Civic Intelligence

500 Sails

990 • Fiscal year 2023 • EIN 66-0821204

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

Organization Profile500sails.org
PO Box 10001 Pmb326Saipan, MP 96950

(670) 323-7245

Siviq Scores

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

Liabilities / Assets

38th percentile

0.02x

Higher debt load relative to assets than 38% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

55th percentile

0.12x

Higher debt load relative to revenue than 55% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

16th percentile

-19%

Higher net margin than 16% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

23rd percentile

-4.0%

Faster asset growth than 23% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

2nd percentile

-81%

Faster revenue growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets38th percentile

Assets

Down

$1,974,663

Down $82,797 (-4.0%) from 2022

Net Assets

Down

$1,926,059

Down $77,187 (-3.9%) from 2022

Liabilities

Down

$48,604

Down $5,610 (-10%) from 2022

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin16th percentile

Revenue

Down

$415,446

Down $1,777,265 (-81%) from 2022

Expenses

Down

$492,633

Down $53,097 (-9.7%) from 2022

Net Income

Down

-$77,187

Down $1,724,168 (-105%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

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

$3.0M$2.0M$1.0M$0Assets 2018: $175,688Liabilities 2018: $53,114Net Assets 2018: $122,5742018Assets 2019: $116,959Liabilities 2019: $33,485Net Assets 2019: $83,4742019Assets 2020: $45,759Liabilities 2020: $40,554Net Assets 2020: $5,2052020Assets 2022: $2,057,460Liabilities 2022: $54,214Net Assets 2022: $2,003,2462022Assets 2023: $1,974,663Liabilities 2023: $48,604Net Assets 2023: $1,926,0592023Assets 2024: $1,667,632Liabilities 2024: $116,312Net Assets 2024: $1,551,3202024

Highlighted filing

2023

Assets$1,974,663
Liabilities$48,604
Net Assets$1,926,059
Open 2023 Filing

Operations Trend

Revenue Growth2nd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2018: $384,479Expenses 2018: $333,673Net Income 2018: $50,8062018Revenue 2019: $284,004Expenses 2019: $316,881Net Income 2019: -$32,8772019Revenue 2020: $232,318Expenses 2020: $310,587Net Income 2020: -$78,2692020Revenue 2022: $2,192,711Expenses 2022: $545,730Net Income 2022: $1,646,9812022Revenue 2023: $415,446Expenses 2023: $492,633Net Income 2023: -$77,1872023Revenue 2024: $125,662Expenses 2024: $502,665Net Income 2024: -$377,0032024

Highlighted filing

2023

Revenue$415,446
Expenses$492,633
Net Income-$77,187
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$415,446
Mission and Program Overview

Mission

500 Sails' mission is the cultural revival of the maritime traditions of the Mariana Islands. This is done through sailing of canoes of traditional design made from both modern and traditional materials, as well as classes in sailing, building, swimming, and educational outreach.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,863,587$1,871,122▲ $7,535
Land, Buildings, and Equipment, Net-$57,072-
Cash and Non-Interest-Bearing Accounts$176,765$28,212▼ $148,553
Accounts Receivable$15,979$15,979→ $0
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,057,460$1,974,663▼ $82,797
Other Assets Total$1,129$2,278▲ $1,149
Liabilities
Deferred Revenue$29,324$27,464▼ $1,860
Accounts Payable and Accrued Expenses$24,226$17,815▼ $6,411
Other Liabilities$664$3,325▲ $2,661
Total Liabilities$54,214$48,604▼ $5,610
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,003,246$1,926,059▼ $77,187
Total Net Assets Fund Balance$2,003,246$1,926,059▼ $77,187
Total Liabilities and Net Assets / Fund Balance$2,057,460$1,974,663▼ $82,797

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$57,072$5,188$62,260
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Dave GuerreroPresident
Julia BenaventeVice President
Cecilio RaiukiulipiyDirector
Nadine Deleon GuerreroDirector
Salina SappDirector
Tiana ReyesDirector
Emma PerezSecretary
Geraldine SasamotoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$360,163
Program Service Revenue
$55,281
Investment Income
$0
Other Revenue
$2
All Other Contributions
$30,765
Change in Net Assets
$-77,187
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$329,881
Other Expenses$162,752
Total Fundraising Expense$39,442
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$184,974$23,122$23,122$231,218
Fees for Services Other$56,935$7,117$7,117$71,169
Current Officers, Directors, Trustees, and Key Employees$54,869$3,048$3,048$60,965
Payroll Taxes$16,850$2,106$2,106$21,062
Other Employee Benefits$13,309$1,664$1,663$16,636
Insurance$5,171$5,450-$10,621
Occupancy$6,776$847$847$8,470
Fees for Services Accounting-$7,727-$7,727
Depreciation Depletion$4,150$519$519$5,188
All Other Expenses$2,897$1,057$359$4,313
Travel$2,883$361$360$3,604
Other Expenses$2,411$1,044$301$1,044
Total Functional Expenses$392,082$61,109$39,442$492,633
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$3,325
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
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 board of directors is provided a copy of the 990 electronbically prior to filing for review.”

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

“The board of directors discusses and resolves issues with compliance at each meeting.”

Form 990, Part VI, Section B, Line 15A

“The board votes on compensation for the executive director based on a comparability study. Executive director and any non-independent members recuse themselves from the vote. Other employee's wages are approved by the executive director and are based on comparability studies for the region.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
500 Sails
EIN
66-0821204
Phone
6703237245
Address
PO BOX 10001 PMB326, SAIPAN, MP 96950

Signing Officer

Name
Emma Perez
Title
COO
Signed
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Mp
Voting Board Members
8
Independent Board Members
7
Employees
24
Volunteers
15

Preparer

Firm
Gregg S Bossen CPA Pc
Address
50 LENOX POINT SUITE C, ATLANTA, GA 30324
Preparer
Gregg S Bossen
Phone
4048929513
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0231218
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt02106
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02106
IRS990/PayrollTaxesGrp/ProgramServicesAmt016850
IRS990/PayrollTaxesGrp/TotalAmt021062
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01863587
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01871122
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0SERVICE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt055281
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt055281
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt02178999
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0184902
IRS990/PYProgramServiceRevenueAmt013712
IRS990/PYRevenuesLessExpensesAmt01646981
IRS990/PYSalariesCompEmpBnftPaidAmt0360828
IRS990/PYTotalExpensesAmt0545730
IRS990/PYTotalRevenueAmt02192711
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-77187
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0360163
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt02178999
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0563633
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt021492
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0146675
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt03270962
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/CurrentTaxYearAmt0107000
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/CurrentTaxYearMinus1YearAmt0107000
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/CurrentTaxYearMinus2YearsAmt0147915
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/CurrentTaxYearMinus3YearsAmt0194411
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/CurrentTaxYearMinus4YearsAmt0134398
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt0690724
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt055281
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt013712
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt013295
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt016385
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt02932
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0101605
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt02
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt01178
IRS990ScheduleA/OtherIncome509Grp/TotalAmt01180
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99970
IRS990ScheduleA/PublicSupportPY509Pct00.99970
IRS990ScheduleA/PublicSupportTotal509Amt04063291
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0522444
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt02299711
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0724843
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0232288
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0284005
IRS990ScheduleA/Total509Grp/TotalAmt04063291
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0522446
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt02299711
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0726021
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0232288
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0284005
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04064471
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt057072
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05188
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt062260
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03325
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL LIABILITIES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt057072
IRS990ScheduleD/TotalLiabilityAmt03325
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS IS PROVIDED A COPY OF THE 990 ELECTRONBICALLY PRIOR TO FILING FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS DISCUSSES AND RESOLVES ISSUES WITH COMPLIANCE AT EACH MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD VOTES ON COMPENSATION FOR THE EXECUTIVE DIRECTOR BASED ON A COMPARABILITY STUDY. EXECUTIVE DIRECTOR AND ANY NON-INDEPENDENT MEMBERS RECUSE THEMSELVES FROM THE VOTE. OTHER EMPLOYEE'S WAGES ARE APPROVED BY THE EXECUTIVE DIRECTOR AND ARE BASED ON COMPARABILITY STUDIES FOR THE REGION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MP
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02057460
IRS990/TotalAssetsEOYAmt01974663
IRS990/TotalAssetsGrp/BOYAmt02057460
IRS990/TotalAssetsGrp/EOYAmt01974663
IRS990/TotalCompGreaterThan150KInd0false

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,974,663
Liabilities
$48,604
Net assets
$1,926,059
Revenue
$415,446
Expenses
$492,633
Net income
-$77,187
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.67$0.12$1.55$0.13$0.50$0.38
2023Detailed filing. Detailed filing data is available for this year.$1.97$0.05$1.93$0.42$0.49$0.08
2022Detailed filing. Detailed filing data is available for this year.$2.06$0.05$2.00$2.19$0.55$1.65
2020Summary only. Only limited summary data is available for this year.$0.05$0.04$0.01$0.23$0.31$0.08
2019Summary only. Only limited summary data is available for this year.$0.12$0.03$0.08$0.28$0.32$0.03
2018Summary only. Only limited summary data is available for this year.$0.18$0.05$0.12$0.38$0.33$0.05