Civic Intelligence

Miles River Yacht Club Inc

EIN 52-0414916 • 501(c)7 • St Michaels, MD

Profile

The purpose of the club is to encourage traditional eastern shore recreational activities on the water.

PO Box 158St Michaels, MD 21663

milesriveryc.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

78th percentile

0.50x

Higher debt load relative to assets than 78% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

78th percentile

0.98x

Higher debt load relative to revenue than 78% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Source year 2025

Net Margin

77th percentile

19%

Higher net margin than 77% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

80th percentile

$0

Higher top officer pay than 80% of similar nonprofits.

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

501(c)7 • $1M-$5M nonprofits • Source year 2025

Asset Growth

73rd percentile

8.1%

Faster asset growth than 73% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

65th percentile

10%

Faster revenue growth than 65% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$3,540,001

Up $255,021 (+7.8%) from 2023

Liabilities

Down

$2,002,970

Down $12,490 (-0.6%) from 2023

Net Assets

Up

$1,537,031

Up $267,511 (+21%) from 2023

Operations
Liabilities / Revenue78th percentileNet Margin77th percentile

Revenue

Down

$1,779,817

Down $128,837 (-6.8%) from 2023

Expenses

Up

$1,512,306

Up $19,896 (+1.3%) from 2023

Net Income

Down

$267,511

Down $148,733 (-36%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth73rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $3,382,847Liabilities 2010: $2,960,542Net Assets 2010: $422,3052010Assets 2011: $3,317,584Liabilities 2011: $2,846,403Net Assets 2011: $471,1812011Assets 2012: $3,229,460Liabilities 2012: $2,689,433Net Assets 2012: $540,0272012Assets 2013: $3,130,467Liabilities 2013: $2,536,234Net Assets 2013: $594,2332013Assets 2014: $2,981,039Liabilities 2014: $2,375,890Net Assets 2014: $605,1492014Assets 2015: $2,853,397Liabilities 2015: $2,242,621Net Assets 2015: $610,7762015Assets 2016: $2,752,940Liabilities 2016: $2,063,082Net Assets 2016: $689,8582016Assets 2017: $2,711,750Liabilities 2017: $1,911,495Net Assets 2017: $800,2552017Assets 2018: $2,530,296Liabilities 2018: $1,711,761Net Assets 2018: $818,5352018Assets 2019: $2,411,605Liabilities 2019: $1,500,386Net Assets 2019: $911,2192019Assets 2020: $2,885,016Liabilities 2020: $1,965,073Net Assets 2020: $919,9432020Assets 2021: $2,973,633Liabilities 2021: $2,038,477Net Assets 2021: $935,1562021Assets 2022: $2,887,153Liabilities 2022: $2,033,877Net Assets 2022: $853,2762022Assets 2023: $3,284,980Liabilities 2023: $2,015,460Net Assets 2023: $1,269,5202023Assets 2024: $3,540,001Liabilities 2024: $2,002,970Net Assets 2024: $1,537,0312024

Highlighted filing

2024

Assets$3,540,001
Liabilities$2,002,970
Net Assets$1,537,031
Open 2024 Filing

Operations Trend

Revenue Growth65th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $995,0312010Expenses 2011: $1,014,9862011Expenses 2012: $997,8922012Expenses 2013: $949,0262013Revenue 2014: $1,012,568Expenses 2014: $999,032Net Income 2014: $13,5362014Revenue 2015: $1,010,876Expenses 2015: $1,005,249Net Income 2015: $5,6272015Revenue 2016: $1,020,477Expenses 2016: $941,395Net Income 2016: $79,0822016Revenue 2017: $1,056,363Expenses 2017: $945,966Net Income 2017: $110,3972017Revenue 2018: $1,007,264Expenses 2018: $988,984Net Income 2018: $18,2802018Revenue 2019: $1,020,859Expenses 2019: $928,175Net Income 2019: $92,6842019Revenue 2020: $980,699Expenses 2020: $971,975Net Income 2020: $8,7242020Revenue 2021: $1,174,449Expenses 2021: $1,159,236Net Income 2021: $15,2132021Revenue 2022: $1,355,111Expenses 2022: $1,436,991Net Income 2022: -$81,8802022Revenue 2023: $1,908,654Expenses 2023: $1,492,410Net Income 2023: $416,2442023Revenue 2024: $1,779,817Expenses 2024: $1,512,306Net Income 2024: $267,5112024

Highlighted filing

2024

Revenue$1,779,817
Expenses$1,512,306
Net Income$267,511
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,540,001
Liabilities
$2,002,970
Net assets
$1,537,031
Revenue
$1,779,817
Expenses
$1,512,306
Net income
$267,511
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.54$2.00$1.54$1.78$1.51$0.27
2023Detailed filing. Detailed filing data is available for this year.$3.28$2.02$1.27$1.91$1.49$0.42
2022Detailed filing. Detailed filing data is available for this year.$2.89$2.03$0.85$1.36$1.44$0.08
2021Detailed filing. Detailed filing data is available for this year.$2.97$2.04$0.94$1.17$1.16$0.02
2020Detailed filing. Detailed filing data is available for this year.$2.89$1.97$0.92$0.98$0.97$0.01
2019Detailed filing. Detailed filing data is available for this year.$2.41$1.50$0.91$1.02$0.93$0.09
2018Detailed filing. Detailed filing data is available for this year.$2.53$1.71$0.82$1.01$0.99$0.02
2017Detailed filing. Detailed filing data is available for this year.$2.71$1.91$0.80$1.06$0.95$0.11
2016Detailed filing. Detailed filing data is available for this year.$2.75$2.06$0.69$1.02$0.94$0.08
2015Detailed filing. Detailed filing data is available for this year.$2.85$2.24$0.61$1.01$1.01$0.01
2014Detailed filing. Detailed filing data is available for this year.$2.98$2.38$0.61$1.01$1.00$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.13$2.54$0.59$0.95
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.23$2.69$0.54$1.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.32$2.85$0.47$1.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.38$2.96$0.42$1.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Nov 1, 2023 to Oct 31, 2024
Signed
Feb 13, 2025
Return Version
2023v6.0
Gross Receipts
$3,411,940
Mission and Program Overview

Mission

The purpose of the club is to encourage traditional eastern shore recreational activities on the water.

To provide traditional eastern shore activities and maintain facilities surrounding the water.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,398,379$2,293,082▼ $105,297
Cash and Non-Interest-Bearing Accounts$544,801$940,143▲ $395,342
Accounts Receivable$262,213$226,482▼ $35,731
Inventories for Sale or Use$47,923$46,402▼ $1,521
Prepaid Expenses and Deferred Charges$20,472$22,604▲ $2,132
Total Assets$3,284,980$3,540,001▲ $255,021
Other Assets Total$11,192$11,288▲ $96
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,767,123$1,719,361▼ $47,762
Deferred Revenue$174,596$198,849▲ $24,253
Accounts Payable and Accrued Expenses$73,741$84,760▲ $11,019
Total Liabilities$2,015,460$2,002,970▼ $12,490
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,269,520$1,537,031▲ $267,511
Total Net Assets Fund Balance$1,269,520$1,537,031▲ $267,511
Total Liabilities and Net Assets / Fund Balance$3,284,980$3,540,001▲ $255,021

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$2,004,332$2,272,625$4,276,957
Buildings$181,468$457,993$639,461
Equipment$28,319$347,014$375,333
Other Land Buildings$69,130$215,443$284,573
Land$9,833-$9,833
Compensation and Service Providers
Top Officer Pay80th percentile

Board Members and Trustees

NameTitle
Adam OwensDirector/govenor
Bill MischkeDirector/govenor
Clay CampbellDirector/govenor
Doug AbbottDirector/govenor
Jean BrooksDirector/govenor
Paul ConnollyDirector/govenor
Rob NobleDirector/govenor
Robert FoleyDirector/govenor
Nick SimpsonCommodore
Andrew SouthworthF/c
Matt KealyR/c
Jennifer WilliansSecretary
John HinesTreasurer
Dennis KellyVice Commodore
Revenue and Support

Revenue Composition

Contributions and Grants
$1,563,053
Program Service Revenue
$286,093
Investment Income
$25,447
Other Revenue
$-94,776
Change in Net Assets
$267,511
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$812,359
Salaries, Compensation, and Employee Benefits$699,947
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$648,966
Depreciation Depletion---$199,132
Occupancy---$91,884
Interest---$78,128
Information Technology---$63,291
Insurance---$56,076
Other Employee Benefits---$50,981
Other Expenses---$47,748
Advertising---$13,181
Fees for Services Accounting---$7,000
Office Expenses---$3,181
All Other Expenses---$-14,259
Total Functional Expenses$0$0$0$1,512,306
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The yacht club consists of members. There are six classes of membership: senior, intermediate, junior, honored services, honorary and associate.”

Form 990, Part VI, Section A, Line 7A

“The board of governors appoints a nominating committee who proposes a slate of eligible members for election to the board. The nominees are presented at the september quarterly meeting. The newly elected begin their term on november 1 of each year. Only senior, intermediate and honored services members may vote or hold office.”

Form 990, Part VI, Section A, Line 7B

“The following actions require authorization by the membership at the membership meeting and can only be considered if the membership has been informed of the proposed action at least 30 days before the meeting: increase in dues, assessments, borrowing of funds, disbursement from the property improvement fund, sell or transfer of ownership of any club owned real estate.”

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

“A copy of a draft form 990 is presented and reviewed by the treasurer before the actual filing.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents and financial statements are available to all members of the club. Outside review of such documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Miles River Yacht Club Inc
EIN
52-0414916
Phone
4107459511
Address
PO BOX 158, ST MICHAELS, MD 21663

Signing Officer

Name
John Hines
Title
Treasurer
Phone
4107459511
Signed
2025-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Hines
Formed
1920
Legal Domicile
Md
Voting Board Members
14
Independent Board Members
14
Employees
95
Volunteers
59

Preparer

Firm
Bsc Group LLC
Address
114 BAY STREET BLDG A, EASTON, MD 21601
Preparer
Corey Duncan
Phone
4108224008
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“General board of governors responsibility”

Financial Statement Notes

PART X, LINE 2:

“The club is exempt from federal income tax under section 501(c)(7) of the internal revenue code, except for activity representing unrelated business income and interest income greater than $1,000. Unrelated business income is included in income on the statement of revenues, expenses and changes in members equity. For the years ended october 31, 2024 and 2023, net activity from unrelated business activities resulted in taxes paid of $7,225 and $3,628, respectively. There were no deferred income taxes in 2024. The club assesses its income tax positions and records tax benefits for all years subject to examination based upon management's evaluation of the facts, circumstances, and information available at the reporting date. The club's federal forms 990, return of organization exempt from income tax, and forms 990-t, exempt organization business income tax returns, are generally subject to examination by the internal revenue service, for three years after they were filed. At october 31, 2024, management believes there are no uncertain tax positions.”

Raw XML AppendixShowing 400 of 433 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm5JOHN HINES
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IRS990/Form990PartVIISectionAGrp/TitleTxt0COMMODORE
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE COMMODORE
IRS990/Form990PartVIISectionAGrp/TitleTxt2R/C
IRS990/Form990PartVIISectionAGrp/TitleTxt3F/C
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR/GOVENOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR/GOVENOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR/GOVENOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR/GOVENOR
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IRS990/GainOrLossGrp/OtherAmt0250
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt014
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt0250
IRS990/GrossReceiptsAmt03411940
IRS990/GrossReceiptsForPublicUseAmt00
IRS990/GrossRentsGrp/RealAmt0194007
IRS990/GrossSalesOfInventoryAmt01208827
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt014
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/TotalAmt063291
IRS990/InitiationFeesAndCapContriAmt00
IRS990/InsuranceGrp/TotalAmt056076
IRS990/InterestGrp/TotalAmt078128
IRS990/InventoriesForSaleOrUseGrp/BOYAmt047923
IRS990/InventoriesForSaleOrUseGrp/EOYAmt046402
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt025197
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt025197
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt013
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt03293075
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02398379
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02293082
IRS990/LandBldgEquipCostOrOtherBssAmt05586157
IRS990/LegalDomicileStateCd0MD
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt00
IRS990/LessRentalExpensesGrp/RealAmt0194007
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembershipDuesAmt01563053
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE PURPOSE OF THE CLUB IS TO ENCOURAGE TRADITIONAL EASTERN SHORE RECREATIONAL ACTIVITIES ON THE WATER.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt01767123
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt01719361
IRS990/NetAssetsOrFundBalancesBOYAmt01269520
IRS990/NetAssetsOrFundBalancesEOYAmt01537031
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0250
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0250
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt0-229289
IRS990/NetIncomeOrLossGrp/UnrelatedBusinessRevenueAmt0-229289
IRS990/NetUnrelatedBusTxblIncmAmt024197
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01269520
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01537031
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt091884
IRS990/OfficeExpensesGrp/TotalAmt03181
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt011192
IRS990/OtherAssetsTotalGrp/EOYAmt011288
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt050981
IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc1SUPPLIES
IRS990/OtherExpensesGrp/Desc2JR. SAILING
IRS990/OtherExpensesGrp/Desc3ENTERTAINMENT, SPECIAL
IRS990/OtherExpensesGrp/TotalAmt0139889
IRS990/OtherExpensesGrp/TotalAmt178789
IRS990/OtherExpensesGrp/TotalAmt248319
IRS990/OtherExpensesGrp/TotalAmt347748
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0ERC
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt084553
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt149960
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt084553
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt149960
IRS990/OtherRevenueTotalAmt0134513
IRS990/OtherSalariesAndWagesGrp/TotalAmt0648966
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt020472
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt022604
IRS990/PrincipalOfficerNm0JOHN HINES
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/Desc0ASSOCIATIONS
IRS990/ProgramServiceRevenueGrp/Desc1ENTERTAINMENT/SPEC EVEN
IRS990/ProgramServiceRevenueGrp/Desc2POOL
IRS990/ProgramServiceRevenueGrp/Desc3SAIL COMMITTEE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0217706
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt129224
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt228905
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt310258
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0217706
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt129224
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt228905
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt310258
IRS990/ProgSrvcAccomActy2Grp/Desc0DUES ARE PAID BY MEMBERS TO CONTINUE THE EXISTENCE OF THE CLUB. THIS INCOME PAYS FOR OPERATIONS OF THE CLUB.
IRS990/ProgSrvcAccomActy3Grp/Desc0THE YACHT CLUB HAS SEVERAL MISCELLANEOUS RELATED ACTIVITIES, FOR EXAMPLE A YEARBOOK IS PUBLISHED ANNUALLY FOR THE USEFULNESS OF THE CLUB.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01408949
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt014905
IRS990/PYOtherExpensesAmt0772087
IRS990/PYOtherRevenueAmt0190378
IRS990/PYProgramServiceRevenueAmt0294422
IRS990/PYRevenuesLessExpensesAmt0416244
IRS990/PYSalariesCompEmpBnftPaidAmt0720323
IRS990/PYTotalExpensesAmt01492410
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01908654
IRS990/ReconcilationRevenueExpnssAmt0267511
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0181468
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0457993
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0639461
IRS990ScheduleD/EquipmentGrp/BookValueAmt028319
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0347014
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0375333
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt09833
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt09833
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02004332
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02272625
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt04276957
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt069130
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0215443
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0284573
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CLUB IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE, EXCEPT FOR ACTIVITY REPRESENTING UNRELATED BUSINESS INCOME AND INTEREST INCOME GREATER THAN $1,000. UNRELATED BUSINESS INCOME IS INCLUDED IN INCOME ON THE STATEMENT OF REVENUES, EXPENSES AND CHANGES IN MEMBERS EQUITY. FOR THE YEARS ENDED OCTOBER 31, 2024 AND 2023, NET ACTIVITY FROM UNRELATED BUSINESS ACTIVITIES RESULTED IN TAXES PAID OF $7,225 AND $3,628, RESPECTIVELY. THERE WERE NO DEFERRED INCOME TAXES IN 2024. THE CLUB ASSESSES ITS INCOME TAX POSITIONS AND RECORDS TAX BENEFITS FOR ALL YEARS SUBJECT TO EXAMINATION BASED UPON MANAGEMENT'S EVALUATION OF THE FACTS, CIRCUMSTANCES, AND INFORMATION AVAILABLE AT THE REPORTING DATE. THE CLUB'S FEDERAL FORMS 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, AND FORMS 990-T, EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS, ARE GENERALLY SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, FOR THREE YEARS AFTER THEY WERE FILED. AT OCTOBER 31, 2024, MANAGEMENT BELIEVES THERE ARE NO UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02293082
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE YACHT CLUB CONSISTS OF MEMBERS. THERE ARE SIX CLASSES OF MEMBERSHIP: SENIOR, INTERMEDIATE, JUNIOR, HONORED SERVICES, HONORARY AND ASSOCIATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF GOVERNORS APPOINTS A NOMINATING COMMITTEE WHO PROPOSES A SLATE OF ELIGIBLE MEMBERS FOR ELECTION TO THE BOARD. THE NOMINEES ARE PRESENTED AT THE SEPTEMBER QUARTERLY MEETING. THE NEWLY ELECTED BEGIN THEIR TERM ON NOVEMBER 1 OF EACH YEAR. ONLY SENIOR, INTERMEDIATE AND HONORED SERVICES MEMBERS MAY VOTE OR HOLD OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FOLLOWING ACTIONS REQUIRE AUTHORIZATION BY THE MEMBERSHIP AT THE MEMBERSHIP MEETING AND CAN ONLY BE CONSIDERED IF THE MEMBERSHIP HAS BEEN INFORMED OF THE PROPOSED ACTION AT LEAST 30 DAYS BEFORE THE MEETING: INCREASE IN DUES, ASSESSMENTS, BORROWING OF FUNDS, DISBURSEMENT FROM THE PROPERTY IMPROVEMENT FUND, SELL OR TRANSFER OF OWNERSHIP OF ANY CLUB OWNED REAL ESTATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF A DRAFT FORM 990 IS PRESENTED AND REVIEWED BY THE TREASURER BEFORE THE ACTUAL FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO ALL MEMBERS OF THE CLUB. OUTSIDE REVIEW OF SUCH DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GENERAL BOARD OF GOVERNORS RESPONSIBILITY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0MRYC FUNDING LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0260894123
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt00
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0MD
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0CONDUIT FOR REAL ESTATE LENDING PURPOSES
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt00
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt024750 YACHT CLUB ROAD
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0ST MICHAELS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0MD
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd021663
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03284980
IRS990/TotalAssetsEOYAmt03540001
IRS990/TotalAssetsGrp/BOYAmt03284980
IRS990/TotalAssetsGrp/EOYAmt03540001
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01563053
IRS990/TotalEmployeeCnt095
IRS990/TotalFunctionalExpensesGrp/TotalAmt01512306
IRS990/TotalGrossUBIAmt0-204092
IRS990/TotalLiabilitiesBOYAmt02015460
IRS990/TotalLiabilitiesEOYAmt02002970
IRS990/TotalLiabilitiesGrp/BOYAmt02015460
IRS990/TotalLiabilitiesGrp/EOYAmt02002970
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01269520
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01537031
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0286093
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0420856
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01779817
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0-204092
IRS990/TotalVolunteersCnt059
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03284980
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03540001
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 158
IRS990/USAddress/CityNm0ST MICHAELS
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021663

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