Civic Intelligence

Windmark Sailing Foundation Inc.

990 • Fiscal year 2023 • EIN 46-3234147

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 28, 2024

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

30th percentile

0.00x

Higher debt load relative to assets than 30% of similar nonprofits.

2023 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

28th percentile

0.00x

Higher debt load relative to revenue than 28% of similar nonprofits.

2023 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2023

Net Margin

58th percentile

11%

Higher net margin than 58% of similar nonprofits.

2023 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

85th percentile

$140,000

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 11.0% of source-year revenue.

2023 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2023

Asset Growth

63rd percentile

17%

Faster asset growth than 63% of similar nonprofits.

2023 filings • NTEE P20 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

63rd percentile

26%

Faster revenue growth than 63% of similar nonprofits.

2023 filings • NTEE P20 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets30th percentile

Assets

Up

$887,527

Up $126,185 (+17%) from 2022

Net Assets

Up

$885,376

Up $124,773 (+16%) from 2022

Liabilities

Up

$2,151

Up $1,412 (+191%) from 2022

Revenue And Expenses
Liabilities / Revenue28th percentileNet Margin58th percentile

Revenue

Up

$1,267,110

Up $261,642 (+26%) from 2022

Expenses

Up

$1,127,487

Up $274,838 (+32%) from 2022

Net Income

Down

$139,623

Down $13,196 (-8.6%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth63rd 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

2023

Assets$887,527
Liabilities$2,151
Net Assets$885,376
Open 2023 Filing

Operations Trend

Revenue Growth63rd 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

2023

Revenue$1,267,110
Expenses$1,127,487
Net Income$139,623
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 28, 2024
Return Version
2023v5.1
Gross Receipts
$1,267,110
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$627,335$720,555▲ $93,220
Cash and Non-Interest-Bearing Accounts$133,807$166,772▲ $32,965
Total Assets$761,342$887,527▲ $126,185
Other Assets Total$200$200→ $0
Liabilities
Accounts Payable and Accrued Expenses$739$2,151▲ $1,412
Total Liabilities$739$2,151▲ $1,412
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$760,603$885,376▲ $124,773
Total Net Assets Fund Balance$760,603$885,376▲ $124,773
Total Liabilities and Net Assets / Fund Balance$761,342$887,527▲ $126,185

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$720,555-$720,555
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Yevgeniy BurmatnovExecutive DirectorFT$140,000$140,000
Timothy MillerPresident/chief Executive OfficerPT$24,960$24,960

Board Members and Trustees

NameTitle
Ben SternbergBoard Member
Matthew KellyCFO/treasurer
Diane SchotensteinSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,258,109
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$9,001
All Other Contributions
$1,258,109
Change in Net Assets
$139,623
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$558,862
Other Expenses$376,823
Salaries, Compensation, and Employee Benefits$191,802
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$558,862--$558,862
Current Officers, Directors, Trustees, and Key Employees-$164,960-$164,960
Travel$56,741--$56,741
Occupancy-$48,400-$48,400
Office Expenses-$24,754-$24,754
Insurance-$21,568-$21,568
Payroll Taxes-$14,568-$14,568
Other Salaries and Wages-$12,274-$12,274
Fees for Services Other-$7,154-$7,154
Fees for Services Accounting-$6,500-$6,500
Other Expenses$2,118--$2,118
Total Functional Expenses$827,309$300,178$0$1,127,487
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
2024-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy Miller
Formed
2013
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
3
Volunteers
4

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 18.70% FOUNDATION 'S PUBLIC SUPPORT PERCENTAGE FOR 2023 EXCEEDED 10%.THE FOUNDATION IS A 501(C)(3) ORGANIZATION ORGANIZED AND OPERATED AS A QUALIFIED AMATEUR SPORTS FOUNDATION.
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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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0761342
IRS990/TotalAssetsEOYAmt0887527
IRS990/TotalAssetsGrp/BOYAmt0761342
IRS990/TotalAssetsGrp/EOYAmt0887527
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01258109
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0300178
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0827309
IRS990/TotalFunctionalExpensesGrp/TotalAmt01127487
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0739
IRS990/TotalLiabilitiesEOYAmt02151
IRS990/TotalLiabilitiesGrp/BOYAmt0739
IRS990/TotalLiabilitiesGrp/EOYAmt02151
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0760603
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0885376
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0827309
IRS990/TotalReportableCompFromOrgAmt0164960
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt09001
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01267110
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0761342
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0887527
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt056741
IRS990/TravelGrp/TotalAmt056741
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 638
IRS990/USAddress/CityNm0OYSTER BAY
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011771
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WINDMARK.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TIMOTHY MILLER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHIEF OPERATING OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum05166748008
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-28
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/ReturnTs02024-11-13T20:42:43-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$887,527
Liabilities
$2,151
Net assets
$885,376
Revenue
$1,267,110
Expenses
$1,127,487
Net income
$139,623
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