Young American Sailing Academy Inc
- Assets
- $157.3k
- Revenue
- $34.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Rye, NY
- Founding
- 10/2018
- Data as of
- 12/2022
- EIN
- 82-3186776
Organization Overview
Young American Sailing Academy Inc is located in Rye, NY. The organization was established in 2018. 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. Young American Sailing Academy 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 12/2022, Young American Sailing Academy Inc generated $34.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (15.9%) each year. All expenses for the organization totaled $61.4k during the year ending 12/2022. 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
THE ORGANIZATION'S MISSION IS TO FOSTER NATIONAL OR INTERNATIONAL AMATEUR SPORTS COMPETITION BY PROVIDING AN OFFSHORE SAILING ACADEMY TO FOSTER A NEW GENERATION OF US BASED OFFSHORE SAILORS, BOTH MEN AND WOMEN, THE ORGANIZATION WILL PROMOTE PARTICIPATION IN BOTH NATIONAL AND INTERNAL SAILING EVENTS, AND QUALIFIES UNDER IRC SECTION 501(C)(3), FOSTERING NATIONAL OR INTERNATIONAL AMATEUR SPORTS COMPETITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEVEL 100 - JUNIORS ARE GIVEN THE "KEYS AND THEIR INDEPENDENCE, SUPPORTED BY FOCUSED ADULT COACHING. THIS LEVEL IS PRIMARILY FOCUSED ON HIGH SCHOOL AGED SAILORS INTERESTED IN DEVELOPING THEIR BIG BOAT AND OFFSHORE SKILLS. THESE SAILORS GAIN SEA MILES AND PRACTICE SKILLS WHILE COMPETING IN INSHORE AND COASTAL RACES FROM EARLY MAY TO LATE SEPTEMBER. THE SAILORS IN THIS PROGRAM HAVE ACCESSED TO THE J/105 YOUNG AMERICAN TO TRAIN AND COMPETE.
THE ORGANIZATION HAS TWO PROGRAMS: LEVEL 100 - JUNIORS ARE GIVEN THE "KEYS AND THEIR INDEPENDENCE, SUPPORTED BY FOCUSED ADULT COACHING. THIS LEVEL IS PRIMARILY FOCUSED ON HIGH SCHOOL AGED SAILORS INTERESTED IN DEVELOPING THEIR BIG BOAT AND OFFSHORE SKILLS. THESE SAILORS GAIN SEA MILES AND PRACTICE SKILLS WHILE COMPETING IN INSHORE AND COASTAL RACES FROM EARLY MAY TO LATE SEPTEMBER. THE SAILORS IN THIS PROGRAM HAVE ACCESSED TO THE J/105 YOUNG AMERICAN TO TRAIN AND COMPETE. LEVEL 200- IS DESIGNED PRIMARILY FOR EXPERIENCED COLLEGE AGED SAILORS WITH THE DESIRE TO EXPAND THEIR OCEAN SAILING SKILLS. LEVEL 200 IS CAMPAIGN BASED I.E. WE BUILD A TEAM AROUND A BOAT AND A SPECIFIC RACE OR SERIES OF RACES. SOME CAMPAIGNS SUCH AS NEWPORT BERMUDA RACE WILL REQUIRE A HIGH LEVEL OF TIME COMMITMENT AND INTENSITY. EACH LEVEL 200 CAMPAIGN WILL BE MADE UP FROM YASA SAILING TEAM MEMBERS ON AN APPLICATION SELECTION BASIS.
LEVEL 200- IS DESIGNED PRIMARILY FOR EXPERIENCED COLLEGE AGED SAILORS WITH THE DESIRE TO EXPAND THEIR OCEAN SAILING SKILLS. LEVEL 200 IS CAMPAIGN BASED I.E. WE BUILD A TEAM AROUND A BOAT AND A SPECIFIC RACE OR SERIES OF RACES. SOME CAMPAIGNS SUCH AS NEWPORT BERMUDA RACE WILL REQUIRE A HIGH LEVEL OF TIME COMMITMENT AND INTENSITY. EACH LEVEL 200 CAMPAIGN WILL BE MADE UP FROM YASA SAILING TEAM MEMBERS ON AN APPLICATION SELECTION BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Becker President/director | Officer | 5 | $0 |
Joseph Cooper Secretary/director | Officer | 5 | $0 |
Sharon Bernd Treasurer/director | Officer | 5 | $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 | $40,219 |
| Noncash contributions included in lines 1a–1f | $250 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,219 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,417 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,802 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,793 |
| Advertising and promotion | $0 |
| Office expenses | $464 |
| Information technology | $755 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,008 |
| 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 | $15,606 |
| Insurance | $10,620 |
| All other expenses | $6,914 |
| Total functional expenses | $61,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,037 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $140,293 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $157,330 |
| 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 | $7,500 |
| Total liabilities | $7,500 |
| Net assets without donor restrictions | $149,830 |
| 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 | $157,330 |