Civic Intelligence

12 Metre Yacht Development Foundation

990 • Fiscal year 2016 • EIN 06-6409216

Jan 01, 2016 to Dec 31, 2016 • Filed on May 15, 2017

Organization ProfileWWW.12MDF.COM
PO Box 964Southport, CT 06890

(203) 656-1182

Siviq Scores

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

Liabilities / Assets

86th percentile

0.31x

Higher debt load relative to assets than 86% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

95th percentile

1.01x

Higher debt load relative to revenue than 95% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

60th percentile

7.5%

Higher net margin than 60% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

51st percentile

2.0%

Faster asset growth than 51% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

16th percentile

-32%

Faster revenue growth than 16% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$472,494

Up $9,277 (+2.0%) from 2015

Net Assets

Up

$323,662

Up $11,070 (+3.5%) from 2015

Liabilities

Down

$148,832

Down $1,793 (-1.2%) from 2015

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin60th percentile

Revenue

Down

$147,152

Down $69,961 (-32%) from 2015

Expenses

Down

$136,082

Down $70,320 (-34%) from 2015

Net Income

Up

$11,070

Up $359 (+3.4%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth51st percentile

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

$800K$600K$400K$200K$0-$200KAssets 2011: $151,076Liabilities 2011: $162,768Net Assets 2011: -$11,6922011Assets 2012: $153,597Liabilities 2012: $178,1152012Assets 2013: $222,765Liabilities 2013: $159,922Net Assets 2013: $62,8432013Assets 2014: $247,431Liabilities 2014: $152,125Net Assets 2014: $95,3062014Assets 2015: $463,217Liabilities 2015: $150,625Net Assets 2015: $312,5922015Assets 2016: $472,494Liabilities 2016: $148,832Net Assets 2016: $323,6622016Assets 2017: $463,984Liabilities 2017: $148,832Net Assets 2017: $315,1522017Assets 2018: $454,344Liabilities 2018: $148,832Net Assets 2018: $305,5122018Assets 2019: $469,352Liabilities 2019: $148,832Net Assets 2019: $320,5202019Assets 2020: $457,324Liabilities 2020: $148,832Net Assets 2020: $308,4922020Assets 2021: $468,812Liabilities 2021: $327,832Net Assets 2021: $140,9802021Assets 2022: $401,507Liabilities 2022: $398,832Net Assets 2022: $2,6752022Assets 2023: $650,866Liabilities 2023: $385,956Net Assets 2023: $264,9102023Assets 2024: $656,716Liabilities 2024: $391,806Net Assets 2024: $264,9102024

Highlighted filing

2016

Assets$472,494
Liabilities$148,832
Net Assets$323,662
Open 2016 Filing

Operations Trend

Revenue Growth16th percentile

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

$1.0M$500K$0-$500KRevenue 2011: $185,000Expenses 2011: $167,105Net Income 2011: $17,8952011Revenue 2012: $167,014Expenses 2012: $179,840Net Income 2012: -$12,8262012Revenue 2013: $246,547Expenses 2013: $251,704Net Income 2013: -$5,1572013Revenue 2014: $198,813Expenses 2014: $166,350Net Income 2014: $32,4632014Revenue 2015: $217,113Expenses 2015: $206,402Net Income 2015: $10,7112015Revenue 2016: $147,152Expenses 2016: $136,082Net Income 2016: $11,0702016Revenue 2017: $140,417Expenses 2017: $148,707Net Income 2017: -$8,2902017Revenue 2018: $106,276Expenses 2018: $106,827Net Income 2018: -$5512018Revenue 2019: $197,039Expenses 2019: $180,193Net Income 2019: $16,8462019Revenue 2020: $76,639Expenses 2020: $72,655Net Income 2020: $3,9842020Revenue 2021: $60,431Expenses 2021: $76,226Net Income 2021: -$15,7952021Revenue 2022: $215,500Expenses 2022: $153,017Net Income 2022: $62,4832022Revenue 2023: $836,995Expenses 2023: $186,146Net Income 2023: $650,8492023Revenue 2024: $238,276Expenses 2024: $172,344Net Income 2024: $65,9322024

Highlighted filing

2016

Revenue$147,152
Expenses$136,082
Net Income$11,070
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 15, 2017
Return Version
2016v3.0
Gross Receipts
$147,152
Mission and Program Overview

Mission

Established for the acquisition, restoration and preservation of historic america's cup 12 metre yachts and their racing heritage

Established for the acquisition, restoration and preservation of historic america's cup 12 metre yacht and their racing heritage.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$452,506$452,506→ $0
Loans From Officers Directors$92,000$92,000→ $0
Cash and Non-Interest-Bearing Accounts$1,682$10,959▲ $9,277
Accounts Receivable$9,029$9,029→ $0
Total Assets$463,217$472,494▲ $9,277
Liabilities
Unsecured Notes Loans Payable$58,625$56,832▼ $1,793
Total Liabilities$150,625$148,832▼ $1,793
Net Assets / Fund Balance
Unrestricted Net Assets$312,592$323,662▲ $11,070
Total Net Assets Fund Balance$312,592$323,662▲ $11,070
Total Liabilities and Net Assets / Fund Balance$463,217$472,494▲ $9,277

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$120,000--
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Patrick SikorskiExecutive Director
Bob LabankaTrustee
Herb MarshallTrustee
Jeff NixonTrustee
Scott MacleodTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$147,152
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$147,152
Change in Net Assets
$11,070

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$136,082
Total Fundraising Expense$10,361
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$24,385$2,162$3,647$30,194
Other Expenses$1,252$14,091$3,475$1,252
Total Functional Expenses$107,493$18,228$10,361$136,082
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$92,000$92,000→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
12 Metre Yacht Development Foundation
EIN
06-6409216
Phone
2036561182
Address
PO BOX 964, Southport, CT 06890

Signing Officer

Name
Patrick Sikorski
Title
Executive Director
Phone
2036561182
Signed
2017-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patrick Sikorski
Formed
2006
Legal Domicile
Ct
Voting Board Members
5
Independent Board Members
0
Employees
0
Volunteers
101

Preparer

Firm
Hrb Tax Group Inc
Address
474 CEDAR LN, TEANECK, NJ 07666
Preparer
Norma Duckson
Phone
2018365221
Supplemental Narrative

Additional Explanations

Part III

“12m sail clinics & education programs - provides participants an opportunity for learning leadership skills and team building aboard america's cup class yachts including helmsmanshp, crew dynamics, navigation, safty and general seamanship.”

Raw XML Appendix322 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt012M SAIL CLINICS & EDUCATION PROGRAMS - PROVIDES PARTICIPANTS AN OPPORTUNITY FOR LEARNING LEADERSHIP SKILLS AND TEAM BUILDING ABOARD AMERICA'S CUP CLASS YACHTS INCLUDING HELMSMANSHP, CREW DYNAMICS, NAVIGATION, SAFTY AND GENERAL SEAMANSHIP.
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IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0312592
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0323662
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt058625
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt056832
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 964
IRS990/USAddress/CityNm0Southport
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006890
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.12MDF.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Patrick Sikorski
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum02036561182
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt012 METRE YACHT DEVELOPMENT FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt012M
ReturnHeader/Filer/EIN0066409216
ReturnHeader/Filer/PhoneNum02036561182
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 964
ReturnHeader/Filer/USAddress/CityNm0Southport
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006890
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId01923D0A5CC6E371FDDD4B0C742401F99BD642A04
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId01923D0A5CC6E371FDDD4B0C742401F99BD642A04
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt069.123.37.182
ReturnHeader/FilingSecurityInformation/IPDt02017-11-30
ReturnHeader/FilingSecurityInformation/IPTm021:20:02
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0431871840
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HRB TAX GROUP INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0474 CEDAR LN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0TEANECK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007666
ReturnHeader/PreparerPersonGrp/PhoneNum02018365221
ReturnHeader/PreparerPersonGrp/PreparationDt02017-11-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Norma Duckson
ReturnHeader/ReturnTs02017-12-01T02:58:31Z
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$472,494
Liabilities
$148,832
Net assets
$323,662
Revenue
$147,152
Expenses
$136,082
Net income
$11,070
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.57$3.92$2.65$2.38$1.72$0.66
2023Detailed filing. Detailed filing data is available for this year.$6.51$3.86$2.65$8.37$1.86$6.51
2022Detailed filing. Detailed filing data is available for this year.$4.02$3.99$0.03$2.16$1.53$0.62
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.69$3.28$1.41$0.60$0.76$0.16
2020Detailed filing. Detailed filing data is available for this year.$4.57$1.49$3.08$0.77$0.73$0.04
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.69$1.49$3.21$1.97$1.80$0.17
2018Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.54$1.49$3.06$1.06$1.07$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.64$1.49$3.15$1.40$1.49$0.08
2016Detailed filing. Detailed filing data is available for this year.$4.72$1.49$3.24$1.47$1.36$0.11
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.63$1.51$3.13$2.17$2.06$0.11
2014Detailed filing. Detailed filing data is available for this year.$2.47$1.52$0.95$1.99$1.66$0.32
2013Summary only. Only limited summary data is available for this year.$2.23$1.60$0.63$2.47$2.52$0.05
2012Summary only. Only limited summary data is available for this year.$1.54$1.78$1.67$1.80$0.13
2011Summary only. Only limited summary data is available for this year.$1.51$1.63$0.12$1.85$1.67$0.18