Laser Regatta Squadron FY2022 filing

Not tax-deductible

Hermitage, TN501(c)(7)EIN 23-7372614Revenue $189K in FY2022

On file with the IRShiyc.orgPo Box 8117, 37076-8117 · Hermitage, TNTax-exempt since Aug 1974

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Sailboat training, racing, cruising and social events for sailors

96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2026
latest Form 990
Looks good: the latest return is for FY2026, this tax year; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average surplus $7K a year · 5% of revenue · last 3 filings
Worth a look: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
15 mo
of spending, in cash
Looks good: 15.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2K
0.7% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$189K
+69% vs prior year
Spent
$146K
To programs
96%
Net assets
$255K
By yearFY2021–FY2026
Revenue
$189K
FY2022▲ +69%
Tap a bar for its year
Revenue by fiscal year
FY2021$112K
FY2022$189K
FY2023$183K
FY2024$152K
FY2025$158K
FY2026$168K
Expenses
$146K
FY2022▲ +17%
Tap a bar for its year
Expenses by fiscal year
FY2021$124K
FY2022$146K
FY2023Not on file
FY2024Not on file
FY2025Not on file
FY2026$178K
Net assets
$255K
FY2022▲ +21%
Tap a bar for its year
Net assets by fiscal year
FY2021$211K
FY2022$255K
FY2023$289K
FY2024$296K
FY2025$303K
FY2026$262K

From the FY2022 Form 990 (year ending March 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2026) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2026. IRS ruling in Aug 1974.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $140K Management & general 4% · $5K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Board Member
$0Pt VII · Sec A
Commodore
$0Pt VII · Sec A
Rear Commodore
$0Pt VII · Sec A
Senior Governor
$0Pt VII · Sec A
JR Board Member
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Vice Commodore
$0Pt VII · Sec A
See Laser Regatta Squadron executive salaries →

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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
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides sailboat training, racing, cruising, and social events for sailors.

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Provided by the organization

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1 program · $140K · in their own filed words · FY2021
01

Sailing Events

Member races and social events

$140Kprogram expense

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$189K
Ln 12
Gifts and grantsLn 1h$189K
Money outPt IX
$146K
Ln 25
Programscol B$140K
Managementcol C$5K
Owns and owesPt X
$255K
net assets · Ln 32
Cash and savingsLn 1–2$187K
Total assetsLn 16$257K
LiabilitiesLn 26$2K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$189K
Total revenueLn 12$189K
Assets in detailPt X, end of year
CashLn 1$187K
Cash and savings togetherLn 1–2$187K
Land, buildings, equipmentLn 10c$70K
Total assetsLn 16$257K
LiabilitiesLn 26$2K
Net assetsLn 32$255K
OperationsPt I, VI
EmployeesI 50
VolunteersI 655
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$139K$187K
Land, buildings, equipmentLn 10c$75K$70K
Total assetsLn 16$214K$257K
LiabilitiesLn 26$2K$2K
Net assetsLn 32$211K$255K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
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$5K$5K
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$12K$12K
Office expensesLn 13$3K$3K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$40K$40K
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$16K$16K
InsuranceLn 23$15K$15K
Other expenses (24a–d)Ln 24$54K$54K
All other expensesLn 24e$0
Total functional expensesLn 25$146K$140K$5K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2026 Latest $168K$178K−$10K$262K 990 PDF
FY2025 $158K$303K 990 PDF
FY2024 $152K$296K 990 PDF
FY2023 $183K$289K 990 PDF
FY2022 Viewing $189K$146K$44K$255K 990 PDF
FY2021 $112K$124K−$12K$211K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $189,362 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $112,032$189,362
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $112,032$189,362
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $124,440$145,591
I-18 Total expensesPrior year $124,440$145,591
I-19 Revenue less expensesPrior year −$12,408$43,771
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $189,362 across 3 lines filed
VIII-1b Membership dues$189,362
VIII-1h Total contributions, gifts and grants$189,362
VIII-12 Total revenue$189,362
Part IX · Statement of functional expenses $145,591 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $5,272$5,272
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotionPrograms $11,562$11,562
IX-13 Office expensesPrograms $3,484$3,484
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $39,849$39,849
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $16,409$16,409
IX-23 InsurancePrograms $15,053$15,053
IX-24 Other expenses (24a–d)Programs $53,962$53,962
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $140,319 · Management $5,272$145,591
Part X · Balance sheet $256,966 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $139,163$186,973
X-10c Land, buildings and equipment, netStart of year $74,502$69,993
X-16 Total assetsStart of year $213,665$256,966
X-17 Accounts payable and accrued expensesStart of year $2,340$1,870
X-26 Total liabilitiesStart of year $2,340$1,870
X-32 Total net assets or fund balancesStart of year $211,325$255,096
X-33 Total liabilities and net assetsStart of year $213,665$256,966
Part XI · Reconciliation of net assets $255,096 net assets at year end
XI-1 Total revenue$189,362
XI-2 Total expenses$145,591
XI-3 Revenue less expenses$43,771
XI-4 Net assets at start of year$211,325
XI-10 Net assets at end of year$255,096

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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