Nonprofit · EIN 23-7120748
WAYZATA YACHT CLUB
Tax-exempt · WAYZATA, MN 55391
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $876,491 | $794,808 | $81,683 | $1,697,365 | $512,635 | $1,184,730 |
| December 31, 2024 | 990 | $864,170 | $841,540 | $22,630 | $1,611,661 | $515,814 | $1,095,847 |
| December 31, 2023 | 990 | $682,617 | $708,701 | -$26,084 | $1,591,639 | $524,822 | $1,066,817 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $875,531
- Investment income
- $960
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $1,500
- Other salaries and wages
- $165,133
- Salaries, compensation and benefits (total)
- $180,888
- Professional fundraising fees
- $0
- Legal fees
- $2,804
- Accounting fees
- $29,100
- Depreciation
- $99,746
Balance sheet and other
- Total assets, start of year
- $1,611,661
- Total assets, end of year
- $1,697,365
- Total liabilities, end of year
- $512,635
- Net assets, end of year
- $1,184,730
- Land, buildings and equipment
- $1,347,248
- Gross unrelated business income
- $16,177
- Gross receipts
- $876,491
- Employees
- 18
- Volunteers
- 100
- Year formed
- 1965
- State of legal domicile
- MN
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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| THORN TURNER | REAR COMMODORE Trustee or director, Officer | 5 | $0 |
| PAUL QUAST | COMMODORE Trustee or director, Officer | 10 | $0 |
| RICH BAKER | VICE COMMODORE Trustee or director, Officer | 5 | $0 |
| BARBARA SPELTZ | DIRECTOR Trustee or director | 5 | $0 |
| TERRY FOSTER | DIRECTOR Trustee or director | 5 | $0 |
| MIKE SCHMID | DIRECTOR Trustee or director | 5 | $0 |
| DEREK SCHMIT | SECRETARY Trustee or director, Officer | 5 | $0 |
| JOHN RAINALDI | DIRECTOR Trustee or director | 5 | $0 |
| CHAD OLNESS | TREASURER Trustee or director, Officer | 5 | $0 |
| KURTIS WINTHEISER | DIRECTOR Trustee or director | 5 | $0 |
| ERIC LUNDEEN | DIRECTOR Trustee or director | 5 | $0 |
| ANDY SPENCE-PARSONS | DIRECTOR Trustee or director | 5 | $0 |
| MONICA MYERS | DIRECTOR Trustee or director | 5 | $0 |
| UTA MONCUR | DIRECTOR Trustee or director | 5 | $0 |
| ROSS LUKEN | DIRECTOR Trustee or director | 5 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAMES TAYLOR | DIRECTOR Trustee or director | 5 | $0 |
990 for the year ended December 31, 2024: 16 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| THORN TURNER | REAR COMMODORE Trustee or director, Officer | 5 | $0 |
| PAUL QUAST | COMMODORE Trustee or director, Officer | 10 | $0 |
| RICH BAKER | VICE COMMODORE Trustee or director, Officer | 5 | $0 |
| BARBARA SPELTZ | DIRECTOR Trustee or director | 5 | $0 |
| TERRY FOSTER | DIRECTOR Trustee or director | 5 | $0 |
| MIKE SCHMID | DIRECTOR Trustee or director | 5 | $0 |
| DEREK SCHMIT | SECRETARY Trustee or director, Officer | 5 | $0 |
| JOHN RAINALDI | DIRECTOR Trustee or director | 5 | $0 |
| CHAD OLNESS | TREASURER Trustee or director, Officer | 5 | $0 |
| KURTIS WINTHEISER | DIRECTOR Trustee or director | 5 | $0 |
| ERIC LUNDEEN | DIRECTOR Trustee or director | 5 | $0 |
| ANDY SPENCE-PARSONS | DIRECTOR Trustee or director | 5 | $0 |
| MONICA MYERS | DIRECTOR Trustee or director | 5 | $0 |
| UTA MONCUR | DIRECTOR Trustee or director | 5 | $0 |
| ROSS LUKEN | DIRECTOR Trustee or director | 5 | $0 |
| JAMES TAYLOR | DIRECTOR Trustee or director | 5 | $0 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| THORN TURNER | REAR COMMODORE Trustee or director, Officer | 5 | $0 |
| PAUL QUAST | COMMODORE Trustee or director, Officer | 10 | $0 |
| RICH BAKER | VICE COMMODORE Trustee or director, Officer | 5 | $0 |
| BARBARA SPELTZ | DIRECTOR Trustee or director | 5 | $0 |
| JONATHAN MCDONAGH | DIRECTOR Trustee or director | 5 | $0 |
| TERRY FOSTER | DIRECTOR Trustee or director | 5 | $0 |
| MIKE SCHMID | SECRETARY Trustee or director, Officer | 5 | $0 |
| NILS BRENNOM | DIRECTOR Trustee or director | 5 | $0 |
| DEREK SCHMIT | DIRECTOR Trustee or director | 5 | $0 |
| JOHN RAINALDI | DIRECTOR Trustee or director | 5 | $0 |
| CHANDRA WOBSCHALL | TREASURER Trustee or director, Officer | 5 | $0 |
| KURTIS WINTHEISER | DIRECTOR Trustee or director | 5 | $0 |
| ERIC LUNDEEN | DIRECTOR Trustee or director | 5 | $0 |
| ANDY SPENCE-PARSONS | DIRECTOR Trustee or director | 5 | $0 |
| MONICA MYERS | DIRECTOR Trustee or director | 5 | $0 |
| UA MONCUR | DIRECTOR Trustee or director | 5 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 585, WAYZATA, MN 55391-0585
- In care of
- % WAYNE E BREN
- Principal officer (990 for 2025)
- CHAD OLNESS, PO BOX 585, WAYZATA, MN 55391
- Signed the 990
- CHAD OLNESS, TREASURER
- Phone
- (612) 701-3230
- Website
- HTTPS://WWW.WYC.ORG
- Return prepared by
- COPELAND BUHL & COMPANY PLLP
Mission
THE PURPOSE OF WYC IS TO PROMOTE AND DEVELOP ACTIVE AND COMPETITIVE SAILBOAT RACING, THROUGH WHICH PROFICIENT SEAMANSHIP AND SPORTSMANSHIP ARE PRACTICED, PROMOTED AND ENCOURAGED. WYC ALSO SEEKS TO PROVIDE EDUCATIONAL SEMINARS AND PRACTICAL APPLICATION OF LEARNED SKILLS.
Program accomplishments
- THE WAYZATA YACHT CLUB (WYC) OVERSEES ONE OF THE LARGEST SAILBOAT RACING PROGRAMS IN THE UNITED STATES. OUR LAKE MINNETONKA RACING PROGRAMS INCLUDE OVER 65 KEEL BOAT RACES EACH SEASON, CONDUCTED PRIMARILY IN 22-25' KEELBOATS, WITH PARTICIPATION OF UP TO 130 BOATS FOR EVENING RACES. THE WAYZATA YACHT CLUB ALSO SPONSORS RACING IN THE APOSTLE ISLANDS OF LAKE SUPERIOR VIA OUR APOSTLE ISLANDS STATION (AIS) IN BAYFIELD, WI. THIS BIG BOAT SCHEDULE INCLUDES BOTH BUOY RACING AND OFF-SHORE SAILING WITH BOATS THAT COMPETE THROUGHOUT THE GREAT LAKES.
- SEMINARS ARE PRESENTED FOR ADULT AND YOUTH SAILORS TO MAKE AVAILABLE CONTINUED SAILING EDUCATION AND EXPERIENCES.
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 | 990 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
- 23-7120748
- Tax-exempt status
- 501(c)(7): Social or recreational club
- Donations deductible
- No
- Exempt since
- 1971
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,697,365
- Income (IRS master file)
- $876,491
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $876,491 | $794,808 | $1,697,365 | XML |
| 990 | December 2024 | $864,170 | $841,540 | $1,611,661 | XML |
| 990 | December 2023 | $682,617 | $708,701 | $1,591,639 | XML |
| 990 | December 2022 | $711,289 | $648,723 | $1,477,276 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 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 23-7120748).
Questions about WAYZATA YACHT CLUB
- What is the EIN of WAYZATA YACHT CLUB?
- The employer identification number (EIN) of WAYZATA YACHT CLUB is 23-7120748.
- Is WAYZATA YACHT CLUB tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(7) since 1971.
- Are donations to WAYZATA YACHT CLUB tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does WAYZATA 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 WAYZATA YACHT CLUB due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WAYZATA YACHT CLUB last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of WAYZATA YACHT CLUB?
- The 990 for the year ended December 31, 2025 names CHAD OLNESS.
- Who are the officers and directors of WAYZATA YACHT CLUB?
- The 990 for the year ended December 31, 2025 lists 16 people; 0 received compensation from the organization.
- How much revenue does WAYZATA YACHT CLUB have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $876,491, expenses of $794,808 and total assets of $1,697,365 at year end.
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