Westerly Yacht Club in Westerly, Rhode Island (RI)

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Westerly Yacht Club
Employer Identification Number (EIN)052477090
Name of OrganizationWesterly Yacht Club
Address1 Watch Hill Rd, Westerly, RI 02891-3218
ActivitiesOther recreational activities
SubsectionPleasure, Recreational, or Social Club
Ruling Date10/1956
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period02/2011
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (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


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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%

Financial snapshot ($)

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
IdNameAddressStateEstablishedTotal Income
1Treasure Island Tennis & Yacht Club400 Treasure Island Cswy, Treasure Is, FL 33706-1131FL2007-10$3,103,974
2Tau Kappa Epsilon Fraternity Inc, 298 Iota Zeta Colony747 Comstock Ave, Syracuse, NY 13210-2820NY2004-02$249,224
3Sakonnet Point Club, PayrollPO BOX 299, L Compton, RI 02837-0299RI1999-08$1,940,690
4Westerly Yacht Club1 Watch Hill Rd, Westerly, RI 02891-3218RI1956-10$1,395,782
5Westerly Yacht Club1 Watch Hill Rd, Westerly, RI 02891-3218RI1956-10$1,241,200
6Societa Di Soccorso Cittapini Calcbro Amercani28 Pleasant St, Westerly, RI 02891-1654RI2000-01$290,850
7Santa Maria Diprata Society29 Walnut Grove Ave, Cranston, RI 02920-5319RI2005-04$257,372
8Holy Rosary Band Society157 Gano St, Providence, RI 02906-3808RI2008-10$168,053
9Cumberland Athletic Club30 Hamilton St, Cumberland, RI 02864-6308RI2014-07$125,765
10Snoopys Group IncPO BOX 1164, Westerly, RI 02891-0903RI2010-10$64,556
11R I State Seniors Golf Association Inc17 Riverside Dr, Barrington, RI 02806-3615RI2010-07$51,059
12Rhode Island Fish And Game Protective AssociationPO BOX 852, Coventry, RI 02816-0015RI2003-03$41,707
13Alpha Epsilon Pi Fraternity Beta Rho Chapter42 Charlesfield St Box 1864, Providence, RI 02912-9063RI2014-10$29,879
14Billington Cove Yacht Club557 Pond St, Wakefield, RI 02879-4023RI2010-08$29,609
15Providence Bruins Fan ClubPO BOX 40963, Providence, RI 02940-4063RI2011-09$11,480
16Addieville East Conservation Club200 Pheasant Dr, Mapleville, RI 02839-1132RI2008-12$0
17American Chinese Social Association10 Cavalcade Blvd, Johnston, RI 02919RI2004-12$0
18Block Island Yacht ClubPo Box 502, Block Island, RI 02807RI2012-06$0
19Butternut Race Club44 Cross Street, Westerly, RI 02891RI2014-06$0
20Fleet 50875 Centerville Road, Warwick, RI 02886RI2001-02$0
Number of organizations performing similar types of work
Alaska51
Alabama146
Arkansas73
Arizona233
California1,398
Colorado245
Connecticut207
District of Columbia42
Delaware48
Florida770
Georgia222
Hawaii70
Iowa129
Idaho65
Illinois344
Indiana230
Kansas70
Kentucky136
Louisiana156
Massachusetts271
Maryland275
Maine70
Michigan383
Minnesota178
Missouri239
Mississippi43
Montana53
North Carolina261
North Dakota33
Nebraska53
New Hampshire83
New Jersey357
New Mexico62
Nevada97
New York650
Ohio422
Oklahoma84
Oregon203
Pennsylvania668
Rhode Island59
South Carolina168
South Dakota32
Tennessee143
Texas646
Utah62
Virginia337
Vermont55
Washington327
Wisconsin264
West Virginia67
Wyoming36
International6
Total11,322

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