Inter-collegiate Sailing Association of North America Inc
Nonprofit profile at a glance
- EIN
- 237024735
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024, Form 990-EZ 2023
- Location
- Warwick, RI, USA
- Phone
- 9789798313
- Rating
- 63
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $234,392
- Expenses
- $242,651
- Assets
- $316,423
- Liabilities
- $37,321
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
21 people listed
Executive titles in this filing
- Peter Fanta (Executive Director (non-voting))
- Greg Wilkinson (ICSA President)
- Chloe Beach (ICSA Vice President)
Highest reported compensation
- Peter Fanta (Executive Director (non-voting)): $79,885 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The association is organized and shall be operated exclusively for educational purposes within the meaning of section 501 (c) (3) of the internal revenue code of 1954, as amended, and its activities as herein more fully described shall at all times be conducted in furtherance of such purposes: 1. The instruction, training and education of students in colleges and other institutions of higher education in north america in seamanship, safety and the skills and techniques of sailboat racing in intersectional, national and international intercollegiate competition. 2. The sponsorship, conduct, supervision, development and provision for sailboat competition among students in colleges and other institutions of higher education in north america for the purposes of improving and developing the sailboat racing techniques of such college students. 3. The sponsoring and conducting of meetings, discussions, seminars and lectures by means of which students in colleges and other institutions of high
What it reported doing in 2024
Organization and administration of six different national championship regattas in six different disciplines
Operating model
- Revenue model
- Other-operating. 95% of the money available for current operations came from other operating revenue.
- 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
SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 53
- Transparency & Controls: 82
- Accountability: 63
- Sustainability: 33
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 60.8%; rating input score 61
- Program expense ratio: 56.6%; rating input score 57
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 1 of 8 controls in place; rating input score 12
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -3.5%; rating input score 32; 32nd percentile among comparable filings
- Total-asset coverage ratio: 1.3; rating input score 48; 48th percentile among comparable filings
- Liabilities to assets ratio: 0.12; rating input score 25; 25th percentile among comparable filings
- Officer compensation ratio: 32.9%; rating input score 9; 9th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 5.7% per year; rating input score 100; 56th percentile among comparable filings
- Asset growth: 4.3% per year; rating input score 100; 44th percentile among comparable filings
Details
- Where the money goes: 60.8% of revenue deployed · 56.6% of spending went to programs
- Governance: 18 of 18 board members independent · 1 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $137K in reported program spending
- Leadership: top reported pay $80K · 21 people listed
- Consistency: 20 of 21 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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 — Accountability: Governance controls: 6 of 7 not reported.
- Review — Financial Efficiency: Program expense ratio scored 57/100.
- Moderate — Sustainability: Operating margin scored 32/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
- High — Sustainability: Officer compensation ratio scored 9/100.
- High — Sustainability: Liabilities to assets ratio scored 25/100.