Civic Intelligence

Laser Class Association Inc.

990 • Fiscal year 2021 • EIN 46-3045188

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

Organization Profilewww.laserinternational.org
PO Box 49250Austin, TX 78765

(512) 270-6727

Siviq Scores

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

Liabilities / Assets

65th percentile

0.17x

Higher debt load relative to assets than 65% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

53rd percentile

0.11x

Higher debt load relative to revenue than 53% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

48th percentile

11%

Higher net margin than 48% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

62nd percentile

16%

Faster asset growth than 62% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

90th percentile

130%

Faster revenue growth than 90% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$1,155,017

Up $156,700 (+16%) from 2020

Net Assets

Up

$957,051

Up $168,116 (+21%) from 2020

Liabilities

Down

$197,966

Down $11,416 (-5.5%) from 2020

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin48th percentile

Revenue

Up

$1,842,561

Up $1,042,740 (+130%) from 2020

Expenses

Up

$1,632,583

Up $858,088 (+111%) from 2020

Net Income

Up

$209,978

Up $184,652 (+729%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

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

$3.0M$2.0M$1.0M$0Assets 2013: $328,593Liabilities 2013: $4,171Net Assets 2013: $324,4222013Assets 2014: $800,298Liabilities 2014: $42,681Net Assets 2014: $757,6172014Assets 2015: $937,453Liabilities 2015: $129,197Net Assets 2015: $808,2562015Assets 2016: $1,003,361Liabilities 2016: $161,600Net Assets 2016: $841,7612016Assets 2017: $1,103,875Liabilities 2017: $110,908Net Assets 2017: $992,9672017Assets 2018: $1,088,955Liabilities 2018: $129,935Net Assets 2018: $959,0202018Assets 2019: $1,654,582Liabilities 2019: $889,706Net Assets 2019: $764,8762019Assets 2020: $998,317Liabilities 2020: $209,382Net Assets 2020: $788,9352020Assets 2021: $1,155,017Liabilities 2021: $197,966Net Assets 2021: $957,0512021Assets 2022: $1,638,931Liabilities 2022: $598,757Net Assets 2022: $1,040,1742022Assets 2023: $2,380,669Liabilities 2023: $1,175,669Net Assets 2023: $1,205,0002023Assets 2024: $2,592,184Liabilities 2024: $1,254,012Net Assets 2024: $1,338,1722024

Highlighted filing

2021

Assets$1,155,017
Liabilities$197,966
Net Assets$957,051
Open 2021 Filing

Operations Trend

Revenue Growth90th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $451,654Expenses 2013: $127,232Net Income 2013: $324,4222013Revenue 2014: $1,543,770Expenses 2014: $1,110,574Net Income 2014: $433,1962014Revenue 2015: $975,334Expenses 2015: $924,695Net Income 2015: $50,6392015Revenue 2016: $1,468,100Expenses 2016: $1,434,554Net Income 2016: $33,5462016Revenue 2017: $1,793,905Expenses 2017: $1,649,648Net Income 2017: $144,2572017Revenue 2018: $1,031,100Expenses 2018: $1,064,985Net Income 2018: -$33,8852018Revenue 2019: $872,642Expenses 2019: $1,071,059Net Income 2019: -$198,4172019Revenue 2020: $799,821Expenses 2020: $774,495Net Income 2020: $25,3262020Revenue 2021: $1,842,561Expenses 2021: $1,632,583Net Income 2021: $209,9782021Revenue 2022: $2,085,191Expenses 2022: $2,002,528Net Income 2022: $82,6632022Revenue 2023: $2,209,523Expenses 2023: $2,245,846Net Income 2023: -$36,3232023Revenue 2024: $2,416,029Expenses 2024: $2,286,928Net Income 2024: $129,1012024

Highlighted filing

2021

Revenue$1,842,561
Expenses$1,632,583
Net Income$209,978
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.0
Gross Receipts
$1,914,702
Mission and Program Overview

Mission

To foster national and international amateur athletic competition in the sport of sailing Laser class sailboats including conducting national and international sports competitions for Olympic athletes and athletes seeking to qualify for the Olympic Games. To assure the strict "one-design" nature of the Laser class sailboat and foster communication among the members of the organization.

To foster national and international amateur athletic competition in the sport of sailing Laser class sailboats including conducting national and international sports competitions for Olympic athletes and athletes seeking to qualify for the Olympic Games.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$747,073$957,051▲ $209,978
Savings and Temporary Cash Investments$793,676$878,089▲ $84,413
Cash and Non-Interest-Bearing Accounts$123,005$258,665▲ $135,660
Accounts Receivable$9,282$18,263▲ $8,981
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0--
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$925,963$1,155,017▲ $229,054
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$75,212$178,386▲ $103,174
Accounts Payable and Accrued Expenses$103,678$19,580▼ $84,098
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0--
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$178,890$197,966▲ $19,076
Net Assets / Fund Balance
Total Net Assets Fund Balance$747,073$957,051▲ $209,978
Total Liabilities and Net Assets / Fund Balance$925,963$1,155,017▲ $229,054
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Tracy UsherPresident
Hugh LeicesterVice President
Eric FaustExecutive Secretary
Nick PageTreasurer
Aileen LooWorld Council Member
Alexandra BehrensWorld Council Member
Andy RoyWorld Council Member
Carlos PalomboWorld Council Member
Jean-Luc MichonWorld Council Member
Ken HurlingWorld Council Member
Peter HedgeWorld Council Member
Takao OtaniWorld Council Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Ocean Sports Consulting LLCManagement services5900 Balcones Dr Ste 100, Austin, TX 78731$147,948
Revenue and Support

Revenue Composition

Contributions and Grants
$123,681
Program Service Revenue
$1,455,465
Investment Income
$1,037
Other Revenue
$262,378
All Other Contributions
$0
Change in Net Assets
$209,978
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,632,583
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$169,882$53,019$0$222,901
Fees for Services Other$117,584$36,697$0$154,281
Fees for Services Legal$77,654$24,235$0$101,889
Advertising$22,826$7,124$0$29,950
Occupancy$17,146$5,351$0$22,497
Information Technology$14,431$4,504$0$18,935
Office Expenses$13,967$4,359$0$18,326
Other Expenses$11,844$3,697$0$15,541
Insurance$6,531$2,038$0$8,569
Travel$5,838$1,822$0$7,660
Fees for Services Accounting$4,954$1,546$0$6,500
Total Functional Expenses$1,244,260$388,323$0$1,632,583
International Activity

International Summary

Offices
0
Employees
0
Spending
$345,899

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland and Greenland)Program ServicesDirect expenditures for conducting amateur athletic competitions in the sport of sailing calculated by the accrual method. The evidence that the funds were used as required is the fact that the events occurred as planned.00$326,032
Middle East and North AfricaProgram ServicesDirect expenditures for conducting amateur athletic competitions in the sport of sailing calculated by the accrual method. The evidence that the funds were used as required is the fact that the events occurred as planned.00$19,867
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
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Entity more than 35% controlled by Eric Faust, Executive Secretary.Management ServicesNo$147,948

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
Yes
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The organization has members who pay dues to join the association.”

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

“World Council members are elected by members from each geographic region.”

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

“Members approve changes to the measurement bylaws and constitution.”

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

“Form 990 is reviewed by reviewed by the officers and treasurer of the association. Any amendments or changes are agreed for inclusion in the final Form 990.”

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

“Officers and directors are asked to complete and update a conflict of interest statement each year.”

Form 990, Part VI, Section B, Line 15

“Compensation for management services approved by directors based on relevant experience with similar organizations and available publicly available salary information.”

Form 990, Part VI, Section C, Line 19

“Governing documents, financial statements and conflict of interest policy available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Laser Class Association Inc
EIN
46-3045188
Phone
5122706727
Address
PO Box 49250, Austin, TX 78765
Doing Business As
International Laser Class Association

Signing Officer

Name
Eric Faust
Title
Executive Secretary
Phone
5122706727
Signed
2022-11-15

Organization Details

Principal Officer
Tracy Usher
Formed
2013
Legal Domicile
TX
Voting Board Members
12
Independent Board Members
10
Employees
0
Volunteers
500
Raw XML AppendixShowing 400 of 700 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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IRS990/Form990PartVIISectionAGrp/PersonNm1Hugh Leicester
IRS990/Form990PartVIISectionAGrp/PersonNm2Nick Page
IRS990/Form990PartVIISectionAGrp/PersonNm3Eric Faust
IRS990/Form990PartVIISectionAGrp/PersonNm4Jean-Luc Michon
IRS990/Form990PartVIISectionAGrp/PersonNm5Andy Roy
IRS990/Form990PartVIISectionAGrp/PersonNm6Ken Hurling
IRS990/Form990PartVIISectionAGrp/PersonNm7Aileen Loo
IRS990/Form990PartVIISectionAGrp/PersonNm8Alexandra Behrens
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt2Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Executive Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4World Council Member
IRS990/Form990PartVIISectionAGrp/TitleTxt5World Council Member
IRS990/Form990PartVIISectionAGrp/TitleTxt6World Council Member
IRS990/Form990PartVIISectionAGrp/TitleTxt7World Council Member
IRS990/Form990PartVIISectionAGrp/TitleTxt8World Council Member
IRS990/Form990PartVIISectionAGrp/TitleTxt9World Council Member
IRS990/Form990PartVIISectionAGrp/TitleTxt10World Council Member
IRS990/Form990PartVIISectionAGrp/TitleTxt11World Council Member
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IRS990/FormationYr02013
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IRS990/GrantsToOrganizationsInd00
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IRS990/GrossSalesOfInventoryAmt011266
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IRS990/InformationTechnologyGrp/FundraisingAmt00
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IRS990/InformationTechnologyGrp/ProgramServicesAmt014431
IRS990/InformationTechnologyGrp/TotalAmt018935
IRS990/InsuranceGrp/FundraisingAmt00
IRS990/InsuranceGrp/ManagementAndGeneralAmt02038
IRS990/InsuranceGrp/ProgramServicesAmt06531
IRS990/InsuranceGrp/TotalAmt08569
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IRS990/InvestmentsPubTradedSecGrp/BOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
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IRS990/MembershipDuesAmt0123681
IRS990/MembersOrStockholdersInd01
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IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0To foster national and international amateur athletic competition in the sport of sailing Laser class sailboats including conducting national and international sports competitions for Olympic athletes and athletes seeking to qualify for the Olympic Games. To assure the strict "one-design" nature of the Laser class sailboat and foster communication among the members of the organization.
IRS990/MoreThan5000KToIndividualsInd00
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IRS990/OccupancyGrp/FundraisingAmt00
IRS990/OccupancyGrp/ManagementAndGeneralAmt05351
IRS990/OccupancyGrp/ProgramServicesAmt017146
IRS990/OccupancyGrp/TotalAmt022497
IRS990/OfficeExpensesGrp/FundraisingAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04359
IRS990/OfficeExpensesGrp/ProgramServicesAmt013967
IRS990/OfficeExpensesGrp/TotalAmt018326
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Direct expenses for conducting events
IRS990/OtherExpensesGrp/Desc1Bank and credit card merchant fees
IRS990/OtherExpensesGrp/Desc2Technical equipment expenses
IRS990/OtherExpensesGrp/Desc3Miscellaneous
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0203596
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt19475
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt230860
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt33697
IRS990/OtherExpensesGrp/ProgramServicesAmt0652360
IRS990/OtherExpensesGrp/ProgramServicesAmt130361
IRS990/OtherExpensesGrp/ProgramServicesAmt298882
IRS990/OtherExpensesGrp/ProgramServicesAmt311844
IRS990/OtherExpensesGrp/TotalAmt0855956
IRS990/OtherExpensesGrp/TotalAmt139836
IRS990/OtherExpensesGrp/TotalAmt2129742
IRS990/OtherExpensesGrp/TotalAmt315541
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IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0711320
IRS990/ProgramServiceRevenueGrp/Desc0Equipment certification fees
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01455465
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01455465
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgSrvcAccomActy2Grp/Desc0Equipment Certification -- Assured the principles of equality and fair play through the certification of sailing equipment to be used in competition. Carried out inspections and audits of all equipment manufacturers to ensure compliance with rules and building specifications. Carried out equipment inspections on site at events to assure all equipment meets rules and manufacturing requirements. Oversaw and managed updates and change register for the technical building specifications documents. Trained and certified 6 new volunteer measurers and equipment inspectors for use in future events.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0315926
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0418472
IRS990/ProgSrvcAccomActy3Grp/Desc0Media an Publications -- Facilitated communication with athletes around the world by publishing a news and information on website reaching over 500,000 people worldwide. Handled media and press coverage for sailing competitions for 2019 World Championships. Managed and updated social media and website with current news and information about ILCA sailing events. Published annual handbook with rules and regulations to inform athletes of compliance requirements and assure fair and equal competition at events worldwide.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0193993
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0114580
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0714
IRS990/PymtTravelEntrtnmntPubOfclGrp/FundraisingAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ManagementAndGeneralAmt00

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,155,017
Liabilities
$197,966
Net assets
$957,051
Revenue
$1,842,561
Expenses
$1,632,583
Net income
$209,978
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.59$1.25$1.34$2.42$2.29$0.13
2023Detailed filing. Detailed filing data is available for this year.$2.38$1.18$1.21$2.21$2.25$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.64$0.60$1.04$2.09$2.00$0.08
2021Detailed filing. Detailed filing data is available for this year.$1.16$0.20$0.96$1.84$1.63$0.21
2020Detailed filing. Detailed filing data is available for this year.$1.00$0.21$0.79$0.80$0.77$0.03
2019Summary only. Only limited summary data is available for this year.$1.65$0.89$0.76$0.87$1.07$0.20
2018Summary only. Only limited summary data is available for this year.$1.09$0.13$0.96$1.03$1.06$0.03
2017Summary only. Only limited summary data is available for this year.$1.10$0.11$0.99$1.79$1.65$0.14
2016Summary only. Only limited summary data is available for this year.$1.00$0.16$0.84$1.47$1.43$0.03
2015Summary only. Only limited summary data is available for this year.$0.94$0.13$0.81$0.98$0.92$0.05
2014Summary only. Only limited summary data is available for this year.$0.80$0.04$0.76$1.54$1.11$0.43
2013Summary only. Only limited summary data is available for this year.$0.33$0.00$0.32$0.45$0.13$0.32
Peer Organizations

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