Civic Intelligence

Nbc Inc

990 • Fiscal year 2020 • EIN 54-1461275

Jan 01, 2020 to Dec 31, 2020 • Filed on May 11, 2021

Organization Profilewww.norfolkboatclub.org
432 W Freemason StreetNorfolk, VA 23510

(757) 200-9680

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.26x

Higher debt load relative to assets than 83% of similar nonprofits.

2020 filings • 501(c)7 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

91st percentile

0.89x

Higher debt load relative to revenue than 91% of similar nonprofits.

2020 filings • 501(c)7 • <$500k nonprofits • Source year 2020

Net Margin

89th percentile

32%

Higher net margin than 89% of similar nonprofits.

2020 filings • 501(c)7 • <$500k nonprofits • Source year 2020

Top Officer Pay

92nd percentile

$0

Higher top officer pay than 92% of similar nonprofits.

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

2020 filings • 501(c)7 • <$500k nonprofits • Source year 2020

Asset Growth

64th percentile

7.5%

Faster asset growth than 64% of similar nonprofits.

2020 filings • 501(c)7 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

43rd percentile

-20%

Faster revenue growth than 43% of similar nonprofits.

2020 filings • 501(c)7 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$481,750

Up $33,812 (+7.5%) from 2019

Net Assets

Up

$356,650

Up $45,930 (+15%) from 2019

Liabilities

Down

$125,100

Down $12,118 (-8.8%) from 2019

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin89th percentile

Revenue

Down

$141,321

Down $34,730 (-20%) from 2019

Expenses

Down

$95,588

Down $404 (-0.4%) from 2019

Net Income

Down

$45,733

Down $34,326 (-43%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth64th percentile

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

$600K$400K$200K$0Assets 2011: $114,292Liabilities 2011: $189Net Assets 2011: $114,1032011Assets 2012: $107,859Liabilities 2012: $240Net Assets 2012: $107,6192012Assets 2013: $121,278Liabilities 2013: $0Net Assets 2013: $121,2782013Assets 2014: $128,876Liabilities 2014: $0Net Assets 2014: $128,8762014Assets 2015: $133,605Liabilities 2015: $0Net Assets 2015: $133,6052015Assets 2016: $366,786Liabilities 2016: $178,651Net Assets 2016: $188,1352016Assets 2017: $391,011Liabilities 2017: $167,331Net Assets 2017: $223,6802017Assets 2018: $381,659Liabilities 2018: $152,655Net Assets 2018: $229,0042018Assets 2019: $447,938Liabilities 2019: $137,218Net Assets 2019: $310,7202019Assets 2020: $481,750Liabilities 2020: $125,100Net Assets 2020: $356,6502020Assets 2021: $516,468Liabilities 2021: $117,745Net Assets 2021: $398,7232021Assets 2022: $521,685Liabilities 2022: $83,238Net Assets 2022: $438,4472022Assets 2023: $552,686Liabilities 2023: $61,355Net Assets 2023: $491,3312023Assets 2024: $560,613Liabilities 2024: $38,462Net Assets 2024: $522,1512024

Highlighted filing

2020

Assets$481,750
Liabilities$125,100
Net Assets$356,650
Open 2020 Filing

Operations Trend

Revenue Growth43rd percentile

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

$200K$150K$100K$50K$0Expenses 2011: $80,9072011Expenses 2012: $81,8982012Revenue 2013: $100,520Expenses 2013: $86,912Net Income 2013: $13,6082013Revenue 2014: $96,059Expenses 2014: $88,735Net Income 2014: $7,3242014Revenue 2015: $88,055Expenses 2015: $83,326Net Income 2015: $4,7292015Revenue 2016: $155,013Expenses 2016: $100,367Net Income 2016: $54,6462016Revenue 2017: $141,298Expenses 2017: $106,105Net Income 2017: $35,1932017Revenue 2018: $125,949Expenses 2018: $120,874Net Income 2018: $5,0752018Revenue 2019: $176,051Expenses 2019: $95,992Net Income 2019: $80,0592019Revenue 2020: $141,321Expenses 2020: $95,588Net Income 2020: $45,7332020Revenue 2021: $143,528Expenses 2021: $101,455Net Income 2021: $42,0732021Revenue 2022: $143,214Expenses 2022: $103,490Net Income 2022: $39,7242022Revenue 2023: $158,578Expenses 2023: $105,977Net Income 2023: $52,6012023Revenue 2024: $151,875Expenses 2024: $121,055Net Income 2024: $30,8202024

Highlighted filing

2020

Revenue$141,321
Expenses$95,588
Net Income$45,733
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 11, 2021
Return Version
2020v4.1
Gross Receipts
$141,321
Mission and Program Overview

Mission

To provide a meeting place for informal member gatherings and social events for members.

The Norfolk Boat Club is a social club operated for the benefit of its members

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$329,951$366,394▲ $36,443
Cap Stk Tr Prin Current Funds$230,661$310,917▲ $80,256
Savings and Temporary Cash Investments$105,642$112,414▲ $6,772
Rtn Earn Endowment Incm Other Fnds$80,059$45,733▼ $34,326
Cash and Non-Interest-Bearing Accounts$12,762$3,336▼ $9,426
Inventories for Sale or Use$282$139▼ $143
Accounts Receivable$-699$-533▲ $166
Total Assets$447,938$481,750▲ $33,812
Liabilities
Mortgage Notes Payable Secured by Investment Property$137,218$121,000▼ $16,218
Other Liabilities-$4,100-
Total Liabilities$137,218$125,100▼ $12,118
Net Assets / Fund Balance
Total Net Assets Fund Balance$310,720$356,650▲ $45,930
Total Liabilities and Net Assets / Fund Balance$447,938$481,750▲ $33,812

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$365,001$98,904$463,905
Equipment$1,393$3,892$5,285

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$105,642---$105,642
2019$54,425$50,000▲ $1,217-$105,642
2018$52,872$1,000▲ $553-$54,425
2017$52,554-▲ $318-$52,872
2016$52,513-▲ $41-$52,554
Compensation and Service Providers
Top Officer Pay92nd percentile

Board Members and Trustees

NameTitle
Ted YoakumParty Chairman
Evan HarrellCaptain
Jack KavanaughCommodore
Adam SaichMembership
Jack AnkersonPast Commodore
Bruce BesleyPaymaster
Bruce WilcoxSecretary
David PaddockVice Commodore
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$139,577
Investment Income
$1,584
Other Revenue
$160
Change in Net Assets
$45,733
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$95,588
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$798$61,000-$61,798
Depreciation Depletion-$14,614-$14,614
Interest-$6,602-$6,602
Fees for Services Accounting-$1,507-$1,507
Other Expenses$170--$170
Total Functional Expenses$11,864$83,723$0$95,588
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$4,100
Slip Deposits-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
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
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Nbc Inc
EIN
54-1461275
Phone
7572009680
Address
432 W FREEMASON STREET, NORFOLK, VA 23510

Signing Officer

Name
Jack Kavanaugh
Title
Past Commodore
Signed
2021-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John T Kavanaugh Commodore
Formed
1988
Legal Domicile
Va
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
H Herbert Stanley Jr CPA Pc
Address
PO BOX 268, GLOUCESTER, VA 23061
Preparer
H Herbert Stanley Jr
Phone
8046937571
Supplemental Narrative

Additional Explanations

Form 990, Part X, Line 4

“Prepaid dues for future dues payments.”

Form 990, Part X, Section PRIOR PERIOD ADJUSTMENTS, Line 8

“NBC, INC. IS ON A CASH BASIS ANDPREPAID DUES AND CREDITS OCCATIONALLY APPLY TO PRIOR PERIOD DUES, SLIP FEES, AND PARTYEXPENSES. EVERY EFFORT IS MADE TO APPLY THOSE OPEN CREDITS PRIOR TO THE END OF THE YEAR,HOWEVER, OCCASIONALLY, THEY ARE LEFT OPEN UNTIL THE CHARGES ARE PAID IN FULL AND EFFECT PRIORYEAR INCOME.For”

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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0105642
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0105642
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt054425
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt050000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0105642
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01217
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt052872
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt01000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt054425
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0553
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt052554
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt052872
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0318
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt052513
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt052554
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt041
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt01393
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03892
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05285
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0365001
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt098904
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0463905
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04100
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SLIP DEPOSITS
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RelatedOrgListSchRInd0false
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0366394
IRS990ScheduleD/TotalLiabilityAmt04100
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PREPAID DUES FOR FUTURE DUES PAYMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NBC, INC. IS ON A CASH BASIS ANDPREPAID DUES AND CREDITS OCCATIONALLY APPLY TO PRIOR PERIOD DUES, SLIP FEES, AND PARTYEXPENSES. EVERY EFFORT IS MADE TO APPLY THOSE OPEN CREDITS PRIOR TO THE END OF THE YEAR,HOWEVER, OCCASIONALLY, THEY ARE LEFT OPEN UNTIL THE CHARGES ARE PAID IN FULL AND EFFECT PRIORYEAR INCOME.For
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part X, Line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part X, Section PRIOR PERIOD ADJUSTMENTS, Line 8
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0YES
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0NORFOLK BOAT CLUB
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0546008780
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt071616
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0VA
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0BUILDING OWNER
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt061000
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0432 W FREEMASON STREET
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0NORFOLK
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0VA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd023510
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0VA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0447938
IRS990/TotalAssetsEOYAmt0481750
IRS990/TotalAssetsGrp/BOYAmt0447938
IRS990/TotalAssetsGrp/EOYAmt0481750
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt083723
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt011864
IRS990/TotalFunctionalExpensesGrp/TotalAmt095588
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0137218
IRS990/TotalLiabilitiesEOYAmt0125100
IRS990/TotalLiabilitiesGrp/BOYAmt0137218
IRS990/TotalLiabilitiesGrp/EOYAmt0125100
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0310720
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0356650
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt0100
IRS990/TotalProgramServiceExpensesAmt011864
IRS990/TotalProgramServiceRevenueAmt0139577
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0141321
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0447938
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0481750
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0312 COLLEGE PLACE
IRS990/USAddress/CityNm0NORFOLK
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023510
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.norfolkboatclub.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JACK KAVANAUGH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PAST COMMODORE
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NBC INC
ReturnHeader/Filer/BusinessNameControlTxt0NBCI
ReturnHeader/Filer/EIN0541461275
ReturnHeader/Filer/PhoneNum07572009680
ReturnHeader/Filer/USAddress/AddressLine1Txt0432 W FREEMASON STREET
ReturnHeader/Filer/USAddress/CityNm0NORFOLK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023510
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0H HERBERT STANLEY JR CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 268
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLOUCESTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd023061
ReturnHeader/PreparerPersonGrp/PhoneNum08046937571
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0H HERBERT STANLEY JR
ReturnHeader/ReturnTs02021-05-11T07:01:21-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JACK

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$481,750
Liabilities
$125,100
Net assets
$356,650
Revenue
$141,321
Expenses
$95,588
Net income
$45,733
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.61$0.38$5.22$1.52$1.21$0.31
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.53$0.61$4.91$1.59$1.06$0.53
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.22$0.83$4.38$1.43$1.03$0.40
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.16$1.18$3.99$1.44$1.01$0.42
2020Detailed filing. Detailed filing data is available for this year.$4.82$1.25$3.57$1.41$0.96$0.46
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.48$1.37$3.11$1.76$0.96$0.80
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.82$1.53$2.29$1.26$1.21$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.91$1.67$2.24$1.41$1.06$0.35
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.67$1.79$1.88$1.55$1.00$0.55
2015Detailed filing. Detailed filing data is available for this year.$1.34$0.00$1.34$0.88$0.83$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.29$0.00$1.29$0.96$0.89$0.07
2013Detailed filing. Detailed filing data is available for this year.$1.21$0.00$1.21$1.01$0.87$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$0.00$1.08$0.82
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$0.00$1.14$0.81