Lauderdale Yacht Sailing Foundation Inc

Nonprofit profile at a glance

EIN
271035675
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-EZ 2012, Form 990-N 2009
Location
Fort Lauderdale, FL, USA
Phone
9545252842
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Amateur Sports

Reported finances

Revenue
$407,411
Expenses
$279,006
Assets
$1,009,083
Liabilities
$0

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

Leadership & pay

21 people listed

People named in this filing

  • AUSTIN PAYNE (ASST. TREASURER)
  • GREG BELLOWS (DIRECTOR)
  • KARL RYDER (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o

What it reported doing in 2024

The organization provides financial assistance to young people to promote access to educational and competitive sailing opportunities. Grants are awarded through an application and review process and are used to offset out-of-pocket costs such as program tuition, coaching fees, competition entry fees, travel, and required equipment. By reducing these financial barriers, the program enables youth sailors of varying economic backgrounds to participate in organized sailing instruction, training, and regattas at the local, regional, and national levels. In fiscal year 2024 the foundation awarded 103 individual scholarships, 11 competition grants and one special grant.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 55% for direct work, and 45% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 85
  • Accountability: 51
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.3%; rating input score 69
  • Program expense ratio: 94.6%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 84.6%; rating input score 85; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 96.6%; rating input score 97; 56th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 31.5%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 3.62; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 25.2% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 69.3% of revenue deployed · 94.6% of spending went to programs
  • Governance: 14 of 21 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $264K in reported program spending
  • Leadership: top reported pay $0 · 21 people listed
  • Consistency: 20 of 22 current checks pass · 2 findings to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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: 4 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.