Overview
What is Vermilion Yacht Club Inc?
Vermilion Yacht Club Inc, situated in Vermilion, Ohio, serves as a social or country club, falling under the category of Section 501(c)(7) organizations. The club's primary purpose is to promote a yacht club atmosphere, fostering a sense of camaraderie and leisure among its members. While specific program details are not provided, it is evident that the club exists to cater to the recreational and social needs of its members within the yachting community.
Is Vermilion Yacht Club Inc legitimate?
Vermilion Yacht Club Inc is a legitimate nonprofit organization registered as a 501(c)(7) entity. Vermilion Yacht Club Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $9,376
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What is the mission statement of Vermilion Yacht Club Inc?
The Vermilion Yacht Club Inc., serving as a social or country club, is dedicated to fostering a mission in accordance with Section 501(c)(7) of the Internal Revenue Code. In simpler terms, the club's purpose is centered around facilitating social activities and camaraderie among its members. However, the provided information does not specify any further details regarding the activities or objectives the club aims to achieve within this scope.
What is the revenue of Vermilion Yacht Club Inc?
Vermilion Yacht Club Inc's revenue in 2024 was $196,737.
Who are the executives of Vermilion Yacht Club Inc and what are their salaries?
The average compensation at Vermilion Yacht Club Inc during 2024 was $9,376. There is 1 employee at Vermilion Yacht Club Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Vermilion Yacht Club Inc?
Vermilion Yacht Club Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Vermilion Yacht Club Inc
Vermilion Yacht Club Inc, as a 501(C)(7) organization, serves as a social or country club. Its mission, according to the provided information, is aligned with this classification. In simpler terms, the club's purpose is to foster a sense of camaraderie and social interaction among its members, promoting yachting activities and related leisure pursuits. The club's mission, thus, is to provide a platform for its members to engage in yachting-related activities and social events, in line with the regulations set by Section 501(C)(7) of the Internal Revenue Code.
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Impact
October, 2024
Vermilion Yacht Club Inc plays a significant role in enhancing community recreation and fostering social connections among its members. Located in Vermilion, Ohio, the club creates a welcoming environment for boating enthusiasts and their families, promoting maritime activities that enrich the local culture. It serves as a hub where members can engage in various social events, cultivate friendships, and develop a sense of camaraderie.
The club’s activities encourage an appreciation for the waterfront and bolster local tourism, contributing to the economy of Vermilion. By providing access to recreational boating and social gatherings, Vermilion Yacht Club Inc supports a vibrant lifestyle and encourages residents and visitors alike to enjoy the natural beauty of the area. Its commitment to recreation not only strengthens community bonds but also fosters a passion for the maritime lifestyle within the region.
This information is meant to be a general summary of Vermilion Yacht Club Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $61
- Program Service Revenue: $73,306
- Gross Receipts: $360,299
Assets and Liabilities:
- Total Assets: $1,156,951
- Total Liabilities: $610,983
- Net Assets: $545,968
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES & ASSESSMENTS
Revenue
$54,860
INITIATION FEES
Revenue
$18,400
MISC OTHER INCOME
Revenue
$46
Organization Details
Principal Officer
Thomas Mcdonald
NTEE Category
Code: N50 - Recreation
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