Breakwater Sailing Center Inc

Nonprofit profile at a glance

EIN
113055079
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Sag Harbor, NY, USA
Phone
6317254604
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$686,188
Expenses
$723,365
Assets
$462,005
Liabilities
$53,443

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

People named in this filing

  • NICHOLAS GAZZOLO (COMMODORE)
  • CORDELIA BOISE (TREASURER)
  • JIM VOS (VICE COMMODO)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to promote the sport of sailing and sailboat racing for all members of the community. We strive to ensure that sailors learn, cruise, and compete in a safe, fun environment and maintain high standards of sportsmanship. Lessons are provided for youth and adults with a special focus on women being introduced to sailing.

What it reported doing in 2024

To encourage sailing within the community, we provide sailing instruction to people of all ages. We also sponsor and run racing programs and special events to encourage and promote sailing across the eastern end of long island.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 86
  • Accountability: 94
  • Sustainability: 34
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.2%; rating input score 55
  • Program expense ratio: 54.1%; rating input score 54
  • Fundraising efficiency: $3.82 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.4%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0.64; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 3.5% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 6.4% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: -1.2% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 55.2% of revenue deployed · 54.1% of spending went to programs
  • Governance: 15 of 15 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $391K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • Review — Financial Efficiency: Program expense ratio scored 54/100.
  • High — Financial Efficiency: Fundraising efficiency scored 12/100.
  • High — Sustainability: Operating margin scored 23/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.