Civic Intelligence

Wayzata Sailing Foundation

990 • Fiscal year 2020 • EIN 41-1986402

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 27, 2021

Organization ProfileWWW.WAYZATASAILING.ORG
PO Box 768Wayzata, MN 55391

(952) 476-5875

Siviq Scores

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

Liabilities / Assets

40th percentile

0.05x

Higher debt load relative to assets than 40% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

77th percentile

0.49x

Higher debt load relative to revenue than 77% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

18th percentile

-15%

Higher net margin than 18% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

47th percentile

$51,800

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 12.3% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

32nd percentile

-0.0%

Faster asset growth than 32% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

4th percentile

-65%

Faster revenue growth than 4% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets40th percentile

Assets

Down

$4,238,531

Down $1,924 (-0.0%) from 2019

Net Assets

Down

$4,031,446

Down $56,187 (-1.4%) from 2019

Liabilities

Up

$207,085

Up $54,263 (+36%) from 2019

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin18th percentile

Revenue

Down

$420,559

Down $771,348 (-65%) from 2019

Expenses

Down

$483,714

Down $35,883 (-6.9%) from 2019

Net Income

Down

-$63,155

Down $735,465 (-109%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $2,368,955Liabilities 2010: $743,153Net Assets 2010: $1,625,8022010Assets 2011: $2,308,948Liabilities 2011: $778,121Net Assets 2011: $1,530,8272011Assets 2012: $2,593,043Liabilities 2012: $738,845Net Assets 2012: $1,854,1982012Assets 2013: $2,527,602Liabilities 2013: $597,279Net Assets 2013: $1,930,3232013Assets 2014: $2,536,294Liabilities 2014: $611,716Net Assets 2014: $1,924,5782014Assets 2015: $2,476,841Liabilities 2015: $398,499Net Assets 2015: $2,078,3422015Assets 2016: $2,514,798Liabilities 2016: $382,451Net Assets 2016: $2,132,3472016Assets 2017: $2,523,756Liabilities 2017: $23,932Net Assets 2017: $2,499,8242017Assets 2018: $3,587,511Liabilities 2018: $187,091Net Assets 2018: $3,400,4202018Assets 2019: $4,240,455Liabilities 2019: $152,822Net Assets 2019: $4,087,6332019Assets 2020: $4,238,531Liabilities 2020: $207,085Net Assets 2020: $4,031,4462020Assets 2021: $4,353,109Liabilities 2021: $93,023Net Assets 2021: $4,260,0862021Assets 2022: $4,238,377Liabilities 2022: $86,875Net Assets 2022: $4,151,5022022Assets 2023: $4,189,954Liabilities 2023: $67,882Net Assets 2023: $4,122,0722023Assets 2024: $4,156,227Liabilities 2024: $71,462Net Assets 2024: $4,084,7652024

Highlighted filing

2020

Assets$4,238,531
Liabilities$207,085
Net Assets$4,031,446
Open 2020 Filing

Operations Trend

Revenue Growth4th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2010: $312,292Expenses 2010: $472,648Net Income 2010: -$160,3562010Expenses 2011: $426,8682011Expenses 2012: $480,3572012Revenue 2013: $540,990Expenses 2013: $464,865Net Income 2013: $76,1252013Revenue 2014: $435,148Expenses 2014: $440,893Net Income 2014: -$5,7452014Revenue 2015: $502,874Expenses 2015: $349,110Net Income 2015: $153,7642015Revenue 2016: $392,365Expenses 2016: $338,360Net Income 2016: $54,0052016Revenue 2017: $737,867Expenses 2017: $370,390Net Income 2017: $367,4772017Revenue 2018: $1,321,848Expenses 2018: $406,169Net Income 2018: $915,6792018Revenue 2019: $1,191,907Expenses 2019: $519,597Net Income 2019: $672,3102019Revenue 2020: $420,559Expenses 2020: $483,714Net Income 2020: -$63,1552020Revenue 2021: $724,615Expenses 2021: $509,537Net Income 2021: $215,0782021Revenue 2022: $607,591Expenses 2022: $690,318Net Income 2022: -$82,7272022Revenue 2023: $601,837Expenses 2023: $651,441Net Income 2023: -$49,6042023Revenue 2024: $712,379Expenses 2024: $756,805Net Income 2024: -$44,4262024

Highlighted filing

2020

Revenue$420,559
Expenses$483,714
Net Income-$63,155
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 27, 2021
Return Version
2020v4.1
Gross Receipts
$454,096
Mission and Program Overview

Mission

The mission of the wayzata sailing foundation is to increase the education of, understanding of, and appreciation of sailing both in competitive racing and recreational cruising. The foundation undertakes fundraising to:support public sailing clinics for students in the local community. Promote community youth sailing by providing boats, accessories and instruction in affordable classes for students who otherwise would not have such an opportunity. Support other non-profit and 501(c)3 organizations that introduce and further the enjoyment of sailing and sailboat racing for youth through education. Underwrite training, education and competition for non-profit youth sailing teams. The wayzata sailing foundation does not and will not discriminate in any manner with respect to race, creed, national or cultural origin, gender, or sexual preference.

The wayzata sailing foundation's purpose is to promote sailing for everyone by providing access to facilities, and sailing instructions to people of all backgrounds and skill levels.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$4,087,633$4,031,446▼ $56,187
Land, Buildings, and Equipment, Net$3,850,282$3,754,661▼ $95,621
Savings and Temporary Cash Investments$145,571$333,992▲ $188,421
Investments in Publicly Traded Securities$125,360$131,378▲ $6,018
Pledges and Grants Receivable$102,742$2,000▼ $100,742
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$4,240,455$4,238,531▼ $1,924
Other Assets Total$16,500$16,500→ $0
Liabilities
Accounts Payable and Accrued Expenses$129,192$144,228▲ $15,036
Other Liabilities$250$39,750▲ $39,500
Unsecured Notes Loans Payable$23,380$23,107▼ $273
Total Liabilities$152,822$207,085▲ $54,263
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,087,633$4,031,446▼ $56,187
Total Liabilities and Net Assets / Fund Balance$4,240,455$4,238,531▼ $1,924

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,788,993$81,874-
Land$1,861,167--
Equipment$104,501$506,065-

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$142,921$24,460▲ $112,784$24,936$255,230
2019$827,607$400,000▲ $19,255$1,101,191$142,921
2018$146,383$640,000▲ $57,070-$827,607
2017$122,132$20,000▲ $4,251-$146,383
2016$106,639-▲ $15,493-$122,132
Compensation and Service Providers
Top Officer Pay47th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Matthew ThompsonExecutive DirectorPT$51,800$51,800

Board Members and Trustees

NameTitle
Rob HuntPresident
Oliver FrostVice President
Brighid HansenDirector
Ernest BrodyDirector
George HansenDirector
Jana SimmonsDirector
Ken BrentonDirector
Kristyn MullinDirector
Larry AubuchonDirector
Robert FosterDirector
Robb HarrissSecretary
James BeltzTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$135,552
Program Service Revenue
$256,234
Investment Income
$5,445
Other Revenue
$23,328
All Other Contributions
$135,552
Change in Net Assets
$-63,155
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$260,611
Salaries, Compensation, and Employee Benefits$202,891
Total Fundraising Expense$41,269
Grants and Similar Amounts Paid$20,212
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$80,466$39,551$16,366$136,383
Depreciation Depletion$72,853$8,095-$80,948
Current Officers, Directors, Trustees, and Key Employees$25,900$25,900-$51,800
Fees for Services Accounting$5,004$18,765$17,931$41,700
Insurance$11,469$11,469-$22,938
Grants to Domestic Individuals$20,212--$20,212
Payroll Taxes$8,825$4,265$1,618$14,708
All Other Expenses$2,553$6,194$4,592$13,339
Advertising$7,739$188-$7,927
Other Expenses$3,355$2,636$474$5,991
Interest-$3,735-$3,735
Office Expenses$2,873$288$288$3,449
Total Functional Expenses$317,613$124,832$41,269$483,714
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$8,300
Fundraising Direct Expenses$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Ppp Loan$39,500
Deposit$250
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
Yes
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, Part VI, Section A, Line 6

“The organization's membership consists of all dues paying members in good standing.”

Form 990, Part VI, Section A, Line 7A

“The members of wayzata sailing foundation elects all members of the board of directors.”

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed and signed by the treasurer.”

Form 990, Part VI, Section B, Line 12C

“The organization monitors and enforces the conflict of interest policy through regular inquiries made by the board of directors.”

Form 990, Part VI, Section B, Line 15

“Compensation of key employees is made by the board of directors.”

Form 990, Part VI, Section C, Line 19

“Bylaws, code of ethics, diversity statement, conflicts of interest and financial statements are available by request only.”

Filing and Contact Details

Filer

Filer Name
Wayzata Sailing Foundation
EIN
41-1986402
Phone
9524765875
Address
PO BOX 768, WAYZATA, MN 55391
Doing Business As
Wayzata Community Sailing Center

Signing Officer

Name
James Beltz
Title
Treasurer
Phone
9524765875
Signed
2021-09-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rob Hunt
Formed
2000
Legal Domicile
Mn
Voting Board Members
12
Independent Board Members
12
Employees
24
Volunteers
17

Preparer

Firm
Copeland Buhl & Company Pllp
Address
800 EAST WAYZATA BOULEVARD STE 300, WAYZATA, MN 55391-1766
Preparer
Mitchell Giese
Phone
9524767100
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

“To help defray costs related to college races and provide sailing scholarships to individuals.”

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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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IRS990/MissionDesc0THE MISSION OF THE WAYZATA SAILING FOUNDATION IS TO INCREASE THE EDUCATION OF, UNDERSTANDING OF, AND APPRECIATION OF SAILING BOTH IN COMPETITIVE RACING AND RECREATIONAL CRUISING. THE FOUNDATION UNDERTAKES FUNDRAISING TO: SUPPORT PUBLIC SAILING CLINICS FOR STUDENTS IN THE LOCAL COMMUNITY.PROMOTE COMMUNITY YOUTH SAILING BY PROVIDING BOATS, ACCESSORIES AND INSTRUCTION IN AFFORDABLE CLASSES FOR STUDENTS WHO OTHERWISE WOULD NOT HAVE SUCH AN OPPORTUNITY.SUPPORT OTHER NON-PROFIT AND 501(C)3 ORGANIZATIONS THAT INTRODUCE AND FURTHER THE ENJOYMENT OF SAILING AND SAILBOAT RACING FOR YOUTH THROUGH EDUCATION.UNDERWRITE TRAINING, EDUCATION AND COMPETITION FOR NON-PROFIT YOUTH SAILING TEAMS.THE WAYZATA SAILING FOUNDATION DOES NOT AND WILL NOT DISCRIMINATE IN ANY MANNER WITH RESPECT TO RACE, CREED, NATIONAL OR CULTURAL ORIGIN, GENDER, OR SEXUAL PREFERENCE.
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0136383
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01618
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04265
IRS990/PayrollTaxesGrp/ProgramServicesAmt08825
IRS990/PayrollTaxesGrp/TotalAmt014708
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IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
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IRS990/ProfessionalFundraisingInd00
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01191907
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-63155
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt04187
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt05310
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0271754
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0293677
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IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus4YearsAmt010760
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt020943
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,238,531
Liabilities
$207,085
Net assets
$4,031,446
Revenue
$420,559
Expenses
$483,714
Net income
-$63,155
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.16$0.07$4.08$0.71$0.76$0.04
2023Detailed filing. Detailed filing data is available for this year.$4.19$0.07$4.12$0.60$0.65$0.05
2022Detailed filing. Detailed filing data is available for this year.$4.24$0.09$4.15$0.61$0.69$0.08
2021Detailed filing. Detailed filing data is available for this year.$4.35$0.09$4.26$0.72$0.51$0.22
2020Detailed filing. Detailed filing data is available for this year.$4.24$0.21$4.03$0.42$0.48$0.06
2019Detailed filing. Detailed filing data is available for this year.$4.24$0.15$4.09$1.19$0.52$0.67
2018Detailed filing. Detailed filing data is available for this year.$3.59$0.19$3.40$1.32$0.41$0.92
2017Detailed filing. Detailed filing data is available for this year.$2.52$0.02$2.50$0.74$0.37$0.37
2016Detailed filing. Detailed filing data is available for this year.$2.51$0.38$2.13$0.39$0.34$0.05
2015Detailed filing. Detailed filing data is available for this year.$2.48$0.40$2.08$0.50$0.35$0.15
2014Detailed filing. Detailed filing data is available for this year.$2.54$0.61$1.92$0.44$0.44$0.01
2013Detailed filing. Detailed filing data is available for this year.$2.53$0.60$1.93$0.54$0.46$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.59$0.74$1.85$0.48
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.31$0.78$1.53$0.43
2010Summary only. Only limited summary data is available for this year.$2.37$0.74$1.63$0.31$0.47$0.16