Overview
What is Marathon Yacht Club Inc?
Marathon Yacht Club Inc, located in Marathon, Florida, is a nonprofit organization with a focus on fostering a sense of community around yachting. The club generates revenue through membership activities, primarily from dues and assessments, which are used to enhance its capacity to promote safe and responsible yachting. The organization also earns interest on funds set aside at the beginning of each year to meet its operational needs. The club's social and community outreach is facilitated through revenue generated from dockage, food, and beverages provided to members and guests during club functions. The mission of Marathon Yacht Club Inc is to unite its members under a shared goal of promoting safe and enjoyable yachting experiences. The club currently employs 21 individuals.
Is Marathon Yacht Club Inc legitimate?
Marathon Yacht Club Inc is a legitimate nonprofit organization registered as a 501(c)(7) entity. Marathon 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: $330,855
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What is the mission statement of Marathon Yacht Club Inc?
Marathon Yacht Club Inc's mission is centered around bringing its members together through a shared objective. This objective primarily focuses on promoting safe and responsible pleasure and recreation experiences, which can be enjoyed through yachting activities. The club aims to strengthen its bond among members by fostering an environment that encourages such activities. The club generates revenue from membership activities, which in turn helps support safe and responsible yachting. Funds collected from membership activities, such as dues and assessments, are set aside and used when necessary to meet the club's functional needs. The club's social and community awareness is enhanced by earning revenue from dockage, food, beverage, and related services offered at its functions, which are attended by both members and guests.
What is the revenue of Marathon Yacht Club Inc?
Marathon Yacht Club Inc's revenue in 2024 was $779,345.
Who are the executives of Marathon Yacht Club Inc and what are their salaries?
The average compensation at Marathon Yacht Club Inc during 2024 was $15,755. There are 21 employees at Marathon Yacht Club Inc.
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Where can I find the form 990 for Marathon Yacht Club Inc?
Marathon Yacht Club Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Marathon Yacht Club Inc
Marathon Yacht Club Inc, a nonprofit organization, is dedicated to bringing its members together through a shared goal. This objective is centered around promoting safe and responsible pleasure and recreation, which can be enjoyed through the experience of yachting. The club strives to foster a sense of unity among its members, ensuring that their activities are conducted in a safe and responsible manner.
To achieve this mission, Marathon Yacht Club Inc collects revenues from various sources. These include membership activities, which help raise awareness about yachting in the community. The dues and assessments collected by the club serve to strengthen its ability to support safe and responsible yachting. Furthermore, the club generates revenue by providing dockage, food, beverages, and related services at its functions. These funds are crucial in enabling the club to fulfill its exempt purpose, as outlined in its mission statement. By doing so, Marathon Yacht Club Inc not only provides a platform for its members to enjoy yachting but also contributes to fostering a wider appreciation for the activity within the community.
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Impact
October, 2024
Marathon Yacht Club Inc significantly contributes to the community by fostering a culture of safe and responsible yachting. Through various activities, the club unites members with a common objective centered on promoting safe recreational practices. By organizing events that raise community awareness about yachting, the club enhances the experience of pleasure boating for both its members and the wider community.
The revenue generated from membership activities not only supports the operational needs of the club but also allows for the financing of programs and initiatives that prioritize safety on the water. The funds collected at the start of each year are strategically set aside, ensuring that the club maintains a sustainable financial foundation to meet its functional needs.
By providing dockage and facilitating food and beverage services at club functions, Marathon Yacht Club Inc encourages social interaction among its members and guests. This not only enriches the club's social atmosphere but also strengthens community ties, making boating more accessible and enjoyable for everyone involved. Overall, the club's mission and activities play a vital role in promoting a safe and vibrant yachting community in Marathon, Florida.
This information is meant to be a general summary of Marathon 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: $11,757
- Program Service Revenue: $174,214
- Gross Receipts: $929,652
Assets and Liabilities:
- Total Assets: $1,268,661
- Total Liabilities: $426,747
- Net Assets: $841,914
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Dockage Revenue
Revenue
$173,588
Ships Store Cost of Sales
Revenue
-$6,841
Ships Store Sales
Revenue
$7,467
Organization Details
Founding Year
1981
Principal Officer
Loyal Eldridge
NTEE Category
Code: N50 - Recreation
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