Somerset Boat Club Inc

Somerset, KY
EIN: 61-1107573

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Type of Nonprofit

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

Revenue

$270k (2025)

Expenses

$236k (2025)

Total Assets

$296k (2025)

Total Liabilities

$53.8k (2025)

Source: Form 990 tax filings from 2012 to 2025

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 June
2025

Revenue

$269,679

Expenses

$235,521

Net Income

$34,158

Net Assets

$242,014

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$258,557	95.9%
Program Services	$0
Investment Income	$22	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$11,100	4.1%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$66,209	28.1%

Assets/Debt
Total Assets	$295,829
Total Liabilities	$53,815
Net Assets	$242,014

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

Compensation

Key Employees and Officers	Compensation	Related	Other
Ralph L Farmer Jr (Commodore)	$0	$0	$0
Carter Ross Iii (Vice Commodore)	$0	$0	$0
Terri Hundley (Secretary)	$0	$0	$0
Eddie Deaton (Treasurer)	$0	$0	$0
Pat Boryca (Rear Commodore)	$0	$0	$0
Jack New (Entertainment Directoor)	$0	$0	$0

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990

Filed on Sept. 29, 2025

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

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Schedules ▼

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Fiscal Year Ending June
2024

Revenue

$240,988

Expenses

$269,651

Net Income

-$28,663

Net Assets

$207,856

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$232,272	96.4%
Program Services	$0
Investment Income	$16	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$4,200	1.7%
Net Fundraising	$0
Sales of Assets	$4,500	1.9%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$60,793	22.5%

Assets/Debt
Total Assets	$246,132
Total Liabilities	$38,276
Net Assets	$207,856

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

Compensation

Key Employees and Officers	Compensation	Related	Other
Terri Hundley (Secretary)	$0	$0	$0
Eddie Deaton (Treasurer)	$0	$0	$0
Ralph L Farmer Jr (Commodore)	$0	$0	$0
Carter Ross Iii (Vice Commodore)	$0	$0	$0

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990

Filed on July 31, 2024

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

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Schedules ▼

XML

Fiscal Year Ending June
2023

Revenue

$215,986

Expenses

$191,586

Net Income

$24,400

Net Assets

$236,519

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$215,970	100.0%
Program Services	$0
Investment Income	$16	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$40,441	21.1%

Assets/Debt
Total Assets	$258,713
Total Liabilities	$22,194
Net Assets	$236,519

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

Compensation

Key Employees and Officers	Compensation	Related	Other
Terri Hundley (Secretary)	$0	$0	$0
Eddie Deaton (Treasurer)	$0	$0	$0
Ralph L Farmer Jr (Commodore)	$0	$0	$0
Carter Ross Iii (Vice Commodore)	$0	$0	$0

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990

Filed on March 28, 2024

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending June
2022

Revenue

$225,632

Expenses

$209,718

Net Income

$15,914

Net Assets

$212,119

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$225,612	100.0%
Program Services	$0
Investment Income	$20	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$39,784	19.0%

Assets/Debt
Total Assets	$273,912
Total Liabilities	$61,793
Net Assets	$212,119

Club or Co-Op Income
Initiation Fees & Contributions	$0
Income From Public Use of Club Facilities	$203,112

Compensation

Key Employees and Officers	Compensation	Related	Other
Terri Hundley (Secretary)	$0	$0	$0
Eddie Deaton (Treasurer)	$0	$0	$0
Ralph L Farmer Jr (Commodore)	$0	$0	$0
Carter Ross Iii (Vice Commodore)	$0	$0	$0

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990

Filed on Sept. 15, 2022

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending June
2021

Revenue

$159,969

Expenses

$169,340

Net Income

-$9,371

Net Assets

$196,205

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$159,965	100.0%
Program Services	$0
Investment Income	$4	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$268,862
Total Liabilities	$72,657
Net Assets	$196,205

Club or Co-Op Income
Initiation Fees & Contributions	$159,969
Income From Public Use of Club Facilities	$0

Compensation

Key Employees and Officers	Compensation	Related	Other
David Keller (Commodore)	$0	$0	$0
Mike Mccord (Vice Commodore)	$0	$0	$0
Eddie Deaton (Secretary)	$0	$0	$0
David Keller (Commodore)	$0	$0	$0
Rocky Farmer (Vice Commodore)	$0	$0	$0
Terri Hundley (Secretary)	$0	$0	$0

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990

Filed on Oct. 15, 2021

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

View Filing

Schedules ▼

XML

Fiscal Year Ending June
2020

Revenue

$201,195

Expenses

$164,664

Net Income

$36,531

Net Assets

$205,575

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$201,170	100.0%
Program Services	$0
Investment Income	$25	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$38,730	23.5%

Assets/Debt
Total Assets	$271,303
Total Liabilities	$65,728
Net Assets	$205,575

Club or Co-Op Income
Initiation Fees & Contributions	$201,195
Income From Public Use of Club Facilities	$0

Compensation

Key Employees and Officers	Compensation	Related	Other
David Keller (Commodore)	$0	$0	$0
Mike Mccord (Vice Commodore)	$0	$0	$0
Eddie Deaton (Secretary)	$0	$0	$0

990

Filed on May 13, 2021

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

View Filing

Schedules ▼

XML

Fiscal Year Ending June
2019

Revenue

$153,044

Expenses

$136,640

Net Income

$16,404

Net Assets

$169,044

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$153,034	100.0%
Program Services	$0
Investment Income	$10	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$32,196	23.6%

Assets/Debt
Total Assets	$250,212
Total Liabilities	$81,168
Net Assets	$169,044

Club or Co-Op Income
Initiation Fees & Contributions	$153,034
Income From Public Use of Club Facilities	$0

990

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

PDF

PDF (2 of 2)

Fiscal Year Ending June
2018

Revenue

$163,506

Expenses

$167,895

Net Income

-$4,389

Net Assets

$146,953

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$163,493	100.0%
Program Services	$0
Investment Income	$10	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$33,350	19.9%

Assets/Debt
Total Assets	$241,450
Total Liabilities	$94,497
Net Assets	$146,953

Club or Co-Op Income
Initiation Fees & Contributions	$163,496
Income From Public Use of Club Facilities	$0

990

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

PDF

Fiscal Year Ending June
2017

Revenue

$146,115

Expenses

$149,862

Net Income

-$3,747

Net Assets

$150,856

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$146,095	100.0%
Program Services	$0
Investment Income	$20	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$29,663	19.8%

Assets/Debt
Total Assets	$275,966
Total Liabilities	$125,110
Net Assets	$150,856

Club or Co-Op Income
Initiation Fees & Contributions	$146,095
Income From Public Use of Club Facilities	$0

990

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

PDF

Fiscal Year Ending June
2016

Revenue

$145,912

Expenses

$139,962

Net Income

$5,950

Net Assets

$152,101

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$145,891	100.0%
Program Services	$0
Investment Income	$21	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$23,027	16.5%

Assets/Debt
Total Assets	$237,847
Total Liabilities	$85,746
Net Assets	$152,101

Club or Co-Op Income
Initiation Fees & Contributions	$145,912
Income From Public Use of Club Facilities	$0

990

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

PDF

Fiscal Year Ending June
2015

Revenue

$129,522

Expenses

$120,822

Net Income

$8,700

Net Assets

$148,652

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$127,799	98.7%
Program Services	$0
Investment Income	$23	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$1,700	1.3%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$21,208	17.6%

Assets/Debt
Total Assets	$275,263
Total Liabilities	$126,611
Net Assets	$148,652

Club or Co-Op Income
Initiation Fees & Contributions	$127,822
Income From Public Use of Club Facilities	$1,700

990

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

PDF

PDF (2 of 2)

Fiscal Year Ending June
2014

Revenue

$114,473

Expenses

$95,217

Net Income

$19,256

Net Assets

$137,250

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$109,494	95.7%
Program Services	$0
Investment Income	$29	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$4,950	4.3%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$21,867	23.0%

Assets/Debt
Total Assets	$203,213
Total Liabilities	$65,963
Net Assets	$137,250

Club or Co-Op Income
Initiation Fees & Contributions	$109,494
Income From Public Use of Club Facilities	$4,950

990

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

PDF

Fiscal Year Ending June
2013

Revenue

$73,873

Expenses

$84,758

Net Income

-$10,885

Net Assets

$108,367

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$70,254	95.1%
Program Services	$0
Investment Income	$19	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$3,600	4.9%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$20,000	23.6%

Assets/Debt
Total Assets	$184,175
Total Liabilities	$75,808
Net Assets	$108,367

Club or Co-Op Income
Initiation Fees & Contributions	$66,653
Income From Public Use of Club Facilities	$3,600

The IRS has provided extracted financial data for this filing, but has not yet released the source documents.

Fiscal Year Ending Dec.
2012

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 June
2012

Revenue

$75,559

Expenses

$77,587

Net Income

-$2,028

Net Assets

$123,351

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$70,099	92.8%
Program Services	$0
Investment Income	$60	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$5,400	7.1%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$19,167	24.7%

Assets/Debt
Total Assets	$206,098
Total Liabilities	$82,747
Net Assets	$123,351

Club or Co-Op Income
Initiation Fees & Contributions	$70,099
Income From Public Use of Club Facilities	$0

PDF

PDF (2 of 2)

Fiscal Year Ending June
2005

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

About This Data

What Is 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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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

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

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Somerset Boat Club Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $270k (2025)

Expenses $236k (2025)

Total Assets $296k (2025)

Total Liabilities $53.8k (2025)

Tax Filings by Year

Fiscal Year Ending June 2025

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending June 2024

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending June 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending June 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending June 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending June 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending June 2019

Extracted Financial Data

Extracted Financial Data from Form 990

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Fiscal Year Ending June 2018

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending June 2017

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending June 2016

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending June 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending June 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending June 2013

Extracted Financial Data

Extracted Financial Data from Form 990

No Document Links

Fiscal Year Ending Dec. 2012

Revenue

$270k (2025)

Expenses

$236k (2025)

Total Assets

$296k (2025)

Total Liabilities

$53.8k (2025)

Fiscal Year Ending June
2025

Fiscal Year Ending June
2024

Fiscal Year Ending June
2023

Fiscal Year Ending June
2022

Fiscal Year Ending June
2021

Fiscal Year Ending June
2020

Fiscal Year Ending June
2019

Fiscal Year Ending June
2018

Fiscal Year Ending June
2017

Fiscal Year Ending June
2016

Fiscal Year Ending June
2015

Fiscal Year Ending June
2014

Fiscal Year Ending June
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending June
2012

Fiscal Year Ending June
2011

Fiscal Year Ending June
2010

Fiscal Year Ending June
2009

Fiscal Year Ending June
2008

Fiscal Year Ending June
2007

Fiscal Year Ending June
2006

Fiscal Year Ending June
2005