Lisot Sailing Foundation INC: FY2020 Nonprofit Profile & Form 990 (EIN 81-2660652)

Revenue by fiscal year
FY2020	$375K
FY2021	$429K
FY2022	$453K
FY2023	$490K
FY2024	$610K

Expenses by fiscal year
FY2020	$384K
FY2021	$403K
FY2022	$494K
FY2023	$479K
FY2024	$540K

Net assets by fiscal year
FY2020	$91K
FY2021	$117K
FY2022	$76K
FY2023	$87K
FY2024	$158K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $384K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation

Michael Rudnick

President

$0Pt VII · Sec A

Sophie Cowles

Director

$0Pt VII · Sec A

Beth Danilek

Director

$0Pt VII · Sec A

Doug Wefer

Director

$0Pt VII · Sec A

Jack Cowles

Treasurer

$0Pt VII · Sec A

See Lisot Sailing Foundation INC 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 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Organizes sailboat racing for youth, teaching skills and fostering character development.

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Provided by the organization

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1 program · $384K · in their own filed words · FY2020

01

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…

$384Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$375K

Ln 12

Fees for servicesLn 2g$346K

Gifts and grantsLn 1h$26K

Other incomeLn 4–11$3K

Money outPt IX

$384K

Ln 25

Programscol B$384K

Owns and owesPt X

$91K

net assets · Ln 32

Cash and savingsLn 1–2$89K

Total assetsLn 16$91K

LiabilitiesLn 26$0

PeoplePt VI, VII

5

listed · VII A

PaidVII A0

Voting boardVI 1a4

IndependentVI 1b4

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$26K

Government grantsLn 1e$21K

Fees for servicesLn 2g$346K

Investment incomeLn 3$59

Other incomeLn 4–11$3K

Total revenueLn 12$375K

Assets in detailPt X, end of year

CashLn 1$89K

Cash and savings togetherLn 1–2$89K

Land, buildings, equipmentLn 10c$2K

Total assetsLn 16$91K

LiabilitiesLn 26$0

Net assetsLn 32$91K

OperationsPt I, VI

EmployeesI 52

VolunteersI 612

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$95K	$89K
Land, buildings, equipmentLn 10c	$5K	$2K
Total assetsLn 16	$100K	$91K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$100K	$91K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$154K	$154K
Pension plan contributionsLn 8	$8K	$8K
Payroll taxesLn 10	$12K	$12K
Accounting feesLn 11c	$2K	$2K
Other fees for servicesLn 11g	$113K	$113K
Office expensesLn 13	$5K	$5K
TravelLn 17	$14K	$14K
Depreciation, depletion and amortizationLn 22	$4K	$4K
InsuranceLn 23	$17K	$17K
Other expenses (24a–d)Ln 24	$56K	$56K
Total functional expensesLn 25	$384K	$384K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$610K	$540K	$70K	$158K	990 PDF
FY2023	$490K	$479K	$11K	$87K	990 PDF
FY2022	$453K	$494K	−$41K	$76K	990 PDF
FY2021	$429K	$403K	$26K	$117K	990 PDF
FY2020 Viewing	$375K	$384K	−$9K	$91K	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 FY2020 990 (6 parts)

Part I · Summary $375,073 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $10,950$26,150

I-9 Program service revenuePrior year $462,808$346,089

I-10 Investment incomePrior year $0$59

I-11 Other revenuePrior year $22,909$2,775

I-12 Total revenuePrior year $496,667$375,073

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $181,947$173,917

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $287,669$209,856

I-18 Total expensesPrior year $469,616$383,773

I-19 Revenue less expensesPrior year $27,051−$8,700

Part VI · Governance 4 of 4 board members independent, 4 to look at

VI-1a Voting members of the governing body4

VI-1b Independent voting members4

VI-2 Family or business relationship among officers or directorsYes

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-12a Written conflict of interest policyYes

Part VIII · Statement of revenue $375,073 across 7 lines filed

VIII-1e Government grants$21,000

VIII-1f All other contributions, gifts and grants$5,150

VIII-1h Total contributions, gifts and grants$26,150

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $346,089$346,089

VIII-3 Investment incomeUnrelated business $59$59

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,775$2,775

VIII-12 Total revenueRelated to mission $348,864 · Unrelated business $59 · Excluded from tax $0$375,073

Part IX · Statement of functional expenses $383,773 across 10 lines filed

IX-7 Other salaries and wagesPrograms $153,942$153,942

IX-8 Pension plan contributionsPrograms $7,850$7,850

IX-10 Payroll taxesPrograms $12,125$12,125

IX-11c Accounting feesPrograms $1,871$1,871

IX-11g Other fees for servicesPrograms $113,252$113,252

IX-13 Office expensesPrograms $4,721$4,721

IX-17 TravelPrograms $13,561$13,561

IX-22 Depreciation, depletion and amortizationPrograms $3,631$3,631

IX-23 InsurancePrograms $16,761$16,761

IX-24 Other expenses (24a–d)Programs $56,059$56,059

IX-25 Total functional expensesPrograms $383,773 · Management $0 · Fundraising $0$383,773

Part X · Balance sheet $91,273 assets, 6 lines filed

X-1 Cash, non-interest-bearingStart of year $94,527$89,458

X-10c Land, buildings and equipment, netStart of year $5,446$1,815

X-16 Total assetsStart of year $99,973$91,273

X-26 Total liabilitiesStart of year $0$0

X-32 Total net assets or fund balancesStart of year $99,973$91,273

X-33 Total liabilities and net assetsStart of year $99,973$91,273

Part XI · Reconciliation of net assets $91,273 net assets at year end

XI-1 Total revenue$375,073

XI-2 Total expenses$383,773

XI-3 Revenue less expenses−$8,700

XI-4 Net assets at start of year$99,973

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$91,273

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Lisot Sailing Foundation INC FY2020 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Lisot Sailing Foundation INC

By the numbers

Filing history

Schedules filed Part IV