THE SAILING FOUNDATION OF NEW YORK… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2003

Legal Domicile

Principal Officer

THOMAS L STARK

Phone

2039529534

Tax Period

2023-01-01 to 2023-12-31

THE SAILING FOUNDATION OF NEW YORK INC, founded in 2003, is a community nonprofit in the Recreation & Sports sector that reported $1.4M in total revenue in fiscal year 2023. Revenue surged 2270% from the prior year, signaling strong growth momentum. The organization ran a surplus of $951K, a strong 69% operating margin.

Mission

THE FOUNDATION SUPPORTS AMATEUR SPORTS PARTICIPATION IN COMPETITIVE SAILING THROUGH CLINICS, COACHING AND OTHER EDUCATIONAL ACTIVITIES. THE FOUNDATION ALSO PROVIDES FINANCIAL ASSISTANCE TO DESERVED ATHLETES COMPETING IN REGIONAL, NATIONAL AND INTERNATIONAL COMPETITIONS. THE FOUNDATION ALSO IDENTIFIES OPPORTUNITIES FOR TRAINING AND DEVELOPMENT PROVIDED BY OTHER CHARITABLE EXEMPT ORGANIZATIONS THAT FACILITATE THE PARTICIPATION OF AMATEUR ATHLETES IN SUCH MARINE RELATED EDUCATIONAL PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $212,823

THE FOUNDATION PROVIDES FUNDING OPPORTUNITIES FOR OLYMPIC ATHLETES COMPETING IN REGINOAL , NATIONAL ANDINTERNATIONAL COMPETITIONS. GRANTS ARE MADE TO REIMBURSE THESE ATHLETES FOR EXPENSES INCURRED...

THE FOUNDATION PROVIDES FUNDING OPPORTUNITIES FOR OLYMPIC ATHLETES COMPETING IN REGINOAL , NATIONAL ANDINTERNATIONAL COMPETITIONS. GRANTS ARE MADE TO REIMBURSE THESE ATHLETES FOR EXPENSES INCURRED TRAINING FOR OLYMPIC EVENTS. THE FOUNDATION ALSO SUPPORTS OLYMPIC SAILING ATHLETES WITH GRANTS TO US SAILING'S OLYMPIC SAILING PROGRAM.

Program 2

Expenses: $212,824

THE FOUNDATION SUPPORTS AMATEUR SPORTS PARTICIPATION IN COMPETITIVE SAILING THROUGH CLINICS, COACHING AND OTHER EDUCATIONAL ACTIVITES. THE FOUNDATION ALSO PROVIDES FINANCIAL ASSISTANCE TO DESERVED...

THE FOUNDATION SUPPORTS AMATEUR SPORTS PARTICIPATION IN COMPETITIVE SAILING THROUGH CLINICS, COACHING AND OTHER EDUCATIONAL ACTIVITES. THE FOUNDATION ALSO PROVIDES FINANCIAL ASSISTANCE TO DESERVED ATHELETES COMPETING IN REGIONAL, NATIONAL AND INTERNATIONAL COMPETITIONS. THE FOUNDATION ALSO IDENTIFIES OPPORTUNTIES FOR TRAINING AND DEVELOPMENT PROVIDED BY OTHER CHARITABLE EXEMPT ORGANIZATIONS THAT FACILITATE THE PARTICIPATION OF AMATEUR ATHLETES IN SUCH MARINE RELATED EDUCTIONAL PROGRAMS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,418,146

Program Service Revenue $0

Investment Income $19,227

Other Revenue $-53,299

TOTAL REVENUE $1,384,074

Expense Breakdown

Grants Paid $425,647

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $425,647

Other Expenses $7,590

TOTAL EXPENSES $433,237

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,384,074	$58,406	+22.7%
Expenses	$433,237	$91,819	+3.7%
Net Income	$950,837	$-33,413	-29.5%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS L STARK	PRESIDENT	5.00	Officer Director	$0	$0	$0
GEORGE M ISDALE	DIRECTOR	1.00	Director	$0	$0	$0
JAMES J CUMMISKEY	DIRECTOR	1.00	Director	$0	$0	$0
AUSTIN FRAGOMEN	DIRECTOR	1.00	Director	$0	$0	$0
JOHN HELE	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE HINMAN JR	DIRECTOR	1.00	Director	$0	$0	$0
DOROTHY M MOSKO	DIRECTOR	1.00	Director	$0	$0	$0
ARTHUR J SANTRY III	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$1,384,074	$433,237	$1,057,532	$950,837
2022	$58,406	$91,819	$106,695	$-33,413
2021	$162,250	$163,091	$140,108	$-841
2020	$174,459	$204,095	$140,949	$-29,636
2019	$244,247	$403,299	$170,585	$-159,052
2018	$810,406	$711,727	$329,637	$98,679

THE SAILING FOUNDATION OF NEW YORK INC