Civic Intelligence

Lisot Sailing Foundation Inc

990 • Fiscal year 2019 • EIN 81-2660652

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 04, 2020

Organization ProfileWWW.LISOT.ORG
55 Cedar Gate RoadDarien, CT 06820

(203) 569-1199

Siviq Scores

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

Liabilities / Assets

57th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

55th percentile

5.4%

Higher net margin than 55% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

81st percentile

37%

Faster asset growth than 81% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

29th percentile

-15%

Faster revenue growth than 29% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$99,973

Up $27,051 (+37%) from 2018

Net Assets

Up

$99,973

Up $27,051 (+37%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin55th percentile

Revenue

Down

$496,667

Down $85,536 (-15%) from 2018

Expenses

Down

$469,616

Down $102,011 (-18%) from 2018

Net Income

Up

$27,051

Up $16,475 (+156%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

$200K$150K$100K$50K$0Assets 2016: $10,772Liabilities 2016: $0Net Assets 2016: $10,7722016Assets 2018: $72,922Liabilities 2018: $0Net Assets 2018: $72,9222018Assets 2019: $99,973Liabilities 2019: $0Net Assets 2019: $99,9732019Assets 2020: $91,273Liabilities 2020: $0Net Assets 2020: $91,2732020Assets 2021: $116,566Liabilities 2021: $0Net Assets 2021: $116,5662021Assets 2022: $75,827Liabilities 2022: $0Net Assets 2022: $75,8272022Assets 2023: $87,248Liabilities 2023: $0Net Assets 2023: $87,2482023Assets 2024: $157,744Liabilities 2024: $0Net Assets 2024: $157,7442024

Highlighted filing

2019

Assets$99,973
Liabilities$0
Net Assets$99,973
Open 2019 Filing

Operations Trend

Revenue Growth29th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2016: $129,119Expenses 2016: $118,347Net Income 2016: $10,7722016Revenue 2018: $582,203Expenses 2018: $571,627Net Income 2018: $10,5762018Revenue 2019: $496,667Expenses 2019: $469,616Net Income 2019: $27,0512019Revenue 2020: $375,073Expenses 2020: $383,773Net Income 2020: -$8,7002020Revenue 2021: $428,787Expenses 2021: $403,274Net Income 2021: $25,5132021Revenue 2022: $453,394Expenses 2022: $494,133Net Income 2022: -$40,7392022Revenue 2023: $490,064Expenses 2023: $478,643Net Income 2023: $11,4212023Revenue 2024: $610,163Expenses 2024: $539,667Net Income 2024: $70,4962024

Highlighted filing

2019

Revenue$496,667
Expenses$469,616
Net Income$27,051
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 4, 2020
Return Version
2019v5.1
Gross Receipts
$496,667
Mission and Program Overview

Mission

Healthful, wholesome, and character-building sport for youth: to disseminate information to children and young people about the sport of sailboat racing; to assist children and young people in developing their sailboat racing abilities to enable them to compete in local, regional, national, and international competition; to assist children and young people and their families in setting and achieving their goals in the sport of sailboat racing.

The corporation will promote, encourage, organize and conduct sailboat racing activities for healthful, wholesome, and character-building sport for youth: to disseminate information to children and young people about the sport of sailboat racing; to assist children and young people in developing their sailboat racing abilities to enable them to compete in local, regional, national, and international competition; to assist children and young people and their families in setting and achieving their goals in the sport of sailboat racing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$72,922$99,973▲ $27,051
Cash and Non-Interest-Bearing Accounts$63,845$94,527▲ $30,682
Land, Buildings, and Equipment, Net$9,077$5,446▼ $3,631
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$72,922$99,973▲ $27,051
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$72,922$99,973▲ $27,051
Total Liabilities and Net Assets / Fund Balance$72,922$99,973▲ $27,051

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,446$114,615$120,061
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Michael RudnickPresident
Greg GigliottiVice President
Anthony IaconiaDirector
Beth DanilekDirector
Doug WeferDirector
Josh ChisariDirector
Sophie CowlesDirector
Jack CowlesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$10,950
Program Service Revenue
$462,808
Investment Income
$0
Other Revenue
$22,909
All Other Contributions
$10,950
Change in Net Assets
$27,051
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$287,669
Salaries, Compensation, and Employee Benefits$181,947
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$159,170--$159,170
Fees for Services Other$142,650--$142,650
Travel$31,812--$31,812
Insurance$25,459--$25,459
Payroll Taxes$12,177--$12,177
Pension Plan Contributions$10,600--$10,600
Fees for Services Accounting$7,570--$7,570
Depreciation Depletion$3,631--$3,631
Office Expenses$1,000--$1,000
Other Expenses$556--$556
Information Technology$129--$129
Total Functional Expenses$469,616$0$0$469,616
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 A, Line 2

“Jack cowles is treasurer and sophie cowles, his spouse, is a member of the board.”

Form 990, Part VI, Section A, Line 8B

“The governing body contemporaneously documented the meetings held or written actions undertaken during the year.”

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

“The governing body reviews form 990 before filing with the tax authorities.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents and financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Lisot Sailing Foundation Inc
EIN
81-2660652
Phone
2035691199
Address
55 CEDAR GATE ROAD, DARIEN, CT 06820

Signing Officer

Name
Michael Rudnick
Title
President
Phone
2035691199
Signed
2020-09-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Rudnick
Formed
2016
Legal Domicile
Ct
Voting Board Members
7
Independent Board Members
7
Employees
2
Volunteers
5

Preparer

Firm
Reynolds & Rowella Llp
Address
90 GROVE STREET, RIDGEFIELD, CT 06877
Preparer
Steven I Risbridger CPA
Phone
2034380161
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Coaching services: program service expenses 142,650. Management and general expenses 0. Fundraising expenses 0. Total expenses 142,650.”

Raw XML Appendix372 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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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0129119
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01722923
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt05446
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0114615
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0120061
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05446
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0JACK COWLES IS TREASURER AND SOPHIE COWLES, HIS SPOUSE, IS A MEMBER OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY CONTEMPORANEOUSLY DOCUMENTED THE MEETINGS HELD OR WRITTEN ACTIONS UNDERTAKEN DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING BODY REVIEWS FORM 990 BEFORE FILING WITH THE TAX AUTHORITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COACHING SERVICES: PROGRAM SERVICE EXPENSES 142,650. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 142,650.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt072922
IRS990/TotalAssetsEOYAmt099973
IRS990/TotalAssetsGrp/BOYAmt072922
IRS990/TotalAssetsGrp/EOYAmt099973
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt010950
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0469616
IRS990/TotalFunctionalExpensesGrp/TotalAmt0469616
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt072922
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt099973
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0469616
IRS990/TotalProgramServiceRevenueAmt0462808
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0485717
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0496667
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt072922
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt099973
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt031812
IRS990/TravelGrp/TotalAmt031812
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt055 CEDAR GATE ROAD
IRS990/USAddress/CityNm0DARIEN
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006820
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.LISOT.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL RUDNICK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02035691199
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-09-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LISOT SAILING FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0LISO
ReturnHeader/Filer/EIN0812660652
ReturnHeader/Filer/PhoneNum02035691199
ReturnHeader/Filer/USAddress/AddressLine1Txt055 CEDAR GATE ROAD
ReturnHeader/Filer/USAddress/CityNm0DARIEN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006820
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId06C9B1A35775087DBDB8A6D25ECA509C7F6C27838
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.13.125.174
ReturnHeader/FilingSecurityInformation/IPDt02020-09-04
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm010:02:28
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0061143555
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0REYNOLDS & ROWELLA LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt090 GROVE STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RIDGEFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006877
ReturnHeader/PreparerPersonGrp/PhoneNum02034380161
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN I RISBRIDGER CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-10-14T09:26:39-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$99,973
Liabilities
$0
Net assets
$99,973
Revenue
$496,667
Expenses
$469,616
Net income
$27,051
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.58$0.00$1.58$6.10$5.40$0.70
2023Detailed filing. Detailed filing data is available for this year.$0.87$0.00$0.87$4.90$4.79$0.11
2022Detailed filing. Detailed filing data is available for this year.$0.76$0.00$0.76$4.53$4.94$0.41
2021Detailed filing. Detailed filing data is available for this year.$1.17$0.00$1.17$4.29$4.03$0.26
2020Detailed filing. Detailed filing data is available for this year.$0.91$0.00$0.91$3.75$3.84$0.09
2019Detailed filing. Detailed filing data is available for this year.$1.00$0.00$1.00$4.97$4.70$0.27
2018Detailed filing. Detailed filing data is available for this year.$0.73$0.00$0.73$5.82$5.72$0.11
2016Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.11$1.29$1.18$0.11