Clagett Sailing
- Assets
- $694.0k
- Revenue
- $299.5k
- Investments
- $407.8k
- Employees
- 1
- Location
- Portsmouth, RI
- Founding
- 03/2010
- Data as of
- 12/2023
- EIN
- 27-1789166
Organization Overview
Clagett Sailing is located in Portsmouth, RI. The organization was established in 2010. According to its NTEE Classification (N70) the organization is classified as: Amateur Sports Competitions, 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. Clagett Sailing 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 12/2023, Clagett Sailing generated $299.5k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $276.3k during the year ending 12/2023. While expenses have increased by 6.1% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER NATIONAL AND INTERNATIONAL AMATEUR COMPETITIVE SAILING OPPORTUNITIES FOR SAILORS WITH PHYSICAL DISABILITIES AND HELP THEM ACHIEVE THEIR INDIVIDUAL GOALS IN SAILING THROUGH WORLD-CLASS COACHING AND COMPETITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLAGETT SAILINGS CELEBRATED ITS 21TH ANNIVERSARY THIS YEAR. IN 2023, CLAGETT SAILING PRESENTED ITS FLEET RACING CLINIC AND REGATTA IN NEWPORT, RI, A MATCH RACING CLINIC AND REGATTA IN OYSTER BAY, NEW YORK, AND A FLEET RACING REGATTA IN OXFORD, MARYLAND. OUR PROGRAMS HAVE GROWN TO ALSO INCLUDE THE CLAGETT BOAT GRANT PROGRAM TO MAKE BOATS AVAILABLE TO OUR SAILORS, AND TEAM CLAGETT TO ASSIST OUR SAILORS IN ATTENDING OTHER EVENTS, BOTH FOR SAILORS LIVING WITH DISABILITIES AND OPEN REGATTAS. WE WERE ABLE TO ASSIST MEMBERS OF OUR TEAM CLAGETT TO ATTEND THE 2023 2.4MR WORLD CHAMPIONSHIP HELD IN TAMPA FLORIDA AND WE WILL HELP IN SENDING SOME OF THE TEAM TO THE ALLIANZ SAILING WORLD CHAMPIONSHIP IN THE HAGUE, NETHERLANDS IN 2023. THE LARGEST FLEET RACING IN 2023 WAS THE 2.4MR CLASS WITH 21 BOATS AND THEY HAD 8 RACES. IN THE DOUBLE HANDED MARTIN 16 CLASS THERE WERE 5 ENTRIES WITH 8 RACES. WE HAD 3 OUTSTANDING COACHES TO TEACH OUR 31 SAILORS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Grace Elizabeth Adam Director | Trustee | 4 | $0 |
Carol Barrow Director | Trustee | 2 | $0 |
Roberta M Benjamin Treasurer | OfficerTrustee | 10 | $0 |
William Cassidy Director | Trustee | 0.38 | $0 |
Julia Dorsett Director | Trustee | 1 | $0 |
Sarah Everhart-Skeels Vice Preside | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $13,950 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $223,468 |
| Noncash contributions included in lines 1a–1f | $22,079 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $237,418 |
| Total Program Service Revenue | $6,300 |
| Investment income | $11,682 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,706 |
| Net Income from Fundraising Events | $46,372 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $299,452 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $21,458 |
| 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 | $56,416 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,121 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $500 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,397 |
| Fees for services: Other | $123,196 |
| Advertising and promotion | $3,686 |
| Office expenses | $156 |
| Information technology | $2,413 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $406 |
| 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 | $27,415 |
| Insurance | $29,108 |
| All other expenses | $0 |
| Total functional expenses | $276,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,197 |
| Savings and temporary cash investments | $0 |
| 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 | $82,048 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $407,787 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $694,032 |
| Accounts payable and accrued expenses | $253 |
| 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 | $253 |
| 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 | $693,779 |
| Total liabilities and net assets/fund balances | $694,032 |