S A L T S Sail And Life Training Society
- Assets
- $7.7m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Founding
- 05/1994
- Data as of
- 12/2021
- EIN
- 98-0136937
Organization Overview
S A L T S Sail And Life Training Society, operating under the name Salts, is located in null. The organization was established in 1994. According to its NTEE Classification (O51) the organization is classified as: Youth Community Service Clubs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salts 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, Salts generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $2.4m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SALTS OPERATES TWO TALL SHIPS AND TEACHES 1700 YOUNG PEOPLE (AGES 13-25) TO SAIL THEM EACH YEAR. THE PROGRAM HELPS YOUNG PEOPLE LEARN TO LIVE IN A COMMUNITY, DEVELOP STRONG WORK ETHIC, UNDERSTAND TEAMWORK, GROW SPIRITUALLY, LEARN TO RESOLVE PROBLEMS AND CONFLICTS AND UNDERSTAND OTHER CULTURES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALTS OPERATES TWO TALL SHIPS AND TEACHES 1700 YOUNG PEOPLE (AGES 13-25) TO SAIL THEM EACH YEAR. IN THE SPRING AND FALL, SCHOOL GROUPS PARTICIPATE IN FIVE-DAY VOYAGES TO THE GULF ISLANDS OF SOUTHERN BC. IN THE SUMMER, TEN-DAY VOYAGES COLLECTIVELY CIRCUMNAVIGATE VANCOUVER ISLAND. YOUNG "TRAINEES" ARE INVOLVED IN EVERY ASPECT OF SAILING THE SHIP, INCLUDING NAVIGATION, SAIL HANDLING, PILOTAGE, BOW WATCH, CLEAN-UP ETC. THEY RECEIVE FORMAL SAIL TRAINING INSTRUCTION AND COMPLETE EXAMS. THEY PARTICIPATE IN GROUP DISCUSSIONS ABOUT LIFE ISSUES. THE PROGRAM HELPS YOUNG PEOPLE LEARN TO LIVE IN COMMUNITY, DEVELOP A STRONG WORK ETHIC, UNDERSTAND TEAMWORK, GROW SPIRITUALLY, LEARN TO RESOLVE PROBLEMS AND CONFLICTS, AND UNDERSTAND OTHER CULTURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Loren Hagerty Executive Director | 37.5 | $110,219 | |
Derek Rand Chairperson And Treasurer | OfficerTrustee | 4 | $0 |
Ryan Smith Vice-Chairperson | OfficerTrustee | 3 | $0 |
Jason Nassichuk Director | Trustee | 2 | $0 |
Jim Huzzey Director | Trustee | 2 | $0 |
Daniel Cumming Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,350 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,488,914 |
| Noncash contributions included in lines 1a–1f | $570,307 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,493,264 |
| Total Program Service Revenue | $63,135 |
| Investment income | $20,579 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| 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 | $734 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,580,966 |
| 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 | $955,186 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $75,483 |
| Payroll taxes | $86,921 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,428 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $33,695 |
| Advertising and promotion | $26,463 |
| Office expenses | $56,899 |
| Information technology | $30,685 |
| Royalties | $0 |
| Occupancy | $187,217 |
| Travel | $2,684 |
| 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 | $79,952 |
| Insurance | $83,193 |
| All other expenses | $436,111 |
| Total functional expenses | $2,423,333 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $291,091 |
| Savings and temporary cash investments | $4,105,797 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $121,691 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $251,893 |
| Prepaid expenses and deferred charges | $187,117 |
| Net Land, buildings, and equipment | $159,360 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,575,872 |
| Total assets | $7,692,821 |
| Accounts payable and accrued expenses | $114,231 |
| Grants payable | $0 |
| Deferred revenue | $773,280 |
| 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 | $40,000 |
| Other liabilities | $0 |
| Total liabilities | $927,511 |
| 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 | $6,765,310 |
| Total liabilities and net assets/fund balances | $7,692,821 |
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