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Nonprofiteer
← STORM TRYSAIL FOUNDATION

Form 990 for tax year 2024

Filed by STORM TRYSAIL FOUNDATION.

Totals

Total revenue
$382,118
Total expenses
$278,037
Contributions and grants received
$266,256
Grants paid
$47,372
Program service revenue
$103,932
Investment income
$12,572
Other revenue
-$642
Total assets, end of year
$525,930
Total liabilities, end of year
$15,000
Net assets or fund balances, end of year
$510,930
Program services expenses (Part IX)
$205,877
Management and general expenses
$72,160
Fundraising expenses
$0
Program service expenses (Part III)
$205,877

Program services were 74.0% 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.

  • 1f · All other contributions, gifts and grants

    $266,256

  • 1g · Noncash contributions included above

    $55,842

  • 2a · Program service revenue: SEMINAR REVENUE

    total $85,737 · related or exempt $85,737

  • 2b · Program service revenue: IOR REVENUE

    total $18,195 · related or exempt $18,195

  • 3 · Investment income

    total $3,572 · excluded $3,572

  • 7a · Gross sales of assets other than inventory

    securities $30,097 · other assets $24,000

  • 7b · Less cost or other basis and sales expenses

    securities $30,097 · other assets $15,000

  • 7c · Gain or loss

    securities $0 · other assets $9,000

  • 7d · Net gain or loss

    total $9,000 · excluded $9,000

  • 8a · Fundraising events: gross income

    $500

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $500 · excluded $500

  • 10a · Gross sales of inventory

    $7,740

  • 10b · Cost of goods sold

    $8,882

  • 10c · Net income from sales of inventory

    total -$1,142 · related or exempt -$1,142

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $47,372 · program services $47,372

  • 11c · Fees: accounting

    total $29,100 · management and general $29,100

  • 13 · Office expenses

    total $54,673 · program services $38,530 · management and general $16,143

  • 14 · Information technology

    total $6,645 · program services $5,960 · management and general $685

  • 16 · Occupancy

    total $2,100 · management and general $2,100

  • 22 · Depreciation, depletion and amortization

    total $5,112 · program services $5,112

  • 23 · Insurance

    total $17,878 · management and general $17,878

  • 24a · Other expenses: SAFETY AT SEA

    total $55,391 · program services $55,391

  • 24b · Other expenses: INTERCOLLEGIATE OFFSHOR

    total $44,748 · program services $44,748

  • 24c · Other expenses: OTHER

    total $10,783 · program services $8,764 · management and general $2,019

  • 24d · Other expenses: STORAGE

    total $3,980 · management and general $3,980

  • 24e · All other expenses

    total $255 · management and general $255

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $137,622 · end of year $175,401

  • 2 · Savings and temporary cash investments

    beginning of year $172,135 · end of year $240,956

  • 4 · Accounts receivable

    end of year $3,313

  • 10a · Land, buildings and equipment: cost or other basis

    $80,682

  • 10b · Land, buildings and equipment: accumulated depreciation

    $46,563

  • 10c · Land, buildings and equipment, net

    beginning of year $39,231 · end of year $34,119

  • 11 · Investments: publicly traded securities

    beginning of year $57,903 · end of year $66,621

  • 15 · Other assets

    beginning of year $20,520 · end of year $5,520

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,340 · end of year $15,000

  • 19 · Deferred revenue

    beginning of year $11,025

  • 27 · Net assets without donor restrictions

    beginning of year $395,046 · end of year $510,930

Mission and programs · 2024

Mission

THE FOUNDATION SEEKS TO EFFECT, PROMOTE AND ENHANCE THE EDUCATION OF YOUNG SAILORS IN SAFETY AT SEA, SAFE BOAT HANDLING IN ALL CONDITIONS AND SAFE BLUE WATER RACING AND PASSAGE MAKING THROUGH SEMINARS, REGATTAS, ON THE WATER TRAINING AND THROUGH GRANTS.

  • SAFETY AT SEA SEMINARS ARE COURSES FOR JUNIOR SAILORS AND ADULTS THAT TEACH THE PRINCIPLES OF SAILING IN EXTREME CONDITIONS, VESSEL MANAGEMENT, AND CREW SAFETY IN SUCH SITUATIONS, MAN OVERBOARD PROCEDURES, AND BASIC MEDICAL PROCEDURES.

    Expenses $85,029 · Revenue $85,737

  • THE FOUNDATION'S INTERCOLLEGIATE OFFSHORE REGATTA (IOR) IS AN INVITATIONAL REGATTA FOR COLLEGE SAILORS. IT IS HELD ANNUALLY BY THE STORM TRYSAIL FOUNDATION AND HOSTED AT LARCHMONT YACHT CLUB. IT BRINGS TOGETHER STORM TRYSAIL KEEL BOAT OWNERS AND COLLEGIATE SAILORS FOR AN OPPORTUNITY TO RACE TOGETHER IN A HIGHLY COMPETITIVE REGATTA. INITIALLY ESTABLISHED IN THE EARLY 1970S BY THE CORINTHIANS YC.

    Expenses $69,611 · Revenue $18,195

  • GRANTS & OTHER

    Expenses $51,237 · Grants $47,372

As filed on the 2024 return.

Listed in Part VII

  • Richard Du Moulin

    PRESIDENT / VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • John Browning

    SECRETARY / TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Lars Forsberg

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Gary Jobson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • David Askew

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Mike Toppa

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Raymond Redniss

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Andrew Weiss

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2025
IRS schema version
2024v5.1
Source object
202511349349309426

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