Sailing Foundation of Barnegat Bay Inc

EIN: 800079858 501(c)(3) Recreation & Sports

Island Heights, NJ

Total Revenue
$377,562
Total Expenses
$458,538
Total Assets
$335,699
Net Assets
$335,699
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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
NJ
Principal Officer
Victoria Duff
Phone
7327798122
Tax Period
2020-01-01 to 2020-12-31

Sailing Foundation of Barnegat Bay Inc, founded in 2003, is a small nonprofit in the Recreation & Sports sector that reported $378K in total revenue in fiscal year 2020. Revenue surged 59% from the prior year, signaling strong growth momentum. Expenses of $459K exceeded revenue, resulting in a 21% operating deficit.

Mission

The Foundation was formed for the purpose of preserving, protecting and advancing the traditions of recreational sailing. Its primary aim is to facilitate the education of youth sailing and promote the advancement of sailing sportsmanship and on water safety through the support of youth programs in the Barnegat Bay, NJ area. The Foundation will also seek to preserve historical structures, buildings and sailing vessels in the area.

Program Service Accomplishments

Program 1
Expenses: $433,954

The Foundation has assisted in the construction of a junior sailing center at Toms River Yacht Club. This two story facility, with bathrooms, will provide storage for 8 inflatable and "hard bottom"...

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The Foundation has assisted in the construction of a junior sailing center at Toms River Yacht Club. This two story facility, with bathrooms, will provide storage for 8 inflatable and "hard bottom" support/safety boats used in the junior sailing program at the club and for various junior, high school, college and senior regattas held at the club. Additionally, the second floor will provide class rooms and/or lecture hall for all to use. Toms River Yacht Club supports a junior sailing program for its members and non-member children for approximately 120 children. Additionally, Toms River Yacht Club supports a daily college and high school sailing programs for approximately 4 high schools and Ocean County College and regattas for 15 high schools and 15 colleges in the mid-atlantic area. The yacht club supports year round storage for approximately 30 sailboats used by the high schools and colleges and provides facilities for the daily practices and regattas.

Program 2
Expenses: $13,116

The Foundation promotes the advancement of water safety through the support of youth programs in the Barnegat Bay area. During the year the Foundation gave grants to various yacht clubs to repair...

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The Foundation promotes the advancement of water safety through the support of youth programs in the Barnegat Bay area. During the year the Foundation gave grants to various yacht clubs to repair, recondition and install propeller guards on the outboard motors for their patrol and safety boats used in the various junior sailing programs.

Program 3
Expenses: $8,331

The Foundation supports junior sailing programs on the Toms River and Barnegat Bay. The Foundation gave grants to juniors who are not members of a yacht club to pay the tuition for the summer sailing...

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The Foundation supports junior sailing programs on the Toms River and Barnegat Bay. The Foundation gave grants to juniors who are not members of a yacht club to pay the tuition for the summer sailing program. Additionally the Foundation paid for the registration fees for juniors sailing in the Barnegat Bay Yacht Racing Assoc. regattas.

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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%)

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Financial Overview (2020)

Revenue Breakdown

Contributions & Grants $376,840
Program Service Revenue $0
Investment Income $722
Other Revenue $0
TOTAL REVENUE $377,562

Expense Breakdown

Grants Paid $433,954
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $455,401
Other Expenses $24,584
TOTAL EXPENSES $458,538

Year-over-Year Comparison

2020 2019 Change
Revenue $377,562 $237,472 +0.6%
Expenses $458,538 $101,823 +3.5%
Net Income $-80,976 $135,649 -1.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
11
Independent Members
11
Employees
N/A
Volunteers
25

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
5
$1,545
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
William Warner Treasurer 5.00
Officer
$0 $0 $1,545
Victoria Duff President 5.00
Officer
$0 $0 $0
Nancy Dougherty Secretary 5.00
Officer
$0 $0 $0
Lauren Plump Secretary 5.00
Officer
$0 $0 $0
Lara Walsh Vice President 5.00
Officer
$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
2020 $377,562 $458,538 $335,699 $-80,976
2018 $212,897 $124,242 $279,464 $88,655
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