Geneva Lake Sailing School Inc
- Assets
- $4.4m
- Revenue
- $705.2k
- Investments
- $350.0k
- Employees
- 25
- Location
- Fontana, WI
- Founding
- 01/1954
- Data as of
- 12/2022
- EIN
- 39-1016242
Organization Overview
Geneva Lake Sailing School Inc is located in Fontana, WI. The organization was established in 1954. As of 12/2022, Geneva Lake Sailing School Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Geneva Lake Sailing School 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 12/2022, Geneva Lake Sailing School Inc generated $705.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $601.9k during the year ending 12/2022. 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 TEACH ENROLLED STUDENTS THE SPORT OF SAILING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COSTS ARE INCURRED FOR PROVIDING SAILING INSTRUCTIONS TO ENROLLED STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Strothman President | OfficerTrustee | 3 | $0 |
Katie Lynch Vice Resident | OfficerTrustee | 2 | $0 |
Tom Larimer Treasurer | OfficerTrustee | 3 | $0 |
Joshua Lacroix Secretary | OfficerTrustee | 2 | $0 |
Michael Belsley Director | Trustee | 2 | $0 |
Kevin Alcock Director | Trustee | 2 | $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 | $196,724 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $196,724 |
| Total Program Service Revenue | $441,008 |
| Investment income | $45 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,800 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $705,228 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $80,227 |
| Compensation of current officers, directors, key employees. | $8,023 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $124,450 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,688 |
| Payroll taxes | $16,763 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,710 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $858 |
| Office expenses | $7,810 |
| Information technology | $1,932 |
| Royalties | $0 |
| Occupancy | $42,138 |
| Travel | $15,621 |
| 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 | $136,478 |
| Insurance | $44,901 |
| All other expenses | $5,445 |
| Total functional expenses | $601,918 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $202,622 |
| Savings and temporary cash investments | $151,065 |
| 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 | $250 |
| Net Land, buildings, and equipment | $2,950,281 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $350,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $705,012 |
| Total assets | $4,359,230 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $702,314 |
| 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 | $7,434 |
| Total liabilities | $709,748 |
| Net assets without donor restrictions | $3,498,417 |
| Net assets with donor restrictions | $151,065 |
| 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 | $4,359,230 |