Newport Harbor Sailing Foundation
- Assets
- $1.2m
- Revenue
- $103.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Newport Beach, CA
- Founding
- 10/1997
- Data as of
- 12/2023
- 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 12/2023, Newport Harbor Sailing Foundation generated $103.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (8.3%) each year. All expenses for the organization totaled $95.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (10.7%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Newport Harbor Sailing Foundation has awarded 17 individual grants totaling $113,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
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 |
|---|---|---|---|
Jim Buckingham President/trustee | OfficerTrustee | 2 | $0 |
Paul Stemler Vp/trustee | OfficerTrustee | 2 | $0 |
Colin Campbell Treasurer/trustee | OfficerTrustee | 3 | $0 |
Cathy Kinney Secretary/trustee | OfficerTrustee | 2 | $0 |
Jeff Condon Trustee | OfficerTrustee | 2 | $0 |
Kayla La Dow Trustee | OfficerTrustee | 4 | $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 | $41,263 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,263 |
| Total Program Service Revenue | $0 |
| Investment income | $48,244 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,771 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $103,002 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $61,950 |
| 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 | $1,800 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,538 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,392 |
| Fees for services: Other | $415 |
| Advertising and promotion | $0 |
| 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 | $2,564 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $986 |
| All other expenses | $0 |
| Total functional expenses | $95,687 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,850 |
| 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 | $1,212,302 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,230,152 |
| 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 | $1,146,077 |
| Net assets with donor restrictions | $84,075 |
| 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 | $1,230,152 |
Grants Awarded
Over the last fiscal year, Newport Harbor Sailing Foundation has awarded $23,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CORONA DEL MAR HIGH SCHOOL SAILING TEAM PURPOSE: AMATEUR SAILING TEAM ASSISTANCE | $10,000 |
NEWPORT HARBOR HIGH SCHOOL SAILING TEAM PURPOSE: AMATEUR SAILING TEAM ASSISTANCE | $7,000 |
MATER DEI HIGH SCHOOL PURPOSE: AMATEUR SAILING TEAM ASSISTANCE | $6,000 |