Inter-Collegiate Sailing Association of North America Inc.

“Equipment sales 3,600 certificate sales 520 miscellaneous 500 total 4,620”

“Expenses awards/trophies 6,433 bank and cc fees 1,374 championship support 18,530 conference speaker 2,100 consultant fee 12,500 development clinics 2,000 development scoring 3,375 development website 5,958 honoraria 4,600 insurance 5,146 meeting 48 office 2,151 post season competition g 7,800 professional fees 1,464 pr/media prof/fullfillmen 23,520 travel 5,494 total 102,493”

“Unrealized gain on investments 26,561”

“Accounts receivable 1,200 0 inventories for sale or use 706 0 prepaid expenses and deferred charges 2,391 6,940 total 4,297 6,940”

“Accounts payable and accrued expenses 0 3,756”

“The association is organized and shall be operated exclusively for educational purposes within the meaning of section 501 (c) (3) of the internal revenue code of 1954, as amended, and it's activities as herein more fully described shall at all times be conducted in furtherance of such purposes: 1. The instruction, training and education of students in colleges and other institutions of higher education in north america in seamanship, safety and the skills ans techniques of sailboat racing in intersectional, national and international intercollegiate competition. 2. The sponsorship, conduct, supervision, development and provision for sailboat competition among students in colleges and other institutions of higher education in north america for the purposes of improving and developing the sailboat racing techniques of such college students. 3. The sponsoring and conducting of meetings, discussions, seminars and lectures by means of which students in colleges and other institutions of higher education in north america may be instructed in the skillful, proper, and safe handling and racing of sailboats, including techniques of helmsmanship, racing tactics and knowledge of the racing rules. 4. The formation and encouragement of regional organizations which have said educational purposes and which conduct activities similar to those of this association. 5. The improvement, advancement and encouragement of sailboat racing at colleges and other institutions of higher education in north america and the development of the high ideals and sportsmanship preeminent in sailboat racing competition. 6. By means of the foregoing activities, the idetifying, developing and training of potential representatives for u.s. Sailing events, olympic, pan american and other international competition.”