The Long Beach Sailing Foundation
- Assets
- $565.3k
- Revenue
- $385.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Long Beach, CA
- Founding
- 08/1993
- Data as of
- 12/2022
- EIN
- 33-0528597
Organization Overview
The Long Beach Sailing Foundation, operating under the name Long Beach Sailing Foundation, is located in Long Beach, CA. The organization was established in 1993. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Long Beach 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 12/2022, Long Beach Sailing Foundation generated $385.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $292.4k during the year ending 12/2022. While expenses have increased by 1.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE LONG BEACH SAILING FOUNDATION MISSION IS TO ENCOURAGE PROMOTE AND SUPPORT NATIONAL AND INTERNATIONAL AMATEUR SAILING MARITIME EDUCATION AND COMMUNITY SAILING OPPORTUNITIES. THIS IS ACCOMPLISHED BY OWNING MAINTAINING AND MANAGING A FLEET OF IDENTICAL BOATS WHICH ARE USED FOR ALL OF ITS PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
USING THE SAILBOAT FLEET AS A PLATFORM TO PROVIDE 1. BOATING EDUCATION AND TRAINING WITH PARTICIPANTS EXCEEDING 100 ANNUALLY. 2. TEAM BUILDING PROGRAMS FOR EDUCATIONAL AND CORPORATE PARTICIPANTS. 3. MIDDLE SCHOOL LEVEL STEM PROGRAM BASED US SAILING REACH CURRICULUM.
PROVIDE A SAILBOAT FLEET FOR ORGANIZED NATIONAL AND INTERNATIONAL SAILING EVENTS OPERATED BY LOCAL YACHT CLUBS AND SAILING ASSOCIATIONS TO INCLUDE CONGRESSIONAL CUP CALIFORNIA DREAMING SERIES FICKER CUP BUTLER CUP LONG BEACH RACE WEEK LINDA ELIAS MEMORIAL ONE DESIGN CHALLANGE AND HARBOR CUP INTERCOLLEGIATE REGATTA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kem Mattfeld Chairman Secretary | OfficerTrustee | 2 | $0 |
Mary Voigt Vice Chairman | OfficerTrustee | 10 | $0 |
Douglas Bower Treasurers | OfficerTrustee | 2 | $0 |
Mike Fratantoro Director | Trustee | 0.5 | $0 |
Carling Freeborn Cain Director | Trustee | 0.5 | $0 |
Laura Utterback Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $200 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $205,200 |
| Noncash contributions included in lines 1a–1f | $31,279 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $205,400 |
| Total Program Service Revenue | $180,650 |
| Investment income | $84 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$741 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $385,393 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $41,437 |
| 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 | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $32,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,922 |
| 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 | $1,211 |
| Information technology | $3,400 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $407 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,355 |
| Insurance | $24,107 |
| All other expenses | $0 |
| Total functional expenses | $292,424 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $400,208 |
| 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 | -$1,560 |
| Net Land, buildings, and equipment | $166,634 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $565,282 |
| Accounts payable and accrued expenses | $15,025 |
| Grants payable | $0 |
| Deferred revenue | -$200 |
| 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 | $14,825 |
| Net assets without donor restrictions | $535,409 |
| Net assets with donor restrictions | $15,048 |
| 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 | $565,282 |