Sail Newport Inc

Organization Overview

Sail Newport Inc is located in Newport, RI. The organization was established in 1987. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 10/2023, Sail Newport Inc employed 82 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sail Newport Inc 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 10/2023, Sail Newport Inc generated $5.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $5.1m during the year ending 10/2023. While expenses have increased by 9.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

ENCOURAGING AND PROMOTING SAILING EVENTS AND EDUCATIONAL PROGRAMS

Describe the Organization's Program Activity:

OPERATION OF A PUBLIC SAILING FACILITY IN NEWPORT, RHODE ISLAND.


OTHER INSTRUCTIONAL AND EDUCATIONAL PROGRAMS.


PROMOTION AND COORDINATING OF NATIONAL AND INTERNATIONAL YACHTING EVENTS.


PROMOTION AND FUNDING OF YOUTH SAILING INSTRUCTION IN NEWPORT, RHODE ISLAND.


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Board, Officers & Key Employees

Name (title)Compensation
Susan Daly
President
$0
Don Steiner
Vice Preside
$0
Tim Grimes
Treasurer
$0
Lee Parks
Secretary
$0
Will Donaldson
Past Preside
$0
Mick Harvey
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$108,612
Fundraising events$0
Related organizations$0
Government grants $52,977
All other contributions, gifts, grants, and similar amounts not included above$1,493,263
Noncash contributions included in lines 1a–1f $52,151
Total Revenue from Contributions, Gifts, Grants & Similar$1,654,852
Total Program Service Revenue$2,956,279
Investment income $56,747
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $630,613
Net Gain/Loss on Asset Sales $71,101
Net Income from Fundraising Events $132,135
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $10,284
Miscellaneous Revenue$0
Total Revenue $5,515,517

Peer Organizations

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