Civic Intelligence

Westhampton Yacht Squadron Ltd

990 • Fiscal year 2017 • EIN 11-2136804

Jan 01, 2017 to Dec 31, 2017 • Filed on Jun 22, 2018

Organization Profilewww.yachtsquadron.com
PO Box 315Remsenburg, NY 11960-0315

(631) 325-7762

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

10th percentile

0.00x

Higher debt load relative to assets than 10% of similar nonprofits.

2017 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

10th percentile

0.00x

Higher debt load relative to revenue than 10% of similar nonprofits.

2017 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2017

Net Margin

35th percentile

-0.8%

Higher net margin than 35% of similar nonprofits.

2017 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

72nd percentile

$0

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2017

Asset Growth

42nd percentile

-0.3%

Faster asset growth than 42% of similar nonprofits.

2017 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

87th percentile

18%

Faster revenue growth than 87% of similar nonprofits.

2017 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets10th percentile

Assets

Down

$1,968,925

Down $5,417 (-0.3%) from 2016

Net Assets

Down

$1,966,687

Down $5,853 (-0.3%) from 2016

Liabilities

Up

$2,238

Up $436 (+24%) from 2016

Revenue And Expenses
Liabilities / Revenue10th percentileNet Margin35th percentile

Revenue

Up

$772,520

Up $118,076 (+18%) from 2016

Expenses

Up

$778,373

Up $47,530 (+6.5%) from 2016

Net Income

Up

-$5,853

Up $70,546 (+92%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $1,638,618Liabilities 2011: $5,421Net Assets 2011: $1,633,1972011Assets 2012: $1,898,363Liabilities 2012: $10,417Net Assets 2012: $1,887,9462012Assets 2013: $2,427,633Liabilities 2013: $550,039Net Assets 2013: $1,877,5942013Assets 2014: $1,991,007Liabilities 2014: $11,287Net Assets 2014: $1,979,7202014Assets 2015: $2,057,190Liabilities 2015: $8,251Net Assets 2015: $2,048,9392015Assets 2016: $1,974,342Liabilities 2016: $1,802Net Assets 2016: $1,972,5402016Assets 2017: $1,968,925Liabilities 2017: $2,238Net Assets 2017: $1,966,6872017Assets 2018: $1,979,048Liabilities 2018: $10,404Net Assets 2018: $1,968,6442018Assets 2019: $2,059,929Liabilities 2019: $696Net Assets 2019: $2,059,2332019Assets 2020: $2,160,979Liabilities 2020: $0Net Assets 2020: $2,160,9792020Assets 2021: $2,623,488Liabilities 2021: $0Net Assets 2021: $2,623,4882021Assets 2022: $2,674,691Liabilities 2022: $0Net Assets 2022: $2,674,6912022Assets 2023: $2,810,860Liabilities 2023: $0Net Assets 2023: $2,810,8602023Assets 2024: $2,820,726Liabilities 2024: $0Net Assets 2024: $2,820,7262024

Highlighted filing

2017

Assets$1,968,925
Liabilities$2,238
Net Assets$1,966,687
Open 2017 Filing

Operations Trend

Revenue Growth87th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2011: $554,6542011Expenses 2012: $577,7632012Revenue 2013: $706,235Expenses 2013: $716,588Net Income 2013: -$10,3532013Revenue 2014: $818,972Expenses 2014: $716,846Net Income 2014: $102,1262014Revenue 2015: $776,526Expenses 2015: $707,307Net Income 2015: $69,2192015Revenue 2016: $654,444Expenses 2016: $730,843Net Income 2016: -$76,3992016Revenue 2017: $772,520Expenses 2017: $778,373Net Income 2017: -$5,8532017Revenue 2018: $825,970Expenses 2018: $824,013Net Income 2018: $1,9572018Revenue 2019: $907,319Expenses 2019: $816,730Net Income 2019: $90,5892019Revenue 2020: $836,715Expenses 2020: $734,969Net Income 2020: $101,7462020Revenue 2021: $1,354,928Expenses 2021: $892,419Net Income 2021: $462,5092021Revenue 2022: $1,014,723Expenses 2022: $963,520Net Income 2022: $51,2032022Revenue 2023: $1,073,542Expenses 2023: $937,373Net Income 2023: $136,1692023Revenue 2024: $942,867Expenses 2024: $933,001Net Income 2024: $9,8662024

Highlighted filing

2017

Revenue$772,520
Expenses$778,373
Net Income-$5,853
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jun 22, 2018
Return Version
2017v2.3
Gross Receipts
$921,164
Mission and Program Overview

Mission

The organization fosters sailing and sailing competitions. The club sponsors races and regattas as well as providing lessons to its members.

Yacht club. Foster sailing through lessons,races,regattas,etc.its also a social organization which encourages participation in the sailing programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,835,118$1,850,730▲ $15,612
Savings and Temporary Cash Investments$113,533$101,623▼ $11,910
Accounts Receivable$10,649$17,316▲ $6,667
Cash and Non-Interest-Bearing Accounts$15,042$-744▼ $15,786
Total Assets$1,974,342$1,968,925▼ $5,417
Liabilities
Other Liabilities$1,802$2,238▲ $436
Total Liabilities$1,802$2,238▲ $436
Net Assets / Fund Balance
Unrestricted Net Assets$1,972,540$1,966,687▼ $5,853
Total Net Assets Fund Balance$1,972,540$1,966,687▼ $5,853
Total Liabilities and Net Assets / Fund Balance$1,974,342$1,968,925▼ $5,417

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,134,235-$1,134,235
Other Land Buildings$716,495-$716,495
Compensation and Service Providers
Top Officer Pay72nd percentile

Board Members and Trustees

NameTitle
Dave HaleDirector
Doug GrahamDirector
James SchultzDirector
Janet JurgielewiczDirector
Jim HulmeDirector
John BarryDirector
John JohnsonDirector
Kristen SmythDirector
Norm WentworthDirector
Suzanne JackeyDirector
John SheehanCommodore
Sundy SchermeyerRear Commodore
-Secretary
Aram TerchunianTreasurer
Michael StrebelVice Commodore
Revenue and Support

Revenue Composition

Contributions and Grants
$461,980
Program Service Revenue
$145,459
Investment Income
$331
Other Revenue
$164,750
All Other Contributions
$250
Change in Net Assets
$-5,853
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$408,240
Other Expenses$370,133
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$375,786--$375,786
Occupancy$96,511--$96,511
Insurance$93,375--$93,375
Fees for Services Accounting$50,212--$50,212
Payroll Taxes$32,454--$32,454
Office Expenses$28,976--$28,976
Other Expenses$21,962--$21,962
Total Functional Expenses$778,373$0$0$778,373
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$52,845
Fundraising Direct Expenses$5,837
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Fundraiser$52,845$52,845$5,837$47,008
Total Events$52,845$52,845$5,837$47,008
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Tax Liability$1,330
Sales Tax Liability$600
Federal income taxes$308
Prepaid Chits-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Taxpayer and bookkeeper review the form 990. The treasurer then makes the 990 avilable to the board. The board approves the 990 and the treasurer signs the return.”

Form 990, Part IV, Section C, Line 19

“Tax returns and accounting records are available upon request.”

Form 990, Part VI, Section B, Line 15A

“Went to outside consulting firm to determine compensation.”

Filing and Contact Details

Filer

Filer Name
Westhampton Yacht Squadron Ltd
EIN
11-2136804
Phone
6313257762
Address
PO BOX 315, REMSENBURG, NY 11960-0315

Signing Officer

Name
Michael Strebel
Title
Treasurer
Signed
2018-06-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Strebel
Formed
1905
Legal Domicile
Ny
Voting Board Members
15
Independent Board Members
15
Employees
55

Preparer

Firm
Giaquinto and Company Cpas
Address
PO BOX 2014, REMSENBURG, NY 11960
Preparer
Joseph C Giaquinto CPA
Phone
6313257762
Supplemental Narrative

Additional Explanations

Form 990, Part IV, Section B, Line 12C

“Reviewed at annual meeting.”

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IRS990/OtherExpensesGrp/Desc1SUPPLIES
IRS990/OtherExpensesGrp/Desc2REAL ESTATE TAXES
IRS990/OtherExpensesGrp/ProgramServicesAmt030181
IRS990/OtherExpensesGrp/ProgramServicesAmt148916
IRS990/OtherExpensesGrp/ProgramServicesAmt221962
IRS990/OtherExpensesGrp/TotalAmt030181
IRS990/OtherExpensesGrp/TotalAmt148916
IRS990/OtherExpensesGrp/TotalAmt221962
IRS990/OtherLiabilitiesGrp/BOYAmt01802
IRS990/OtherLiabilitiesGrp/EOYAmt02238
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0375786
IRS990/OtherSalariesAndWagesGrp/TotalAmt0375786
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt032454
IRS990/PayrollTaxesGrp/TotalAmt032454
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0MICHAEL STREBEL
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/BusinessCd1611600
IRS990/ProgramServiceRevenueGrp/Desc0LESSONS
IRS990/ProgramServiceRevenueGrp/Desc1SAILING AND TENNIS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0132902
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt112557
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0132902
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt112557
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0405792
IRS990/PYInvestmentIncomeAmt0402
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0352414
IRS990/PYOtherRevenueAmt0121960
IRS990/PYProgramServiceRevenueAmt0126290
IRS990/PYRevenuesLessExpensesAmt0-76399
IRS990/PYSalariesCompEmpBnftPaidAmt0378429
IRS990/PYTotalExpensesAmt0730843
IRS990/PYTotalRevenueAmt0654444
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-5853
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt062605
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0772520
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0113533
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0101623
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01134235
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01134235
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0716495
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0716495
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0308
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11330
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2600
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL TAX LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SALES TAX LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3PREPAID CHITS
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01850730
IRS990ScheduleD/TotalLiabilityAmt02238
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt05837
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ANNUAL FUNDRAISER
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt052845
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt052845
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt052845
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt052845
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt047008
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt05837
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt05837
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TAXPAYER AND BOOKKEEPER REVIEW THE FORM 990. THE TREASURER THEN MAKES THE 990 AVILABLE TO THE BOARD. THE BOARD APPROVES THE 990 AND THE TREASURER SIGNS THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TAX RETURNS AND ACCOUNTING RECORDS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEWED AT ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3WENT TO OUTSIDE CONSULTING FIRM TO DETERMINE COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part IV, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part IV, Section B, Line 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15A
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01974342
IRS990/TotalAssetsEOYAmt01968925
IRS990/TotalAssetsGrp/BOYAmt01974342
IRS990/TotalAssetsGrp/EOYAmt01968925
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0461980
IRS990/TotalEmployeeCnt055
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0778373
IRS990/TotalFunctionalExpensesGrp/TotalAmt0778373
IRS990/TotalGrossUBIAmt020907
IRS990/TotalLiabilitiesBOYAmt01802
IRS990/TotalLiabilitiesEOYAmt02238
IRS990/TotalLiabilitiesGrp/BOYAmt01802
IRS990/TotalLiabilitiesGrp/EOYAmt02238
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01972540
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01966687
IRS990/TotalProgramServiceExpensesAmt0778373
IRS990/TotalProgramServiceRevenueAmt0145459
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0242625
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0772520
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt020907
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01974342
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01968925
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01972540
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01966687
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 315
IRS990/USAddress/CityNm0REMSENBURG
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011960
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0www.yachtsquadron.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL STREBEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-06-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WESTHAMPTON YACHT SQUADRON LTD
ReturnHeader/Filer/BusinessNameControlTxt0WEST
ReturnHeader/Filer/EIN0112136804
ReturnHeader/Filer/PhoneNum06313257762
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 315

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,968,925
Liabilities
$2,238
Net assets
$1,966,687
Revenue
$772,520
Expenses
$778,373
Net income
-$5,853
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.82$0.00$2.82$0.94$0.93$0.01
2023Detailed filing. Detailed filing data is available for this year.$2.81$0.00$2.81$1.07$0.94$0.14
2022Detailed filing. Detailed filing data is available for this year.$2.67$0.00$2.67$1.01$0.96$0.05
2021Detailed filing. Detailed filing data is available for this year.$2.62$0.00$2.62$1.35$0.89$0.46
2020Detailed filing. Detailed filing data is available for this year.$2.16$0.00$2.16$0.84$0.73$0.10
2019Detailed filing. Detailed filing data is available for this year.$2.06$0.00$2.06$0.91$0.82$0.09
2018Detailed filing. Detailed filing data is available for this year.$1.98$0.01$1.97$0.83$0.82$0.00
2017Detailed filing. Detailed filing data is available for this year.$1.97$0.00$1.97$0.77$0.78$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.97$0.00$1.97$0.65$0.73$0.08
2015Detailed filing. Detailed filing data is available for this year.$2.06$0.01$2.05$0.78$0.71$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.99$0.01$1.98$0.82$0.72$0.10
2013Detailed filing. Detailed filing data is available for this year.$2.43$0.55$1.88$0.71$0.72$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.90$0.01$1.89$0.58
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.64$0.01$1.63$0.55