Minneapolis Sailing Center
- Assets
- $376.1k
- Revenue
- $638.5k
- Investments
- $0.0
- Employees
- 49
- Location
- Minneapolis, MN
- Founding
- 03/1992
- Data as of
- 12/2021
- EIN
- 41-1713806
Organization Overview
Minneapolis Sailing Center is located in Minneapolis, MN. The organization was established in 1992. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Minneapolis Sailing Center employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minneapolis Sailing Center 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, Minneapolis Sailing Center generated $638.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.3% each year . All expenses for the organization totaled $520.4k during the year ending 12/2021. While expenses have increased by 11.4% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF MINNEAPOLIS SAILING CENTER IS TO FOSTER AN INCLUSIVE, SUSTAINABLE COMMUNITY AND TO TEACH SAILING TO ALL. MINNEAPOLIS SAILING CENTER STRIVES TO MAKE SAILING AVAILABLE TO EVERYONE AND OFFERS A WIDE RANGE OF PROGRAMS DESIGNED TO SUPPORT SAILORS WHEREVER THEY ARE IN THEIR JOURNEY. THE GOAL IS TO REDUCE THE BARRIERS TO SAILING BY OFFERING AFFORDABLE LESSONS, SCHOLARSHIPS, OUTREACH EVENTS, AND ACCESS TO SAILBOATS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAILING CLASSES AND PROGRAMMING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ted Salzman Executive Di | Officer | 40 | $81,115 |
Thibaud Cholat Secretary | OfficerTrustee | 2 | $0 |
Larry Salzman Board Chair | OfficerTrustee | 2 | $0 |
Sharon Wang Treasurer | OfficerTrustee | 2 | $0 |
Marshall Hall Director | Trustee | 2 | $0 |
Keith Holloman 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 | $37,392 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,392 |
| Total Program Service Revenue | $591,843 |
| Investment income | $1,153 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,888 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $638,488 |
| 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. | $81,115 |
| Compensation of current officers, directors, key employees. | $4,056 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $239,802 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,570 |
| Payroll taxes | $24,550 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $55 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,227 |
| Advertising and promotion | $1,105 |
| Office expenses | $7,667 |
| Information technology | $6,494 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $21,191 |
| All other expenses | $26,896 |
| Total functional expenses | $520,430 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,156 |
| Savings and temporary cash investments | $175,290 |
| 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 | $51,020 |
| Investments—publicly traded securities | $125,605 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $376,071 |
| Accounts payable and accrued expenses | $390 |
| 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 | $390 |
| Net assets without donor restrictions | $375,681 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $376,071 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Minneapolis Sailing Center has recieved totaling $7,120.
| Awarding Organization | Amount |
|---|---|
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $7,103 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $17 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Walter Schroeder Aquatic Center Ltd Brown Deer, WI | $2,876,227 | $1,771,521 |
Rochester Swim Club Orcas Rochester, MN | $1,478,113 | $1,744,806 |
Usa Swimming Inc Minnetonka, MN | $1,086,906 | $1,178,043 |
Waukesha Express Swim Team Inc Waukesha, WI | $109,829 | $1,001,501 |
Usa Swimming Inc New London, WI | $201,918 | $903,511 |
South Metro Storm Swim Club Lakeville, MN | $230,213 | $738,939 |
Sailing Education Association Of Sheboygan Inc Sheboygan, WI | $3,043,659 | $639,193 |
Ozaukee Aquatics Inc Cedarburg, WI | $165,542 | $738,005 |
Edina Swim Club Inc Edina, MN | $440,938 | $736,378 |
Eden Prairie Foxjet Swim Team Eden Prairie, MN | $301,926 | $531,103 |
Milwaukee Community Sailing Center Inc Milwaukee, WI | $2,878,635 | $633,926 |
Minneapolis Sailing Center Minneapolis, MN | $376,071 | $638,488 |