United States Sailing Foundaton
- Assets
- $13.6m
- Revenue
- $8.9m
- Investments
- $1.3m
- Employees
- 0
- Location
- Bristol, RI
- Founding
- 06/1986
- Data as of
- 12/2022
- EIN
- 22-2667411
Organization Overview
United States Sailing Foundaton is located in Bristol, RI. The organization was established in 1986. According to its NTEE Classification (N11) the organization is classified as: Single Organization Support, 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. United States Sailing Foundaton 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 12/2022, United States Sailing Foundaton generated $8.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 51.4% each year . All expenses for the organization totaled $8.5m during the year ending 12/2022. While expenses have increased by 60.4% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO DIRECTLY SUPPORT A RELATED NON-PROFIT ORGANIZATION, THE UNITED STATES SAILING ASSOCIATION, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SUPPORT FOR PROGRAMS DEVELOPED BY ITS RELATED ORGANIZATION, THE UNITED STATES SAILING ASSOCIATION, INC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Ostfield Chief Executive Officer | OfficerTrustee | 3 | $0 |
William Ruh President/director | OfficerTrustee | 5 | $0 |
Brian Keane Vice President/director | OfficerTrustee | 1 | $0 |
John Lovell Treasurer/director | OfficerTrustee | 1 | $0 |
Glenn Darden Secretary/director | OfficerTrustee | 1 | $0 |
| 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 | $8,794,715 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,794,715 |
| Total Program Service Revenue | $0 |
| Investment income | $35,726 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $79,410 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,909,851 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $51,300 |
| 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 | $556,743 |
| Pension plan accruals and contributions | $23,205 |
| Other employee benefits | $67,633 |
| Payroll taxes | $39,838 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $385 |
| Fees for services: Accounting | $3,043 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,045 |
| Fees for services: Other | $54,987 |
| Advertising and promotion | $53,905 |
| Office expenses | $69,945 |
| Information technology | $32,071 |
| Royalties | $0 |
| Occupancy | $10,644 |
| Travel | $25,952 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,701 |
| Interest | $35 |
| Payments to affiliates | $6,163,412 |
| Depreciation, depletion, and amortization | $5,537 |
| Insurance | $10,828 |
| All other expenses | $1,270,358 |
| Total functional expenses | $8,457,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,886,385 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $7,374,384 |
| Accounts receivable, net | $3,000,402 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,287,603 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,262 |
| Total assets | $13,551,036 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $6,163,412 |
| Deferred revenue | $7,500 |
| 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 | $6,170,912 |
| Net assets without donor restrictions | -$2,400,113 |
| Net assets with donor restrictions | $9,780,237 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $13,551,036 |
Grants Awarded
Over the last fiscal year, United States Sailing Foundaton has awarded $1,018,561 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED STATES ASSOCIATION PURPOSE: SUPPORT | $1,017,611 |
CHAMBERLAIN FAMILY FOUNDATION PURPOSE: USJRWS CHAMPIONSHIP | $950 |