Fast Sailing Foundation Inc

Nonprofit profile at a glance

EIN
050616046
IRS 990-EZ coverage
2010–2014
Forms available
Form 990-EZ 2014
Location
Newport, RI, USA
Phone
9786704437
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Swimming & Other Water Recreation

Reported finances

Revenue
$73,443
Expenses
$77,013
Assets
$18,065

Source: IRS Form 990-EZ. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Meredith Shachoy (President)

People named in this filing

  • Edward Howard (Director)
  • Jeffrey Adam (Director)
  • Maryann Laundreau (Treasurer)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

FAST Sailing Foundation conducts training and instruction for young boys and girls in the sport of sailing. The training includes life lessons, including sportsmanship, leadership, good physical fitness, proper nutrition and skill development.

What it reported doing in 2014

Coached and training for over 25 young boys and girls in 20 plus events throughout the United States and international events.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 82
  • Sustainability: 28
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -4.9%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.23; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: -10.2% per year; rating input score 0; 32nd percentile among comparable filings
  • Revenue growth: -11.3% per year; rating input score 0; 28th percentile among comparable filings
  • Asset growth: -22.5% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $77K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2010 to 2014
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.