Overview
What is Sail Newport?
Sail Newport, located at 72 Fort Adams Drive, Newport, Rhode Island 02840, is a dedicated nonprofit organization committed to the promotion and operation of public sailing facilities. Their primary mission involves encouraging and fostering sailing events and educational programs to attract new participants to the sport. With a team of 49 employees, Sail Newport offers affordable sailing instruction, rental programs, and creates opportunities for sailors of all levels. Their operations in Newport contribute to the coastal community and the wider sailing community, promoting the enjoyment and skill development in sailing.
Official website here: www.sailnewport.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Sail Newport has received a two-star rating from Charity Navigator, indicating that while the organization has several strengths, there are notable areas for improvement. The nonprofit boasts a strong accountability and finance score of 69%, reflecting effective management of its assets. Key strengths include a fully independent board of directors and a healthy program expense ratio of 89.02%, suggesting that a significant portion of its funding goes directly to its programs.
However, the organization faces critical shortcomings in its governance practices, with missing policies for conflict of interest, whistleblowing, and document retention. These omissions may raise concerns about transparency and accountability, which are essential for building trust with donors and stakeholders. Addressing these governance issues could enhance the organization's overall rating and demonstrate a commitment to best practices in nonprofit management.
In summary, Sail Newport shows promise with its financial responsibility and independent oversight, but it must prioritize developing essential governance policies to improve its rating and ensure long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Sail Newport legitimate?
Sail Newport is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sail Newport 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:
Executive Compensation: $157,044
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,082,082
For more financial information, click here
Official website here: www.sailnewport.org
What is the mission statement of Sail Newport?
Sail Newport's mission is to actively promote and manage affordable sailing instruction and rental programs. Their primary goal is to attract new individuals to the sport by creating engaging opportunities. By operating a public sailing facility, they aim to make sailing more accessible to a broader audience. This organization's mission is centered around encouraging and fostering a love for sailing through educational programs and events.
Official website here: www.sailnewport.org
Who is the CEO of Sail Newport?
Brad Read is the President of Sail Newport.
Official website here: www.sailnewport.org
What is the revenue of Sail Newport?
Sail Newport's revenue in 2022 was $3,014,185.
Official website here: www.sailnewport.org
Who are the executives of Sail Newport and what are their salaries?
The average compensation at Sail Newport during 2022 was $25,288. There are 49 employees and 30 volunteers at Sail Newport.
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- Compensation: $145,082
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- Other: $4,379
Official website here: www.sailnewport.org
Where can I find the form 990 for Sail Newport?
Sail Newport's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.sailnewport.org
Learn more at the official website: www.sailnewport.org
Mission Statement of Sail Newport
Sail Newport, a nonprofit organization, is dedicated to fostering and popularizing sailing events and educational programs. At its core, Sail Newport's mission is to promote and manage affordable public sailing instruction and rental programs, with the aim of attracting new sailors to the sport. By operating a public sailing facility, Sail Newport creates opportunities for individuals to engage in the sport, thereby encouraging its growth and accessibility to a wider audience.
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Impact
October, 2024
Sail Newport significantly enhances the local community and promotes the sport of sailing by providing affordable public sailing instruction and rental programs. Operating a public sailing facility in Newport, Rhode Island, it encourages participation in sailing events and educational programs, facilitating access for individuals of all ages and skill levels. By fostering an inclusive environment, Sail Newport attracts newcomers to sailing, ensuring the continued growth and vitality of the sport. This commitment not only enriches the recreational landscape of Newport but also strengthens community ties through shared experiences on the water.
This information is meant to be a general summary of Sail Newport. 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.
- Investment Income: $159,624
- Program Service Revenue: $1,011,337
- Gross Receipts: $3,059,984
Assets and Liabilities:
- Total Assets: $8,009,967
- Total Liabilities: $307,677
- Net Assets: $7,702,290
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
YOUTH AND ADULT INSTRUCTION
Revenue
$544,664
MAJOR MARINE EVENT-OCEAN RACE
Revenue
$250,000
EVENTS AND REGATTAS
Revenue
$216,673
Organization Details
Founding Year
1983
Phone
(401) 846-1983Principal Officer
Brad Read
Main Address
72 FORT ADAMS DRIVE, NEWPORT, RI, 02840
Website
www.sailnewport.orgNTEE Category
Code: N67Z - Recreation
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