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Nonprofiteer
← THE SAILING FOUNDATION OF NEW YORK INC

Form 990 for tax year 2023

Filed by THE SAILING FOUNDATION OF NEW YORK INC.

Totals

Total revenue
$1,384,074
Total expenses
$433,237
Contributions and grants received
$1,418,146
Grants paid
$425,647
Program service revenue
$0
Investment income
$19,227
Other revenue
-$53,299
Total assets, end of year
$1,057,532
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,057,532
Program services expenses (Part IX)
$425,647
Management and general expenses
$7,590
Fundraising expenses
$0
Program service expenses (Part III)
$425,647

Program services were 98.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $900,390

  • 1f · All other contributions, gifts and grants

    $517,756

  • 3 · Investment income

    total $19,227 · excluded $19,227

  • 8a · Fundraising events: gross income

    $10,960

  • 8a · Fundraising events: contributions included on line 1c

    $900,390

  • 8b · Fundraising events: direct expenses

    $64,259

  • 8c · Net income from fundraising events

    total -$53,299 · excluded -$53,299

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $425,647 · program services $425,647

  • 11g · Fees: other

    total $7,094 · management and general $7,094

  • 24a · Other expenses: POSTAGE AND SHIPPING

    total $496 · management and general $496

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $106,695 · end of year $61,067

  • 2 · Savings and temporary cash investments

    end of year $996,465

  • 27 · Net assets without donor restrictions

    beginning of year $106,695 · end of year $796,288

  • 28 · Net assets with donor restrictions

    end of year $261,244

Mission and programs · 2023

Mission

THE FOUNDATION SUPPORTS AMATEUR SPORTS PARTICIPATION IN COMPETITIVE SAILING THROUGH CLINICS, COACHING AND OTHER EDUCATIONAL ACTIVITIES. THE FOUNDATION ALSO PROVIDES FINANCIAL ASSISTANCE TO DESERVED ATHLETES COMPETING IN REGIONAL, NATIONAL AND INTERNATIONAL COMPETITIONS. THE FOUNDATION ALSO IDENTIFIES OPPORTUNITIES FOR TRAINING AND DEVELOPMENT PROVIDED BY OTHER CHARITABLE EXEMPT ORGANIZATIONS THAT FACILITATE THE PARTICIPATION OF AMATEUR ATHLETES IN SUCH MARINE RELATED EDUCATIONAL PROGRAMS.

  • THE FOUNDATION PROVIDES FUNDING OPPORTUNITIES FOR OLYMPIC ATHLETES COMPETING IN REGINOAL , NATIONAL ANDINTERNATIONAL COMPETITIONS. GRANTS ARE MADE TO REIMBURSE THESE ATHLETES FOR EXPENSES INCURRED TRAINING FOR OLYMPIC EVENTS. THE FOUNDATION ALSO SUPPORTS OLYMPIC SAILING ATHLETES WITH GRANTS TO US SAILING'S OLYMPIC SAILING PROGRAM.

    Expenses $212,823 · Grants $212,823

  • THE FOUNDATION SUPPORTS AMATEUR SPORTS PARTICIPATION IN COMPETITIVE SAILING THROUGH CLINICS, COACHING AND OTHER EDUCATIONAL ACTIVITES. THE FOUNDATION ALSO PROVIDES FINANCIAL ASSISTANCE TO DESERVED ATHELETES COMPETING IN REGIONAL, NATIONAL AND INTERNATIONAL COMPETITIONS. THE FOUNDATION ALSO IDENTIFIES OPPORTUNTIES FOR TRAINING AND DEVELOPMENT PROVIDED BY OTHER CHARITABLE EXEMPT ORGANIZATIONS THAT FACILITATE THE PARTICIPATION OF AMATEUR ATHLETES IN SUCH MARINE RELATED EDUCTIONAL PROGRAMS.

    Expenses $212,824 · Grants $212,824

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Thomas L Stark

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • George M Isdale

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James J Cummiskey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Austin Fragomen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Hele

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • George Hinman Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dorothy M Mosko

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Arthur J Santry III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413189349304651

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