Seattle Yacht Club

“Seattle yacht club has a variety of membership levels. Certain membership levels are entitled to vote for the board of directors.”

“Board is elected by vote of the membership. Purchases in excess of $500,000 must have member approval.”

“The bylaws authorizes the board of trustees to set initiation fees, dues, and minimum food charges for each class of membership, subject to maximum limits of $250 per month for dues and $25 per month for food charges (with no food charge for members under 30). The board may also impose assessments up to $10 per month; however, any assessment exceeding $2 per month must be approved by a two-thirds majority of voting members at an annual or special meeting or by written referendum. The board determines the duration of any assessment unless otherwise specified by the members. The bylaws also provides that the board of trustees has the authority to borrow money and encumber the club's assets, including through mortgages or pledges. However, any borrowing or encumbrance exceeding $500,000 in aggregate must be approved by a majority vote of the members at an annual or special meeting.”

“A draft of form 990 is reviewed by the treasurer and controller and will be submitted to all members of the governing body after filing with the irs.”

“All contracts and agreements are reviewed by the board.”

“Governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“Leases 388,150. Outstations - domestic 305,439. Other expenses 230,220. Supplies expenses 134,216. Janitorial expense 93,491. Property taxes 64,078. Banquets expenses 62,247. Publication expenses 60,033. Chemical expense 43,490. Excise tax expense 43,137. Galley expenses 28,682. Club boat expenses 21,891. Other payroll expenses 20,226. G&a expenses 20,194. Linens 13,407. Main station expenses 12,171. Junior regattas expenses 11,711. Facilities expenses 11,233. Marine expenses 11,045. Uniforms 10,358. Committee expenses 9,331. Bad debt expense -70,257.”