Clagett Sailing
- Assets
- $712.8k
- Revenue
- $356.5k
- Investments
- $376.8k
- Employees
- 1
- Location
- Portsmouth, RI
- Founding
- 03/2010
- Data as of
- 12/2021
- EIN
- 27-1789166
Organization Overview
Clagett Sailing is located in Portsmouth, RI. The organization was established in 2010. According to its NTEE Classification (N70) the organization is classified as: Amateur Sports Competitions, 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. Clagett Sailing 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, Clagett Sailing generated $356.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $236.5k during the year ending 12/2021. While expenses have increased by 5.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER NATIONAL AND INTERNATIONAL AMATEUR COMPETITIVE SAILING OPPORTUNITIES FOR SAILORS WITH PHYSICAL DISABILITIES AND HELP THEM ACHIEVE THEIR INDIVIDUAL GOALS IN SAILING THROUGH WORLD-CLASS COACHING AND COMPETITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE C. THOMAS CLAGETT, JR. MEMORIAL CLINIC AND REGATTA IN NEWPORT WAS HELD IN 2021. DUE TO SAFETY CONCERNS RELATED TO COVID-19, HOWEVER, THE CLAGETT/OAKCLIFF MATCH RACE WAS POSTPONED UNTIL 2022. IN 2021, THE CLAGETT REGATTA HIRED 4 COACHES TO COACH 35 SAILORS IN 3 CLASSES OF BOATS. THE CLAGETT CONSISTED OF 2 CLINIC DAYS AND 3 DAYS OF RACING. THE 2.4MR CLASS RACED 7 RACES, THE MARTIN 16 CLASS RACED 7 RACES AND THE SONAR CLASS RACED 6 RACES DURING THE EVENT. A TOTAL OF 5 VIRTUAL CLINIC SESSIONS WERE HELD DURING 2021; 4 VIRTUAL COACHING PROGRAM SESSIONS WERE HELD IN THE SPRING OF 2021 FOCUSED ON RACING RULES AND TACTICAL DECISION MAKING, AND 1 VIRTUAL CLINIC WAS HELD IN THE FALL OF 2021 IN LIEU OF THE CLAGETT/OAKCLIFF MATCH. THE VIRTUAL SESSIONS WERE LED BY 2 OF THE COACHES AND, ON AVERAGE, THERE WERE APPROXIMATELY 50 SAILOR ATTENDEES PER VIRTUAL SESSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel F Dwyer III Treas To 11/21 | OfficerTrustee | 5 | $0 |
Sarah Everhart-Skeels Vp, Sailor Rec | OfficerTrustee | 2 | $0 |
Juliette Mclennan President | OfficerTrustee | 25 | $0 |
Stephanie Mclennan Vp, Onshore Act | OfficerTrustee | 18 | $0 |
Roberta Benjamin Treasurer | Trustee | 10 | $0 |
Spencer Raggio Director | Trustee | 1.15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $59,924 |
| Related organizations | $0 |
| Government grants | $35,643 |
| All other contributions, gifts, grants, and similar amounts not included above | $177,421 |
| Noncash contributions included in lines 1a–1f | $96,766 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $272,988 |
| Total Program Service Revenue | $7,250 |
| Investment income | $10,191 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $39,944 |
| Net Income from Fundraising Events | $26,079 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $356,452 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,470 |
| 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 | $61,292 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,539 |
| Payroll taxes | $9,293 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,668 |
| Fees for services: Other | $7,962 |
| Advertising and promotion | $0 |
| Office expenses | $3,064 |
| Information technology | $1,200 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10 |
| 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 | $30,790 |
| Insurance | $11,417 |
| All other expenses | $25,500 |
| Total functional expenses | $236,541 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $213,362 |
| Savings and temporary cash investments | $1,807 |
| 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 | $120,599 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $376,782 |
| Investments—program-related | $0 |
| Intangible assets | $208 |
| Other assets | $0 |
| Total assets | $712,758 |
| Accounts payable and accrued expenses | $88 |
| 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 | $88 |
| 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 | $712,670 |
| Total liabilities and net assets/fund balances | $712,758 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Clagett Sailing has recieved totaling $18,700.
| Awarding Organization | Amount |
|---|---|
Rhode Island Turnpike And Bridge Foundation Jamestown, RI PURPOSE: GENERAL SUPPORT/ ASSISTANCE | $6,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $5,100 |
Horace A & S Ella Kimball Foundation Westerly, RI PURPOSE: UNRESTRICTED GIFT | $5,000 |
Van Beuren Charitable Foundation Inc New York, NY PURPOSE: UNRESTRICTED | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $100 |
Endowment Analysis
| Beg. Balance | $192,212 |
| Earnings | $13,658 |
| Net Contributions | $16,592 |
| Ending Balance | $222,462 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
America East Boston, MA | $5,719,263 | $6,183,979 |
Hayden Synchronized Skating Teams Inc Woburn, MA | $867,521 | $1,759,773 |
Connecticut State Golf Association Inc Rocky Hill, CT | $2,099,281 | $1,823,029 |
Connecticut Sports Management Group Inc Middletown, CT | $277,268 | $757,611 |
New England Amateur Skating Foundation Inc Providence, RI | $687,588 | $557,183 |
The Riverside Boat Club Of Cambridge Cambridge, MA | $2,915,123 | $606,845 |
Usa Swimming Inc Needham, MA | $805,553 | $473,292 |
Conanicut Island Sailing Foundation Jamestown, RI | $844,203 | $552,063 |
New England Womens And Men Athletic Conference Westwood, MA | $368,185 | $471,107 |
Amateur Athletic Union Of The United States Inc Hamilton, MA | $48,586 | $343,906 |
Massachusetts State Track Coaches Association Incorporated Canton, MA | $252,131 | $215,638 |
Run To Remember 1st Responders Inc Boston, MA | $189,053 | $421,360 |