Civic Intelligence

The C Thomas Clagett Jr Memorial Clinic & Regatta Inc

990 • Fiscal year 2023 • EIN 27-1789166

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 16, 2024

231 Indian AvenuePortsmouth, RI 02871

(401) 846-1353

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.00x

Higher debt load relative to assets than 33% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

34th percentile

0.00x

Higher debt load relative to revenue than 34% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

57th percentile

7.7%

Higher net margin than 57% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

63rd percentile

10%

Faster asset growth than 63% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

48th percentile

6.7%

Faster revenue growth than 48% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Up

$694,032

Up $64,069 (+10%) from 2022

Net Assets

Up

$693,779

Up $63,976 (+10%) from 2022

Liabilities

Up

$253

Up $93 (+58%) from 2022

Revenue

Up

$299,452

Up $18,880 (+6.7%) from 2022

Expenses

Down

$276,272

Down $39,036 (-12%) from 2022

Net Income

Up

$23,180

Up $57,916 (+167%) from 2022

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2011: $32,015Liabilities 2011: $0Net Assets 2011: $32,0152011Assets 2012: $69,077Liabilities 2012: $0Net Assets 2012: $69,0772012Assets 2014: $155,889Liabilities 2014: $0Net Assets 2014: $155,8892014Assets 2015: $248,478Liabilities 2015: $0Net Assets 2015: $248,4782015Assets 2016: $335,568Liabilities 2016: $0Net Assets 2016: $335,5682016Assets 2017: $477,257Liabilities 2017: $0Net Assets 2017: $477,2572017Assets 2018: $480,441Liabilities 2018: $0Net Assets 2018: $480,4412018Assets 2019: $557,928Liabilities 2019: $0Net Assets 2019: $557,9282019Assets 2020: $654,461Liabilities 2020: $400Net Assets 2020: $654,0612020Assets 2021: $712,758Liabilities 2021: $88Net Assets 2021: $712,6702021Assets 2022: $629,963Liabilities 2022: $160Net Assets 2022: $629,8032022Assets 2023: $694,032Liabilities 2023: $253Net Assets 2023: $693,7792023Assets 2024: $686,851Liabilities 2024: $1,095Net Assets 2024: $685,7562024

Highlighted filing

2023

Assets$694,032
Liabilities$253
Net Assets$693,779

Operations Trend

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

$400K$300K$200K$100K$0-$100KRevenue 2011: $95,918Expenses 2011: $84,171Net Income 2011: $11,7472011Revenue 2012: $121,283Expenses 2012: $84,221Net Income 2012: $37,0622012Revenue 2014: $187,680Expenses 2014: $167,045Net Income 2014: $20,6352014Revenue 2015: $258,564Expenses 2015: $161,971Net Income 2015: $96,5932015Revenue 2016: $208,675Expenses 2016: $127,366Net Income 2016: $81,3092016Revenue 2017: $298,210Expenses 2017: $166,621Net Income 2017: $131,5892017Revenue 2018: $276,440Expenses 2018: $231,348Net Income 2018: $45,0922018Revenue 2019: $303,815Expenses 2019: $277,846Net Income 2019: $25,9692019Revenue 2020: $258,424Expenses 2020: $198,711Net Income 2020: $59,7132020Revenue 2021: $356,452Expenses 2021: $236,541Net Income 2021: $119,9112021Revenue 2022: $280,572Expenses 2022: $315,308Net Income 2022: -$34,7362022Revenue 2023: $299,452Expenses 2023: $276,272Net Income 2023: $23,1802023Revenue 2024: $298,478Expenses 2024: $305,675Net Income 2024: -$7,1972024

Highlighted filing

2023

Revenue$299,452
Expenses$276,272
Net Income$23,180
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 16, 2024
Return Version
2023v5.0
Gross Receipts
$489,137
Mission and Program Overview

Mission

The clagett mission is to provide sailors with physical disabilities the opportunity to improve their skills and reach personal goals through world-class coaching and competition.

To foster national and international amateur competitive sailing opportunities for sailors with physical disabilities and help them achieve their individual goals in sailing through world-class coaching and competition.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$629,803$693,779▲ $63,976
Investments Other Securities$335,846$407,787▲ $71,941
Cash and Non-Interest-Bearing Accounts$186,151$204,197▲ $18,046
Land, Buildings, and Equipment, Net$107,966$82,048▼ $25,918
Total Assets$629,963$694,032▲ $64,069
Liabilities
Accounts Payable and Accrued Expenses$160$253▲ $93
Total Liabilities$160$253▲ $93
Net Assets / Fund Balance
Total Net Assets Fund Balance$629,803$693,779▲ $63,976
Total Liabilities and Net Assets / Fund Balance$629,963$694,032▲ $64,069

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$80,550$183,211-
Other Securities$407,787--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$201,378$28,566▲ $28,566-$257,105
2022$222,462$23,578▼ $44,662-$201,378
2021$192,212$16,592▲ $13,658-$222,462
2020$167,128-▲ $25,084-$192,212
2019$137,183$1,500▲ $28,445-$167,128
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$237,418
Program Service Revenue
$6,300
Investment Income
$7,976
Other Revenue
$47,758
All Other Contributions
$223,468
Change in Net Assets
$23,180
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$192,277
Salaries, Compensation, and Employee Benefits$62,537
Total Fundraising Expense$29,563
Grants and Similar Amounts Paid$21,458
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$83,619$22,521$17,056$123,196
Other Salaries and Wages$28,208$16,925$11,283$56,416
Insurance$29,108--$29,108
Depreciation Depletion$27,415--$27,415
Grants to Domestic Individuals$21,458--$21,458
Payroll Taxes$3,061$1,836$1,224$6,121
Fees for Service Investment Mgmnt Fees-$5,397-$5,397
Advertising-$3,686-$3,686
Information Technology-$2,413-$2,413
Fees for Services Legal-$500-$500
Travel-$406-$406
Office Expenses-$156-$156
Total Functional Expenses$192,869$53,840$29,563$276,272
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$46,372
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$43,600$29,650-$29,650
Silent Auction$16,722$16,722-$16,722
Total Events$60,322$46,372-$46,372
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
Backup withholding compliance
Yes
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
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 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Clagett Sailing
EIN
27-1789166
Phone
4018461353
Address
231 INDIAN AVENUE, PORTSMOUTH, RI 02871

Signing Officer

Name
Roberta M Benjamin
Title
Treasurer
Phone
4015560337
Signed
2024-10-16

Organization Details

Principal Officer
Stephanie Mclennan
Formed
2003
Legal Domicile
Ri
Voting Board Members
20
Independent Board Members
20
Employees
1
Volunteers
150

Preparer

Firm
Ford & Messere Inc
Address
3047 EAST MAIN RD SUITE 5, PORTSMOUTH, RI 02871-4207
Preparer
Steven H Shore
Phone
4016837760
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To foster national and international amateur competitive sailing opportunities for sailors with physical disabilities and help them achieve their individual goals in sailing through world-class coaching and competition.

Form 990, Page 1, Part I, Line 6

Clagett sailing board members and other volunteers volunteer their time in carrying out the mission of the organization, including assisting with fundraising, and onwater and onshore activities for the handicapped.

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

Clagett sailings celebrated its 21th anniversary this year. In 2023, clagett sailing presented its fleet racing clinic and regatta in newport, ri, a match racing clinic and regatta in oyster bay, new york, and a fleet racing regatta in oxford, maryland. Our programs have grown to also include the clagett boat grant program to make boats available to our sailors, and team clagett to assist our sailors in attending other events, both for sailors living with disabilities and open regattas. We were able to assist members of our team clagett to attend the 2023 2.4mr world championship held in tampa florida and we will help in sending some of the team to the allianz sailing world championship in the hague, netherlands in 2023. The largest fleet racing in 2023 was the 2.4mr class with 21 boats and they had 8 races. In the double handed martin 16 class there were 5 entries with 8 races. We had 3 outstanding coaches to teach our 31 sailors.

Form 990, Part IX, Line 11G

Operations 28,448 0 0 coaching 20,971 0 0 public relations and media 19,675 0 0 awards and gifts 6,652 0 0 fundraising 0 14,486 0 dues & fees 0 8,035 0 food/beverages 7,873 0 0 fundraiser 0 0 17,056 total 83,619 22,521 17,056

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IRS990/Desc0CLAGETT SAILINGS CELEBRATED ITS 21TH ANNIVERSARY THIS YEAR. IN 2023, CLAGETT SAILING PRESENTED ITS FLEET RACING CLINIC AND REGATTA IN NEWPORT, RI, A MATCH RACING CLINIC AND REGATTA IN OYSTER BAY, NEW YORK, AND A FLEET RACING REGATTA IN OXFORD, MARYLAND. OUR PROGRAMS HAVE GROWN TO ALSO INCLUDE THE CLAGETT BOAT GRANT PROGRAM TO MAKE BOATS AVAILABLE TO OUR SAILORS, AND TEAM CLAGETT TO ASSIST OUR SAILORS IN ATTENDING OTHER EVENTS, BOTH FOR SAILORS LIVING WITH DISABILITIES AND OPEN REGATTAS. WE WERE ABLE TO ASSIST MEMBERS OF OUR TEAM CLAGETT TO ATTEND THE 2023 2.4MR WORLD CHAMPIONSHIP HELD IN TAMPA FLORIDA AND WE WILL HELP IN SENDING SOME OF THE TEAM TO THE ALLIANZ SAILING WORLD CHAMPIONSHIP IN THE HAGUE, NETHERLANDS IN 2023. THE LARGEST FLEET RACING IN 2023 WAS THE 2.4MR CLASS WITH 21 BOATS AND THEY HAD 8 RACES. IN THE DOUBLE HANDED MARTIN 16 CLASS THERE WERE 5 ENTRIES WITH 8 RACES. WE HAD 3 OUTSTANDING COACHES TO TEACH OUR 31 SAILORS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18SECRETARY
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IRS990ScheduleA/TotalSupportAmt01289635
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0407787
IRS990ScheduleD/OtherSecuritiesGrp/Desc0MORGAN STANLEY MUTUAL FUNDS
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.87$0.01$6.86$2.98$3.06$0.07
2023Detailed filing. Detailed filing data is available for this year.$6.94$0.00$6.94$2.99$2.76$0.23
2022Detailed filing. Detailed filing data is available for this year.$6.30$0.00$6.30$2.81$3.15$0.35
2021Detailed filing. Detailed filing data is available for this year.$7.13$0.00$7.13$3.56$2.37$1.20
2020Detailed filing. Detailed filing data is available for this year.$6.54$0.00$6.54$2.58$1.99$0.60
2019Detailed filing. Detailed filing data is available for this year.$5.58$0.00$5.58$3.04$2.78$0.26
2018Detailed filing. Detailed filing data is available for this year.$4.80$0.00$4.80$2.76$2.31$0.45
2017Detailed filing. Detailed filing data is available for this year.$4.77$0.00$4.77$2.98$1.67$1.32
2016Detailed filing. Detailed filing data is available for this year.$3.36$0.00$3.36$2.09$1.27$0.81
2015Detailed filing. Detailed filing data is available for this year.$2.48$0.00$2.48$2.59$1.62$0.97
2014Detailed filing. Detailed filing data is available for this year.$1.56$0.00$1.56$1.88$1.67$0.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.69$0.00$0.69$1.21$0.84$0.37
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.00$0.32$0.96$0.84$0.12