Civic Intelligence

Bald Head Island Yacht Club

EIN 56-2229687 • 501(c)7 • Bald Head Island, NC

Profile

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

PO Box 3029Bald Head Island, NC 28461
Siviq Scores

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

Liabilities / Assets

60th percentile

0.11x

Higher debt load relative to assets than 60% of similar nonprofits.

NTEE N • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

81st percentile

0.49x

Higher debt load relative to revenue than 81% of similar nonprofits.

NTEE N • $1M-$5M nonprofits • Source year 2023

Net Margin

75th percentile

23%

Higher net margin than 75% of similar nonprofits.

NTEE N • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

61st percentile

$0

Higher top officer pay than 61% of similar nonprofits.

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

NTEE N • $1M-$5M nonprofits • Source year 2023

Asset Growth

44th percentile

2.0%

Faster asset growth than 44% of similar nonprofits.

NTEE N • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

45th percentile

5.4%

Faster revenue growth than 45% of similar nonprofits.

NTEE N • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$2,611,441

Up $52,269 (+2.0%) from 2022

Liabilities

Down

$282,687

Down $80,526 (-22%) from 2022

Net Assets

Up

$2,328,754

Up $132,795 (+6.0%) from 2022

Revenue

Up

$574,055

Up $29,581 (+5.4%) from 2022

Expenses

Up

$441,261

Up $3,892 (+0.9%) from 2022

Net Income

Up

$132,794

Up $25,689 (+24%) from 2022

Trend Graphs

Balance Sheet Trend

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

$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

2023

Assets$2,611,441
Liabilities$282,687
Net Assets$2,328,754

Operations Trend

Revenue, expenses, and net income by year, with the latest 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

2023

Revenue$574,055
Expenses$441,261
Net Income$132,794

Filings

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
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 20, 2024
Return Version
2023v5.0
Gross Receipts
$597,621
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.

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$2,195,959$2,328,754▲ $132,795
Savings and Temporary Cash Investments$1,234,770$1,366,879▲ $132,109
Land, Buildings, and Equipment, Net$1,000,941$954,483▼ $46,458
Cash and Non-Interest-Bearing Accounts$67,322$36,551▼ $30,771
Prepaid Expenses and Deferred Charges$2,622--
Intangible Assets-$2,328-
Accounts Receivable$2,317--
Total Assets$2,559,172$2,611,441▲ $52,269
Other Assets Total$251,200$251,200→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$227,411$205,586▼ $21,825
Accounts Payable and Accrued Expenses$23,771$65,629▲ $41,858
Deferred Revenue$112,031$8,818▼ $103,213
Other Liabilities-$2,654-
Total Liabilities$363,213$282,687▼ $80,526
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,195,959$2,328,754▲ $132,795
Total Liabilities and Net Assets / Fund Balance$2,559,172$2,611,441▲ $52,269

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$553,341$185,401$738,742
Buildings$350,424$59,384$409,808
Land$40,295-$40,295
Other Assets Org$251,200--
Compensation and Service Providers

Board Members and Trustees

NameTitle
George Lynn Derrick JrDirector
John F MunroeDirector
Vance S JohnsonDirector
T Steve HensonCommodore
Kristin M HensonSecretary/tr
Alan H NortonVice Commodo
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$569,492
Investment Income
$444
Other Revenue
$4,119
Change in Net Assets
$132,794
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$441,261
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
Depreciation Depletion$60,385--$60,385
Insurance$28,650--$28,650
Fees for Services Management$26,661--$26,661
All Other Expenses$23,272--$23,272
Other Expenses$22,485--$22,485
Interest$7,873--$7,873
Office Expenses$2,556--$2,556
Total Functional Expenses$441,261$0$0$441,261
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Owned ByofficerConstruction of ImprNo$13,186
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prepaid Accounts$2,654
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
Yes
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 2

T. Steve henson kristin c henson commodore sec/treas spouse

Form 990, Page 6, Part VI, Line 3

Management of day to ay operations of the organization are performed under a management agreement with bald head island, ltd.

Form 990, Page 6, Part VI, Line 6

Bald head island yacht club is a nonprofit corporation with members.

Form 990, Page 6, Part VI, Line 7A

The yacht club's members select one or more members of the governing body.

Form 990, Page 6, Part VI, Line 7B

The members approve assessments not related to regular maintenance, and changes to bylaws.

Form 990, Page 6, Part VI, Line 11B

Form 990 is reviewed by the manager of the bald head island marina, and by the officer signing the return.

Form 990, Page 6, Part VI, Line 12C

The bald head island yacht club board of directors continues to review bids from officers and/or other related parties for construction work when submitted in compliance with the club's formal conflict of interest policy.

Form 990, Page 6, 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

Filer Name
Bald Head Island Yacht Club
EIN
56-2229687
Phone
9104577380
Address
PO BOX 3029, BALD HEAD ISLAND, NC 28461

Signing Officer

Name
T Steve Henson
Title
Commodore
Phone
9103929800
Signed
2024-05-20

Organization Details

Principal Officer
T Steve Henson
Formed
2001
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Mpw & Co Cpas Pllc
Address
112 N CARDINAL EXTENSION DR STE 105, WILMINGTON, NC 28405
Preparer
Mark S Paradis
Phone
9107931181
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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 anchorage for the pleasure and recreation of its members and their guests.

Form 990, Part XI, Line 9

Book / tax depreciation difference 1

Raw XML Appendix335 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/TitleTxt5VICE COMMODO
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0MEMBERSHIP INVENTORY
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0HENSON BUILDING CORPORATION
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0OWNED BYOFFICER
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt013186
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0CONSTRUCTION OF IMPR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SOCIAL AND RECREATIONAL - TO ENCOURAGE THE SPORT OF BOATING, TO PROMOTE THE SCIENCE OF SEAMANSHIP AND NAVIGATION, AND TO PROVIDE AND MAINTAIN A SUITABLE ANCHORAGE FOR THE PLEASURE AND RECREATION OF ITS MEMBERS AND THEIR GUESTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1T. STEVE HENSON KRISTIN C HENSON COMMODORE SEC/TREAS SPOUSE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MANAGEMENT OF DAY TO AY OPERATIONS OF THE ORGANIZATION ARE PERFORMED UNDER A MANAGEMENT AGREEMENT WITH BALD HEAD ISLAND, LTD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BALD HEAD ISLAND YACHT CLUB IS A NONPROFIT CORPORATION WITH MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE YACHT CLUB'S MEMBERS SELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE MEMBERS APPROVE ASSESSMENTS NOT RELATED TO REGULAR MAINTENANCE, AND CHANGES TO BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FORM 990 IS REVIEWED BY THE MANAGER OF THE BALD HEAD ISLAND MARINA, AND BY THE OFFICER SIGNING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE BALD HEAD ISLAND YACHT CLUB BOARD OF DIRECTORS CONTINUES TO REVIEW BIDS FROM OFFICERS AND/OR OTHER RELATED PARTIES FOR CONSTRUCTION WORK WHEN SUBMITTED IN COMPLIANCE WITH THE CLUB'S FORMAL CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8GOVERNING 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/ExplanationTxt9BOOK / TAX DEPRECIATION DIFFERENCE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0T STEVE HENSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0COMMODORE
ReturnHeader/BusinessOfficerGrp/PhoneNum09103929800
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BALD HEAD ISLAND YACHT CLUB
ReturnHeader/Filer/BusinessNameControlTxt0BALD
ReturnHeader/Filer/EIN0562229687
ReturnHeader/Filer/PhoneNum09104577380
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 3029
ReturnHeader/Filer/USAddress/CityNm0BALD HEAD ISLAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0562278760
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MPW & CO CPAS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0112 N CARDINAL EXTENSION DR STE 105
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WILMINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028405
ReturnHeader/PreparerPersonGrp/PhoneNum09107931181
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARK S PARADIS
ReturnHeader/ReturnTs02024-06-17T18:02:38-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0THOMAS STEVE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HENSON
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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