Civic Intelligence

Westhampton Yacht Squadron Ltd

990 • Fiscal year 2019 • EIN 11-2136804

Jan 01, 2019 to Dec 31, 2019 • Filed on Jul 02, 2020

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

(631) 288-0388

Siviq Scores

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

Liabilities / Assets

11th percentile

0.00x

Higher debt load relative to assets than 11% of similar nonprofits.

2019 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

11th percentile

0.00x

Higher debt load relative to revenue than 11% of similar nonprofits.

2019 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2019

Net Margin

68th percentile

10.0%

Higher net margin than 68% of similar nonprofits.

2019 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

73rd percentile

$0

Higher top officer pay than 73% of similar nonprofits.

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

2019 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2019

Asset Growth

67th percentile

4.1%

Faster asset growth than 67% of similar nonprofits.

2019 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

76th percentile

9.8%

Faster revenue growth than 76% of similar nonprofits.

2019 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets11th percentile

Assets

Up

$2,059,929

Up $80,881 (+4.1%) from 2018

Net Assets

Up

$2,059,233

Up $90,589 (+4.6%) from 2018

Liabilities

Down

$696

Down $9,708 (-93%) from 2018

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin68th percentile

Revenue

Up

$907,319

Up $81,349 (+9.8%) from 2018

Expenses

Down

$816,730

Down $7,283 (-0.9%) from 2018

Net Income

Up

$90,589

Up $88,632 (+4529%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth67th 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

2019

Assets$2,059,929
Liabilities$696
Net Assets$2,059,233
Open 2019 Filing

Operations Trend

Revenue Growth76th 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

2019

Revenue$907,319
Expenses$816,730
Net Income$90,589
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jul 2, 2020
Return Version
2019v5.1
Gross Receipts
$1,043,637
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$1,894,684$1,937,202▲ $42,518
Savings and Temporary Cash Investments$53,668$98,502▲ $44,834
Accounts Receivable$15,063$18,630▲ $3,567
Cash and Non-Interest-Bearing Accounts$15,633$5,595▼ $10,038
Total Assets$1,979,048$2,059,929▲ $80,881
Liabilities
Other Liabilities$10,404$696▼ $9,708
Total Liabilities$10,404$696▼ $9,708
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,968,644$2,059,233▲ $90,589
Total Net Assets Fund Balance$1,968,644$2,059,233▲ $90,589
Total Liabilities and Net Assets / Fund Balance$1,979,048$2,059,929▲ $80,881

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,178,189-$1,178,189
Other Land Buildings$759,013-$759,013
Compensation and Service Providers
Top Officer Pay73rd percentile

Board Members and Trustees

NameTitle
Andrew GilbrideDirector
Dave HaleDirector
David KislaDirector
James SchultzDirector
John BarryDirector
John SheehanDirector
Kristen SmythDirector
Peggy Ann JayneDirector
Richard D BrittonDirector
Suzanne JackeyDirector
Michael StrebelCommodore
Nicholas G BorrusoRear Commodore
-Secretary
Aram TerchunianTreasurer
Sundy SchermeyerVice Commodore
Revenue and Support

Revenue Composition

Contributions and Grants
$585,819
Program Service Revenue
$147,983
Investment Income
$0
Other Revenue
$173,517
Change in Net Assets
$90,589
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$431,093
Other Expenses$385,637
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$380,501--$380,501
Insurance$89,522--$89,522
Occupancy$83,875--$83,875
Fees for Services Accounting$44,902--$44,902
Payroll Taxes$30,592--$30,592
Office Expenses$28,717--$28,717
Other Expenses$25,214--$25,214
Other Employee Benefits$20,000--$20,000
All Other Expenses$1,159--$1,159
Total Functional Expenses$816,730$0$0$816,730
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$63,348
Fundraising Direct Expenses$12,122
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Fundraiser Party$63,348$63,348-$63,348
Total Events$63,348$63,348$12,122$51,226
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prepaid Chits$6,195
Sales Tax Liability$601
Federal income taxes$254
Credit Card Payable-
Payroll Tax Liability$-6,354
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 35% controlled entity
No
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 C, Line 19

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

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

“Reviewed at annual meeting.”

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
6312880388
Address
PO BOX 315, REMSENBURG, NY 11960-0315

Signing Officer

Name
Michael Strebel
Title
Treasurer
Signed
2020-07-02
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
52

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 V, Section B, Line 11B

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

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IRS990/OtherExpensesGrp/Desc1SUPPLIES AND BOAT EXPENSES
IRS990/OtherExpensesGrp/Desc2REAL ESTATE TAXES
IRS990/OtherExpensesGrp/Desc3RACE EXPENSE,PERMITS AND CHILDRENS EXPENSE
IRS990/OtherExpensesGrp/ProgramServicesAmt036123
IRS990/OtherExpensesGrp/ProgramServicesAmt158993
IRS990/OtherExpensesGrp/ProgramServicesAmt217132
IRS990/OtherExpensesGrp/ProgramServicesAmt325214
IRS990/OtherExpensesGrp/TotalAmt036123
IRS990/OtherExpensesGrp/TotalAmt158993
IRS990/OtherExpensesGrp/TotalAmt217132
IRS990/OtherExpensesGrp/TotalAmt325214
IRS990/OtherLiabilitiesGrp/BOYAmt010404
IRS990/OtherLiabilitiesGrp/EOYAmt0696
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0380501
IRS990/OtherSalariesAndWagesGrp/TotalAmt0380501
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt030592
IRS990/PayrollTaxesGrp/TotalAmt030592
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0MICHAEL STREBEL
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/BusinessCd1616000
IRS990/ProgramServiceRevenueGrp/Desc0LESSONS
IRS990/ProgramServiceRevenueGrp/Desc1REGATTA
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0142663
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt15320
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0485515
IRS990/PYInvestmentIncomeAmt01129
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0403968
IRS990/PYOtherRevenueAmt0177496
IRS990/PYProgramServiceRevenueAmt0161830
IRS990/PYRevenuesLessExpensesAmt01957
IRS990/PYSalariesCompEmpBnftPaidAmt0420045
IRS990/PYTotalExpensesAmt0824013
IRS990/PYTotalRevenueAmt0825970
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt090589
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt045540
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0907319
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt053668
IRS990/SavingsAndTempCashInvstGrp/EOYAmt098502
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01178189
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01178189
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0759013
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0759013
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0254
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1-6354
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2601
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt36195
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL TAX LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SALES TAX LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3PREPAID CHITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4CREDIT CARD PAYABLE
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01937202
IRS990ScheduleD/TotalLiabilityAmt0696
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt012122
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ANNUAL FUNDRAISER PARTY
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt012122
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt012122
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt063348
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt063348
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt063348
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt063348
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt051226
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TAXPAYER AND BOOKKEEPER REVIEW THE FORM 990. THE TREASURER THEN MAKES THE 990 AVAILABLE 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 V, Section B, Line 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15A
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01979048
IRS990/TotalAssetsEOYAmt02059929
IRS990/TotalAssetsGrp/BOYAmt01979048
IRS990/TotalAssetsGrp/EOYAmt02059929
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0585819
IRS990/TotalEmployeeCnt052
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0816730
IRS990/TotalFunctionalExpensesGrp/TotalAmt0816730
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010404
IRS990/TotalLiabilitiesEOYAmt0696
IRS990/TotalLiabilitiesGrp/BOYAmt010404
IRS990/TotalLiabilitiesGrp/EOYAmt0696
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01968644
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02059233
IRS990/TotalProgramServiceExpensesAmt0816730
IRS990/TotalProgramServiceRevenueAmt0147983
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0907319
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01979048
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02059929
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
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/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL STREBEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WESTHAMPTON YACHT SQUADRON LTD
ReturnHeader/Filer/BusinessNameControlTxt0WEST
ReturnHeader/Filer/EIN0112136804
ReturnHeader/Filer/PhoneNum06312880388
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 315

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,059,929
Liabilities
$696
Net assets
$2,059,233
Revenue
$907,319
Expenses
$816,730
Net income
$90,589
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