Lisot Sailing Foundation Inc
- Assets
- $116.6k
- Revenue
- $428.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Darien, CT
- Founding
- Data as of
- 12/2021
- EIN
- 81-2660652
Organization Overview
Lisot Sailing Foundation Inc is located in Darien, CT. As of 12/2021, Lisot Sailing Foundation Inc employed 2 individuals. Lisot 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 12/2021, Lisot Sailing Foundation Inc generated $428.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 27.1% each year . All expenses for the organization totaled $403.3k during the year ending 12/2021. While expenses have increased by 27.8% per year over the past 5 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
THE CORPORATION WILL PROMOTE, ENCOURAGE, ORGANIZE AND CONDUCT SAILBOAT RACING ACTIVITIES FOR HEALTHFUL, WHOLESOME, AND CHARACTER-BUILDING SPORT FOR YOUTH: TO DISSEMINATE INFORMATION TO CHILDREN AND YOUNG PEOPLE ABOUT THE SPORT OF SAILBOAT RACING; TO ASSIST CHILDREN AND YOUNG PEOPLE IN DEVELOPING THEIR SAILBOAT RACING ABILITIES TO ENABLE THEM TO COMPETE IN LOCAL, REGIONAL, NATIONAL, AND INTERNATIONAL COMPETITION; TO ASSIST CHILDREN AND YOUNG PEOPLE AND THEIR FAMILIES IN SETTING AND ACHIEVING THEIR GOALS IN THE SPORT OF SAILBOAT RACING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION WILL PROMOTE, ENCOURAGE, ORGANIZE AND CONDUCT SAILBOAT RACING ACTIVITIES FOR HEALTHFUL, WHOLESOME, AND CHARACTER-BUILDING SPORT FOR YOUTH: TO DISSEMINATE INFORMATION TO CHILDREN AND YOUNG PEOPLE ABOUT THE SPORT OF SAILBOAT RACING; TO ASSIST CHILDREN AND YOUNG PEOPLE IN DEVELOPING THEIR SAILBOAT RACING ABILITIES TO ENABLE THEM TO COMPETE IN LOCAL, REGIONAL, NATIONAL, AND INTERNATIONAL COMPETITION; TO ASSIST CHILDREN AND YOUNG PEOPLE AND THEIR FAMILIES IN SETTING AND ACHIEVING THEIR GOALS IN THE SPORT OF SAILBOAT RACING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Rudnick President | OfficerTrustee | 1 | $0 |
Jack Cowles Treasurer | Officer | 1 | $0 |
Sophie Cowles Director | Trustee | 1 | $0 |
Doug Wefer Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,820 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $46,820 |
| Total Program Service Revenue | $346,357 |
| Investment income | $6 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $428,787 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $157,598 |
| Pension plan accruals and contributions | $7,850 |
| Other employee benefits | $0 |
| Payroll taxes | $12,056 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,176 |
| Fees for services: Accounting | $4,453 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $68,707 |
| Advertising and promotion | $0 |
| Office expenses | $7,240 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $17,338 |
| 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 | $1,815 |
| Insurance | $20,294 |
| All other expenses | $0 |
| Total functional expenses | $403,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,566 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,000 |
| Total assets | $116,566 |
| 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 | $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 | $116,566 |
| Total liabilities and net assets/fund balances | $116,566 |
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