Overview
What is 12 Metre Yacht Development Foundation?
The 12 Metre Yacht Development Foundation, located in Southport, Connecticut, is a nonprofit organization with a focus on preserving the historical significance of America's Cup 12-meter yachts and their racing legacy. Despite reduced revenue due to ongoing recovery, they have utilized a third Small Business Administration (SBA) loan to manage their expenses. The foundation's mission encompasses the acquisition, restoration, and conservation of these iconic vessels, safeguarding their rich maritime heritage for future generations.
Official website here: www.12mydf.org
Is 12 Metre Yacht Development Foundation legitimate?
12 Metre Yacht Development Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. 12 Metre Yacht Development Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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Official website here: www.12mydf.org
What is the mission statement of 12 Metre Yacht Development Foundation?
The 12 Metre Yacht Development Foundation was established with the mission to acquire, restore, and preserve historic America's Cup 12-metre yachts and their racing heritage. This organization is dedicated to safeguarding the legacy of these iconic vessels and their rich racing history. The maintenance costs associated with these yachts remain substantial, and to cover these expenses, the foundation has received assistance from the Small Business Administration (SBA) on occasion. However, their revenue has been impacted due to being in a recovery year.
Official website here: www.12mydf.org
Who is the CEO of 12 Metre Yacht Development Foundation?
Scott Macleod is the Trustee of 12 Metre Yacht Development Foundation.
Official website here: www.12mydf.org
What is the revenue of 12 Metre Yacht Development Foundation?
12 Metre Yacht Development Foundation's revenue in 2022 was $215,500.
Official website here: www.12mydf.org
Who are the executives of 12 Metre Yacht Development Foundation and what are their salaries?
There 100 volunteers at 12 Metre Yacht Development Foundation.
Here are 5 key members and their salaries:
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Official website here: www.12mydf.org
Where can I find the form 990 for 12 Metre Yacht Development Foundation?
12 Metre Yacht Development Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.12mydf.org
Learn more at the official website: www.12mydf.org
Mission Statement of 12 Metre Yacht Development Foundation
The 12 Metre Yacht Development Foundation has been established with a mission to acquire, restore, and preserve historic America's Cup 12-meter yachts and their racing heritage. This nonprofit organization is dedicated to safeguarding these iconic vessels and the rich tradition of sailing they represent. Despite the significant costs involved in maintaining the vessels, the foundation continues to persevere, leveraging resources such as Small Business Administration loans to help cover expenses. However, revenue has been impacted due to the ongoing recovery phase, highlighting the challenges faced by the foundation in its mission.
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Impact
October, 2024
The 12 Metre Yacht Development Foundation plays a crucial role in preserving the maritime heritage associated with America's Cup 12 Metre yachts. By acquiring, restoring, and maintaining these historic vessels, the foundation ensures that the rich racing legacy and craftsmanship of these iconic yachts are not lost to future generations.
Despite the challenges of reduced revenue during recovery years, the foundation remains committed to its mission. The ongoing expenses for vessel maintenance highlight the dedication to keeping these yachts in excellent condition, enabling them to be showcased in events, educational programs, and exhibitions that celebrate their history.
The impact extends beyond the preservation of boats; it fosters a sense of community, promotes maritime arts, and enhances cultural appreciation through the legacy of yacht racing. This dedication to historic preservation enriches the local area of Southport, CT, while also influencing awareness and interest in sailing and maritime traditions on a broader scale.
This information is meant to be a general summary of 12 Metre Yacht Development Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $215,500
Assets and Liabilities:
- Total Assets: $401,507
- Total Liabilities: $398,832
- Net Assets: $2,675
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Organization Details
Founding Year
2006
Phone
(203) 656-1182Principal Officer
Scott Macleod
Main Address
PO BOX 964, Southport, CT, 06890
Website
www.12mydf.orgNTEE Category
Code: A85J - Arts
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