Sail Newport Inc

Organization Overview

Sail Newport Inc is located in Newport, RI. The organization was established in 1987. 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 10/2021, Sail Newport Inc employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sail Newport 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 10/2021, Sail Newport Inc generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (12.2%) each year. All expenses for the organization totaled $2.3m during the year ending 10/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

ENCOURAGING AND PROMOTING SAILING EVENTS AND EDUCATIONAL PROGRAMS

Describe the Organization's Program Activity:

Part 3 - Line 4a

OPERATION OF A PUBLIC SAILING FACILITY IN NEWPORT, RHODE ISLAND.


PROMOTION AND COORDINATING OF NATIONAL AND INTERNATIONAL YACHTING EVENTS.


PROMOTION AND FUNDING OF YOUTH SAILING INSTRUCTION IN NEWPORT, RHODE ISLAND.


OTHER INSTRUCTIONAL AND EDUCATIONAL PROGRAMS.


OPERATION OF A PUBLIC SAILING FACILITY IN NEWPORT, RHODE ISLAND.


PROMOTION AND COORDINATING OF NATIONAL AND INTERNATIONAL YACHTING EVENTS.


PROMOTION AND FUNDING OF YOUTH SAILING INSTRUCTION IN NEWPORT, RHODE ISLAND.


OTHER INSTRUCTIONAL AND EDUCATIONAL PROGRAMS.


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Board, Officers & Key Employees

Name (title)Compensation
Brad Read
Executive Di
$147,548
Stuart Streuli
President
$0
Will Donaldson
Vice Preside
$0
Susan Daly
Secretary
$0
Thomas Lowell
Treasurer
$0
Amy Kempe
Past Preside
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$88,030
Fundraising events$0
Related organizations$0
Government grants $252,278
All other contributions, gifts, grants, and similar amounts not included above$686,752
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,027,060
Total Program Service Revenue$674,424
Investment income $35,055
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $486,562
Net Gain/Loss on Asset Sales $44,939
Net Income from Fundraising Events $170,700
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,453,105

Grants Recieved

Over the last fiscal year, we have identified 24 grants that Sail Newport Inc has recieved totaling $425,939.

Awarding OrganizationAmount
Alletta Morris Mcbean Charitable Trust

La Quinta, CA

PURPOSE: ENDOWMENT SUPPORT, ADMIRAL'S PIER AND YOUTH SAILING CENTER DOCK REPLACEMENT

$200,000
The Schmidt Family Foundation

Palo Alto, CA

PURPOSE: OCEAN STEWARDSHIP AND RESEARCH

$75,000
American Endowment Foundation

Hudson, OH

PURPOSE: SPORTS/LEISURE

$36,000
Gruben Charitable Foundation

Newport, RI

PURPOSE: UNRESTRICTED

$25,000
Lotz Family Foundation

Fort Lauderdale, FL

PURPOSE: TO PROMOTE AND OPERATE AFFORDABLE PUBLIC SAILING INSTRUCTION AND RENTAL PROGRAMS, AND TO CREATE OPPORTUNITIES TO ATTRACT NEW INDIVIDUALS TO THE SPORT OF SAILING.

$22,200
The John J And Lillian M Taylor Foundation

Jupiter, FL

PURPOSE: EDUCATION

$15,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,630,037
Earnings$456,012
Admin Expense$12,852
Net Contributions$208,273
Other Expense$51,060
Ending Balance$2,230,410

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