Newport Harbor Sailing Foundation
- Assets
- $1.3m
- Revenue
- $155.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Newport Beach, CA
- Founding
- 10/1997
- Data as of
- 12/2021
- EIN
- 33-0759152
Organization Overview
Newport Harbor Sailing Foundation is located in Newport Beach, CA. The organization was established in 1997. 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. Newport Harbor Sailing Foundation 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, Newport Harbor Sailing Foundation generated $155.1k 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 (5.2%) each year. All expenses for the organization totaled $133.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.4%) per year over the past 7 years. 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
PROMOTION OF AMATEUR SAILING
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEWPORT HARBOR SAILING FOUNDATION PROVIDED FINANCIAL SUPPORT TO VARIOUS INDIVIDUALS AND HIGH SCHOOL SAILING TEAMS TO ASSIST THEM IN PARTICIPATING IN A NUMBER OF NATIONAL, INTERNATIONAL AND WORLD CHAMPIONSHIP AMATEUR SAILING EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Stemler Vp/trustee | OfficerTrustee | 5 | $0 |
Burleigh Brewer Secretary | OfficerTrustee | 10 | $0 |
David Dahl Trustee | OfficerTrustee | 5 | $0 |
Chris Hermans Trustee | OfficerTrustee | 2 | $0 |
Matthew Mckinlay Treasurer | OfficerTrustee | 3 | $0 |
Jeffrey Condon President | OfficerTrustee | 10 | $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 | $68,786 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $68,786 |
| Total Program Service Revenue | $0 |
| Investment income | $31,810 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $21,309 |
| Net Income from Fundraising Events | $28,648 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $155,144 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $23,000 |
| Grants and other assistance to domestic individuals. | $64,020 |
| 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 | $9,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,504 |
| Fees for services: Other | $1,692 |
| Advertising and promotion | $14,708 |
| Office expenses | $399 |
| 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 | $897 |
| All other expenses | $0 |
| Total functional expenses | $132,974 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,722 |
| 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 | $0 |
| Investments—publicly traded securities | $1,212,924 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,283,646 |
| 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 | $1,163,867 |
| Net assets with donor restrictions | $119,779 |
| 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 | $1,283,646 |
Grants Awarded
Over the last fiscal year, Newport Harbor Sailing Foundation has awarded $23,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Costa Mesa, CA PURPOSE: AMATEUR SAILING TEAM ASSISTANCE | $10,000 |
Costa Mesa, CA PURPOSE: AMATEUR SAILING TEAM ASSISTANCE | $7,000 |
Santa Ana, CA PURPOSE: AMATEUR SAILING TEAM ASSISTANCE | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Newport Harbor Sailing Foundation has recieved totaling $14,000.
| Awarding Organization | Amount |
|---|---|
Whimsie Fund Malvern, PA PURPOSE: GRANT TO ANOTHER 501(C)(3) ORGANIZATION | $12,000 |
Crary Foundation Corona Del Mar, CA PURPOSE: UNRESTRICTED | $1,500 |
C & R Newman Family Foundation Santa Monica, CA PURPOSE: GENERAL OPERATING | $500 |
Endowment Analysis
| Beg. Balance | $121,973 |
| Ending Balance | $121,973 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Olympic Club San Francisco, CA | $139,553,098 | $52,824,082 |
Multnomah Athletic Club Portland, OR | $105,959,978 | $39,135,600 |
Monterey Peninsula Country Club Corp Pebble Beach, CA | $64,367,072 | $29,204,016 |
Hillcrest Country Club Los Angeles, CA | $41,243,354 | $25,586,349 |
Big Canyon Country Club Newport Beach, CA | $52,469,000 | $24,831,561 |
Jonathan Club Los Angeles, CA | $60,243,758 | $30,259,062 |
Los Angeles Country Club Los Angeles, CA | $94,895,978 | $18,517,076 |
Vintage Club Indian Wells, CA | $80,320,020 | $28,937,387 |
Brentwood Country Club Los Angeles Los Angeles, CA | $23,132,093 | $17,679,018 |
Waialae Country Club Honolulu, HI | $40,629,667 | $20,651,940 |
Track Town Usa Inc Eugene, OR | $22,816,196 | $29,424,138 |
Eldorado Country Club Indian Wells, CA | $45,757,738 | $18,170,181 |