Southern Maryland Sailing Association Inc
- Assets
- $349.6k
- Revenue
- $243.5k
- Investments
- $0.0
- Employees
- 12
- Location
- Solomons, MD
- Founding
- 06/1989
- Data as of
- 12/2023
- EIN
- 52-1435822
Organization Overview
Southern Maryland Sailing Association Inc is located in Solomons, MD. The organization was established in 1989. 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 12/2023, Southern Maryland Sailing Association Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Maryland 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, Southern Maryland Sailing Association Inc generated $243.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $201.4k during the year ending 12/2023. While expenses have increased by 1.9% per year over the past 6 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SOCIAL AND RECREATION CLUB FOR SAILBOAT SAILING. ORGANIZE SAILBOAT RACING AND CRUISING ACTIVITIES; ORGANIZE SOCIAL EVENTS; PUBLISH MONTHLY NEWSLETTER AND ANNUAL YEARBOOK FOR MEMBERS; CONDUCT SAIL TRAINING DAY CAMP FOR CHILDREN; TRAIN HIGH SCHOOL/MIDDLE SCHOOL SAILING TEAM; AND TEACH ADULT SAILING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTED SUMMER SAILING CAMP AND HIGH SCHOOL RACING PROGRAM; PROVIDED SMALL BOATS FOR MEMBERS TO USE TO ENHANCE SKILLS AND ENJOY LOCAL SAILING. HIGH SCHOOL PROGRAM WAS CONDUCTED OVER TWO 8 WEEK PERIODS, SUMMER CAMP WAS CONDUCTED FOR 10 WEEKS.
ORGANIZE SAILBOAT RACING AND CRUISING ACTIVITIES; CONDUCTED OVER 25 EVENTS FOR MEMBERS. SAILBOAT RACING AND CRUISING HELPS SAILORS IMPROVE SKILLS AND ENJOY THE LOCAL SAILING VENUE.
WEEKLY AND SPECIAL EVENTS FOR MEMBERS; CONDUCTED OVER 35 SOCIAL EVENTS FOR MEMBERS ASSOCIATED WITH AND INDEPENDENT OF THE OTHER PROGRAM SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carl Kemp Director | Trustee | 2 | $0 |
Clarke Mckinney Director | Trustee | 2 | $0 |
Jimmy Yurko Director | Trustee | 2 | $0 |
Shawn Stanley Director | Trustee | 2 | $0 |
Joe Frost Director | Trustee | 2 | $0 |
Elliott Peterson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $96,784 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $711 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $97,495 |
| Total Program Service Revenue | $143,909 |
| Investment income | $47 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $716 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$231 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $243,486 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,300 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,889 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Advertising and promotion | $4,492 |
| Office expenses | $1,162 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $64,904 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $228 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,198 |
| Insurance | $15,109 |
| All other expenses | $0 |
| Total functional expenses | $201,400 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $331,178 |
| 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 | $681 |
| Net Land, buildings, and equipment | $16,399 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,000 |
| Total assets | $349,558 |
| Accounts payable and accrued expenses | $0 |
| 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 | $1,271 |
| Total liabilities | $1,271 |
| 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 | $348,287 |
| Total liabilities and net assets/fund balances | $349,558 |