Youth Sailing Foundation Of Indian River County, Dba Latitude 27 39 Sail Club1040 in Vero Beach, Florida (FL)
Table of contents:
| Youth Sailing Foundation Of Indian River County, Dba Latitude 27 39 Sail Club1040 | |
| Employer Identification Number (EIN) | 270952942 |
| Name of Organization | Youth Sailing Foundation Of Indian River County |
| Secondary Name | Dba Latitude 27 39 Sail Club1040 |
| In Care of Name | Charles Pope |
| Address | PO BOX 612, Vero Beach, FL 32961-0612 |
| Subsection | Charitable Organization, Educational Organization |
| Ruling Date | 02/2010 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2014 |
| Assets | $100,000 to $499,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 - Required to file Form 990-N - Income less than $25,000 per year |
| Asset Amount | $162,641 |
| Amount of Income | $45,533 |
| Form 990 Revenue Amount | $41,081 |
| National Taxonomy of Exempt Entities (NTEE) | Recreation, Sports, Leisure, Athletics: Swimming, Water Recreation |
Non-representatives - add comments:
Amount of income in 2014: $45,533 (it was $98,471 in 2013)
| Youth Sailing Foundation Of Indian River County, Dba Latitude 27 39 Sail Club1040: | $45,533 |
| Other organizations performing similar types of work: | $81,788 |
Assets in 2014: $162,641 (it was $93,992 in 2013)
| This organization: | $162,641 |
| Other organizations performing similar types of work: | $33,448 |
Expenses in 2014: $64,719
| Youth Sailing Foundation Of Indian River County, Dba Latitude 27 39 Sail Club1040: | $64,719 |
| Other organizations performing similar types of work: | $75,206 |
Income to expenses ratio in 2014: 0.7
| This organization: | 0.7 |
| Other organizations performing similar types of work: | 0.9 |
Grants share in income in 2014: 44.6%
| Youth Sailing Foundation Of Indian River County, Dba Latitude 27 39 Sail Club1040: | 44.6% |
| Other organizations performing similar types of work: | 78.3% |
Revenue for 2014
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| Total revenue | $46,332 | $51,094 | $77,910 | $106,877 |
| Contributions, gifts, grants, and similar amounts received | $18,750 | $19,105 | $46,447 | $47,711 |
| Program service revenue including government fees and contracts | $6,606 | $14,200 | $13,960 | $5,243 |
| Membership dues and assessments | $0 | $0 | $0 | $0 |
| Investment income | $10 | $16 | $5 | $534 |
| Gain/Loss from sale of assets other than inventory | $3,512 | $-950 | $1,494 | $4,660 |
| Gross amount from sale of assets other than inventory | $3,762 | $2,350 | $1,494 | $4,660 |
| Less: cost or other basis and sales expenses | $250 | $3,300 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $20,925 | $18,767 | $16,231 | $30,710 |
| Gross income from gaming | $0 | $0 | $0 | $0 |
| Gross income from fundraising events | $27,052 | $25,789 | $30,862 | $37,321 |
| Less: direct expenses from gaming and fundraising events | $6,127 | $7,022 | $14,631 | $6,611 |
| Gross profit/loss from sales of inventory | $-5,959 | $-944 | $-1,327 | $-1,381 |
| Gross sales of inventory, less returns and allowances | $6,486 | $10,908 | $4,603 | $3,101 |
| Less: cost of goods sold | $12,445 | $11,852 | $5,930 | $4,482 |
| Other revenue | $2,488 | $900 | $1,100 | $19,400 |
| Total expenses | $20,907 | $37,615 | $58,903 | $64,719 |
| Total net assets | $56,639 | $70,118 | $93,992 | $136,150 |
| Excess/Deficit for the year | $25,425 | $13,479 | $19,007 | $42,158 |
| Net assets or fund balances at beginning of year | $31,214 | $56,639 | $70,118 | $93,992 |
| Other changes in net assets or fund balances | $0 | $0 | $4,867 | $0 |
| Net assets or fund balances at end of year | $93,992 | $136,150 | ||
| Balance Sheets | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| Total assets | $56,639 | $70,118 | $93,992 | $136,150 |
| Total liabilities | $0 | $0 | $0 | $0 |
| Net assets or fund balances | $56,639 | $70,118 | $93,992 | $136,150 |
| Other Information | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | ||
| Were any significant changes made to the organizing or governing documents? | No | No | ||
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | ||
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | ||
| Amount of political expenditures, direct or indirect | $0 | $0 | ||
| Did the organization file Form 1120-POL for this year? | No | No | ||
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No | ||
| Total amount involved | $0 | $0 | ||
| Initiation fees and capital contributions | $0 | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No | ||
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | ||
| Reason for Public Charity Status (for 2014) | |
| The organization is not a private foundation because it is: | An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi) |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014) | |
| 2010 - 2014 Total | |
|---|---|
| Public Support | $223,634 |
| Subtotal Support | $229,444 |
| Gifts, grants, contributions, and membership fees received | $200,644 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $28,800 |
| The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support | $5,810 |
| Total Support | $243,486 |
| Public Support | $229,444 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $565 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income. Do not include gain or loss from the sale of capital assets | $13,477 |
| Gross receipts from related activities, etc. | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | University Swim Club | Po Box 10442, Knoxville, TN 37939-0442 | TN | 2007-02 | $43,203 |
| 2 | Sarasota Crew Inc | 343 Palmetto Ave, Osprey, FL 34229-9381 | FL | 2002-08 | $1,072,630 |
| 3 | Water Sports Foundation Inc | 4860 Waterwitch Point Dr, Orlando, FL 32806 | FL | 2005-01 | $739,896 |
| 4 | South Tampa Aquatic Team Inc | 2311 S Lois Ave, Tampa, FL 33629-5605 | FL | 2009-11 | $344,653 |
| 5 | 21st Century Swimming Lessons Inc | 2404 Hibiscus St, Sarasota, FL 34239 | FL | 2015-01 | $288,462 |
| 6 | Tampa Blue Tide Swimming Inc, Tbay Brandon | 3803 Saddle Ridge St, Valrico, FL 33596 | FL | 2010-10 | $275,620 |
| 7 | Southwest Florida Swim Club Inc | 20421 Rookery Dr, Estero, FL 33928-3040 | FL | 1995-09 | $261,647 |
| 8 | Pompano Piranhas Inc | 201 Se 24th Ave, Pompano Beach, FL 33062-5307 | FL | 2011-02 | $232,066 |
| 9 | Tampa Bay Aquatics Central Booster Club Inc, Tbay Booster Club | 3109 W Wallcraft Ave, Tampa, FL 33611-1942 | FL | 2008-04 | $225,654 |
| 10 | Msc Booster Organization Inc | 825 Se 3rd Ave Ste 200, Ocala, FL 34471-3777 | FL | 2013-12 | $180,435 |
| 11 | Seastars Aquatics Inc | 5425 Hibiscus Rd, Pensacola, FL 32504-4731 | FL | 2004-07 | $150,233 |
| 12 | Tampa Bay Dragon Boat Institute Inc | PO BOX 75549, Tampa, FL 33675-0549 | FL | 2006-01 | $150,158 |
| 13 | Tarpon Aquatic Club Inc | 33 Manizaks Ave, Punta Gorda, FL 33983-4224 | FL | 2004-10 | $133,944 |
| 14 | Braves Rowing Inc | PO BOX 560925, Orlando, FL 32856-0925 | FL | 2011-09 | $127,210 |
| 15 | Winter Haven Stingrays Inc | PO BOX 9002, Winter Haven, FL 33883-9002 | FL | 2000-05 | $126,973 |
| 16 | H2o-Kids Zone Swim School | 1909 Sw Winners Dr, Palm City, FL 34990-2229 | FL | 2013-07 | $125,186 |
| 17 | Santa Rosa Island Triathlon Inc | 2020 Utica Pl, Pensacola, FL 32503-3234 | FL | 2002-04 | $112,110 |
| 18 | Treasure Coast Aquatics & Diving Inc | 1909 Sw Winners Dr, Palm City, FL 34990-2229 | FL | 2003-08 | $83,516 |
| 19 | Sailing Foundation Of The Palm Beaches Inc, Riviera Beach Youthbuild | 251 West 11th St, Riviera Beach, FL 33404 | FL | 1997-02 | $82,126 |
| 20 | The Treasure Coast Youth Sailing Foundation Inc | PO BOX 1783, Fort Pierce, FL 34954-1783 | FL | 2006-05 | $81,340 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 2,651 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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