Hatteras Community Sailing
Nonprofit profile at a glance
- EIN
- 852684924
- IRS 990-EZ coverage
- 2020–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2023
- Location
- Avon, NC, USA
- Phone
- 2524898193
- Rating
- 96
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Amateur Sports
Reported finances
- Revenue
- $91,201
- Expenses
- $91,057
- Assets
- $144
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- Jay Phillips (President)
People named in this filing
- Jay Phillips (President)
- Meg Phillips (Director)
- Ann Hawpe (Director)
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 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Hatteras Sailing Corporation (HSC) provides sailing instruction to youth athletes, coaches these same youth athletes in sailing competitions throughout the North Carolina and Mid-Atlantic regions, and runs sailing Regattas to allow same youth athletes and athletes from other clubs to compete locally.
What it reported doing in 2024
Provided coaching and instruction to 14 year-round youth sailors including participating in multiple regatta competitions. Ran two sailing regattas which included our year-round youth sailors and youth sailors from other regional clubs. Provided coaching and instruction to 16 high school sailors including participation in SAISA Interscholastic High School regatta competitions. Ran the Cape Explorer Sailing Camp for local youth at the Fesseden Center and the Homeschool Sailing Camp for youth who are home schooled on Hatteras 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.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 100
- Transparency & Controls: 100
- Sustainability: 32
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 99.8%; rating input score 100
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 0.2%; rating input score 46; 46th percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 5; 5th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
- Officer compensation ratio: 24.1%; rating input score 7; 7th percentile among comparable filings
Growth
- Program expense growth: 50% per year; rating input score 100; 93rd percentile among comparable filings
- Revenue growth: 49.6% per year; rating input score 100; 97th percentile among comparable filings
- Asset growth: -20.9% per year; rating input score 0; 10th percentile among comparable filings
Details
- Where the money goes: 99.8% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $91K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 3 filed schedules
- Filing history: 2 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
- High — Sustainability: Total-asset coverage ratio scored 5/100.
- Moderate — Sustainability: Operating margin scored 46/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 7/100.