Southport Junior Yacht Club Sailing Foundation
- Assets
- $359.7k
- Revenue
- $42.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Southport, ME
- Founding
- 02/1998
- Data as of
- 12/2020
- EIN
- 01-0513496
Organization Overview
Southport Junior Yacht Club Sailing Foundation is located in Southport, ME. The organization was established in 1998. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southport Junior Yacht Club Sailing Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Southport Junior Yacht Club Sailing Foundation generated $42.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (18.6%) each year. All expenses for the organization totaled $70.3k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE AREA YOUTH WITH QUALITY SAILING AND BOATING INSTRUCTION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION NORMALLY OPERATES INSTRUCTIONAL SAILING AND BOATING PROGRAMS, FROM NOVICE TO ADVANCED, FOR AREA YOUTH DURING THE SUMMER MONTHS. USUALLY THERE ARE OVER 800 PARTICIPANTS (OVER 200 SEPARATE STUDENTS) ENROLLED IN THE EIGHT WEEK PROGRAM. A SIGNIFICANT AMOUNT OF SCHOLARSHIPS (FREE OR REDUCED PROGRAM FEES) ARE AWARDED EACH YEAR. IN 2020 THERE WERE NO PROGRAMS CONDUCTED DUE TO THE COVID-19 PANDEMIC AND THE STATE OF MAINE QUARANTINING AND SOCIAL DISTANCING REQUIREMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne Grimes Rand President | OfficerTrustee | 1 | $0 |
David Mcwhan Treasurer & Secretary | OfficerTrustee | 1 | $0 |
Susan Killian Recording Secretary | OfficerTrustee | 1 | $0 |
Chip Baker Director | Trustee | 1 | $0 |
Geoff Chatterton Director | Trustee | 1 | $0 |
Pete Smith Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $30,681 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,681 |
| Total Program Service Revenue | $0 |
| Investment income | $9,645 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,536 |
| Net Income from Fundraising Events | $145 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,007 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,300 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $811 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $49,490 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,616 |
| All other expenses | $85 |
| Total functional expenses | $70,302 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40 |
| Savings and temporary cash investments | $85,755 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $105,254 |
| Investments—publicly traded securities | $168,665 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $359,714 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $359,714 |
| Total liabilities and net assets/fund balances | $359,714 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Southport Junior Yacht Club Sailing Foundation has recieved totaling $21,000.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $10,500 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $10,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Abenaqui Country Club Inc Rye Beach, NH | $11,569,362 | $5,766,433 |
Concord Country Club Inc Concord, NH | $6,058,459 | $2,790,270 |
Prouts Neck Country Club Scarborough, ME | $3,246,004 | $2,096,508 |
Tarratine Club Of Dark Harbor Islesboro, ME | $2,645,678 | $2,091,747 |
Portland Yacht Club Falmouth Foreside, ME | $1,533,737 | $1,302,327 |
Boothbay Harbor Yacht Club Boothbay Harbor, ME | $2,743,334 | $1,117,959 |
Waterville Country Club Incorporated Oakland, ME | $1,463,179 | $1,286,580 |
Cumberland Club Portland, ME | $1,650,916 | $1,185,645 |
Causeway Club Inc Southwest Harbor, ME | $2,689,618 | $1,380,527 |
L S P Association Gilford, NH | $2,550,176 | $844,392 |
Dublin Lake Club Dublin, NH | $2,497,545 | $929,278 |
Harbor Club Inc Mt Desert, ME | $2,270,487 | $842,935 |