Wet Pants Sailing Association Inc
- Assets
- $88.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Smithtown, NY
- Founding
- 02/2014
- Data as of
- 12/2023
- EIN
- 45-4864364
Organization Overview
Wet Pants Sailing Association Inc is located in Smithtown, NY. The organization was established in 2014. 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. Wet Pants Sailing Association Inc 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, Wet Pants Sailing Association Inc generated $98.9k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $105.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 9 years. 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
DURING 2017 THE ASSOCIATION CONDUCTED YACHT RACING FOR ITS MEMBERS ON GREAT SOUTH BAY ON TUESDAY, THURSDAYS AND FRIDAY EVENINGS DURING THE SUMMER. IT ALSO HOSTED A REGATTA FOR FLYING SCOT ONE DESIGN SAILBOATS AND OTHER ONE DESIGN CLASSES ON A SATURDAY IN JULY. SAILING INSRUCTORS WERE HIRED TO TEACH 65 YOUNG CHILDREN HOW TO SAIL AND RACE AND CONDUCT THEMSELVES ON THE WATER. INFORMAL RACES AND CRUSISES WERE ALSO CONDUCTED ON THE WEEKEND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Costa Sr Commodoredirector | 10 | $0 | |
Kim Mackin Vice Commodoredirector | 10 | $0 | |
Jennifer Mcmackin Secretarydirector | 2 | $0 | |
Bill Lembeck Treasurerdirector | 5 | $0 | |
Robert Campbell Financial Secretarydirector | 3 | $0 | |
Mike Noon Rear Commodoredirector | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $70,440 |
| Membership dues | $22,507 |
| Investment income | $6 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $5,940 |
| Total Revenue | $98,925 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $1,155 |
| Salaries, other compensation, and employee benefits | $34,770 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $17,949 |
| Printing, publications, postage, and shipping | $342 |
| Other expenses | $51,095 |
| Total expenses | $105,430 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $55,987 |
| Other assets | $0 |
| Total assets | $88,805 |
| Total liabilities | $0 |
| Net assets or fund balances | $88,805 |