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Nonprofit · EIN 05-0209115

RHODE ISLAND YACHT CLUB

Tax-exempt · CRANSTON, RI 02905

Financials

$672K$634K2023$688K$580K2024
Revenue Expenses · by fiscal year end
Financials of RHODE ISLAND YACHT CLUB by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$688,160$580,419$107,741$2,281,633$1,426,645$854,988
December 31, 2023990$671,585$633,840$37,745$2,239,184$1,491,937$747,247
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$626,706
Investment income
$5,492
Net rental income
$19,353
Net income from sales of inventory
$1,406
Other revenue
$55,962

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$67,635
Salaries, compensation and benefits (total)
$75,628
Professional fundraising fees
$0
Accounting fees
$7,450
Occupancy
$64,842
Depreciation
$73,407

Balance sheet and other

Total assets, start of year
$2,239,184
Total assets, end of year
$2,281,633
Total liabilities, end of year
$1,426,645
Net assets, end of year
$854,988
Land, buildings and equipment
$1,118,538
Net assets without donor restrictions
$854,988
Gross unrelated business income
$23,029
Gross receipts
$1,219,948
Employees
23
Volunteers
15
Year formed
1877
State of legal domicile
RI

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
MARK GALLAGHERCOMMODORE
Trustee or director, Officer
10$0
ROBERT O'BRIENVICE COMMODORE
Trustee or director, Officer
10$0
HOLLY HUNTREAR COMMODORE
Trustee or director, Officer
10$0
MICHELYN SACCOCCIOSECRETARY
Trustee or director, Officer
10$0
PAMELA DALYTREASURER
Trustee or director, Officer
10$0
NANCY AUBINANCHORAGE
Trustee or director
5$0
AL COLEMANBUILDING & GROUNDS
Trustee or director
5$0
SUSAN TOLANDHOUSE
Trustee or director
5$0
EMILY JAMESJUNIOR ACTIVITIES
Trustee or director
5$0
KATHERINE SOULELIBRARY/YEARBOOK
Trustee or director
5$0
KRISTOFER BOUTINMEMBERSHIP
Trustee or director
5$0
DAVID BLEZARDRACE
Trustee or director
5$0
LINDA DEMAINESOCIAL
Trustee or director
10$0
MICHAEL DUNKWAYS & MEANS
Trustee or director
10$0
RICHARD MAGNANTJUNIOR EX-COMMODORE
Trustee or director, Officer
10$0
990 for the year ended December 31, 2023: 15 people
NameTitleHours / weekCompensation
MARK GALLAGHERCOMMODORE
Trustee or director, Officer
10$0
DAVID TESSITOREVICE COMMODORE
Trustee or director, Officer
10$0
ROBERT O'BRIENREAR COMMODORE
Trustee or director, Officer
10$0
HOLLY HUNTSECRETARY
Trustee or director, Officer
10$0
PAMELA DALYTREASURER
Trustee or director, Officer
10$0
NANCY AUBINANCHORAGE
Trustee or director
5$0
AL COLEMANBUILDING & GROUNDS
Trustee or director
5$0
SUSAN TOLANDHOUSE
Trustee or director
5$0
EMILY JAMESJUNIOR ACTIVITIES
Trustee or director
5$0
KATHERINE SOULELIBRARY/YEARBOOK
Trustee or director
5$0
KRISTOFER BOUTINMEMBERSHIP
Trustee or director
5$0
THOMAS TRACYRACE
Trustee or director
5$0
LINDA DEMAINESOCIAL
Trustee or director
10$0
JOHN SMITHWAYS & MEANS
Trustee or director
10$0
RICHARD MAGNANTJUNIOR EX-COMMODORE
Trustee or director, Officer
10$0

Address and contacts

Address (IRS master file)
1 OCEAN AVE, CRANSTON, RI 02905-3624
Principal officer (990 for 2024)
CRAIG FORBES, ONE OCEAN AVENUE, CRANSTON, RI 02905
Signed the 990
CRAIG FORBES, TREASURER
Phone
(401) 941-3335
Return prepared by
PKF O'CONNOR DAVIES ADVISORY LLC

Mission

TO PROVIDE MEANS FOR THE RECREATION AND ENTERTAINMENT OF ITS MEMBERS, BY ESTABLISHING AND MAINTAINING A CLUB WITH THE PROPER ANCHORAGE, MARINA AND RELATED FACILITIES TO PROMOTE YACHTING, SEAMANSHIP AND SOCIAL ACTIVITIES.

990 for the year ended December 31, 2024

Program accomplishments

  • CONDUCTING NORMAL OPERATIONS OF A YACHT CLUB FOR THE BENEFIT OF ITS MEMBERS INCLUDING WATERFRONT ANCHORAGE AND MARINA FACILITIES.
  • MAINTAINING DINING AND LOUNGE FACILITIES FOR THE SOCIAL GATHERING OF MEMBERS AND THEIR GUESTS.
  • CLUB RACING AND OTHER CLUB EVENTS AND SOCIAL ACTIVITIES.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
05-0209115
Tax-exempt status
501(c)(7): Social or recreational club
Donations deductible
No
Exempt since
1974
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$2,281,633
Income (IRS master file)
$1,219,948

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$688,160$580,419$2,281,633XML
990December 2023$671,585$633,840$2,239,184XML
990December 2022$612,330$642,519$2,227,069IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 05-0209115).

Questions about RHODE ISLAND YACHT CLUB

What is the EIN of RHODE ISLAND YACHT CLUB?
The employer identification number (EIN) of RHODE ISLAND YACHT CLUB is 05-0209115.
Is RHODE ISLAND YACHT CLUB tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(7) since 1974.
Are donations to RHODE ISLAND YACHT CLUB tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does RHODE ISLAND YACHT CLUB file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of RHODE ISLAND YACHT CLUB due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did RHODE ISLAND YACHT CLUB last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of RHODE ISLAND YACHT CLUB?
The 990 for the year ended December 31, 2024 names CRAIG FORBES.
Who are the officers and directors of RHODE ISLAND YACHT CLUB?
The 990 for the year ended December 31, 2024 lists 15 people; 0 received compensation from the organization.
How much revenue does RHODE ISLAND YACHT CLUB have?
On its 990 for the year ended December 31, 2024 it reported revenue of $688,160, expenses of $580,419 and total assets of $2,281,633 at year end.

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