Lake Manawa Sailing Association
- Assets
- $241.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Council Bluffs, IA
- Founding
- 04/2010
- Data as of
- 12/2023
- EIN
- 42-1343833
Organization Overview
Lake Manawa Sailing Association is located in Council Bluffs, IA. The organization was established in 2010. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Manawa Sailing Association is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Lake Manawa Sailing Association generated $95.9k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $101.9k during the year ending 12/2023. While expenses have increased by 7.4% per year over the past 5 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
SAIL BOATING RECREATIONAL SERVICES, BOAT PARKING, SAILBOAT RACES, SAILING SCHOOL, AND USE OF DOCKS--250 BENEFITED SAILING EDUCATION 70 STUDENTS SOCIAL FUNCTIONS: GATHERINGS, ETC. APPROXIMATELY 250 BENEFITED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Silence President | 2 | $0 | |
Chris Poore Director | 0.1 | $0 | |
Phil Lee Director | 0.1 | $0 | |
Pell Duvall Director | 0.1 | $0 | |
Patrick Leahy Director | 0.1 | $0 | |
Annette Leudtke Director | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $400 |
| Total Program Service Revenue | $63,490 |
| Membership dues | $31,678 |
| Investment income | $304 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $95,872 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $22,171 |
| Professional fees and other payments to independent contractors | $4,145 |
| Occupancy, rent, utilities, and maintenance | $40,735 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $34,818 |
| Total expenses | $101,869 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $35,265 |
| Other assets | $0 |
| Total assets | $241,916 |
| Total liabilities | $395 |
| Net assets or fund balances | $241,521 |