Nonprofit · EIN 95-3301201
LIDO ISLE YACHT CLUB
Tax-exempt · NEWPORT BEACH, CA 92663
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $419,077 | $348,930 | $70,147 | $152,624 | $0 | $152,624 |
| December 31, 2023 | 990 | $356,504 | $500,975 | -$144,471 | $82,477 | $0 | $82,477 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $47,366
- Program service revenue
- $328,976
- Investment income
- $9
- Net income from fundraising events
- $32,828
- Other revenue
- $42,726
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $114,464
- Salaries, compensation and benefits (total)
- $125,361
- Professional fundraising fees
- $0
- Accounting fees
- $2,740
- Depreciation
- $3,541
- Program services (functional)
- $271,173
- Management and general (functional)
- $73,416
- Fundraising (functional)
- $800
Balance sheet and other
- Total assets, start of year
- $82,477
- Total assets, end of year
- $152,624
- Total liabilities, end of year
- $0
- Net assets, end of year
- $152,624
- Land, buildings and equipment
- $21,240
- Net assets without donor restrictions
- $152,624
- Gross receipts
- $429,294
- Employees
- 17
- Volunteers
- 25
- Year formed
- 1928
- State of legal domicile
- CA
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.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| STERLING COBERLY | Director Trustee or director | 2 | $0 |
| JOHN SCHLEGEL | DIRECTOR Trustee or director | 2 | $0 |
| MIKE O'SHEA | Director Trustee or director | 2 | $0 |
| JON FLAGG | Secretary Officer | 5 | $0 |
| WENDY WEBB | VICE COMMODORE Officer | 10 | $0 |
| GREG WARD | FLEET CAPT Officer | 10 | $0 |
| LAURA SHARP | REAR COMMODORE Officer | 10 | $0 |
| MIKE BULLOCK | COMMODORE Officer | 10 | $0 |
| GEORGE TURK | Treasurer Officer | 10 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| STERLING COBERLY | PORT CAPTAIN Trustee or director | 2 | $0 |
| JOHN SCHLEGEL | DIRECTOR Trustee or director | 2 | $0 |
| MIKE O'SHEA | Director Trustee or director | 2 | $0 |
| JON FLAGG | Secretary Officer | 5 | $0 |
| WENDY WEBB | REAR COMMODORE Officer | 10 | $0 |
| GREG WARD | FLEET CAPT Officer | 10 | $0 |
| TISHA SITZER | COMMODORE Officer | 10 | $0 |
| MIKE BULLOCK | VICE COMMODORE Officer | 10 | $0 |
| GEORGE TURK | Treasurer Officer | 10 | $0 |
Address and contacts
- Address (IRS master file)
- 701 VIA LIDO SOUD, NEWPORT BEACH, CA 92663-5530
- Signed the 990
- GEORGE TURK, Treasurer
- Phone
- (949) 673-5119
- Website
- LIYC.NET
- Return prepared by
- Rea Whitehead & Associates Inc
California records
California keeps its own records of charities and corporations. Search them by EIN 95-3301201 or by the name LIDO ISLE YACHT CLUB.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
TO PROMOTE SEAMANSHIP AND CAMARADERIE WITHIN THE LIDO ISLE COMMUNITY. A SUMMER YOUTH SAILING PROGRAM IS THE LARGEST CLUB ACTIVITY. ADULT EVENTS INCLUDE SOCIAL GATHERING AND SAILING INSTRUCTION.
Program accomplishments
- YOUTH SAILING PROGRAM PROVIDING INSTRUCTION TO KIDS.Expenses $137,797 · revenue $148,691
- HOSTING YACHTING EVENTS SUCH AS REGATTAS OPEN TO THE PUBLIC. CLASSES HELD TO PROMOTE SEAMANSHIP AND SAFETY ON THE WATER.Expenses $133,376 · revenue $53,244
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 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 95-3301201
- Tax-exempt status
- 501(c)(7): Social or recreational club
- Donations deductible
- No
- Exempt since
- 1989
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $152,624
- Income (IRS master file)
- $429,294
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $419,077 | $348,930 | $152,624 | XML |
| 990 | December 2023 | $356,504 | $500,975 | $82,477 | XML |
| 990 | December 2022 | $445,490 | $510,905 | $226,948 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | 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 95-3301201).
Questions about LIDO ISLE YACHT CLUB
- What is the EIN of LIDO ISLE YACHT CLUB?
- The employer identification number (EIN) of LIDO ISLE YACHT CLUB is 95-3301201.
- Is LIDO ISLE YACHT CLUB tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(7) since 1989.
- Are donations to LIDO ISLE YACHT CLUB tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does LIDO ISLE 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 LIDO ISLE 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 LIDO ISLE 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 are the officers and directors of LIDO ISLE YACHT CLUB?
- The 990 for the year ended December 31, 2024 lists 9 people; 0 received compensation from the organization.
- How much revenue does LIDO ISLE YACHT CLUB have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $419,077, expenses of $348,930 and total assets of $152,624 at year end.
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