Civic Intelligence

Bald Head Island Yacht Club

990 • Fiscal year 2013 • EIN 56-2229687

Jan 01, 2013 to Dec 31, 2013 • Filed on Aug 15, 2014

Organization Profile
PO Box 302928461

(910) 457-7380

Siviq Scores

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

Liabilities / Assets

80th percentile

0.40x

Higher debt load relative to assets than 80% of similar nonprofits.

2013 filings • NTEE N • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

96th percentile

2.55x

Higher debt load relative to revenue than 96% of similar nonprofits.

2013 filings • NTEE N • $1M-$5M nonprofits • Source year 2013

Net Margin

5th percentile

-42%

Higher net margin than 5% of similar nonprofits.

2013 filings • NTEE N • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

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

2013 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2013

Asset Growth

43rd percentile

1.3%

Faster asset growth than 43% of similar nonprofits.

2013 filings • NTEE N • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$2,352,090

Up $29,592 (+1.3%) from 2012

Net Assets

Down

$1,403,251

Down $157,236 (-10%) from 2012

Liabilities

Up

$948,839

Up $186,828 (+25%) from 2012

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin5th percentile

Revenue

$372,229

No earlier filing loaded for comparison.

Expenses

Up

$529,465

Up $200,977 (+61%) from 2012

Net Income

-$157,236

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $1,948,571Liabilities 2010: $569,651Net Assets 2010: $1,378,9202010Assets 2011: $2,278,526Liabilities 2011: $773,419Net Assets 2011: $1,505,1072011Assets 2012: $2,322,498Liabilities 2012: $762,011Net Assets 2012: $1,560,4872012Assets 2013: $2,352,090Liabilities 2013: $948,839Net Assets 2013: $1,403,2512013Assets 2014: $2,431,700Liabilities 2014: $1,112,446Net Assets 2014: $1,319,2542014Assets 2015: $1,957,845Liabilities 2015: $950,212Net Assets 2015: $1,007,6332015Assets 2016: $1,816,517Liabilities 2016: $555,800Net Assets 2016: $1,260,7172016Assets 2017: $1,716,064Liabilities 2017: $271,716Net Assets 2017: $1,444,3482017Assets 2018: $1,931,941Liabilities 2018: $288,384Net Assets 2018: $1,643,5572018Assets 2019: $2,046,054Liabilities 2019: $279,852Net Assets 2019: $1,766,2022019Assets 2020: $2,220,287Liabilities 2020: $276,475Net Assets 2020: $1,943,8122020Assets 2021: $2,440,689Liabilities 2021: $351,835Net Assets 2021: $2,088,8542021Assets 2022: $2,559,172Liabilities 2022: $363,213Net Assets 2022: $2,195,9592022Assets 2023: $2,611,441Liabilities 2023: $282,687Net Assets 2023: $2,328,7542023

Highlighted filing

2013

Assets$2,352,090
Liabilities$948,839
Net Assets$1,403,251
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KExpenses 2010: $267,4452010Expenses 2011: $284,1862011Expenses 2012: $328,4882012Revenue 2013: $372,229Expenses 2013: $529,465Net Income 2013: -$157,2362013Revenue 2014: $411,013Expenses 2014: $495,010Net Income 2014: -$83,9972014Revenue 2015: $440,832Expenses 2015: $752,453Net Income 2015: -$311,6212015Revenue 2016: $508,291Expenses 2016: $255,207Net Income 2016: $253,0842016Revenue 2017: $480,507Expenses 2017: $296,700Net Income 2017: $183,8072017Revenue 2018: $488,242Expenses 2018: $289,033Net Income 2018: $199,2092018Revenue 2019: $485,962Expenses 2019: $363,317Net Income 2019: $122,6452019Revenue 2020: $497,284Expenses 2020: $319,674Net Income 2020: $177,6102020Revenue 2021: $498,600Expenses 2021: $356,208Net Income 2021: $142,3922021Revenue 2022: $544,474Expenses 2022: $437,369Net Income 2022: $107,1052022Revenue 2023: $574,055Expenses 2023: $441,261Net Income 2023: $132,7942023

Highlighted filing

2013

Revenue$372,229
Expenses$529,465
Net Income-$157,236
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Aug 15, 2014
Return Version
2013v3.1
Gross Receipts
$406,002
Mission and Program Overview

Mission

Social and recreational - to encourage the sport of boating, to promote the science of seamanship and navigation, and to provide and maintain a suitable ancorage for the pleasure and recreation of its Members and their guests.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,302,102$1,212,681▼ $89,421
Pd in Cap Srpls Land Bldg Eqp Fund$1,175,654$1,161,420▼ $14,234
Rtn Earn Endowment Incm Other Fnds$384,833$241,831▼ $143,002
Cash and Non-Interest-Bearing Accounts$48,367$17,693▼ $30,674
Accounts Receivable$2,229$1,916▼ $313
Total Assets$2,322,498$2,352,090▲ $29,592
Other Assets Total$969,800$1,119,800▲ $150,000
Liabilities
Other Liabilities$681,247$823,747▲ $142,500
Accounts Payable and Accrued Expenses$15,582$83,569▲ $67,987
Deferred Revenue$65,182$41,523▼ $23,659
Total Liabilities$762,011$948,839▲ $186,828
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,560,487$1,403,251▼ $157,236
Total Liabilities and Net Assets / Fund Balance$2,322,498$2,352,090▲ $29,592

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,119,800--
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
Alan H NortonDirector
Steve T HensonDirector
Robert H HelgesenCommodore
Joyce C FultonSectreasurer
Jay WalkerVice Commodore
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$378,048
Investment Income
$2,399
Other Revenue
$-8,218
Change in Net Assets
$-157,236
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$529,465
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
Other Expenses$476,479--$476,479
Fees for Services Management---$26,556
Insurance---$11,199
Fees for Services Legal---$10,924
Conferences and Meetings---$4,065
Advertising---$166
Office Expenses---$76
Total Functional Expenses$0$0$0$529,465
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Resigned Memberships Payable$823,747
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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
Yes

Governance Explanations

Management duties delegation Part VI line 3

“Management of day to day operations of the organization are performed under a management agreement with Bald Head Island, Ltd.”

Members or stockholder classes and rights Part VI line 6

“Bald Head Island Yacht Club is a nonprofit corporation with members.”

Member election for additional members Part VI line 7A

“There are 147 members who elect one or more members of the governing body.”

Governing body decisions Part VI line 7B

“The members approve assessments not related to regular maintenance, and changes to Bylaws.”

Form 990 governing body review Part VI line 11

“Form 990 is reviewed by the manager of the Bald Head Island Marina, and by Joyce C. Fulton, Secretary/Treasurer of the Bald Head Island Yacht Club.”

Governing documents etc available to public Part VI line 19

“Governing documents and financials are provided to applicants for membership, and mailed or given to members at least annually. Financials are reviewed by the Board at least three times annually.”

Filing and Contact Details

Filer

EIN
56-2229687

Signing Officer

Name
Joyce C Fulton
Title
SecTreasurer
Phone
9104577380
Signed
2014-08-15
Discuss with paid preparer
Yes

Organization Details

Formed
2001
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Preparer
Ann Diggs Herman
Phone
9107728057
Supplemental Narrative

Additional Explanations

Unrelated business income explanation Part V line 3B

“A request for an automatic 6 month extension to file Form 990-T was filed May 15, 2014.”

Raw XML Appendix288 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A request for an automatic 6 month extension to file Form 990-T was filed May 15, 2014.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Management of day to day operations of the organization are performed under a management agreement with Bald Head Island, Ltd.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Bald Head Island Yacht Club is a nonprofit corporation with members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3There are 147 members who elect one or more members of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The members approve assessments not related to regular maintenance, and changes to Bylaws.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Form 990 is reviewed by the manager of the Bald Head Island Marina, and by Joyce C. Fulton, Secretary/Treasurer of the Bald Head Island Yacht Club.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Governing documents and financials are provided to applicants for membership, and mailed or given to members at least annually. Financials are reviewed by the Board at least three times annually.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Unrelated business income explanation Part V line 3b
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing body decisions Part VI line 7b
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Governing documents etc available to public Part VI line 19
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ReturnHeader/BuildTS02015-11-30 17:44:51Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Joyce C Fulton
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ReturnHeader/Filer/BusinessNameControlTxt0BALD
ReturnHeader/Filer/EIN0562229687
ReturnHeader/Filer/USAddress/AddressLine10PO BOX 3029
ReturnHeader/Filer/USAddress/City0BALD HEAD ISLAND
ReturnHeader/Filer/USAddress/State0NC
ReturnHeader/Filer/USAddress/ZIPCode028461
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10Ann Diggs CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10321 S 3rd St
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Wilmington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode028401
ReturnHeader/PreparerPersonGrp/PhoneNum09107728057
ReturnHeader/PreparerPersonGrp/PreparationDt02014-08-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Ann Diggs Herman
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02014-08-15T17:42:08-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,352,090
Liabilities
$948,839
Net assets
$1,403,251
Revenue
$372,229
Expenses
$529,465
Net income
-$157,236
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$2.61$0.28$2.33$0.57$0.44$0.13
2022Detailed filing. Detailed filing data is available for this year.$2.56$0.36$2.20$0.54$0.44$0.11
2021Detailed filing. Detailed filing data is available for this year.$2.44$0.35$2.09$0.50$0.36$0.14
2020Detailed filing. Detailed filing data is available for this year.$2.22$0.28$1.94$0.50$0.32$0.18
2019Detailed filing. Detailed filing data is available for this year.$2.05$0.28$1.77$0.49$0.36$0.12
2018Detailed filing. Detailed filing data is available for this year.$1.93$0.29$1.64$0.49$0.29$0.20
2017Summary only. Only limited summary data is available for this year.$1.72$0.27$1.44$0.48$0.30$0.18
2016Detailed filing. Detailed filing data is available for this year.$1.82$0.56$1.26$0.51$0.26$0.25
2015Detailed filing. Detailed filing data is available for this year.$1.96$0.95$1.01$0.44$0.75$0.31
2014Detailed filing. Detailed filing data is available for this year.$2.43$1.11$1.32$0.41$0.50$0.08
2013Detailed filing. Detailed filing data is available for this year.$2.35$0.95$1.40$0.37$0.53$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.32$0.76$1.56$0.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.28$0.77$1.51$0.28
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.95$0.57$1.38$0.27