SAIL NEWPORT

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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

1983

Legal Domicile

Principal Officer

BRAD READ

Phone

4018461983

Tax Period

2023-11-01 to 2024-10-31

SAIL NEWPORT, founded in 1983, is a community nonprofit in the Recreation & Sports sector that reported $2.8M in total revenue in fiscal year 2023. Revenue fell 50% from the prior year — a significant decline worth monitoring. Net assets of $8.4M represent 37 months of operating reserves.

Mission

SAIL NEWPORT'S MISSION IS TO PROMOTE AND OPERATE AFFORDABLE PUBLIC SAILING INSTRUCTION, RENTAL PROGRAMS AND TO CREATE OPPORTUNITIES TO ATTRACT NEW SAILORS TO THE SPORT.

Program Service Accomplishments

Program 1

Expenses: $591,322 Revenue: $757,764

OPERATION OF A PUBLIC SAILING FACILITY IN NEWPORT, RHODE ISLAND.

Program 2

Expenses: $797,892 Revenue: $205,748

PROMOTION AND COORDINATING OF NATIONAL AND INTERNATIONAL YACHTING EVENTS.

Program 3

Expenses: $1,212,432 Revenue: $586,522

PROMOTION AND FUNDING OF ADULT AND YOUTH SAILING INSTRUCTION IN NEWPORT, RHODE ISLAND.

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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 $878,092

Program Service Revenue $818,540

Investment Income $121,720

Other Revenue $941,631

TOTAL REVENUE $2,759,983

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,715,524

Fundraising Expenses $240,798

Program Expenses $2,601,646

Other Expenses $1,286,286

TOTAL EXPENSES $3,001,810

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,759,983	$5,515,517	-0.5%
Expenses	$3,001,810	$5,050,828	-0.4%
Net Income	$-241,827	$464,689	-1.5%

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

Volunteers

N/A

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

$165,248

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN DALY	PRESIDENT	3.00	Officer Director	$0	$0	$0
DON STEINER	VICE PRESIDE	3.00	Officer Director	$0	$0	$0
TIM GRIMES	TREASURER	3.00	Officer Director	$0	$0	$0
LEE PARKS	SECRETARY	3.00	Officer Director	$0	$0	$0
WILL DONALDSON	PAST PRESIDE	3.00	Officer Director	$0	$0	$0
MICK HARVEY	DIRECTOR	1.00	Director	$0	$0	$0
KATRINA HELE	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS LONG	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW MACKEN	DIRECTOR	1.00	Director	$0	$0	$0
BARBY MACGOWAN	DIRECTOR	1.00	Director	$0	$0	$0
ROB MACMILLAN	DIRECTOR	1.00	Director	$0	$0	$0
JOHN MCCABE	DIRECTOR	1.00	Director	$0	$0	$0
BUSTER PIKE	DIRECTOR	1.00	Director	$0	$0	$0
LAT SPINNEY	DIRECTOR	1.00	Director	$0	$0	$0
JASON WALSH	DIRECTOR	1.00	Director	$0	$0	$0
COURTNEY VAN BEUREN	DIRECTOR	1.00	Director	$0	$0	$0
BRAD READ	EXECUTIVE DI	40.00	Officer	$165,248	$0	$165,248

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	$2,759,983	$3,001,810	$8,787,996	$-241,827
2023	$5,515,517	$5,050,828	$8,518,622	$464,689
2022	$3,014,185	$2,595,974	$8,009,967	$418,211
2021	$2,453,105	$2,332,307	$8,050,460	$120,798
2020	$1,982,370	$2,059,526	$7,764,975	$-77,156
2019	$2,314,438	$2,315,661	$8,016,889	$-1,223
2018	$5,597,414	$5,198,664	$8,282,651	$398,750