Sarasota Sailing Squadron Inc
- Assets
- $2.2m
- Revenue
- $807.8k
- Investments
- $0.0
- Employees
- 11
- Location
- Sarasota, FL
- Founding
- 11/1979
- Data as of
- 12/2022
- EIN
- 59-1943529
Organization Overview
Sarasota Sailing Squadron Inc is located in Sarasota, FL. The organization was established in 1979. 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 12/2022, Sarasota Sailing Squadron Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sarasota Sailing Squadron Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Sarasota Sailing Squadron Inc generated $807.8k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $728.8k during the year ending 12/2022. While expenses have increased by 8.0% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE CLUB FACILITIES, SAILING INSTRUCTION, BOAT STORAGE, LAUNCH ACCESS AND RAMPS/HOISTS FOR APPROXIMATELY 747 FAMILY MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CLUB SERVICES, BOAT STORAGE AND RAMP ACCESS FOR APPROXIMATELY 721 FAMILY MEMBERSHIPS.
HOSTED 7 SCHEDULED REGATTAS WITH 375 PARTICIPANTS AND 14 INVITATIONALS WITH 1325 SAILORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Judy Hodgson Commodore/p | OfficerTrustee | 5 | $0 |
Brad West Vice Commodo | OfficerTrustee | 5 | $0 |
Ingrid Summers Rear Commodo | OfficerTrustee | 5 | $0 |
Rosemary Mcmullen Secretary | OfficerTrustee | 5 | $0 |
Mark Fishman Treasurer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $223,196 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $76,462 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,883 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $308,541 |
| Total Program Service Revenue | $501,877 |
| Investment income | $995 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$9,365 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,342 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $807,750 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,310 |
| 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 | $261,892 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $20,447 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,147 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,300 |
| Advertising and promotion | $1,479 |
| Office expenses | $7,568 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $121,920 |
| Insurance | $86,926 |
| All other expenses | $14,650 |
| Total functional expenses | $728,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165,648 |
| Savings and temporary cash investments | $177,075 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | -$815 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,957 |
| Prepaid expenses and deferred charges | $27,960 |
| Net Land, buildings, and equipment | $1,769,351 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $28,828 |
| Total assets | $2,175,004 |
| Accounts payable and accrued expenses | $212 |
| 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 | $34,803 |
| Other liabilities | $10,662 |
| Total liabilities | $45,677 |
| 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 | $2,129,327 |
| Total liabilities and net assets/fund balances | $2,175,004 |