Geneva Lake Sailing School Inc
- Assets
- $4.3m
- Revenue
- $756.6k
- Investments
- $0.0
- Employees
- 26
- Location
- Fontana, WI
- Founding
- 01/1954
- Data as of
- 12/2021
- EIN
- 39-1016242
Organization Overview
Geneva Lake Sailing School Inc is located in Fontana, WI. The organization was established in 1954. As of 12/2021, Geneva Lake Sailing School Inc employed 26 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 12/2021, Geneva Lake Sailing School Inc generated $756.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $597.4k during the year ending 12/2021. 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
2021
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 |
|---|---|---|---|
Marek Valasek Executive Director | Officer | 40 | $103,960 |
Katie Lynch Vice Resident | OfficerTrustee | 2 | $0 |
Tom Larimer Treasurer | OfficerTrustee | 3 | $0 |
Peter Strothman President | OfficerTrustee | 3 | $0 |
Joshua Lacroix Secretary | OfficerTrustee | 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 | $207,490 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $207,490 |
| Total Program Service Revenue | $416,038 |
| Investment income | $45 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $756,637 |
| 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. | $103,960 |
| Compensation of current officers, directors, key employees. | $10,396 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $126,177 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,373 |
| Payroll taxes | $18,521 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $469 |
| Fees for services: Accounting | $7,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,908 |
| Office expenses | $4,124 |
| Information technology | $1,015 |
| Royalties | $0 |
| Occupancy | $42,319 |
| Travel | $25,361 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,550 |
| Interest | $2 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $126,338 |
| Insurance | $30,960 |
| All other expenses | $7,136 |
| Total functional expenses | $597,420 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $521,315 |
| Savings and temporary cash investments | $151,020 |
| 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 | $2,902,223 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $705,012 |
| Total assets | $4,279,820 |
| 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 | $31,334 |
| Total liabilities | $733,648 |
| Net assets without donor restrictions | $3,395,152 |
| Net assets with donor restrictions | $151,020 |
| 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 | $4,279,820 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Geneva Lake Sailing School Inc has recieved totaling $12,500.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $7,000 |
The Simms Family Foundation Walworth, WI PURPOSE: CHARITABLE | $2,500 |
Shodeen Family Foundation Geneva, IL PURPOSE: PLEDGE (#3/5) | $1,000 |
Milton R Brown Family Foundation Lake Geneva, WI PURPOSE: CHARITABLE | $1,000 |
Otzen Family Foundation Inc Lake Geneva, WI PURPOSE: PUBLIC CHARITY GIFT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Road Runners Club Of America St Paul, MN | $4,688,484 | $3,965,282 |
Northshore Gymnastic Assn Maple Plain, MN | $1,016,234 | $1,756,465 |
Hudson Hockey Association Inc Hudson, WI | $5,018,556 | $3,479,772 |
Chicago Area Runners Assoc Chicago, IL | $331,756 | $988,170 |
Geneva Lake Sailing School Inc Fontana, WI | $4,279,820 | $756,637 |
Illinois Kids Wrestling Federation Country Club Hills, IL | $584,317 | $797,937 |
Madison Turners Inc Madison, WI | $1,061,436 | $559,690 |
Jesse White Tumbling Team Inc Chicago, IL | $209,874 | $410,599 |
Dubuque County Hockey Association Dubuque, IA | $95,811 | $363,416 |
Judd Goldman Adaptive Sailing Foundation Chicago, IL | $2,803,696 | $575,119 |
Sterling Track Club Inc Sterling, IL | $87,248 | $275,000 |
Lancer Youth Hockey Association La Crescent, MN | $533,804 | $204,979 |