Civic Intelligence

Fairfax Yacht Club Inc

EIN 54-1249543 • 501(c)7 • Mason Neck, VA

Profile

To provide and maintain yacht club and boating facilities to members, which include residents of nearby residential areas, for their pleasure and recreation as well as to encourage yachting and the cultivation of naval science.

10721 Old Colchester RoadMason Neck, VA 22079

www.fairfaxyachtclub.com

Siviq Scores

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

Liabilities / Assets

69th percentile

0.37x

Higher debt load relative to assets than 69% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

93rd percentile

3.17x

Higher debt load relative to revenue than 93% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Source year 2024

Net Margin

29th percentile

-1.0%

Higher net margin than 29% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Source year 2024

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 2024

Asset Growth

26th percentile

-2.5%

Faster asset growth than 26% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

85th percentile

24%

Faster revenue growth than 85% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$2,204,318

Up $55,687 (+2.6%) from 2021

Liabilities

Up

$797,273

Up $101,743 (+15%) from 2021

Net Assets

Down

$1,407,045

Down $46,056 (-3.2%) from 2021

Revenue

Up

$222,704

Up $21,565 (+11%) from 2021

Expenses

Up

$268,760

Up $22,956 (+9.3%) from 2021

Net Income

Down

-$46,056

Down $1,391 (-3.1%) from 2021

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,858,889Liabilities 2011: $26Net Assets 2011: $1,858,8632011Assets 2014: $2,186,046Liabilities 2014: $230,133Net Assets 2014: $1,955,9132014Assets 2016: $2,247,572Liabilities 2016: $261,613Net Assets 2016: $1,985,9592016Assets 2017: $2,054,312Liabilities 2017: $265,494Net Assets 2017: $1,788,8182017Assets 2018: $2,073,796Liabilities 2018: $264,294Net Assets 2018: $1,809,5022018Assets 2019: $2,088,330Liabilities 2019: $284,041Net Assets 2019: $1,804,2892019Assets 2020: $2,098,336Liabilities 2020: $259,082Net Assets 2020: $1,839,2542020Assets 2021: $2,148,631Liabilities 2021: $695,530Net Assets 2021: $1,453,1012021Assets 2022: $2,204,318Liabilities 2022: $797,273Net Assets 2022: $1,407,0452022

Highlighted filing

2022

Assets$2,204,318
Liabilities$797,273
Net Assets$1,407,045

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2011: $205,8562011Revenue 2014: $232,480Expenses 2014: $196,763Net Income 2014: $35,7172014Revenue 2016: $247,065Expenses 2016: $231,223Net Income 2016: $15,8422016Revenue 2017: $272,350Expenses 2017: $469,491Net Income 2017: -$197,1412017Revenue 2018: $267,680Expenses 2018: $246,996Net Income 2018: $20,6842018Revenue 2019: $272,795Expenses 2019: $278,008Net Income 2019: -$5,2132019Revenue 2020: $275,240Expenses 2020: $240,275Net Income 2020: $34,9652020Revenue 2021: $201,139Expenses 2021: $245,804Net Income 2021: -$44,6652021Revenue 2022: $222,704Expenses 2022: $268,760Net Income 2022: -$46,0562022

Highlighted filing

2022

Revenue$222,704
Expenses$268,760
Net Income-$46,056

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Mar 1, 2021 to Feb 28, 2022
Signed
Dec 13, 2022
Return Version
2021v4.2
Gross Receipts
$222,704
Mission and Program Overview

Mission

To provide and maintain condominium yacht club and boating facilities to members for their pleasure and recreation as well as to encourage yachting and the cultivation of naval science.

To provide and maintain yacht club and boating facilities to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$945,618$1,052,830▲ $107,212
Land, Buildings, and Equipment, Net$1,021,650$998,874▼ $22,776
Accounts Receivable$172,289$150,031▼ $22,258
Inventories for Sale or Use$3,990$0▼ $3,990
Prepaid Expenses and Deferred Charges$947$2,583▲ $1,636
Total Assets$2,148,631$2,204,318▲ $55,687
Other Assets Total$4,137$0▼ $4,137
Liabilities
Deferred Revenue$688,617$775,755▲ $87,138
Accounts Payable and Accrued Expenses$6,913$21,518▲ $14,605
Total Liabilities$695,530$797,273▲ $101,743
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,451,858$1,406,667▼ $45,191
Net Assets With Donor Restrictions$1,243$378▼ $865
Total Net Assets Fund Balance$1,453,101$1,407,045▼ $46,056
Total Liabilities and Net Assets / Fund Balance$2,148,631$2,204,318▲ $55,687

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$816,103$349,759$1,165,862
Other Land Buildings$182,771$441,071$623,842
Compensation and Service Providers

Board Members and Trustees

NameTitle
Bill MansourCommodore
Wes MedleySecretary
Marc KhouryTreasurer
Marty MartinVice Commodore - Power
Katie VereenVice Commodore - Sail
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$205,127
Investment Income
$3,213
Other Revenue
$14,364
Change in Net Assets
$-46,056
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$211,303
Salaries, Compensation, and Employee Benefits$57,457
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$60,374
Other Salaries and Wages---$57,457
Insurance---$29,257
Fees for Services Accounting---$15,586
Other Expenses---$6,005
Office Expenses---$5,650
Information Technology---$5,538
All Other Expenses---$458
Fees for Services Legal---$100
Total Functional Expenses$0$0$0$268,760
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
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 membership consists of boat slip (condominum unit) owners. No units are owned by fyc.

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

The membership elects the board of directors at its annual meeting.

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

The general membership must approve, by majority vote, any decisions by the board of directors to incur additions, alterations, or improvements to the common elements during any fiscal year costing in excess of 10% of that fiscal year's budget.

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

Each member of the board of directors was provided a draft copy of the 990 to review prior to filing.

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

The conflict of interest policy is monitored throughout the year. If a potential conflict is identified, the interested person may not participate in the discussion or vote on the matter under consideration. New and returning board members formally review the conflict of interest policy annually.

Form 990, Part VI, Section C, Line 19

The organization's governing documents are made available to the general public upon request.

Filing and Contact Details

Filer

Filer Name
Fairfax Yacht Club Inc
EIN
54-1249543
Phone
7033398736
Address
10721 OLD COLCHESTER ROAD, MASON NECK, VA 22079

Signing Officer

Name
Bill Mansour
Title
Commodore
Phone
7033398736
Signed
2022-12-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bill Mansour
Formed
1984
Legal Domicile
Va
Voting Board Members
5
Independent Board Members
5
Employees
1
Volunteers
5

Preparer

Firm
Citrin Cooperman Advisors LLC
Address
3998 FAIR RIDGE DR SUITE 360, FAIRFAX, VA 22033
Preparer
Allison Parsons
Phone
7032814880
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The board of directors oversight process has not changed from the prior year.

Raw XML Appendix319 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/TitleTxt1TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE COMMODORE - SAIL
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MEMBERSHIP CONSISTS OF BOAT SLIP (CONDOMINUM UNIT) OWNERS. NO UNITS ARE OWNED BY FYC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERSHIP ELECTS THE BOARD OF DIRECTORS AT ITS ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GENERAL MEMBERSHIP MUST APPROVE, BY MAJORITY VOTE, ANY DECISIONS BY THE BOARD OF DIRECTORS TO INCUR ADDITIONS, ALTERATIONS, OR IMPROVEMENTS TO THE COMMON ELEMENTS DURING ANY FISCAL YEAR COSTING IN EXCESS OF 10% OF THAT FISCAL YEAR'S BUDGET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EACH MEMBER OF THE BOARD OF DIRECTORS WAS PROVIDED A DRAFT COPY OF THE 990 TO REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CONFLICT OF INTEREST POLICY IS MONITORED THROUGHOUT THE YEAR. IF A POTENTIAL CONFLICT IS IDENTIFIED, THE INTERESTED PERSON MAY NOT PARTICIPATE IN THE DISCUSSION OR VOTE ON THE MATTER UNDER CONSIDERATION. NEW AND RETURNING BOARD MEMBERS FORMALLY REVIEW THE CONFLICT OF INTEREST POLICY ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD OF DIRECTORS OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
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 B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
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IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02148631
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02204318
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt010721 OLD COLCHESTER ROAD
IRS990/USAddress/CityNm0MASON NECK
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd022079
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.FAIRFAXYACHTCLUB.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BILL MANSOUR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0COMMODORE
ReturnHeader/BusinessOfficerGrp/PhoneNum07033398736
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-12-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FAIRFAX YACHT CLUB INC
ReturnHeader/Filer/BusinessNameControlTxt0FAIR
ReturnHeader/Filer/EIN0541249543
ReturnHeader/Filer/PhoneNum07033398736
ReturnHeader/Filer/USAddress/AddressLine1Txt010721 OLD COLCHESTER ROAD
ReturnHeader/Filer/USAddress/CityNm0MASON NECK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd022079
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0872525370
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CITRIN COOPERMAN ADVISORS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03998 FAIR RIDGE DR SUITE 360
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FAIRFAX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd022033
ReturnHeader/PreparerPersonGrp/PhoneNum07032814880
ReturnHeader/PreparerPersonGrp/PreparationDt02022-12-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALLISON PARSONS
ReturnHeader/ReturnTs02022-12-14T13:23:45-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BILL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MANSOUR
ReturnHeader/TaxPeriodBeginDt02021-03-01
ReturnHeader/TaxPeriodEndDt02022-02-28
ReturnHeader/TaxYr02021

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