Myc Youth Sailing Foundation Inc
- Assets
- $381.2k
- Revenue
- $400.4k
- Investments
- $0.0
- Employees
- 4
- Location
- Miami, FL
- Founding
- 02/1992
- Data as of
- 03/2022
- EIN
- 65-0281546
Organization Overview
Myc Youth Sailing Foundation Inc is located in Miami, FL. The organization was established in 1992. 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 03/2022, Myc Youth Sailing Foundation Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Myc Youth Sailing Foundation Inc 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 03/2022, Myc Youth Sailing Foundation Inc generated $400.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $311.7k during the year ending 03/2022. While expenses have increased by 3.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE SPORT OF SAILING WITHIN THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAILING INSTRUCTIONS OF ADULT AND YOUTH IN THE COMMUNITY
PROVIDE SUPPORT FOR SAILING RACES AND REGATTAS
PROVIDE SUPPORT FOR SAILING RACES AND REGATTAS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emily Copeland Vice Commodo | OfficerTrustee | $0 | |
Mark Ingraham Commodore | OfficerTrustee | $0 | |
Tim Mcdougall Rear Commodo | OfficerTrustee | $0 | |
Richard Hall Staff Commod | OfficerTrustee | $0 | |
John Porter Treasurer | OfficerTrustee | $0 | |
Drew Mouacdie Secretary | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,433 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,433 |
| Total Program Service Revenue | $394,469 |
| Investment income | $3,391 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$845 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $400,448 |
| 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 | $96,963 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,596 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,965 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $61,041 |
| Advertising and promotion | $1,712 |
| Office expenses | $5,224 |
| 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 | $52,627 |
| Insurance | $11,279 |
| All other expenses | $20,262 |
| Total functional expenses | $311,691 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $268,913 |
| Savings and temporary cash investments | $0 |
| 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 | $1,830 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $20,842 |
| Investments—publicly traded securities | $89,578 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $381,163 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $381,163 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $381,163 |
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Usa Swimming Inc Minneola, FL | $982,345 | $1,492,508 |
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Huntsville Swim Association Huntsville, AL | $601,008 | $1,169,266 |
Sarasota Sharks Incorporated Sarasota, FL | $1,254,329 | $1,187,905 |
Athens Bulldog Swim Club Inc Hull, GA | $405,540 | $725,242 |
Palm Beach Sailing Club Inc West Palm Beach, FL | $1,088,323 | $782,714 |
Coconut Grove Sailing Club Instructional Center Inc Miami, FL | $284,549 | $710,117 |
Sarasota Sailing Squadron Inc Sarasota, FL | $2,108,235 | $790,673 |