Civic Intelligence

West End Racing Club

990 • Fiscal year 2018 • EIN 04-6064566

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

83 Commercial StreetProvincetown, MA 02657

(401) 487-1321

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

57th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

93rd percentile

54%

Higher net margin than 93% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

79th percentile

$5,360

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

87th percentile

65%

Faster asset growth than 87% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

28th percentile

-15%

Faster revenue growth than 28% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Up

$315,454

Up $124,061 (+65%) from 2017

Net Assets

Up

$315,454

Up $124,061 (+65%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue

Down

$123,866

Down $21,784 (-15%) from 2017

Expenses

Up

$56,614

Up $13,339 (+31%) from 2017

Net Income

Down

$67,252

Down $35,123 (-34%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2010: $212,876Liabilities 2010: $8,672Net Assets 2010: $204,2042010Assets 2017: $191,393Liabilities 2017: $0Net Assets 2017: $191,3932017Assets 2018: $315,454Liabilities 2018: $0Net Assets 2018: $315,4542018Assets 2019: $282,593Liabilities 2019: $0Net Assets 2019: $282,5932019Assets 2020: $301,318Liabilities 2020: $0Net Assets 2020: $301,3182020Assets 2021: $291,833Liabilities 2021: $0Net Assets 2021: $291,8332021Assets 2022: $285,791Liabilities 2022: $0Net Assets 2022: $285,7912022Assets 2023: $241,980Liabilities 2023: $0Net Assets 2023: $241,9802023Assets 2024: $292,680Liabilities 2024: $0Net Assets 2024: $292,6802024

Highlighted filing

2018

Assets$315,454
Liabilities$0
Net Assets$315,454

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150K$100K$50K$0-$50K-$100KRevenue 2010: $30,205Expenses 2010: $27,142Net Income 2010: $3,0632010Revenue 2017: $145,650Expenses 2017: $43,275Net Income 2017: $102,3752017Revenue 2018: $123,866Expenses 2018: $56,614Net Income 2018: $67,2522018Revenue 2019: $32,928Expenses 2019: $70,755Net Income 2019: -$37,8272019Revenue 2020: $31,416Expenses 2020: $19,280Net Income 2020: $12,1362020Revenue 2021: $37,613Expenses 2021: $47,653Net Income 2021: -$10,0402021Revenue 2022: $49,253Expenses 2022: $44,498Net Income 2022: $4,7552022Revenue 2023: $33,139Expenses 2023: $83,708Net Income 2023: -$50,5692023Revenue 2024: $119,129Expenses 2024: $70,207Net Income 2024: $48,9222024

Highlighted filing

2018

Revenue$123,866
Expenses$56,614
Net Income$67,252
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$123,866
Mission and Program Overview

Mission

The purpose of the corporation shall be to provide low-cost, affordable instruction in sailing and sailboat racing in a safe and fun environment to all children of qualifying age who desire to participate in the towns of provincetown and truro massachusetts and to foster in young sailors an appreciation of the town's sailing heritage and marine environment and a desire to become responsible and caring adult members of their communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$211,375$262,960▲ $51,585
Investments in Publicly Traded Securities$49,484$48,598▼ $886
Land, Buildings, and Equipment, Net$3,200$3,200→ $0
Inventories for Sale or Use-$696-
Total Assets$264,059$315,454▲ $51,395
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$264,059$315,454▲ $51,395
Total Net Assets Fund Balance$264,059$315,454▲ $51,395
Total Liabilities and Net Assets / Fund Balance$264,059$315,454▲ $51,395

Asset Categories

AssetBook ValueDepreciationBasis
Buildings-$160,000$160,000
Other Land Buildings-$11,940$11,940
Land$3,200-$3,200
Compensation and Service Providers

Employees

NameTitleBaseTotal
Roberta FitzsimmonsAttorney$5,360$5,360
Arthur J SantosPresident$4,000$4,000
Dorothea SantosTreasurer$4,000$4,000
John E MedeirosDirector$3,010$3,010

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$97,403
Program Service Revenue
$18,230
Investment Income
$4,923
Other Revenue
$3,310
All Other Contributions
$10,943
Change in Net Assets
$67,252
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$38,752
Salaries, Compensation, and Employee Benefits$17,862
Total Fundraising Expense$1,557
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$15,965--$15,965
Depreciation Depletion$11,940--$11,940
Fees for Services Management-$8,000-$8,000
Fees for Services Legal-$5,360-$5,360
Insurance$559$3,949-$4,508
Fees for Services Accounting$610$2,400-$3,010
Fees for Services Other$2,320$281-$2,601
Payroll Taxes$1,897--$1,897
Other Expenses--$1,557$1,557
Advertising-$1,500-$1,500
Office Expenses-$226-$226
Information Technology-$50-$50
Total Functional Expenses$33,291$21,766$1,557$56,614
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$3,310
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Go Fund Me Fund$72,855---
Benefit-restaur$13,605---
Total Events$86,460---
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Arthur j santos dorothea m santos president treasurer brother/sister arthur j santos francis john santos president director brothers arthur j santos james f santos president director brothers dorothea m santos francis john santos treasurer director sister/brother dorothea m santos james f santos treasurer director sister/brother

Form 990, Page 6, Part VI, Line 6

MEMBERS

Form 990, Page 6, Part VI, Line 7A

BY MAJORITY OF THE BOARD

Form 990, Page 6, Part VI, Line 9

Francis john santos 1 good templar place provincetown, ma 02657 dorothea santos 103 west street east greenwich, ri 02818 candice collins-boden 4 blue fin lane north truro, ma 02652 janet greenquest 1990 colusa way san jose, ca 95130 arthur j santos p.o. Box 585 truro, ma 02666 leonard e enos iii 32 conant street provincetown, ma 02657 aaron kacergis 35 run way rd eastham, ma 02642 rex mckinsey 3 south highland rd north truro, ma john e medeiros 11 oak drive provincetown, ma 02657 james f santos 94 commercial street provincetown, ma 02657 roberta fitzsimmons 39 rockland ave 24 malden, ma 02148

Form 990, Page 6, Part VI, Line 11B

OFFICERS REVIEWED RETURN

Form 990, Page 6, Part VI, Line 12C

Any perceived conflict of interest will subject member to resignation

Form 990, Page 6, Part VI, Line 15B

Board of directors review and approve any compensation of officers or key employees

Form 990, Page 6, Part VI, Line 19

Available upon request and also on the office of the attorney general of tghe commonwealth of massachusetts

Filing and Contact Details

Filer

Filer Name
WEST END RACING CHILDREN'S
EIN
04-6064566
Phone
4014871321
Address
83 COMMERCIAL STREET, PROVINCETOWN, MA 02657
Doing Business As
Werccsinc

Signing Officer

Name
Arthur J Santos
Title
President
Phone
5084879633
Signed
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Arthur J Santos
Formed
1953
Legal Domicile
Ma
Voting Board Members
11
Independent Board Members
0
Employees
7
Volunteers
15

Preparer

Firm
John E Medeiros CPA
Address
PO BOX 641, PROVINCETOWN, MA 02657
Preparer
John E Medeiros CPA
Phone
5084871020
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

WERCCS,INC

FORM 990 - ORGANIZATION'S MISSION

The purpose of the corporation shall be to provide low-cost, affordable instruction in sailing and sailboat racing in a safe and fun environment to all children of qualifying age who desire to participate in the towns of provincetown and truro massachusetts and to foster in young sailors an appreciation of the town's sailing heritage and marine environment and a desire to become responsible and caring adult members of their communities.

Form 990, Page 1, Part I, Line 6

Help in teaching sailing and conducting the business of the corporation

Form 990, Page 2, Part III, Line 4D

Expenses are associated with the organization's ability to conduct the exempt purpose and mission

Form 990, Part XI, Line 9

Realized loss on investments -3,917 purchase of assets -11,940 total -15,857 prior year total cash & investments and fund balance was changed due to current knowledge of another account that existed and was inadvertently not included in the total for 12/31/17

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WERCCS,INC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PURPOSE OF THE CORPORATION SHALL BE TO PROVIDE LOW-COST, AFFORDABLE INSTRUCTION IN SAILING AND SAILBOAT RACING IN A SAFE AND FUN ENVIRONMENT TO ALL CHILDREN OF QUALIFYING AGE WHO DESIRE TO PARTICIPATE IN THE TOWNS OF PROVINCETOWN AND TRURO MASSACHUSETTS AND TO FOSTER IN YOUNG SAILORS AN APPRECIATION OF THE TOWN'S SAILING HERITAGE AND MARINE ENVIRONMENT AND A DESIRE TO BECOME RESPONSIBLE AND CARING ADULT MEMBERS OF THEIR COMMUNITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2HELP IN TEACHING SAILING AND CONDUCTING THE BUSINESS OF THE CORPORATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EXPENSES ARE ASSOCIATED WITH THE ORGANIZATION'S ABILITY TO CONDUCT THE EXEMPT PURPOSE AND MISSION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ARTHUR J SANTOS DOROTHEA M SANTOS PRESIDENT TREASURER BROTHER/SISTER ARTHUR J SANTOS FRANCIS JOHN SANTOS PRESIDENT DIRECTOR BROTHERS ARTHUR J SANTOS JAMES F SANTOS PRESIDENT DIRECTOR BROTHERS DOROTHEA M SANTOS FRANCIS JOHN SANTOS TREASURER DIRECTOR SISTER/BROTHER DOROTHEA M SANTOS JAMES F SANTOS TREASURER DIRECTOR SISTER/BROTHER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BY MAJORITY OF THE BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7FRANCIS JOHN SANTOS 1 GOOD TEMPLAR PLACE PROVINCETOWN, MA 02657 DOROTHEA SANTOS 103 WEST STREET EAST GREENWICH, RI 02818 CANDICE COLLINS-BODEN 4 BLUE FIN LANE NORTH TRURO, MA 02652 JANET GREENQUEST 1990 COLUSA WAY SAN JOSE, CA 95130 ARTHUR J SANTOS P.O. BOX 585 TRURO, MA 02666 LEONARD E ENOS III 32 CONANT STREET PROVINCETOWN, MA 02657 AARON KACERGIS 35 RUN WAY RD EASTHAM, MA 02642 REX MCKINSEY 3 SOUTH HIGHLAND RD NORTH TRURO, MA JOHN E MEDEIROS 11 OAK DRIVE PROVINCETOWN, MA 02657 JAMES F SANTOS 94 COMMERCIAL STREET PROVINCETOWN, MA 02657 ROBERTA FITZSIMMONS 39 ROCKLAND AVE 24 MALDEN, MA 02148
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8OFFICERS REVIEWED RETURN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9ANY PERCEIVED CONFLICT OF INTEREST WILL SUBJECT MEMBER TO RESIGNATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10BOARD OF DIRECTORS REVIEW AND APPROVE ANY COMPENSATION OF OFFICERS OR KEY EMPLOYEES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11AVAILABLE UPON REQUEST AND ALSO ON THE OFFICE OF THE ATTORNEY GENERAL OF TGHE COMMONWEALTH OF MASSACHUSETTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12REALIZED LOSS ON INVESTMENTS -3,917 PURCHASE OF ASSETS -11,940 TOTAL -15,857 PRIOR YEAR TOTAL CASH & INVESTMENTS AND FUND BALANCE WAS CHANGED DUE TO CURRENT KNOWLEDGE OF ANOTHER ACCOUNT THAT EXISTED AND WAS INADVERTENTLY NOT INCLUDED IN THE TOTAL FOR 12/31/17
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 - ORGANIZATION'S MISSION
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