Sail America Inc
- Assets
- $142.4k
- Revenue
- $89.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Warren, RI
- Founding
- 03/1993
- Data as of
- 06/2021
- EIN
- 05-0466395
Organization Overview
Sail America Inc is located in Warren, RI. The organization was established in 1993. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sail America Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2021, Sail America Inc generated $89.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (24.5%) each year. All expenses for the organization totaled $89.7k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (25.3%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE HEALTH AND GROWTH OF THE SAILING INDUSTRY THROUGHOUT THE UNITED STATES OF AMERICA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCES AND ENDORSES FOUR MAJOR SAILING EXPOSITIONS TO PROMOTE THE GROWTH OF THE SAILING INDUSTRY.
PROMOTION TO INCREASE PARTICIPATION IN SAILING AND SALES OF RELATED PRODUCTS AND SERVICES.
PRODUCES AND ENDORSES FOUR MAJOR SAILING EXPOSITIONS TO PROMOTE THE GROWTH OF THE SAILING IDUSTRY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josie Tucci President | OfficerTrustee | 2 | $0 |
Kevin Carlan Vice Chair | OfficerTrustee | 1 | $0 |
Ted Winston Vice Chair | OfficerTrustee | 1 | $0 |
Mark Pillsbury Past Preside | OfficerTrustee | 1 | $0 |
Margriet Mitchell Vice Chair | OfficerTrustee | 1 | $0 |
Peter Trogdon Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $49,950 |
| Investment income | $1,256 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,384 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $89,325 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $72,250 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,242 |
| Office expenses | $826 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $1,035 |
| Insurance | $1,460 |
| All other expenses | $0 |
| Total functional expenses | $89,743 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,842 |
| Savings and temporary cash investments | $109,092 |
| 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 | $5,484 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $142,418 |
| Accounts payable and accrued expenses | $16,703 |
| 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 | $16,703 |
| 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 |
| Total liabilities and net assets/fund balances | $125,715 |
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