Solomons Island Yacht Club Inc

Solomons, MD
Tax-exempt since Sept. 1991
EIN: 52-0577592

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Type of Nonprofit

Designated as a 501(c)(7) Social and recreational clubs.

Donations to this organization are not tax deductible.

Details

According to its Dec. 2023 tax filing, this nonprofit:

Reported conflict of interest transactions

Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Revenue

$428k (2023)

Expenses

$384k (2023)

Total Assets

$1.9M (2023)

Total Liabilities

$553k (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Revenue

$427,752

Expenses

$384,487

Net Income

$43,265

Net Assets

$1,343,091

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$266,309	62.3%
Program Services	$60,710	14.2%
Investment Income	$2,087	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$8,353
Sales of Assets	$0
Net Inventory Sales	$52,262	12.2%
Other Revenue	$54,737	12.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$141,788	36.9%

Assets/Debt
Total Assets	$1,896,016
Total Liabilities	$552,925
Net Assets	$1,343,091

Club or Co-Op Income
Initiation Fees & Contributions	$16,020
Income From Public Use of Club Facilities	$54,737

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Greg Wanamaker (Commodore)	$0	$0	$0
Barbara Raley (Vice Commodore)	$0	$0	$0
Diane Townsend (Secretary)	$0	$0	$0
Michael Snapp (Treasurer)	$0	$0	$0

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990

Filed on May 18, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2022

Revenue

$342,445

Expenses

$344,760

Net Income

-$2,315

Net Assets

$1,299,697

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$207,287	60.5%
Program Services	$50,264	14.7%
Investment Income	$353	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$6,449
Sales of Assets	$0
Net Inventory Sales	$49,378	14.4%
Other Revenue	$41,612	12.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$116,967	33.9%

Assets/Debt
Total Assets	$1,901,475
Total Liabilities	$601,778
Net Assets	$1,299,697

Club or Co-Op Income
Initiation Fees & Contributions	$9,515
Income From Public Use of Club Facilities	$41,612

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Michael Stanton (Commodore)	$0	$0	$0
Patricia Healy Catchings (Vice Commodore)	$0	$0	$0
Diane Townsend (Secretary)	$0	$0	$0
Timothy Wakeman (Treasurer)	$0	$0	$0

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990

Filed on May 4, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2021

Revenue

$381,049

Expenses

$302,062

Net Income

$78,987

Net Assets

$1,301,728

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$268,633	70.5%
Program Services	$33,344	8.8%
Investment Income	$195	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$3,798
Sales of Assets	$0
Net Inventory Sales	$40,055	10.5%
Other Revenue	$42,620	11.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$98,564	32.6%

Assets/Debt
Total Assets	$1,923,258
Total Liabilities	$621,530
Net Assets	$1,301,728

Club or Co-Op Income
Initiation Fees & Contributions	$18,625
Income From Public Use of Club Facilities	$42,619

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Michael Stanton (Commodore)	$0	$0	$0
Patricia Healy Catchings (Vice Commodore)	$0	$0	$0
Diane Townsend (Secretary)	$0	$0	$0
Timothy Wakeman (Treasurer)	$0	$0	$0

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990

Filed on May 30, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2020

Revenue

$260,935

Expenses

$226,548

Net Income

$34,387

Net Assets

$1,222,832

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$200,938	77.0%
Program Services	$22,857	8.8%
Investment Income	$291	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$1,790	0.7%
Sales of Assets	$0
Net Inventory Sales	$17,142	6.6%
Other Revenue	$17,917	6.9%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$49,278	21.8%

Assets/Debt
Total Assets	$1,859,532
Total Liabilities	$636,700
Net Assets	$1,222,832

Club or Co-Op Income
Initiation Fees & Contributions	$8,590
Income From Public Use of Club Facilities	$17,917

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Michael Stanton (Commodore)	$0	$0	$0
Brenda Knight (Vice Commodore)	$0	$0	$0
Diane Townsend (Secretary)	$0	$0	$0
Timothy Wakeman (Treasurer)	$0	$0	$0

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990

Filed on May 24, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2019

Revenue

$295,773

Expenses

$303,231

Net Income

-$7,458

Net Assets

$1,188,447

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$201,762	68.2%
Program Services	$36,391	12.3%
Investment Income	$1,043	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$1,572
Sales of Assets	$0
Net Inventory Sales	$25,037	8.5%
Other Revenue	$33,112	11.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$103,331	34.1%

Assets/Debt
Total Assets	$1,867,675
Total Liabilities	$679,228
Net Assets	$1,188,447

Club or Co-Op Income
Initiation Fees & Contributions	$20,410
Income From Public Use of Club Facilities	$33,112

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2018

Revenue

$317,859

Expenses

$277,411

Net Income

$40,448

Net Assets

$1,197,858

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$203,867	64.1%
Program Services	$20,159	6.3%
Investment Income	$781	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$3,781	1.2%
Sales of Assets	$0
Net Inventory Sales	$35,806	11.3%
Other Revenue	$53,465	16.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$96,366	34.7%

Assets/Debt
Total Assets	$1,885,622
Total Liabilities	$687,764
Net Assets	$1,197,858

Club or Co-Op Income
Initiation Fees & Contributions	$26,465
Income From Public Use of Club Facilities	$53,465

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2017

Revenue

$297,204

Expenses

$263,496

Net Income

$33,708

Net Assets

$1,157,386

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$200,058	67.3%
Program Services	$25,149	8.5%
Investment Income	$602	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$5,214	1.8%
Sales of Assets	$0
Net Inventory Sales	$33,232	11.2%
Other Revenue	$32,949	11.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$88,999	33.8%

Assets/Debt
Total Assets	$1,866,844
Total Liabilities	$709,458
Net Assets	$1,157,386

Club or Co-Op Income
Initiation Fees & Contributions	$0
Income From Public Use of Club Facilities	$0

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2016

Revenue

$296,659

Expenses

$298,977

Net Income

-$2,318

Net Assets

$1,123,137

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$175,853	59.3%
Program Services	$17,108	5.8%
Investment Income	$503	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$5,779	1.9%
Sales of Assets	-$1,817
Net Inventory Sales	$53,629	18.1%
Other Revenue	$45,604	15.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$92,182	30.8%

Assets/Debt
Total Assets	$1,861,530
Total Liabilities	$738,393
Net Assets	$1,123,137

Club or Co-Op Income
Initiation Fees & Contributions	$22,500
Income From Public Use of Club Facilities	$45,604

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2015

Revenue

$271,303

Expenses

$269,446

Net Income

$1,857

Net Assets

$1,125,370

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$162,512	59.9%
Program Services	$22,848	8.4%
Investment Income	$465	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$2,613
Sales of Assets	$0
Net Inventory Sales	$53,649	19.8%
Other Revenue	$34,442	12.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$89,830	33.3%

Assets/Debt
Total Assets	$1,862,170
Total Liabilities	$736,800
Net Assets	$1,125,370

Club or Co-Op Income
Initiation Fees & Contributions	$10,500
Income From Public Use of Club Facilities	$34,442

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2014

Revenue

$316,907

Expenses

$284,827

Net Income

$32,080

Net Assets

$1,123,550

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$167,443	52.8%
Program Services	$53,339	16.8%
Investment Income	$843	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$4,099
Sales of Assets	$0
Net Inventory Sales	$65,946	20.8%
Other Revenue	$33,435	10.6%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$94,716	33.3%

Assets/Debt
Total Assets	$1,876,267
Total Liabilities	$752,717
Net Assets	$1,123,550

Club or Co-Op Income
Initiation Fees & Contributions	$16,250
Income From Public Use of Club Facilities	$33,435

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2013

Revenue

$290,918

Expenses

$275,923

Net Income

$14,995

Net Assets

$1,095,482

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$174,855	60.1%
Program Services	$38,665	13.3%
Investment Income	$1,065	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$2,869
Sales of Assets	$0
Net Inventory Sales	$55,542	19.1%
Other Revenue	$23,660	8.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$83,906	30.4%

Assets/Debt
Total Assets	$1,964,944
Total Liabilities	$869,462
Net Assets	$1,095,482

Club or Co-Op Income
Initiation Fees & Contributions	$23,000
Income From Public Use of Club Facilities	$23,660

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2012

Revenue

$298,764

Expenses

$284,859

Net Income

$13,905

Net Assets

$1,076,334

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$166,739	55.8%
Program Services	$55,525	18.6%
Investment Income	$1,779	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$1,973
Sales of Assets	$0
Net Inventory Sales	$64,749	21.7%
Other Revenue	$11,945	4.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$83,415	29.3%

Assets/Debt
Total Assets	$2,005,434
Total Liabilities	$929,100
Net Assets	$1,076,334

Club or Co-Op Income
Initiation Fees & Contributions	$14,750
Income From Public Use of Club Facilities	$11,945

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$327,145

Expenses

$287,575

Net Income

$39,570

Net Assets

$1,063,052

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$176,524	54.0%
Program Services	$63,974	19.6%
Investment Income	$2,976	0.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$818	0.3%
Sales of Assets	$0
Net Inventory Sales	$73,054	22.3%
Other Revenue	$9,799	3.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$77,569	27.0%

Assets/Debt
Total Assets	$2,025,652
Total Liabilities	$962,600
Net Assets	$1,063,052

Club or Co-Op Income
Initiation Fees & Contributions	$23,000
Income From Public Use of Club Facilities	$9,799

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2010

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2009

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990-EZ

Short form tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2008

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990-EZ

Short form tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2007

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2005

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2004

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

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Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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Raw filing data. Includes EINs and summary financials as structured data.
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Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
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Updated December 20, 2024

Solomons Island Yacht Club Inc

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $428k (2023)

Expenses $384k (2023)

Total Assets $1.9M (2023)

Total Liabilities $553k (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2011

Extracted Financial Data

Revenue

$428k (2023)

Expenses

$384k (2023)

Total Assets

$1.9M (2023)

Total Liabilities

$553k (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004