Nonprofit · EIN 04-1860160
SQUANTUM YACHT CLUB
Tax-exempt · QUINCY, MA 02170
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $208,548 | $253,071 | -$44,523 | $93,453 | $9,531 | $83,922 |
| December 31, 2023 | 990 | $325,741 | $322,564 | $3,177 | $137,479 | $9,034 | $128,445 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $207,861
- Investment income
- $687
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $74,647
- Salaries, compensation and benefits (total)
- $80,754
- Professional fundraising fees
- $0
- Accounting fees
- $3,250
- Occupancy
- $30,498
- Depreciation
- $5,671
- Program services (functional)
- $233,791
- Management and general (functional)
- $19,280
Balance sheet and other
- Total assets, start of year
- $137,479
- Total assets, end of year
- $93,453
- Total liabilities, end of year
- $9,531
- Net assets, end of year
- $83,922
- Land, buildings and equipment
- $44,939
- Net assets without donor restrictions
- $83,922
- Gross unrelated business income
- $45,253
- Gross receipts
- $208,548
- Employees
- 25
- Volunteers
- 0
- Year formed
- 1890
- State of legal domicile
- MA
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 |
|---|---|---|---|
| ROBERT DESMOND | REAR COMMODORE Trustee or director | 2 | $0 |
| SEAN COUTURE | VICE COMMONDORE Trustee or director | 2 | $0 |
| MARK JAEHNIG | DIRECTOR Trustee or director | 2 | $0 |
| ARTHUR FORMANEK | DIRECTOR Trustee or director | 2 | $0 |
| MARY MICHAEL | DIRECTOR Trustee or director | 2 | $0 |
| SAL DARJI | TREASURER Officer | 2 | $0 |
| JOHN CIANCI | SECRETARY Officer | 2 | $0 |
| ELIZABETH NUZZO | FIN SECT Officer | 2 | $0 |
| CHARLES KOURAFAS | PRESIDENT Officer | 2 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| VICTOR MONTANEZ | VICE COMMONDORE Trustee or director | 2 | $0 |
| SEAN COUTURE | REAR COMMONDORE Trustee or director | 2 | $0 |
| PAUL ASTRELLA | DIRECTOR Trustee or director | 2 | $0 |
| NINA MELTZER | DIRECTOR Trustee or director | 2 | $0 |
| DEAN ROMANO | DIRECTOR Trustee or director | 2 | $0 |
| WALTER JONES | TREASURER Officer | 2 | $0 |
| JOHN CIANCI | SECRETARY Officer | 2 | $0 |
| STEPHEN REID | FIN SECT Officer | 2 | $0 |
| CHARLES KOURAFAS | PRESIDENT Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 646 QUINCY SHORE DR, QUINCY, MA 02170-2220
- Principal officer (990 for 2024)
- CHARLES KOURAFAS, 49 BAY ST, SQUANTUM, MA 02169
- Signed the 990
- CHARLES KOURAFAS, PRESIDENT
- Phone
- (617) 770-4811
- Website
- HTTPS://WWW.SQUANTUMYC.ORG/
- Return prepared by
- MICHAEL J RAYMOND CPA
Mission
SQUANTUM YACHT CLUB PROVIDES ITS MEMBERS WITH BOATING AND YACHT SUPPORT SERVICES. IT ALSO PROMOTES BOAT SAFETY AND SPONSORS BOTH ADULT AND YOUTH BOATING ACTIVITIES. SQUANTUM YACHT CLUB HAS PROMOTED BOATING IN QUINCY BAY AND SURROUNDING WATERS SINCE THE LATE 1800S. THE CLUB HAS 75 REGULAR MEMBERS, 30 LIFE MEMBERS AND 57 SOCIAL MEMBERS. IT RUNS A JUNIOR SAILING PROGRAM FOR BOTH MEMBER AND NON-MEMBER CHILDREN IN THE COMMUNITY (AGES 8-17). THE SQUANTUM YACHT CLUB HAS BEEN HOSTING THE LIPTON CUP REGATTA IN THE MONTH OF JULY FOR OVER 30 YEARS. IT DRAWS BOTH JUNIOR AND ADULT SAILORS FROM ALL OVER NEW ENGLAND. SQUANTUM YACHT CLUB ALSO PROVIDES FREE USAGE OF IT'S HALL TO THE QUINCY HIGH SCHOOL SPORTS TEAMS AND OTHER CIVIC ORGANIZATIONS.
Program accomplishments
- SQUANTUM YACHT CLUB PROVIDES ITS MEMBERS WITH BOATING AND YACHT SUPPORT SERVICES. IT ALSO PROMOTES BOAT SAFETY AND SPONSORS BOTH ADULT AND YOUTH BOATING ACTIVITIES. SQUANTUM YACHT CLUB HAS PROMOTED BOATING IN QUINCY BAY AND SURROUNDING WATERS SINCE THE LATE 1800S. THE CLUB HAS 52 REGULAR MEMBERS, 26 LIFE MEMBERS AND 84 SOCIAL MEMBERS. IT RUNS A JUNIOR SAILING PROGRAM FOR BOTH MEMBER AND NON-MEMBER CHILDREN IN THE COMMUNITY (AGES 8-17). THE SQUANTUM YACHT CLUB HAS BEEN HOSTING THE LIPTON CUP REGATTA IN THE MONTH OF JULY FOR OVER 30 YEARS. IT DRAWS BOTH JUNIOR AND ADULT SAILORS FROM ALL OVER NEW ENGLAND. SQUANTUM YACHT CLUB ALSO PROVIDES FREE USAGE OF IT'S HALL TO THE QUINCY HIGH SCHOOL SPORTS TEAMS AND OTHER CIVIC ORGANIZATIONS.Expenses $233,791
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
- 04-1860160
- Tax-exempt status
- 501(c)(7): Social or recreational club
- Donations deductible
- No
- Exempt since
- 1992
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $93,453
- Income (IRS master file)
- $208,548
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $208,548 | $253,071 | $93,453 | XML |
| 990 | December 2023 | $325,741 | $322,564 | $137,479 | XML |
| 990 | December 2022 | $242,745 | $277,991 | $125,862 | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990 | 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 04-1860160).
Questions about SQUANTUM YACHT CLUB
- What is the EIN of SQUANTUM YACHT CLUB?
- The employer identification number (EIN) of SQUANTUM YACHT CLUB is 04-1860160.
- Is SQUANTUM YACHT CLUB tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(7) since 1992.
- Are donations to SQUANTUM YACHT CLUB tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does SQUANTUM 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 SQUANTUM 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 SQUANTUM 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 SQUANTUM YACHT CLUB?
- The 990 for the year ended December 31, 2024 names CHARLES KOURAFAS.
- Who are the officers and directors of SQUANTUM YACHT CLUB?
- The 990 for the year ended December 31, 2024 lists 9 people; 0 received compensation from the organization.
- How much revenue does SQUANTUM YACHT CLUB have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $208,548, expenses of $253,071 and total assets of $93,453 at year end.
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