Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1996.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
51 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
5 people listed on the 990.
Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
Programs and updates
Restores and preserves historic America's Cup 12 Metre yachts and their racing heritage.
Questions for 12m Yacht Development Foundation INC
Your first name shows with your question. 12m Yacht Development Foundation INC answers here, for everyone.
Program Services Revenue
due to sailing activities, which included preparation to participate in offshore races in Greenwich CT. Contribution were made for the activity. Program expense - Cost included uniforms, food, repairs, management and cleaning of sales and dockage related expenses
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $866 | $7K |
| InvestmentsLn 11–13 | $650K | $650K |
| Land, buildings, equipmentLn 10c | $0 | $0 |
| Total assetsLn 16 | $651K | $657K |
| LiabilitiesLn 26 | $386K | $392K |
| Net assetsLn 32 | $265K | $265K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $0 | |||
| Grants to domestic individualsLn 2 | $0 | |||
| Grants and assistance to foreign recipientsLn 3 | $0 | |||
| Benefits paid to or for membersLn 4 | $0 | |||
| Pay of current officers, directors and key staffLn 5 | $0 | |||
| Pay of disqualified personsLn 6 | $0 | |||
| Other salaries and wagesLn 7 | $0 | |||
| Pension plan contributionsLn 8 | $0 | |||
| Other employee benefitsLn 9 | $0 | |||
| Payroll taxesLn 10 | $0 | |||
| Management feesLn 11a | $0 | |||
| Legal feesLn 11b | $0 | |||
| Accounting feesLn 11c | $0 | |||
| Lobbying feesLn 11d | $0 | |||
| Professional fundraising feesLn 11e | $0 | |||
| Investment management feesLn 11f | $0 | |||
| Other fees for servicesLn 11g | $0 | |||
| Advertising and promotionLn 12 | $0 | |||
| Office expensesLn 13 | $0 | |||
| Information technologyLn 14 | $0 | |||
| RoyaltiesLn 15 | $0 | |||
| OccupancyLn 16 | $22K | $22K | ||
| TravelLn 17 | $0 | |||
| Travel and entertainment for public officialsLn 18 | $0 | |||
| Conferences, conventions and meetingsLn 19 | $0 | |||
| InterestLn 20 | $0 | |||
| Payments to affiliatesLn 21 | $0 | |||
| Depreciation, depletion and amortizationLn 22 | $0 | |||
| InsuranceLn 23 | $0 | |||
| Other expenses (24a–d)Ln 24 | $138K | $88K | $28K | $22K |
| All other expensesLn 24e | $12K | $12K | ||
| Total functional expensesLn 25 | $172K | $88K | $63K | $22K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest ViewingFiled with the IRS Oct 26, 2025 | $238K | $172K | $66K | $265K | 990 PDF |
| FY2023Filed with the IRS Oct 28, 2024 | $837K | $186K | $651K | $265K | 990 PDF |
| FY2022Filed with the IRS Oct 9, 2023 | $66K | $153K | −$88K | −$147K | 990 PDF |
| FY2021Filed with the IRS Sep 19, 2022 | $60K | $76K | −$16K | $141K | 990 PDF |
| FY2020Filed with the IRS Nov 4, 2021 | $77K | $73K | $4K | $308K | 990 PDF |
Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $238,276 revenue, 12 lines filed
Part VI · Governance 0 of 5 board members independent, 3 to look at
Part VIII · Statement of revenue $238,276 across 9 lines filed
Part IX · Statement of functional expenses $172,344 across 31 lines filed
Part X · Balance sheet $656,716 assets, 30 lines filed
Part XI · Reconciliation of net assets $264,910 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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