Wayzata Sailing Foundation
- Assets
- $4.2m
- Revenue
- $607.6k
- Investments
- $0.0
- Employees
- 29
- Location
- Wayzata, MN
- Founding
- 08/2001
- Data as of
- 12/2022
- EIN
- 41-1986402
Organization Overview
Wayzata Sailing Foundation, operating under the name Wayzata Community Sailing Center, is located in Wayzata, MN. The organization was established in 2001. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Wayzata Community Sailing Center employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wayzata Community 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 12/2022, Wayzata Community Sailing Center generated $607.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $690.3k during the year ending 12/2022. While expenses have increased by 10.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE WAYZATA SAILING FOUNDATION'S PURPOSE IS TO PROMOTE SAILING FOR EVERYONE BY PROVIDING ACCESS TO FACILITIES, AND SAILING INSTRUCTIONS TO PEOPLE OF ALL BACKGROUNDS AND SKILL LEVELS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUMMER CAMPS WERE HELD FROM JUNE THROUGH AUGUST FOR CHILDREN AGES 5 TO 16. THE CAMPS ALLOW CHILDREN TO LEARN AND FINE TUNE THEIR SKILLS, AS WELL AS PROMOTE FUN, SAFETY, AND RESPONSIBILITY ON THE WATER. IN ADDITION, THE ORGANIZATION HOSTED A SAILING SERIES WHERE TEAMS COMPETED AT THE VARIOUS METRO LAKES THROUGHOUT THE SUMMER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rob Hunt President | OfficerTrustee | 5 | $0 |
Oliver Frost Vice President | OfficerTrustee | 5 | $0 |
Scott Rosenbaum Treasurer | OfficerTrustee | 5 | $0 |
Robb Harriss Secretary | OfficerTrustee | 5 | $0 |
Ernest Brody Director | Trustee | 5 | $0 |
Kristyn Mullin Director | Trustee | 5 | $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 | $93,947 |
| Noncash contributions included in lines 1a–1f | $19,344 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $93,947 |
| Total Program Service Revenue | $438,693 |
| Investment income | $3,592 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,776 |
| Net Income from Fundraising Events | $44,169 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $607,591 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $113,047 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $71,800 |
| Compensation of current officers, directors, key employees. | $35,900 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $146,898 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,728 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,798 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,356 |
| Office expenses | $12,772 |
| Information technology | $0 |
| 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 | $3,745 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $94,215 |
| Insurance | $38,952 |
| All other expenses | $15,803 |
| Total functional expenses | $690,318 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $248,207 |
| 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 | $3,847,309 |
| Investments—publicly traded securities | $142,861 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,238,377 |
| Accounts payable and accrued expenses | $86,625 |
| 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 | $250 |
| Total liabilities | $86,875 |
| 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 | $4,151,502 |
| Total liabilities and net assets/fund balances | $4,238,377 |