International Star Class Yacht Racing Association Legacy Foundation

Nonprofit profile at a glance

EIN
814718335
IRS 990-EZ coverage
2021–2024
Forms available
Form 990-EZ 2024
Location
Edmonds, WA, USA
Phone
4257503464
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$65,978
Expenses
$16,040
Assets
$432,797
Liabilities
$90

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

Leadership & pay

5 people listed

Executive titles in this filing

  • LAWRENCE B WHIPPLE (PRESIDENT)
  • MICHAEL HECKY (EXECUTIVE DIRECTOR)

People named in this filing

  • LAWRENCE B WHIPPLE (PRESIDENT)
  • ALBERTO ZANETTI (TREASURER)
  • FRITHJOF KLEEN (SECRETARY)

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

The organization seeks to create a separate focus around membership development by devoting long term thinking around promotion and development star class sailboat racing throughout the world.

What it reported doing in 2024

The vintage gold cup is an annual event sanctioned by international star class yacht racing association through its rule 26.3 special events. It is sailed by eligible skippers in restored wooden boats of the star class and open to all fleets and members. The winner is awarded the class honor of a gold laurel wreath.

Operating model

Revenue model
Donor-supported. 65% of the money available for current operations came from contributions and gifts.
Distribution model
Transfer-based 990-EZ. The 990-EZ reports grants or member benefits, but it does not separate enough spending to show the nonprofit’s full delivery mix.

The verdict

SUPPORTED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 26
  • Transparency & Controls: 100
  • Sustainability: 85
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40.6%; rating input score 41
  • Program expense ratio: Limited

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: 75.7%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 26.98; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 50.6% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: -14.7% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: 7.1% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 40.6% of revenue deployed
  • Governance: Filed governance answers
  • Accomplishments: 3 filed program accomplishments
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2021 to 2024
  • 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.

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.