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Nonprofiteer
← THE GREAT HARBOR YACHT CLUB FOUNDATION INC

Form 990 for tax year 2023

Filed by THE GREAT HARBOR YACHT CLUB FOUNDATION INC.

Totals

Total revenue
$735,179
Total expenses
$207,795
Contributions and grants received
$412,760
Grants paid
$111,732
Program service revenue
$0
Investment income
$138,125
Other revenue
$184,294
Total assets, end of year
$3,150,084
Total liabilities, end of year
$661
Net assets or fund balances, end of year
$3,149,423
Program services expenses (Part IX)
$111,732
Management and general expenses
$96,063
Fundraising expenses
$0
Program service expenses (Part III)
$111,732

Program services were 53.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $123,260

  • 1f · All other contributions, gifts and grants

    $289,500

  • 3 · Investment income

    total $138,125 · excluded $138,125

  • 8a · Fundraising events: gross income

    $306,252

  • 8a · Fundraising events: contributions included on line 1c

    $123,260

  • 8b · Fundraising events: direct expenses

    $124,708

  • 8c · Net income from fundraising events

    total $181,544 · excluded $181,544

  • 11a · Other revenue: OTHER REVENUE

    total $2,750 · related or exempt $2,750

  • 11e · Other revenue, total

    $2,750

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $111,732 · program services $111,732

  • 11b · Fees: legal

    total $48,452 · management and general $48,452

  • 12 · Advertising and promotion

    total $4,097 · management and general $4,097

  • 13 · Office expenses

    total $5,664 · management and general $5,664

  • 23 · Insurance

    total $1,725 · management and general $1,725

  • 24a · Other expenses: OTHER PROGRAM EXPENSES

    total $36,125 · management and general $36,125

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,768 · end of year $74,080

  • 2 · Savings and temporary cash investments

    beginning of year $2,400,055 · end of year $2,888,818

  • 3 · Pledges and grants receivable

    beginning of year $107,286 · end of year $187,186

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,250 · end of year $0

  • 17 · Accounts payable and accrued expenses

    end of year $661

  • 27 · Net assets without donor restrictions

    beginning of year $2,501,359 · end of year $3,129,423

  • 28 · Net assets with donor restrictions

    beginning of year $20,000 · end of year $20,000

Mission and programs · 2023

Mission

THE PURPOSE OF THE CORPORATION IS TO ACT AS A NOT-FOR-PROFIT ORGANIZATION WITH A PRIMARY MISSION OF PROMOTING THE HEALTH OF NANTUCKET ISLANDS HARBOR AND ITS MARINE ECOSYSTEM. THE CORPORATION WILL WORK WITH THE NANTUCKET DEPARTMENT OF NATURAL RESOURCES AND OTHER GOVERNMENTAL AND NONGOVERNMENTAL ORGANIZATIONS, GROUPS AND INDIVIDUALS IN FURTHERANCE OF ITS PRIMARY MISSION AND OTHER ACTIVITIES. THE CORPORATION MAY SOLICIT DONATIONS, MAKE GRANTS AND OTHERWISE ENGAGE IN ANY AND ALL ACTIVITIES PERMITTED TO A NOT-FOR-PROFIT CORPORATION WHETHER IN FURTHERANCE OF ITS MISSION OR OTHER CHARITABLE ENDEAVORS, OTHER ACTIONS AS MAY BE NECESSARY OR EXPEDIENT FOR THE ADMINISTRATION OF THE AFFAIRS AND ATTAINMENT OF THE PURPOSES OF THE CORPORATION, AND FOR ALL OTHER ACTIVITIES LEGAL AND CONSISTENT WITH THE OPERATION OF A NON-PROFIT CORPORATION IN THE COMMONWEALTH OF MASSACHUSETTS.

Activities or mission (Part I)

THE ORGANIZATION WILL WORK WITH THE NANTUCKET NATURAL RESOURCES DEPARTMENT AND OTHER ORGANIZATIONS TO PROMOTE THE HEALTH OF NANTUCKET HARBOR AND ITS MARINE ENVIRONMENT. RECENTLY FUNDED PROJECTS INCLUDE THE PURCHASE OF A PHOTOBIOREACTOR FOR THE TOWN OF NANTUCKET'S SHELLFISH HATCHERY AND FUNDING COMMUNITY OUTREACH PROGRAMS FOR NANTUCKETS YOUTH. UPCOMING PROJECTS INCLUDE PARTIAL FUNDING OF A HEAD OF THE HARBOR NUMBERICAL STUDY TO DETERMINE THE POTENTIAL HARBOR HEALTH AND COMMUNITY BENEFITS OF A BREACH AT THE HAULOVER, RESTORATION OF THE ERODED PARKING AREA AT POCOMO POINT TO CONTROL THE EFFECTS OF RUNOFF INTO THE HARBOR, DEVELOPMENT OF AN EEL GRASS AND SHELLFISH MONITORING / PERMITTING PLAN FOR NANTUCKET HARBOR, AMONG OTHERS.

  • THE GREAT HARBOR YACHT CLUB FOUNDATION WAS FORMED IN 2018 AND IS DEDICATED TO THE PROMOTION AND PRESERVATION OF NANTUCKET HARBOR AND ITS MARINE ECOSYSTEM. THE FOUNDATION WILL WORK WITH THE TOWN OF NANTUCKET'S DEPARTMENT OF NATURAL RESOURCES AND OTHERS TO FUND PROJECTS WHICH MIGHT OTHERWISE GO UNFUNDED IN FURTHERANCE OF THE FOUNDATION'S MISSION AND THE TOWN OF NANTUCKET'S STRATEGIC HARBOR PLAN. DURING THE YEAR THE FOUNDATION HAD ITS INITIAL GALA AND CAPITAL CAMPAIGN TO RAISE MONEY TO SUPPORT ITS MISSION MOVING FORWARD.

    Expenses $111,732 · Grants $111,732 · Revenue $2,750

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Paul Collins

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Matthew Dwyer

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • William Einstein

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Cynthia Fowler

    CLERK

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jeffrey Parker

    DIRECTOR UNTIL AUG 2023

    Total calculated
    $0
    Hours/week
    1

  • Karen Ketterer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joseph Smialowski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marcus Fuller

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Edward Bernard

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Elliot Gewirtz

    CHAIRMAN EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • Brooke Stanton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • B Grady Durham

    TREASURER UNTIL AUGUST 2023

    Total calculated
    $0
    Hours/week
    1

  • Rachel Sheridan

    DIRECTOR UNTIL AUG 2023

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • TOWN OF NANTUCKET NATURAL RESOURCE DEPT

    $66,100

    PURCHASE OF A BIOREACTOR FROM INDUSTRIAL PLANKTON FOR THE TOWN OF NANTUCKET

  • NANTUCKET PUBLIC SCHOOL

    $25,487

    STEM GRANT

  • MARIA MITCHELL ASSOCIATION

    $12,300

    TO SUPPORT DR. HALLS PROGRAM NOW RUN THROUGH MARIA MITCHELL

Provenance

Return type
form_990
Tax year
2023
Filed
15 October 2024
IRS schema version
2023v5.1
Source object
202422899349302337

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