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Sailing Ships Maine

Tax-deductible

Portland, ME501(c)(3)Arts & Culture EIN 47-3101784Revenue $776K in FY2024Latest return filed May 15, 2025

On file with the IRSsailingshipsmaine.orgPortland, METax-exempt since Sep 2015Publicly supported — 509(a)(2)

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Provide scholarships and educational voyages/workshops to students age 14-18 to teach teamwork, leadership and marine/sailing.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
Run by 10 volunteers and 20 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
The latest return is for FY2024, 2 tax years back.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $78K a year · 10% of revenue · last 5 filings
A surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
83%
of spending
83% of spending went to programs.
Pt IX · Ln 25 · col B
Cash reserves
2.1 mo
of spending, in cash
2.1 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $35K
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$493K
58% of total assets
Liabilities are 58% of assets.
Pt X · Ln 26
Independent board members
9
of 9 voting members
9 of 9 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$776K
+6% vs prior year
Spent
$304K
To programs
83%
Net assets
$363K
By yearFY2020–FY2024
Revenue
$776K
FY2024▲ +6%
Tap a bar for its year
Revenue by fiscal year
FY2020$222K
FY2021$804K
FY2022$1.4M
FY2023$734K
FY2024$776K
Expenses
$304K
FY2024▼ -57%
Tap a bar for its year
Expenses by fiscal year
FY2020$345K
FY2021$902K
FY2022$1.3M
FY2023$715K
FY2024$304K
Net assets
$363K
FY2024▲ +435%
Tap a bar for its year
Net assets by fiscal year
FY2020−$144K
FY2021−$253K
FY2022−$127K
FY2023−$108K
FY2024$363K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2015.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $252K Management & general 17% · $52K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
Alex Agnew
President
$0Pt VII · Sec A
Richard Olson
Secretary
$0Pt VII · Sec A
Jon Radtke
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mak Sprague
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Sailing Ships Maine executive salaries →

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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Sponsors sailing trips and workshops for teens, teaching teamwork, leadership, and marine skills.

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1 program · $252K · in their own filed words · FY2024
01

Small Boat / 6 Pack Schooner Program

one week educational voyages on a large traditional sailing vessel. Students were taught teamwork, leadership and sail training. Some students received vaying levels of scholarships, ranging from ages 14-18.

$252Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Donor Advised Charitable Giving INCFY2024$35K
Total grants receivedfrom 1 funder$35K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$776K
Ln 12
Gifts and grantsLn 1h$706K
Fees for servicesLn 2g$73K
Money outPt IX
$304K
Ln 25
Programscol B$252K
Managementcol C$52K
Owns and owesPt X
$363K
net assets · Ln 32
Cash and savingsLn 1–2$53K
Total assetsLn 16$856K
LiabilitiesLn 26$493K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$706K
Government grantsLn 1e$142K
Noncash giftsLn 1g$485K
Fees for servicesLn 2g$73K
Total revenueLn 12$776K
Assets in detailPt X, end of year
CashLn 1$53K
Cash and savings togetherLn 1–2$53K
Inventories for sale or useLn 8$789K
Other assetsLn 15$14K
Total assetsLn 16$856K
LiabilitiesLn 26$493K
Net assetsLn 32$363K
OperationsPt I, VI
EmployeesI 520
VolunteersI 610
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$20K$53K
Total assetsLn 16$407K$856K
LiabilitiesLn 26$516K$493K
Net assetsLn 32−$108K$363K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$21K$14K$8K$0
Payroll taxesLn 10$2K$1K$748$0
Accounting feesLn 11c$16K$0$16K$0
Office expensesLn 13$265$0$265$0
Information technologyLn 14$3K$0$3K$0
InterestLn 20$10K$0$10K$0
InsuranceLn 23$12K$10K$1K$0
Other expenses (24a–d)Ln 24$17K$7K$10K$0
All other expensesLn 24e$223K$219K$4K$0
Total functional expensesLn 25$304K$252K$52K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS May 15, 2025 $776K$304K$471K$363K 990 PDF
FY2023Filed with the IRS May 15, 2025 $734K$715K$19K−$108K 990 PDF
FY2022Filed with the IRS May 15, 2025 $1.4M$1.3M$121K−$127K 990 PDF
FY2021Filed with the IRS Nov 14, 2022 $804K$902K−$98K−$253K 990 PDF
FY2020Filed with the IRS Nov 10, 2021 $222K$345K−$123K−$144K 990 PDF

Schedules filed Part IV

A · Public support I · Grants M · Noncash O · Explanations
See the full FY2024 990
Part I · Summary $775,720 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $352,899$705,898
I-9 Program service revenuePrior year $409,475$73,420
I-10 Investment income$0
I-11 Other revenuePrior year −$28,620−$3,598
I-12 Total revenuePrior year $733,754$775,720
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $221,852$23,561
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $493,196$280,856
I-18 Total expensesPrior year $715,048$304,417
I-19 Revenue less expensesPrior year $18,706$471,303
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $775,720 across 6 lines filed
Lines not itemized here account for −$3,598 of total revenue; see the IRS return.
VIII-1e Government grants$142,143
VIII-1f All other contributions, gifts and grants$563,755
VIII-1g Noncash contributions (included above)$485,450
VIII-1h Total contributions, gifts and grants$705,898
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$73,420
VIII-12 Total revenueRelated to mission $69,822 · Unrelated business $0 · Excluded from tax $0$775,720
Part IX · Statement of functional expenses $304,417 across 9 lines filed
IX-7 Other salaries and wagesPrograms $13,925 · Management $7,500 · Fundraising $0$21,425
IX-10 Payroll taxesPrograms $1,388 · Management $748 · Fundraising $0$2,136
IX-11c Accounting feesPrograms $0 · Management $16,388 · Fundraising $0$16,388
IX-13 Office expensesPrograms $0 · Management $265 · Fundraising $0$265
IX-14 Information technologyPrograms $0 · Management $2,876 · Fundraising $0$2,876
IX-20 InterestPrograms $0 · Management $9,990 · Fundraising $0$9,990
IX-23 InsurancePrograms $10,468 · Management $1,051 · Fundraising $0$11,519
IX-24 Other expenses (24a–d)Programs $7,245 · Management $9,525 · Fundraising $0$16,770
IX-24e All other expensesPrograms $219,124 · Management $3,924 · Fundraising $0$223,048
IX-25 Total functional expensesPrograms $252,150 · Management $52,267 · Fundraising $0$304,417
Part X · Balance sheet $856,067 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $19,616$53,467
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $374,150$789,100
X-15 Other assetsStart of year $13,500$13,500
X-16 Total assetsStart of year $407,266$856,067
X-17 Accounts payable and accrued expensesStart of year $3,463$10,055
X-19 Deferred revenueStart of year $1,000$1,000
X-22 Loans from officers and insidersStart of year $421,141$391,047
X-23 Secured mortgages and notes payableStart of year $90,000$90,000
X-25 Other liabilitiesStart of year $0$1,000
X-26 Total liabilitiesStart of year $515,604$493,102
X-31 Retained earnings or endowmentStart of year −$108,338$362,965
X-32 Total net assets or fund balancesStart of year −$108,338$362,965
X-33 Total liabilities and net assetsStart of year $407,266$856,067
Part XI · Reconciliation of net assets $362,965 net assets at year end
XI-1 Total revenue$775,720
XI-2 Total expenses$304,417
XI-3 Revenue less expenses$471,303
XI-4 Net assets at start of year−$108,338
XI-10 Net assets at end of year$362,965

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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