Civic Intelligence

Lisot Sailing Foundation Inc

990 • Fiscal year 2020 • EIN 81-2660652

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 06, 2021

Organization ProfileWWW.LISOT.ORG
56 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

55th percentile

0.00x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.00x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

36th percentile

-2.3%

Higher net margin than 36% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

29th percentile

-8.7%

Faster asset growth than 29% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

40th percentile

-24%

Faster revenue growth than 40% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets55th percentile

Assets

Down

$91,273

Down $8,700 (-8.7%) from 2019

Net Assets

Down

$91,273

Down $8,700 (-8.7%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin36th percentile

Revenue

Down

$375,073

Down $121,594 (-24%) from 2019

Expenses

Down

$383,773

Down $85,843 (-18%) from 2019

Net Income

Down

-$8,700

Down $35,751 (-132%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth29th 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

2020

Assets$91,273
Liabilities$0
Net Assets$91,273
Open 2020 Filing

Operations Trend

Revenue Growth40th 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

2020

Revenue$375,073
Expenses$383,773
Net Income-$8,700
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 6, 2021
Return Version
2020v4.1
Gross Receipts
$375,073
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$99,973$91,273▼ $8,700
Cash and Non-Interest-Bearing Accounts$94,527$89,458▼ $5,069
Land, Buildings, and Equipment, Net$5,446$1,815▼ $3,631
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$99,973$91,273▼ $8,700
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$99,973$91,273▼ $8,700
Total Liabilities and Net Assets / Fund Balance$99,973$91,273▼ $8,700

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,815$118,246$120,061
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Michael RudnickPresident
Beth DanilekDirector
Doug WeferDirector
Sophie CowlesDirector
Jack CowlesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$26,150
Program Service Revenue
$346,089
Investment Income
$59
Other Revenue
$2,775
All Other Contributions
$5,150
Change in Net Assets
$-8,700
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$209,856
Salaries, Compensation, and Employee Benefits$173,917
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$153,942--$153,942
Fees for Services Other$113,252--$113,252
Insurance$16,761--$16,761
Travel$13,561--$13,561
Payroll Taxes$12,125--$12,125
Pension Plan Contributions$7,850--$7,850
Office Expenses$4,721--$4,721
Depreciation Depletion$3,631--$3,631
Fees for Services Accounting$1,871--$1,871
Other Expenses$383--$383
Total Functional Expenses$383,773$0$0$383,773
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
56 CEDAR GATE ROAD, DARIEN, CT 06820

Signing Officer

Name
Michael Rudnick
Title
President
Phone
2035691199
Signed
2021-10-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Rudnick
Formed
2016
Legal Domicile
Ct
Voting Board Members
4
Independent Board Members
4
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 113,252. Management and general expenses 0. Fundraising expenses 0. Total expenses 113,252.”

Raw XML Appendix355 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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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 113,252. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 113,252.
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/TotalAssetsBOYAmt099973
IRS990/TotalAssetsEOYAmt091273
IRS990/TotalAssetsGrp/BOYAmt099973
IRS990/TotalAssetsGrp/EOYAmt091273
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt026150
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0383773
IRS990/TotalFunctionalExpensesGrp/TotalAmt0383773
IRS990/TotalGrossUBIAmt059
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt099973
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt091273
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0383773
IRS990/TotalProgramServiceRevenueAmt0346089
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0348864
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0375073
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt059
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt099973
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt091273
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt013561
IRS990/TravelGrp/TotalAmt013561
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt055 CEDAR GATE ROAD
IRS990/USAddress/CityNm0DARIEN
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006820
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.LISOT.ORG
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL RUDNICK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02035691199
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LISOT SAILING FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0LISO
ReturnHeader/Filer/EIN0812660652
ReturnHeader/Filer/PhoneNum02035691199
ReturnHeader/Filer/USAddress/AddressLine1Txt056 CEDAR GATE ROAD
ReturnHeader/Filer/USAddress/CityNm0DARIEN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006820
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/ReturnTs02021-10-14T06:26:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RUDNICK
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$91,273
Liabilities
$0
Net assets
$91,273
Revenue
$375,073
Expenses
$383,773
Net income
-$8,700
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