Civic Intelligence

12 Metre Yacht Development Foundation

990 • Fiscal year 2022 • EIN 06-6409216

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 09, 2023

Organization ProfileWWW.12MYDF.ORG
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

94th percentile

0.99x

Higher debt load relative to assets than 94% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

1.85x

Higher debt load relative to revenue than 97% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

78th percentile

29%

Higher net margin than 78% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

27th percentile

-14%

Faster asset growth than 27% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

93rd percentile

257%

Faster revenue growth than 93% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$401,507

Down $67,305 (-14%) from 2021

Net Assets

Down

$2,675

Down $138,305 (-98%) from 2021

Liabilities

Up

$398,832

Up $71,000 (+22%) from 2021

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin78th percentile

Revenue

Up

$215,500

Up $155,069 (+257%) from 2021

Expenses

Up

$153,017

Up $76,791 (+101%) from 2021

Net Income

Up

$62,483

Up $78,278 (+496%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth27th 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

2022

Assets$401,507
Liabilities$398,832
Net Assets$2,675
Open 2022 Filing

Operations Trend

Revenue Growth93rd 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

2022

Revenue$215,500
Expenses$153,017
Net Income$62,483
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 9, 2023
Return Version
2022v5.0
Gross Receipts
$215,500
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$392,234▼ $60,272
Loans From Officers Directors$92,000$92,000→ $0
Cash and Non-Interest-Bearing Accounts$16,306$9,273▼ $7,033
Total Assets$468,812$401,507▼ $67,305
Liabilities
Unsecured Notes Loans Payable$235,832$306,832▲ $71,000
Total Liabilities$327,832$398,832▲ $71,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$140,980$2,675▼ $138,305
Total Liabilities and Net Assets / Fund Balance$468,812$401,507▼ $67,305

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$150,000--
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$215,500
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$203,000
Change in Net Assets
$62,483

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Boats and Planes1$150,000Appraisal
Total Noncash Contributions1$150,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$153,017
Total Fundraising Expense$21,164
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy-$22,200-$22,200
Other Expenses$4,105$1,971$2,750$4,721
Total Functional Expenses$76,806$55,047$21,164$153,017
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 35% controlled entity
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 J Sikorski
Title
Executive Director TRUSTE
Phone
2036561182
Signed
2023-10-09
Discuss with paid preparer
No

Organization Details

Formed
2006
Legal Domicile
Ct
Voting Board Members
5
Independent Board Members
0
Employees
0
Volunteers
100

Preparer

Firm
Hrb Tax Group Inc
Address
1301 MAIN ST STE 101B, KANSAS CITY, MO 64105
Preparer
Norma Duckson
Phone
8004725625
Supplemental Narrative

Additional Explanations

1 Charitable Giving

“Giving back to the community through cause related community foundations, live auctions, donations and educational visits”

1977 Nautor Swan 411 Sailboat Was Donated on August 1, 2022

“The sailboat was appraised at $150,000 with a replacement value of $675,000”

Raw XML Appendix329 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/ExplanationTxt0GIVING BACK TO THE COMMUNITY THROUGH CAUSE RELATED COMMUNITY FOUNDATIONS, LIVE AUCTIONS, DONATIONS AND EDUCATIONAL VISITS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SAILBOAT WAS APPRAISED AT $150,000 WITH A REPLACEMENT VALUE OF $675,000
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc01 CHARITABLE GIVING
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0468812
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0401507
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0235832
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0306832
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0353 GREENWICH AVE 3RD FL
IRS990/USAddress/CityNm0Greenwich
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006830
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.12MYDF.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Patrick J Sikorski
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director TRUSTE
ReturnHeader/BusinessOfficerGrp/PhoneNum02036561182
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt012 METRE YACHT DEVELOPMENT FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt012ME
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/PreparerFirmGrp/PreparerFirmEIN0431871840
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HRB TAX GROUP INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01301 MAIN ST STE 101B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0KANSAS CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd064105
ReturnHeader/PreparerPersonGrp/PhoneNum08004725625
ReturnHeader/PreparerPersonGrp/PreparationDt02023-12-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Norma Duckson
ReturnHeader/ReturnTs02023-12-13T14:52:28Z
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Patrick
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Sikorski
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$401,507
Liabilities
$398,832
Net assets
$2,675
Revenue
$215,500
Expenses
$153,017
Net income
$62,483
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
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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