Life Sail Inc
- Assets
- $428.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Van Nuys, CA
- Founding
- 01/2004
- Data as of
- 12/2020
- EIN
- 56-2364927
Organization Overview
Life Sail Inc is located in Van Nuys, CA. The organization was established in 2004. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Life Sail 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 12/2020, Life Sail Inc generated $68.7k 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 (9.7%) each year. All expenses for the organization totaled $83.4k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (4.5%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3
TRAINING FOSTER AND UNDERPRIVELEDGED YOUTH SEAMANSHIP AND TAKING THEM ON SEA EXCURSIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthias Schulz President & | 20 | $8,000 | |
Steven Schulz Program Dire | 10 | $0 | |
Jim Oates Vice Preside | 2 | $0 | |
Cynthia S Diaz CPA CFO | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $68,688 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $12 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $68,700 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $8,000 |
| Professional fees and other payments to independent contractors | $1,281 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $74,159 |
| Total expenses | $83,440 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $4,488 |
| Other assets | $0 |
| Total assets | $427,979 |
| Total liabilities | $58,507 |
| Net assets or fund balances | $369,472 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Life Sail Inc has recieved totaling $65,000.
| Awarding Organization | Amount |
|---|---|
The California Endowment Los Angeles, CA PURPOSE: SAN GABRIEL VALLEY EDUCATION CORPORATION - PROMOTING YOUTH HEALTH: TO SUPPORT THE LEADERSHIP DEVELOPMENT AND HEALTH OF YOUTH OF COLOR WITHIN THE SAN GABRIEL VALLEY THROUGH EXPOSURE TO WELLNESS, FITNESS AND MENTORING ACTIVITIES. | $50,000 |
Paul Stanford Bernhard Foundation Los Angeles, CA PURPOSE: AFTER SCHOOL & COMMUNITY SAILING PROGRAM | $10,000 |
John B And Nelly Llanos Kilroy Foundation Rolling Hills Estates, CA PURPOSE: GENERAL SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mental Health For Children Inc Springfield, OR | $5,065,120 | $7,331,896 |
Changelab Solutions Oakland, CA | $15,746,986 | $13,606,627 |
Spur-San Francisco Bay Are Planning And Urban Research Association San Francisco, CA | $18,179,408 | $7,467,044 |
East Bay Innovation Academy Oakland, CA | $2,595,879 | $8,649,182 |
Equality California Institute Los Angeles, CA | $3,410,779 | $5,992,471 |
Palo Alto Public Improvement Corporation Palo Alto, CA | $158,763,344 | $1,679,598 |
Vermont Village Human Services Corporation Los Angeles, CA | $28,001,792 | $4,364,948 |
Folded Flag Foundation Inc Las Vegas, NV | $11,013,213 | $5,308,956 |
Greater Reno Community Ice Skating Association Reno, NV | $10,174,749 | $2,449,166 |
Sedona Airport Administration Sedona, AZ | $10,897,473 | $3,704,767 |
The Corporation For Manufacturing Excellence Manex San Ramon, CA | $2,191,918 | $2,802,835 |
Governors Inaugural Fund 2019 Sacramento, CA | $10,549 | $0 |