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Sail as You Are

Tax-deductible

Boston, MA501(c)(3)EducationEIN 92-1174155Revenue $232K in FY2024

On file with the IRSOne Boston Place 37th Floor, 02108-4407 · Boston, MATax-exempt since Jan 2023Publicly supported charity — 170(b)(1)(A)(vi)

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We promote maritime traditions through educations, hands on experience, and maintenance of maritime artificats such as the Schnooner Hindu.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Run by 6 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $28K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.7M
99% of total assets
Concern: liabilities are 99% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$232K
+409% vs prior year
Spent
$292K
To programs
98%
Net assets
$33K
By yearFY2023–FY2024
Revenue
$232K
FY2024▲ +409%
Tap a bar for its year
Revenue by fiscal year
FY2023$46K
FY2024$232K
Net assets
$33K
FY2024▼ -64%
Tap a bar for its year
Net assets by fiscal year
FY2023$93K
FY2024$33K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2023.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $286K Management & general 0% · $767 Fundraising 2% · $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

6 people listed on the 990.

Part VII, Section A · reportable compensation
Erin Desmond
President
$0Pt VII · Sec A
Christopher Rheault
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Dan Richter
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Sail as You Are 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
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Preserves maritime history through education and maintaining historic vessels.

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Provided by the organization

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1 program · $286K · in their own filed words · FY2024
01

Preservation, repairs and maintenance toward restoring the hindu schooner. Expenses are depreciable portion of capitalized costs listed in part x line 10.

$286Kprogram 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 · FY2023
National Philanthropic TrustFY2023$28K
Total grants receivedfrom 1 funder$28K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$232K
Ln 12
Gifts and grantsLn 1h$232K
Money outPt IX
$292K
Ln 25
Programscol B$286K
Managementcol C$767
Fundraisingcol D$5K
Owns and owesPt X
$33K
net assets · Ln 32
Cash and savingsLn 1–2$13K
Total assetsLn 16$3.7M
LiabilitiesLn 26$3.7M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$232K
Government grantsLn 1e$73K
Noncash giftsLn 1g$25K
Total revenueLn 12$232K
Assets in detailPt X, end of year
CashLn 1$13K
Cash and savings togetherLn 1–2$13K
Land, buildings, equipmentLn 10c$3.7M
Total assetsLn 16$3.7M
LiabilitiesLn 26$3.7M
Net assetsLn 32$33K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
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
LineStart FY24End FY24
Cash and savingsLn 1–2$3K$13K
Land, buildings, equipmentLn 10c$101K$3.7M
Total assetsLn 16$104K$3.7M
LiabilitiesLn 26$11K$3.7M
Net assetsLn 32$93K$33K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Advertising and promotionLn 12$4K$0$0$4K
Information technologyLn 14$300$0$300$0
TravelLn 17$180$0$180$0
Depreciation, depletion and amortizationLn 22$286K$286K$0$0
Other expenses (24a–d)Ln 24$2K$0$287$1K
Total functional expensesLn 25$292K$286K$767$5K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $232K$292K−$60K$33K 990 PDF
FY2023 $46K$93K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $231,878 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $44,705$231,878
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $854$0
I-12 Total revenuePrior year $45,559$231,878
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 $2,575$291,679
I-18 Total expensesPrior year $2,575$291,679
I-19 Revenue less expensesPrior year $42,984−$59,801
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $231,878 across 6 lines filed
VIII-1e Government grants$73,000
VIII-1f All other contributions, gifts and grants$158,878
VIII-1g Noncash contributions (included above)$25,415
VIII-1h Total contributions, gifts and grants$231,878
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$231,878
Part IX · Statement of functional expenses $291,679 across 5 lines filed
IX-12 Advertising and promotionPrograms $0 · Management $0 · Fundraising $3,706$3,706
IX-14 Information technologyPrograms $0 · Management $300 · Fundraising $0$300
IX-17 TravelPrograms $0 · Management $180 · Fundraising $0$180
IX-22 Depreciation, depletion and amortizationPrograms $285,714 · Management $0 · Fundraising $0$285,714
IX-24 Other expenses (24a–d)Programs $0 · Management $287 · Fundraising $1,492$1,779
IX-25 Total functional expensesPrograms $285,714 · Management $767 · Fundraising $5,198$291,679
Part X · Balance sheet $3,727,295 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $3,470$13,009
X-10c Land, buildings and equipment, netStart of year $100,932$3,714,286
X-16 Total assetsStart of year $104,402$3,727,295
X-26 Total liabilitiesStart of year $11,418$3,694,112
X-32 Total net assets or fund balancesStart of year $92,984$33,183
X-33 Total liabilities and net assetsStart of year $104,402$3,727,295
Part XI · Reconciliation of net assets $33,183 net assets at year end
XI-1 Total revenue$231,878
XI-2 Total expenses$291,679
XI-3 Revenue less expenses−$59,801
XI-4 Net assets at start of year$92,984
XI-10 Net assets at end of year$33,183

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

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