Nonprofit · EIN 56-0167465
CAROLINA YACHT CLUB
Tax-exempt · WRITSVLLE BCH, NC 28480
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| October 31, 2025 | 990 | $3,251,577 | $2,435,093 | $816,484 | $13,572,806 | $38,601 | $13,534,205 |
| October 31, 2024 | 990 | $2,823,692 | $2,206,886 | $616,806 | $12,758,750 | $41,029 | $12,717,721 |
| October 31, 2023 | 990 | $3,498,617 | $2,077,939 | $1,420,678 | $12,152,805 | $51,890 | $12,100,915 |
Financial details: 990 for the year ended October 31, 2025
Revenue
- Contributions, gifts and grants
- $1,536,482
- Membership dues
- $1,199,762
- Program service revenue
- $1,055,229
- Investment income
- $150,568
- Net rental income
- $199,872
- Other revenue
- $509,298
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $185,070
- Other salaries and wages
- $800,688
- Salaries, compensation and benefits (total)
- $1,095,153
- Professional fundraising fees
- $0
- Legal fees
- $320
- Accounting fees
- $7,475
- Travel
- $2,038
- Depreciation
- $260,478
- Program services (functional)
- $1,021,099
- Management and general (functional)
- $1,413,994
Balance sheet and other
- Total assets, start of year
- $12,758,750
- Total assets, end of year
- $13,572,806
- Total liabilities, end of year
- $38,601
- Net assets, end of year
- $13,534,205
- Land, buildings and equipment
- $8,183,317
- Net assets without donor restrictions
- $13,534,205
- Gross unrelated business income
- $163,057
- Gross receipts
- $3,251,577
- Employees
- 101
- Volunteers
- 7
- Year formed
- 1873
- State of legal domicile
- NC
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 October 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KEVIN SMITH | CLUB MANAGER Highest-paid employee | 45 | $182,671 |
| ELIZABETH MCLEAN | PURSER Officer | 2 | $2,400 |
| DOUG SHERWOOD | COMMANDER Officer | 1 | $0 |
| JAY SMITH | FLEET CAPTAIN Officer | 2 | $0 |
| MICHAEL WASHBURN | FLAG CAPTAIN Officer | 1 | $0 |
| JAMES HUNDLEY Jr | COMMANDER Officer | 1 | $0 |
| PHILLIP HUMPHREY | COMMODORE Officer | 2 | $0 |
| ASHLEY HOWARD | COMMANDER Officer | 1 | $0 |
| MICHAEL TEER Jr | COMMANDER Officer | 1 | $0 |
990 for the year ended October 31, 2024: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KEVIN SMITH | CLUB MANAGER Key employee, Highest-paid employee | 45 | $152,427 | $14,194 |
| ELIZABETH MCLEAN | PURSER Officer | 2 | $2,400 | $0 |
| PHILLIP HUMPHREY | FLEET CAPTAIN Officer | 1 | $0 | $0 |
| KOO MACQUEEN | COMMANDER Officer | 1 | $0 | $0 |
| CHARLOTTE HICKS | COMMODORE Officer | 2 | $0 | $0 |
| JAMES HUNDLEY JR | COMMANDER Officer | 1 | $0 | $0 |
| JAY SMITH | FLAG CAPTAIN Officer | 2 | $0 | $0 |
| MICHAEL WASHBURN | COMMANDER Officer | 1 | $0 | $0 |
| DOUG SHERWOOD | COMMANDER Officer | 1 | $0 | $0 |
990 for the year ended October 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KEVIN SMITH | CLUB MANAGER Key employee, Highest-paid employee | 45 | $139,041 |
| ELIZABETH MCLEAN | PURSER Officer | 2 | $2,400 |
| PHILIP HUMPHREY | FLAG CAPTAIN Officer | 1 | $0 |
| DOUG SHERWOOD | COMMANDER Officer | 1 | $0 |
| JAAMES HUNDLEY | COMMANDER Officer | 1 | $0 |
| CHARLOTTE HICKS | FLEET CAPTAIN Officer | 1 | $0 |
| JAY SMITH | COMMANDER Officer | 2 | $0 |
| MICHAEL WASHBURN | COMMANDER Officer | 1 | $0 |
| KIMBERLY MORRIS | COMMODORE Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 401 LUMINA AVE S, WRITSVLLE BCH, NC 28480-6006
- In care of
- % ELIZABETH MCLEAN
- Signed the 990
- ELIZABETH MCLEAN, PURSER
- Phone
- (910) 256-3396
- Website
- CAROLINAYACHTCLUB.ORG
- Return prepared by
- Gwen F Spader CPA
Mission
PRIVATE SAILING SOCIAL CLUB
Program accomplishments
- PARTICIPATED IN SAILING REGATTAS. PROMOTING SAILING. PROVIDING SAILING INSTRUCTION WITH BOTH JUNIOR AND SENIOR SAILING PROGRAMS.Expenses $1,021,099
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 October, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | October 31, 2026 | March 15, 2027 | Not due yet |
| 2024 | October 31, 2025 | March 16, 2026 | 990 on file |
| 2023 | October 31, 2024 | March 17, 2025 | 990 on file |
IRS record
- EIN
- 56-0167465
- Tax-exempt status
- 501(c)(7): Social or recreational club
- Donations deductible
- No
- Exempt since
- 1944
- Accounting year ends
- October
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $13,572,806
- Income (IRS master file)
- $3,251,577
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | October 2025 | $3,251,577 | $2,435,093 | $13,572,806 | XML |
| 990 | October 2024 | $2,823,692 | $2,206,886 | $12,758,750 | XML |
| 990 | October 2023 | $3,498,617 | $2,077,939 | $12,152,805 | XML |
| 990 | October 2022 | $2,816,780 | $1,883,527 | $10,764,329 | IRS |
| 990 | October 2021 | – | – | – | IRS |
| 990 | October 2020 | – | – | – | IRS |
| 990 | October 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 56-0167465).
Questions about CAROLINA YACHT CLUB
- What is the EIN of CAROLINA YACHT CLUB?
- The employer identification number (EIN) of CAROLINA YACHT CLUB is 56-0167465.
- Is CAROLINA YACHT CLUB tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(7) since 1944.
- Are donations to CAROLINA YACHT CLUB tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CAROLINA 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 CAROLINA YACHT CLUB due?
- The return for tax year 2025 (the year ending October 31, 2026) is due March 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CAROLINA YACHT CLUB last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended October 2025.
- Who are the officers and directors of CAROLINA YACHT CLUB?
- The 990 for the year ended October 31, 2025 lists 9 people; 2 received compensation from the organization, the highest $182,671 (KEVIN SMITH, CLUB MANAGER).
- How much revenue does CAROLINA YACHT CLUB have?
- On its 990 for the year ended October 31, 2025 it reported revenue of $3,251,577, expenses of $2,435,093 and total assets of $13,572,806 at year end.
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