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Nonprofiteer
← VENICE YACHT CLUB INC

Form 990 for tax year 2023

Filed by VENICE YACHT CLUB INC.

Totals

Total revenue
$5,259,145
Total expenses
$4,839,081
Contributions and grants received
$0
Grants paid
$20,000
Program service revenue
$3,407,831
Investment income
$8,309
Other revenue
$1,843,005
Total assets, end of year
$9,195,310
Total liabilities, end of year
$3,041,855
Net assets or fund balances, end of year
$6,153,455
Program services expenses (Part IX)
$4,839,081
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$4,839,081

Program services were 100.0% 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.

  • 2a · Program service revenue: MEMBERSHIP DUES AND INITIATION FE

    total $3,374,013 · related or exempt $3,374,013

  • 2b · Program service revenue: UNUSED MINIMUM CHARGE

    total $33,818 · related or exempt $33,818

  • 3 · Investment income

    total $8,309 · unrelated business $8,309

  • 6a · Gross rents

    real property $11,075

  • 6b · Less rental expenses

    real property $52,849

  • 6c · Rental income or loss

    real property -$41,774

  • 6d · Net rental income or loss

    total -$41,774 · unrelated business -$41,774

  • 10a · Gross sales of inventory

    $3,319,161

  • 10b · Cost of goods sold

    $1,468,769

  • 10c · Net income from sales of inventory

    total $1,850,392 · related or exempt $1,526,608 · unrelated business $323,784

  • 11a · Other revenue: OTHER REVENUES

    total $34,387 · related or exempt $34,387

  • 11e · Other revenue, total

    $34,387

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,000 · program services $20,000

  • 5 · Compensation of officers, directors and key employees

    total $185,872 · program services $185,872

  • 7 · Other salaries and wages

    total $1,869,213 · program services $1,869,213

  • 8 · Pension plan contributions

    total $29,439 · program services $29,439

  • 9 · Other employee benefits

    total $296,925 · program services $296,925

  • 10 · Payroll taxes

    total $214,552 · program services $214,552

  • 11c · Fees: accounting

    total $15,618 · program services $15,618

  • 11g · Fees: other

    total $64,647 · program services $64,647

  • 12 · Advertising and promotion

    total $55,932 · program services $55,932

  • 13 · Office expenses

    total $54,014 · program services $54,014

  • 16 · Occupancy

    total $207,635 · program services $207,635

  • 17 · Travel

    total $14,201 · program services $14,201

  • 20 · Interest

    total $126,874 · program services $126,874

  • 22 · Depreciation, depletion and amortization

    total $534,377 · program services $534,377

  • 23 · Insurance

    total $349,860 · program services $349,860

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $320,415 · program services $320,415

  • 24b · Other expenses: SUPPLIES

    total $131,054 · program services $131,054

  • 24c · Other expenses: TAXES

    total $119,392 · program services $119,392

  • 24d · Other expenses: ENTERTAINMENT EXPENSE

    total $84,476 · program services $84,476

  • 24e · All other expenses

    total $144,585 · program services $144,585

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $850 · end of year $850

  • 2 · Savings and temporary cash investments

    beginning of year $1,098,650 · end of year $1,186,936

  • 4 · Accounts receivable

    beginning of year $666,478 · end of year $615,621

  • 8 · Inventories for sale or use

    beginning of year $122,807 · end of year $133,072

  • 9 · Prepaid expenses and deferred charges

    beginning of year $239,046 · end of year $249,286

  • 10a · Land, buildings and equipment: cost or other basis

    $11,979,676

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,185,928

  • 10c · Land, buildings and equipment, net

    beginning of year $6,793,887 · end of year $6,793,748

  • 15 · Other assets

    beginning of year $10,251 · end of year $215,797

  • 17 · Accounts payable and accrued expenses

    beginning of year $470,555 · end of year $344,321

  • 19 · Deferred revenue

    beginning of year $30,448 · end of year $32,988

  • 23 · Secured mortgages and notes payable

    beginning of year $2,687,324 · end of year $2,598,749

  • 25 · Other liabilities

    beginning of year $10,251 · end of year $65,797

  • 27 · Net assets without donor restrictions

    beginning of year $5,733,391 · end of year $6,153,455

Mission and programs · 2023

Mission

A. TO ENCOURAGE THE PROPER USE AND ENJOYMENT OF YACHTS AND BOATS AND TO ASSIST IN EDUCATING MEMBERS IN THE SCIENCE OF NAVIGATION, BOAT DESIGN, AND THE SKILLS OF SAILING.B. TO OWN AND OPERATE AN APPROPRIATE PRIVATE WATERFRONT CLUB IN THE FURTHERANCE OF THE AFORESAID PURPOSES AND TO PROMOTE SOCIAL COMMUNION AMONG ITS MEMBERS AND GUESTS.C. TO ENCOURAGE THE EDUCATION OF THE YOUNG PEOPLE IN THE COMMUNITY IN THE SCIENCE OF NAVIGATION, THE ART OF SAILING, AND SMALL BOAT HANDLING.D. TO PROVIDE AN OPPORTUNITY FOR PERSONS WHO SHARE THESE PURPOSES TO JOIN FORCES IN THE FURTHERANCE OF SUCH COMMON PURSUITS.

  • THE CLUB PROVIDES ENTERTAINMENT, FOOD, BEVERAGE, AND MARINA FACILITIES FOR MEMBERS AND THEIR GUESTS TO ENCOURAGE YACHTING AND PROFICIENCY IN SEAMANSHIP AND NAVIGATION.

    Expenses $4,839,081 · Grants $20,000

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

Listed in Part VII

  • JOHN HOLIC

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    8

  • VINCE PELLICCIA

    COMMODORE

    Total calculated
    $0
    Hours/week
    8

  • TERRI GRIFFITH

    VICE COMMODORE/TREASURER

    Total calculated
    $0
    Hours/week
    8

  • DAN MORGAN

    REAR COMMODORE

    Total calculated
    $0
    Hours/week
    5

  • MICHAEL MARQUETTE

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL NEMSER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KEVIN NIXON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • BRITTANY BERG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MARK CASHDOLLAR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • STEVEN JOHNSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • BRUCE FURMAN

    GENERAL MANAGER

    Total calculated
    $192,542
    From this org
    $185,872
    From related orgs
    $0
    Other
    $6,670
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,663
    Bonus
    $18,403
    Other
    $10,806
    Deferred
    $0
    Nontaxable benefits
    $6,670
    Filer's total
    $192,542

  • MARTY MOGFORD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
30 March 2025
IRS schema version
2023v6.0
Source object
202521029349300817

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