NORTH EAST KEELBOAT ALLIANCE INC C/O DIANE SCHOTTENSTEIN ESQ

EIN: 843472052 501(c)(3) Recreation & Sports

NEW YORK, NY

Total Revenue
$1,693,056
Total Expenses
$1,509,054
Total Assets
$1,373,100
Net Assets
$1,373,100
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
NY
Principal Officer
LEONID VASSILIEV
Phone
5164131636
Tax Period
2023-01-01 to 2023-12-31

NORTH EAST KEELBOAT ALLIANCE INC C/O DIANE SCHOTTENSTEIN ESQ, founded in 2019, is a community nonprofit in the Recreation & Sports sector that reported $1.7M in total revenue in fiscal year 2023. Expenses of $1.5M left a modest 11% surplus.

Mission

THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PUPOSES WITHIN THE MEANING OF SECTION 501(C) (3)OF THE CODE. WITHIN THE SCOPE OF THE FOREGOING PURPOSES, THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED AS A QUALIFIED AMATEUR SPORTS ORGANIZATION TO RAISE THE LEVEL OF EXCELLENCE AMONG AMATEUR AMERICAN SAILORS BY SUPPORTING, DEVELOPING AND PREPARING THEM TO COMPETE IN NATIONAL AND INTERNATIONAL COMPETITIONS INCLUDING THE OLYMPIC GAMES AND AMERICA'S CUP. THE ASSETS AND PROPERTIES OF THE CORPORATION ARE HEREBY PLEDGED FOR USE IN PERFORMING ITS EXEMPT FUNCTIONS. THE ACTIVITIES WHICH THE CORPORATION PROPOSES TO CONDUCT WITHIN THE STATE OF NEW YORK ARE AS FOLLOWS: OPERATING OUT OF THE NORTH SHORE OF LONG ISLAND, THE CORPORATION'S INITIAL PROGRAM WILL PAY FOR COACHING, SPONSORING, MAINTAINING, AND PROVIDING SAILBOATS SO THAT ATHLETES CAN TRAIN FOR OFFSHORE SAILBOAT RACING AS THE 2020 OLYMPICS WILL DEBUT A MIXED DOUBLEHANDED OFFSHORE SAILING EVENT.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,632,834
Program Service Revenue $0
Investment Income $55,222
Other Revenue $5,000
TOTAL REVENUE $1,693,056

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,509,054
Other Expenses $1,509,054
TOTAL EXPENSES $1,509,054

Year-over-Year Comparison

2023 2022 Change
Revenue $1,693,056 $1,748,196 0.0%
Expenses $1,509,054 $1,105,667 +0.4%
Net Income $184,002 $642,529 -0.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
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
3
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LEONID VASSILIEV PRESIDENT N/A
Officer Director
$0 $0 $0
DIANE SCHOTTENSTEIN ESQ SECRETARY N/A
Officer Director
$0 $0 $0
RICHARD A ROYCE TREASURER N/A
Officer 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 $1,693,056 $1,509,054 $1,373,100 $184,002
2022 $1,748,196 $1,105,667 $1,189,098 $642,529
2021 $1,214,171 $679,090 $546,569 $535,081
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