839-1132 | RI | 2008-12 | $0 |
| 17 | American Chinese Social Association | 10 Cavalcade Blvd, Johnston, RI 02919 | RI | 2004-12 | $0 |
| 18 | Block Island Yacht Club | Po Box 502, Block Island, RI 02807 | RI | 2012-06 | $0 |
| 19 | Butternut Race Club | 44 Cross Street, Westerly, RI 02891 | RI | 2014-06 | $0 |
| 20 | Fleet 50 | 875 Centerville Road, Warwick, RI 02886 | RI | 2001-02 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 11,322 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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