Civic Intelligence

Lisot Sailing Foundation Inc

990 • Fiscal year 2023 • EIN 81-2660652

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 05, 2024

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

58th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

49th percentile

2.3%

Higher net margin than 49% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

69th percentile

15%

Faster asset growth than 69% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

54th percentile

8.1%

Faster revenue growth than 54% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets58th percentile

Assets

Up

$87,248

Up $11,421 (+15%) from 2022

Net Assets

Up

$87,248

Up $11,421 (+15%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin49th percentile

Revenue

Up

$490,064

Up $36,670 (+8.1%) from 2022

Expenses

Down

$478,643

Down $15,490 (-3.1%) from 2022

Net Income

Up

$11,421

Up $52,160 (+128%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth69th 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

2023

Assets$87,248
Liabilities$0
Net Assets$87,248
Open 2023 Filing

Operations Trend

Revenue Growth54th 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

2023

Revenue$490,064
Expenses$478,643
Net Income$11,421
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 5, 2024
Return Version
2023v5.1
Gross Receipts
$490,064
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
Cash and Non-Interest-Bearing Accounts$75,827$87,248▲ $11,421
Rtn Earn Endowment Incm Other Fnds$75,827$87,248▲ $11,421
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$75,827$87,248▲ $11,421
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$75,827$87,248▲ $11,421
Total Liabilities and Net Assets / Fund Balance$75,827$87,248▲ $11,421

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$131,061$131,061
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Michael RudnickPresident
Doug WeferDirector
Jack CowlesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$12,850
Program Service Revenue
$440,713
Investment Income
$24
Other Revenue
$36,477
All Other Contributions
$12,850
Change in Net Assets
$11,421
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$241,899
Other Expenses$236,744
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$210,914--$210,914
Fees for Services Other$82,165--$82,165
Travel$29,591--$29,591
Insurance$27,490--$27,490
Payroll Taxes$16,135--$16,135
Pension Plan Contributions$14,850--$14,850
Fees for Services Legal$12,051--$12,051
Fees for Services Accounting$7,110--$7,110
Office Expenses$2,306--$2,306
Other Expenses$165--$165
Total Functional Expenses$478,643$0$0$478,643
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
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 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
2024-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Rudnick
Formed
2016
Legal Domicile
Ct
Voting Board Members
3
Independent Board Members
3
Employees
3
Volunteers
10

Preparer

Firm
Reynolds & Rowella Llp
Address
90 GROVE STREET, RIDGEFIELD, CT 06877
Preparer
Ryan J Wisniewski CPA
Phone
2034380161
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Coaching services: program service expenses 82,165. Management and general expenses 0. Fundraising expenses 0. Total expenses 82,165.”

Raw XML Appendix337 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 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 82,165. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 82,165.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
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IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0478643
IRS990/TotalFunctionalExpensesGrp/TotalAmt0478643
IRS990/TotalGrossUBIAmt024
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt075827
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt087248
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0478643
IRS990/TotalProgramServiceRevenueAmt0440713
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0477190
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0490064
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt024
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt075827
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt087248
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt029591
IRS990/TravelGrp/TotalAmt029591
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt056 CEDAR GATE ROAD
IRS990/USAddress/CityNm0DARIEN
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006820
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.LISOT.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL RUDNICK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02035691199
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-05
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/IRSResponsiblePrtyInfoCurrInd00
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/PreparerPersonNm0RYAN J WISNIEWSKI CPA
ReturnHeader/ReturnTs02024-11-06T14:32:55-06:00
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
$87,248
Liabilities
$0
Net assets
$87,248
Revenue
$490,064
Expenses
$478,643
Net income
$11,421
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