Nonprofit · EIN 85-0863199
OCEAN CITY YACHT CLUB FOUNDATION INC
Tax-exempt · OCEAN CITY, NJ 08226
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-EZ | $56,070 | $28,132 | $27,938 | $124,793 | $6,270 | $118,523 |
| December 31, 2023 | 990-EZ | $57,501 | $37,335 | $20,166 | $91,485 | $900 | $90,585 |
Financial details: 990-EZ for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $51,722
- Program service revenue
- $4,348
Expenses
- Compensation of officers, directors and key employees
- $0
- Professional fees and payments to contractors
- $910
- Other expenses
- $27,222
- Program services (functional)
- $23,859
Balance sheet and other
- Total assets, start of year
- $91,485
- Total assets, end of year
- $124,793
- Total liabilities, end of year
- $6,270
- Net assets, end of year
- $118,523
- Cash, savings and investments
- $124,793
- Gross receipts
- $56,070
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-EZ for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAVID YHLEN | TREASURER | 0 | $0 |
| BRAD JUNGELS | TRUSTEE/DIRE | 0 | $0 |
| DARLENE TORZOLINI | SECRETARY | 0 | $0 |
| KAREN MAYER | TRUSTEE | 0 | $0 |
| KATE DOMS | TRUSTEE | 0 | $0 |
| SARA MAGGITTI | TRUSTEE | 0 | $0 |
| CHARLES SESSA JR | CHAIRMAN | 0 | $0 |
990-EZ for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHARLES SESSA | TREASURER | 0 | $0 |
| BRAD JUNGELS | CHAIRMAN | 0 | $0 |
| DARLENE TORZOLINI | SECRETARY | 0 | $0 |
| KAREN MAYER | TRUSTEE | 0 | $0 |
| KATE DOMS | TRUSTEE | 0 | $0 |
| SARA MAGGITTI | TRUSTEE | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 100 BAY RD, OCEAN CITY, NJ 08226-4442
- In care of
- % FRANK MAYER ESQ
- Mailing address (990-N for 2021)
- 100 Bay Road, Ocean City NJ 08266
- Principal officer (990-N for 2021)
- Charles Sessa, 100 Bay Road, Ocean City NJ 08266
- Signed the 990-EZ
- DAVID YHLEN, TREASURER
- Phone
- (609) 399-6600
- Website
- WWW.OCYC.ORG
- Return prepared by
- C DIGIACOMO CPA & ASSOCIATES LLC
Mission
TO PROVIDE OPPORTUNITIES TO FOSTER LOCAL EXCELLENCE IN AMATEUR MARITIME ACTIVITIES AND COMPETITIONS; TO SUPPORT STUDENTS IN MARITIME RELATED HIGHER EDUCATION; TO CONTRIBUTE TO MARITIME RELATED CHARITABLE AND EDUCATIONAL ORGANIZATIONS, AND TO MAINTAIN AND EXHIBIT THE FOUNDATION'S COLLECTIONS OF ARTWORK AND OTHER ARTICLES OF HISTORICAL IMPORTANCE AND TO PROVIDE EDUCATIONAL PROGRAMS ON MARITIME HISTORY AND RELATED TOPICS.
Program accomplishments
- TO PROVIDE OPPORTUNITIES TO FOSTER LOCAL EXCELLENCE IN AMATEUR MARITIME ACTIVITIES AND COMPETITIONS; TO SUPPORT STUDENTS IN MARITIME RELATED HIGHER EDUCATION; TO CONTRIBUTE TO MARITIME RELATED CHARITABLE AND EDUCATIONAL ORGANIZATIONS, AND TO MAINTAIN AND EXHIBIT THE FOUNDATION'S COLLECTIONS OF ARTWORK AND OTHER ARTICLES OF HISTORICAL IMPORTANCE AND TO PROVIDE EDUCATIONAL PROGRAMS ON MARITIME HISTORY AND RELATED TOPICS.Expenses $23,859
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 85-0863199
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N67)
- Assets (IRS master file)
- $124,793
- Income (IRS master file)
- $56,070
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2024 | $56,070 | $28,132 | $124,793 | XML |
| 990-EZ | December 2023 | $57,501 | $37,335 | $91,485 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-N for 2021 Officer: Charles Sessa | December 31, 2021 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2020 Officer: Charles Sessa | December 31, 2020 | ≤ $50,000 receipts | – | – | e-Postcard |
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 85-0863199).
Questions about OCEAN CITY YACHT CLUB FOUNDATION INC
- What is the EIN of OCEAN CITY YACHT CLUB FOUNDATION INC?
- The employer identification number (EIN) of OCEAN CITY YACHT CLUB FOUNDATION INC is 85-0863199.
- Is OCEAN CITY YACHT CLUB FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to OCEAN CITY YACHT CLUB FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does OCEAN CITY YACHT CLUB FOUNDATION INC 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 OCEAN CITY YACHT CLUB FOUNDATION INC 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 OCEAN CITY YACHT CLUB FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2024.
- Who is the principal officer of OCEAN CITY YACHT CLUB FOUNDATION INC?
- The 990-N for 2021 names Charles Sessa.
- Who are the officers and directors of OCEAN CITY YACHT CLUB FOUNDATION INC?
- The 990-EZ for the year ended December 31, 2024 lists 7 people; 0 received compensation from the organization.
- How much revenue does OCEAN CITY YACHT CLUB FOUNDATION INC have?
- On its 990-EZ for the year ended December 31, 2024 it reported revenue of $56,070, expenses of $28,132 and total assets of $124,793 at year end.
Other nonprofits in OCEAN CITY
- OCEAN CITY CREW BOOSTERS INC EIN 20-0246294 · last filed 990-EZ for 2024
- NATIONAL EXCHANGE CLUB EIN 22-6081226 · last filed 990-EZ for 2025
- OCEAN CITY SAILING FOUNDATION EIN 26-1075933 · last filed 990-EZ for 2025
- OCEAN CITY RED RAIDERS YOUTH SOCCER AND LACROSSE PROGRAM EIN 88-2192642 · last filed 990-N for 2025
- HUMANE SOCIETY OF OCEAN CITY INC EIN 22-1894787 · last filed 990 for 2024
- OCEAN CITY TABERNACLE ASSOC EIN 21-0738420 · last filed 990 for 2024
- OCEAN CITY YACHT CLUB EIN 23-1424953 · last filed 990 for 2025
- EMPRYEAN CANVAS INC EIN 92-1131564 · last filed 990-PF for 2025
All nonprofits in OCEAN CITY · New Jersey · Recreation and sports