Lauderdale Yacht Club Sailing Foundation Inc
- Assets
- $823.0k
- Revenue
- $142.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Lauderdale, FL
- Founding
- 12/2009
- Data as of
- 04/2022
- EIN
- 27-1035675
Organization Overview
Lauderdale Yacht Club Sailing Foundation Inc is located in Fort Lauderdale, FL. The organization was established in 2009. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, 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. Lauderdale Yacht Club 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 04/2022, Lauderdale Yacht Club Sailing Foundation Inc generated $142.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $74.9k during the year ending 04/2022. While expenses have increased by 16.6% 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
THE LAUDERDALE YACHT CLUB SAILING FOUNDATION IS DEDICATED TO FAVORABLY IMPACTING THE LIVES OF YOUNG PEOPLE, PRIMARILY BETWEEN THE AGES OF EIGHT AND EIGHTEEN. WE EDUCATE THEM ABOUT SAILING AND BOATING, WEATHER, MARINE SAFETY, SEA CONDITIONS, MARITIME 'RULES OF THE ROAD', RACING, TACTICS, FIRST AID AND IMPROVE SPATIAL AND MATHEMATICAL SKILLS. WE AIM TO PROVIDE THEM WITH TOOLS TO BUILD CHARACTER AND SUPPORT IN THE AREAS OF EDUCATION WHILE ADVOCATING LEADERSHIP AMONG YOUNG PEOPLE OF SOUTH FLORIDA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS/GRANTS - GRANTS ARE AWARDED TO YOUNG PEOPLE TO OFFSET OUT OF POCKET COSTS ASSOCIATED WITH SAILING ACTIVITIES AND COMPETITIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angelo Golemi Asst. Treasurer | Trustee | 0 | $0 |
Greg Bellows Director | Trustee | 0 | $0 |
Lee Patterson Marketing | Trustee | 0 | $0 |
Andrew Mescaloto Director | Trustee | 0 | $0 |
Malcolm Farrel Director | Trustee | 0 | $0 |
Robin Meagher Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $150,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $150,000 |
| Total Program Service Revenue | $0 |
| Investment income | $44,425 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,729 |
| Net Income from Fundraising Events | -$64,570 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $142,584 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,000 |
| Grants and other assistance to domestic individuals. | $51,415 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,656 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,019 |
| Office expenses | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $74,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,321 |
| Savings and temporary cash investments | $49,214 |
| 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 | $0 |
| Investments—publicly traded securities | $719,509 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $823,044 |
| 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 | $823,044 |
| 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 | $823,044 |