Civic Intelligence

Windmark Sailing Foundation Inc.

990 • Fiscal year 2022 • EIN 46-3234147

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 27, 2023

Organization ProfileWINDMARK.ORG
PO Box 638Oyster Bay, NY 11771

(516) 674-8008

Siviq Scores

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

Liabilities / Assets

25th percentile

0.00x

Higher debt load relative to assets than 25% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

25th percentile

0.00x

Higher debt load relative to revenue than 25% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2022

Net Margin

56th percentile

15%

Higher net margin than 56% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

86th percentile

$140,000

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 13.9% of source-year revenue.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2022

Asset Growth

55th percentile

15%

Faster asset growth than 55% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

24th percentile

-9.7%

Faster revenue growth than 24% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets25th percentile

Assets

Up

$761,342

Up $97,673 (+15%) from 2021

Net Assets

Up

$760,603

Up $96,934 (+15%) from 2021

Liabilities

Up

$739

Up $739 from 2021

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin56th percentile

Revenue

Down

$1,005,468

Down $108,407 (-9.7%) from 2021

Expenses

Up

$852,649

Up $386,000 (+83%) from 2021

Net Income

Down

$152,819

Down $494,407 (-76%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$1.0M$500K$0Assets 2013: $20,827Liabilities 2013: $02013Assets 2014: $52,475Liabilities 2014: $02014Assets 2015: $272,044Liabilities 2015: $0Net Assets 2015: $272,0442015Assets 2016: $263,114Liabilities 2016: $0Net Assets 2016: $263,1142016Assets 2017: $225,228Liabilities 2017: $0Net Assets 2017: $225,2282017Assets 2018: $74,142Liabilities 2018: $0Net Assets 2018: $74,1422018Assets 2019: $17,983Liabilities 2019: $0Net Assets 2019: $17,9832019Assets 2020: $18,569Liabilities 2020: $0Net Assets 2020: $18,5692020Assets 2021: $663,669Liabilities 2021: $0Net Assets 2021: $663,6692021Assets 2022: $761,342Liabilities 2022: $739Net Assets 2022: $760,6032022Assets 2023: $887,527Liabilities 2023: $2,151Net Assets 2023: $885,3762023Assets 2024: $972,067Liabilities 2024: $0Net Assets 2024: $972,0672024

Highlighted filing

2022

Assets$761,342
Liabilities$739
Net Assets$760,603
Open 2022 Filing

Operations Trend

Revenue Growth24th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2013: $50,852Expenses 2013: $30,025Net Income 2013: $20,8272013Revenue 2014: $144,392Expenses 2014: $112,744Net Income 2014: $31,6482014Revenue 2015: $1,365,471Expenses 2015: $1,165,902Net Income 2015: $199,5692015Revenue 2016: $1,177,950Expenses 2016: $1,186,880Net Income 2016: -$8,9302016Revenue 2017: $172,311Expenses 2017: $210,197Net Income 2017: -$37,8862017Revenue 2018: $395,068Expenses 2018: $546,154Net Income 2018: -$151,0862018Revenue 2019: $275,960Expenses 2019: $332,119Net Income 2019: -$56,1592019Revenue 2020: $100,727Expenses 2020: $100,141Net Income 2020: $5862020Revenue 2021: $1,113,875Expenses 2021: $466,649Net Income 2021: $647,2262021Revenue 2022: $1,005,468Expenses 2022: $852,649Net Income 2022: $152,8192022Revenue 2023: $1,267,110Expenses 2023: $1,127,487Net Income 2023: $139,6232023Revenue 2024: $1,229,827Expenses 2024: $1,143,136Net Income 2024: $86,6912024

Highlighted filing

2022

Revenue$1,005,468
Expenses$852,649
Net Income$152,819
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 27, 2023
Return Version
2022v5.0
Gross Receipts
$1,005,468
Mission and Program Overview

Mission

The foundation is organized and operated as a qualified amateur sports foundation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$635,233$627,335▼ $7,898
Cash and Non-Interest-Bearing Accounts$28,236$133,807▲ $105,571
Total Assets$663,669$761,342▲ $97,673
Other Assets Total$200$200→ $0
Liabilities
Accounts Payable and Accrued Expenses-$739-
Total Liabilities$0$739▲ $739
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$663,669$760,603▲ $96,934
Total Net Assets Fund Balance$663,669$760,603▲ $96,934
Total Liabilities and Net Assets / Fund Balance$663,669$761,342▲ $97,673

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$627,335-$627,335
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Yevgeniy BurmatnovExecutive DirectorFT$140,000$140,000

Board Members and Trustees

NameTitle
Benjamin SternbergTrustee
Matthew KellyTrustee
John BertrandTrustee Thru April 2021
Mark StrubeTrustee Thru April 2021
Bam MillerChief Executive Officer
Diane SchotensteinSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$922,311
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$83,157
All Other Contributions
$922,311
Change in Net Assets
$152,819
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$380,956
Grants and Similar Amounts Paid$250,888
Salaries, Compensation, and Employee Benefits$220,805
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$250,888--$250,888
Current Officers, Directors, Trustees, and Key Employees-$140,000-$140,000
Travel$101,409--$101,409
Other Salaries and Wages-$62,599-$62,599
Occupancy-$52,800-$52,800
Insurance-$24,724-$24,724
Office Expenses-$19,737-$19,737
Payroll Taxes-$18,206-$18,206
Fees for Services Management-$13,520-$13,520
Fees for Services Other-$9,319-$9,319
Other Expenses$5,094--$5,094
Fees for Services Accounting-$3,150-$3,150
Total Functional Expenses$508,594$344,055$0$852,649
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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, Part VI, Section B, Line 11B

“The form 990 has been distributed to the full board for review prior to the filing with the internal revenue service.”

Form 990, Part VI, Section C, Line 19

“The foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Windmark Sailing Foundation Inc
EIN
46-3234147
Phone
5166748008
Address
PO BOX 638, OYSTER BAY, NY 11771

Signing Officer

Name
Timothy Miller
Title
Chief Operating Officer
Phone
5166748008
Signed
2023-10-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy Miller
Formed
2013
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
6
Volunteers
3

Preparer

Firm
CONDON O'MEARA MCGINTY & DONNELLY LLP
Address
ONE BATTERY PARK PLAZA 7TH FL, NEW YORK, NY 10004
Preparer
Alexander Lazzaruolo
Phone
2126617777
Supplemental Narrative

Additional Explanations

Part III - Line 1

“Windmark sailing foundation, a delaware nonprofit foundation (the "foundation"), is organized and operated as a qualified amateur sports organization to raise the level of excellence among amateur american sailors by providing grants with the ultimate goal of developing and preparing them to compete in national and international competitions. The foundation has found that there is a gap in the funding needed for amateur american athletes in the field of sailing. Non-us international competitors often have national authorities providing the required infrastructure for their athletic competitions. Funding for us athletes for training and competing against these international competitors will allow us sailors to compete on a level playing field. To fill this gap, the foundation provides grants to its pre-qualified recipients to be able to afford top coaching, elite level equipment, travel and lodging expenses, and entrance fees which are all required to be competitive against the international field.”

Part XII - Line 2

“The tax return has been prepared based on information provided by the windmark sailing foundation, inc. (the "foundation"). Audit services for the foundation have not been completed, and such services may result in revised financial information which may require the preparation and filing of amended returns.”

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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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IRS990ScheduleA/FactsAndCircumstancesTestTxt0THE WINDMARK SAILING FOUNDATION, INC. (THE "FOUNDATION") QUALIFIES AS PUBLICLY SUPPORTED BECAUSE IT MEETS THE 10% PLUS FACTS-AND-CIRCUMSTANCES TEST UNDER TREAS REG. 1.170A-9(E)(3) IN THE FOLLOWING RESPECTS:10% OF SUPPORT LIMITATION - AT 16.41% FOUNDATION 'S PUBLIC SUPPORT PERCENTAGE FOR 2022 EXCEEDED 10%.THE FOUNDATION IS A 501(C)(3) ORGANIZATION ORGANIZED AND OPERATED AS A QUALIFIED AMATEUR SPORTS FOUNDATION.
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt0627335
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0627335
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0627335
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0250888
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt059
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0BENEFICIARIES ARE REQUIRED TO GATHER, RETAIN, AND SUBMIT ELECTRONIC COPIES OF RECEIPTS AND/OR INVOICES FOR ALL EXPENSES PAID FOR BY THE ORGANIZATION, WHETHER USED DOMESTICALLY OR INTERNATIONALLY.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WINDMARK SAILING FOUNDATION, A DELAWARE NONPROFIT FOUNDATION (THE "FOUNDATION"), IS ORGANIZED AND OPERATED AS A QUALIFIED AMATEUR SPORTS ORGANIZATION TO RAISE THE LEVEL OF EXCELLENCE AMONG AMATEUR AMERICAN SAILORS BY PROVIDING GRANTS WITH THE ULTIMATE GOAL OF DEVELOPING AND PREPARING THEM TO COMPETE IN NATIONAL AND INTERNATIONAL COMPETITIONS. THE FOUNDATION HAS FOUND THAT THERE IS A GAP IN THE FUNDING NEEDED FOR AMATEUR AMERICAN ATHLETES IN THE FIELD OF SAILING. NON-US INTERNATIONAL COMPETITORS OFTEN HAVE NATIONAL AUTHORITIES PROVIDING THE REQUIRED INFRASTRUCTURE FOR THEIR ATHLETIC COMPETITIONS. FUNDING FOR US ATHLETES FOR TRAINING AND COMPETING AGAINST THESE INTERNATIONAL COMPETITORS WILL ALLOW US SAILORS TO COMPETE ON A LEVEL PLAYING FIELD. TO FILL THIS GAP, THE FOUNDATION PROVIDES GRANTS TO ITS PRE-QUALIFIED RECIPIENTS TO BE ABLE TO AFFORD TOP COACHING, ELITE LEVEL EQUIPMENT, TRAVEL AND LODGING EXPENSES, AND ENTRANCE FEES WHICH ARE ALL REQUIRED TO BE COMPETITIVE AGAINST THE INTERNATIONAL FIELD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 HAS BEEN DISTRIBUTED TO THE FULL BOARD FOR REVIEW PRIOR TO THE FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TAX RETURN HAS BEEN PREPARED BASED ON INFORMATION PROVIDED BY THE WINDMARK SAILING FOUNDATION, INC. (THE "FOUNDATION"). AUDIT SERVICES FOR THE FOUNDATION HAVE NOT BEEN COMPLETED, AND SUCH SERVICES MAY RESULT IN REVISED FINANCIAL INFORMATION WHICH MAY REQUIRE THE PREPARATION AND FILING OF AMENDED RETURNS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III - LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII - LINE 2
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0663669
IRS990/TotalAssetsEOYAmt0761342
IRS990/TotalAssetsGrp/BOYAmt0663669
IRS990/TotalAssetsGrp/EOYAmt0761342
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0922311
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0344055
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0508594
IRS990/TotalFunctionalExpensesGrp/TotalAmt0852649
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt0739
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0739
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0663669
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0760603
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IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt083157
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01005468
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0663669
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0761342
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0101409
IRS990/TravelGrp/TotalAmt0101409
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 638
IRS990/USAddress/CityNm0OYSTER BAY
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011771
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WINDMARK.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TIMOTHY MILLER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHIEF OPERATING OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum05166748008
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WINDMARK SAILING FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0WIND
ReturnHeader/Filer/EIN0463234147
ReturnHeader/Filer/PhoneNum05166748008
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 638
ReturnHeader/Filer/USAddress/CityNm0OYSTER BAY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011771
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0133628255
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CONDON O'MEARA MCGINTY & DONNELLY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ONE BATTERY PARK PLAZA 7TH FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010004
ReturnHeader/PreparerPersonGrp/PhoneNum02126617777
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALEXANDER LAZZARUOLO
ReturnHeader/ReturnTs02023-11-14T13:13:10-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0TIMOTHY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MILLER
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
$761,342
Liabilities
$739
Net assets
$760,603
Revenue
$1,005,468
Expenses
$852,649
Net income
$152,819
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.97$0.00$0.97$1.23$1.14$0.09
2023Detailed filing. Detailed filing data is available for this year.$0.89$0.00$0.89$1.27$1.13$0.14
2022Detailed filing. Detailed filing data is available for this year.$0.76$0.00$0.76$1.01$0.85$0.15
2021Detailed filing. Detailed filing data is available for this year.$0.66$0.00$0.66$1.11$0.47$0.65
2020Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.10$0.10$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.28$0.33$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$0.40$0.55$0.15
2017Summary only. Only limited summary data is available for this year.$0.23$0.00$0.23$0.17$0.21$0.04
2016Summary only. Only limited summary data is available for this year.$0.26$0.00$0.26$1.18$1.19$0.01
2015Summary only. Only limited summary data is available for this year.$0.27$0.00$0.27$1.37$1.17$0.20
2014Summary only. Only limited summary data is available for this year.$0.05$0.00$0.14$0.11$0.03
2013Summary only. Only limited summary data is available for this year.$0.02$0.00$0.05$0.03$0.02