Sailing Yacht Research Foundation Inc

Nonprofit profile at a glance

EIN
202021318
IRS 990 coverage
2010–2022
Forms available
Form 990 2022
Location
Jamestown, RI, USA
Phone
6179688100
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Swimming & Other Water Recreation

Reported finances

Revenue
$314,479
Expenses
$377,292
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Jay Hansen (President, Treasurer and Secretary)
  • Larry Rosenfeld (Executive Director, Director)

Highest reported compensation

  • Jon Weisbaum (Technical Director, Director): $3,212 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To better understand, improve and share with the public the state of the art of sailboat performance and analysis and how it relates to rating rules.

What it reported doing in 2022

The sailing software development project is developing a boat performance and race committee application (app) to enhance both the sailboat crews' racing experience and understanding through tracking and analytical data and to provide race committees with a superior tool to provide fairer and more enjoyable racing.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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 - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 99
  • Transparency & Controls: 47
  • Accountability: 74
  • Sustainability: 12
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.7%; rating input score 99
  • Fundraising efficiency: $188.03 raised per $1 spent on fundraising; rating input score 91; 91st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -20%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0.9%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: -4.3% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: -4.8% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $372K in reported program spending
  • Leadership: top reported pay $3K · 9 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 42 of 42 current checks pass
  • Schedules: 7 filed schedules · includes major donors, foreign activity, and executive pay
  • Filing history: 11 filing years from 2010 to 2022
  • 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 — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.