Laser Class Association Inc

Organization Overview

Laser Class Association Inc, operating under the name International Laser Class Association, is located in Austin, TX. The organization was established in 2015. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Laser Class Association 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, International Laser Class Association generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 8.5% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO FOSTER NATIONAL AND INTERNATIONAL AMATEUR ATHLETIC COMPETITION IN THE SPORT OF SAILING LASER CLASS SAILBOATS INCLUDING CONDUCTING NATIONAL AND INTERNATIONAL SPORTS COMPETITIONS FOR OLYMPIC ATHLETES AND ATHLETES SEEKING TO QUALIFY FOR THE OLYMPIC GAMES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ORGANIZATION AND MANAGEMENT OF SAILING COMPETITIONS -- SCHEDULED, ORGANIZED AND MANAGED 3 WORLD CHAMPIONSHIP SAILING COMPETITIONS SERVING OVER 425 ATHLETES FROM OVER 110 COUNTRIES. COMPETITIONS INCLUDED OLYMPIC QUALIFICATION EVENTS FOR MEN AND WOMEN AND THREE AGE SPECIFIC EVENTS (YOUTH AND MASTERS). PROVIDED EQUITABLE ENTRY PROCESS SERVICES UTILIZING CUSTOM BUILT WEB APPLICATION TO ASSURE EQUAL ACCESS TO EVENTS FOR ALL COUNTRIES IN ACCORDANCE WITH THE OLYMPIC CHARTER. ARRANGED OVER 80 VOLUNTEER RACE OFFICIALS, INTERNATIONAL JUDGES AND MEASURERS TO SUPPORT EVENTS. PROVIDED ON SITE SUPPORT AND OVERSAW THE CONDUCT OF ALL RACING AND EQUIPMENT INSPECTION.


EQUIPMENT CERTIFICATION -- ASSURED THE PRINCIPLES OF EQUALITY AND FAIR PLAY THROUGH THE CERTIFICATION OF SAILING EQUIPMENT TO BE USED IN COMPETITION. CARRIED OUT INSPECTIONS AND AUDITS OF ALL EQUIPMENT MANUFACTURERS TO ENSURE COMPLIANCE WITH RULES AND BUILDING SPECIFICATIONS. CARRIED OUT EQUIPMENT INSPECTIONS ON SITE AT EVENTS TO ASSURE ALL EQUIPMENT MEETS RULES AND MANUFACTURING REQUIREMENTS. OVERSAW AND MANAGED UPDATES AND CHANGE REGISTER FOR THE TECHNICAL BUILDING SPECIFICATIONS DOCUMENTS. TRAINED AND CERTIFIED 6 NEW VOLUNTEER MEASURERS AND EQUIPMENT INSPECTORS FOR USE IN FUTURE EVENTS.


MEDIA AN PUBLICATIONS -- FACILITATED COMMUNICATION WITH ATHLETES AROUND THE WORLD BY PUBLISHING A NEWS AND INFORMATION ON WEBSITE REACHING OVER 500,000 PEOPLE WORLDWIDE. HANDLED MEDIA AND PRESS COVERAGE FOR SAILING COMPETITIONS FOR 2019 WORLD CHAMPIONSHIPS. MANAGED AND UPDATED SOCIAL MEDIA AND WEBSITE WITH CURRENT NEWS AND INFORMATION ABOUT ILCA SAILING EVENTS. PUBLISHED ANNUAL HANDBOOK WITH RULES AND REGULATIONS TO INFORM ATHLETES OF COMPLIANCE REQUIREMENTS AND ASSURE FAIR AND EQUAL COMPETITION AT EVENTS WORLDWIDE.


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Board, Officers & Key Employees

Name (title)Compensation
Eric Faust
Executive Secretary
$0
Tracy Usher
President
$0
Hugh Leicester
Vice President
$0
Nick Page
Treasurer
$0
Jean-Luc Michon
World Council Member
$0
Ken Hurling
World Council Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$123,681
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$123,681
Total Program Service Revenue$1,455,465
Investment income $1,037
Tax Exempt Bond Proceeds $0
Royalties $323,253
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 -$60,875
Miscellaneous Revenue$0
Total Revenue $1,842,561

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