Ocean City Sailing Foundation in Ocean City, New Jersey (NJ)
Table of contents:
| Ocean City Sailing Foundation | |
| Employer Identification Number (EIN) | 261075933 |
| Name of Organization | Ocean City Sailing Foundation |
| Address | 1224 Pleasure Ave, Ocean City, NJ 08226-3418 |
| Subsection | Charitable Organization, Educational Organization |
| Ruling Date | 12/2007 |
| 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 (all other) or 990EZ return |
| Asset Amount | $105,912 |
| Amount of Income | $75,776 |
| Form 990 Revenue Amount | $75,776 |
| National Taxonomy of Exempt Entities (NTEE) | Recreation, Sports, Leisure, Athletics: Swimming, Water Recreation |
Non-representatives - add comments:
Amount of income in 2014: $75,776 (it was $61,572 in 2013)
| This organization: | $75,776 |
| Other organizations performing similar types of work: | $81,788 |
Assets in 2014: $105,912 (it was $97,010 in 2013)
| Ocean City Sailing Foundation: | $105,912 |
| Other organizations performing similar types of work: | $33,448 |
Expenses in 2013: $63,080
| Ocean City Sailing Foundation: | $63,080 |
| Other organizations performing similar types of work: | $75,206 |
Income to expenses ratio in 2013: 1.2
| This organization: | 1.2 |
| Other organizations performing similar types of work: | 0.9 |
Grants share in income in 2013: 22.8%
| This organization: | 22.8% |
| Other organizations performing similar types of work: | 78.3% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $68,830 | $74,258 | $61,572 |
| Contributions, gifts, grants, and similar amounts received | $30,471 | $24,653 | $14,049 |
| Program service revenue including government fees and contracts | $37,870 | $49,310 | $47,361 |
| Membership dues and assessments | $0 | $0 | $0 |
| Investment income | $157 | $48 | $52 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 | $0 |
| Gross profit/loss from sales of inventory | $332 | $247 | $110 |
| Gross sales of inventory, less returns and allowances | $332 | $247 | $110 |
| Less: cost of goods sold | $0 | $0 | $0 |
| Other revenue | $0 | $0 | $0 |
| Total expenses | $53,369 | $61,597 | $63,080 |
| Total net assets | $85,857 | $98,518 | $97,010 |
| Excess/Deficit for the year | $15,461 | $12,661 | $-1,508 |
| Net assets or fund balances at beginning of year | $70,396 | $85,857 | $98,518 |
| Other changes in net assets or fund balances | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $98,518 | $97,010 | |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $85,857 | $98,518 | $97,010 |
| Total liabilities | $0 | $0 | $0 |
| Net assets or fund balances | $85,857 | $98,518 | $97,010 |
| Other Information | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| 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 |
| 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 |
| Gross receipts for public use of club facilities | $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 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975 |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $143,537 |
| Subtotal | $143,537 |
| Gifts, grants, contributions, and membership fees received | $46,001 |
| Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | $57,536 |
| Gross receipts from activities that are not an unrelated trade or business under section 513 | $0 |
| 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 | $40,000 |
| Less | $0 |
| Amounts received from disqualified persons | $0 |
| Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support | $0 |
| Total support | $144,455 |
| Public support | $143,537 |
| Subtotal | $918 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $918 |
| Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income | $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 | Tigers Aquatics Club A Nj Nonprofit Corporation | 24 Huntington Dr, Princeton Jct, NJ 08550-2123 | NJ | 2009-03 | $493,859 |
| 3 | Sisters Under Sail Corporation | 2 Gravel Hill Rd, Asbury, NJ 08802-1347 | NJ | 2007-08 | $280,421 |
| 4 | Atlantic City Aquatic Club Inc, Atlantic City Aquatic Club | PO BOX 495, Pleasantville, NJ 08232-0495 | NJ | 2012-08 | $154,066 |
| 5 | South Jersey Rowing Club A Nj Nonprofit Corporation | PO BOX 442, Mount Laurel, NJ 08054-0442 | NJ | 2004-03 | $138,052 |
| 6 | Rumson Fair Haven Rowing Foundation Inc, Rumson Fair Haven Crew | 60 Mccarter Ave, Fair Haven, NJ 07704-3425 | NJ | 2010-02 | $28,939 |
| 7 | Pequannock Township Ice Hockey Association Inc | Po Box 454, Pompton Plains, NJ 07444 | NJ | 2002-09 | $17,366 |
| 8 | Cooper Rowing Foundation Corporation | 336 N Haddon Ave, Westmont, NJ 08108 | NJ | 2009-04 | $12,500 |
| 9 | Adaptive Sailing Inc | 8 Malapardis Rd, Whippany, NJ 07981 | NJ | 2008-08 | $0 |
| 10 | Bergen County Rowing Academy Inc | 137 Bergen Ave Apt C4, Ridgefield Pk, NJ 07660-1590 | NJ | 2015-03 | $0 |
| 11 | Brant Beach Sailing Foundation Inc | Po Box 402, Ship Bottom, NJ 08008 | NJ | 2002-10 | $0 |
| 12 | Cooper River Rowing Club Inc | Po Box 8965, Collingswood, NJ 08108 | NJ | 2005-10 | $0 |
| 13 | Corinthian Yacht Club Of Cape May Sailing Foundation Inc | Po Box 260, Cape May, NJ 08204 | NJ | 2008-12 | $0 |
| 14 | Dolphin Swim Team Parents Association Corp | 1251 Mayfair Ct, Vineland, NJ 08360 | NJ | 2013-02 | $0 |
| 15 | Elite Swim Club Parent Organization Inc | 2 Somerset Ave, Chatham, NJ 07928 | NJ | 2007-01 | $0 |
| 16 | Fvst Inc | 41 Glen Ridge Road, Long Valley, NJ 07853 | NJ | 2011-10 | $0 |
| 17 | Green Brook Swim Team Inc | 101 Rockview Avenue, North Plainfield, NJ 07060 | NJ | 2014-09 | $0 |
| 18 | Hoboken Masters Swimming Inc | 90 Washington Valley Rd, Bedminster, NJ 07921 | NJ | 2012-12 | $0 |
| 19 | Hopewell Community Quarry | 93 West Prospect Street, Hopewell, NJ 08525-1909 | NJ | 2009-08 | $0 |
| 20 | Hunterdon Sailing Club Inc | Po Box 187, Lebanon, NJ 08833 | NJ | 2012-10 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 2,651 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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