Overview
What is The Inter-Lake Yachtsmen's Fund?
The Inter-Lake Yachtsmen's Fund is a nonprofit organization situated in Lancaster, Ohio. Their primary focus is on providing scholarships and grants to support the education, instruction, and coaching of youth in sports activities. In addition to this, they offer incentives through scholarships to encourage learning and proficiency in these activities. The organization is also dedicated to educating youth in the science of navigation, boatmanship, and seamanship, emphasizing safety and training for boat competitions. This comprehensive approach aims to combat juvenile delinquency, aligning with Section 501j of the IRC, which pertains to sports-related activities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Stars)
The Inter-Lake Yachtsmen's Fund has received an overall score of 80%, which translates to a Three-Star rating. This evaluation is based entirely on its Accountability & Finance metrics, reflecting a solid financial standing for the fiscal year 2022. Notably, the organization boasts a fully independent board, which is a strong indicator of governance integrity and transparency.
Strengths of the organization include a perfect score for its material diversion of assets, indicating that there are no issues with the misappropriation of funds. Additionally, the charity has a commendable program expense ratio of 79.29%, suggesting that a significant majority of its resources are directed toward its mission-related activities. The implementation of a conflict of interest policy and the documentation of board meeting minutes further demonstrate a commitment to accountability.
However, while the charity performs well on various metrics, the rating is solely based on financial accountability. As such, potential donors and supporters may want to consider additional qualitative factors, such as program impact and community feedback, to gain a fuller picture of the organization's overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is The Inter-Lake Yachtsmen's Fund legitimate?
The Inter-Lake Yachtsmen's Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Inter-Lake Yachtsmen's Fund 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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What is the mission statement of The Inter-Lake Yachtsmen's Fund?
The Inter-Lake Yachtsmen's Fund is dedicated to educating youth in the fields of navigation, boatmanship, and seamanship, emphasizing safety. This is done through training and participation in boating competitions. The primary objective is to combat juvenile delinquency, aligning with Section 501j of the Sports Act. The fund provides scholarships and grants to support the education, instruction, and coaching of young individuals in sports activities as incentives for learning and proficiency. This is in accordance with the Internal Revenue Code Section 501j.
Who is the CEO of The Inter-Lake Yachtsmen's Fund?
Steve Harris is the President of The Inter-Lake Yachtsmen's Fund.
What is the revenue of The Inter-Lake Yachtsmen's Fund?
The Inter-Lake Yachtsmen's Fund's revenue in 2022 was $31,261.
Who are the executives of The Inter-Lake Yachtsmen's Fund and what are their salaries?
There 20 volunteers at The Inter-Lake Yachtsmen's Fund.
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Where can I find the form 990 for The Inter-Lake Yachtsmen's Fund?
The Inter-Lake Yachtsmen's Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Inter-Lake Yachtsmen's Fund
The Inter-Lake Yachtsmen's Fund is committed to educating youth in the complexities of navigation, boatmanship, and seafaring, emphasizing safety as a crucial aspect. This nonprofit organization seeks to combat juvenile delinquency through boating competitions, all in accordance with Section 501j of the Sports Act. To achieve this mission, the Inter-Lake Yachtsmen's Fund provides scholarships and grants to support the education, instruction, and coaching of young individuals in sports activities. Furthermore, the fund uses scholarships as incentives to encourage and foster proficiency in these activities, in line with the Internal Revenue Code 501J.
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Impact
August, 2024
The Inter-Lake Yachtsmen's Fund has a significant impact on the education and development of youth in the areas of navigation, boatmanship, and seamanship. It provides scholarships and grants to support the education, training, and coaching of young individuals in sports activities related to boating. By offering incentives for learning and proficiency in these activities, the fund plays a crucial role in combating juvenile delinquency and promoting community improvement.
This information is meant to be a general summary of The Inter-Lake Yachtsmen's Fund. 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: $13,927
- Gross Receipts: $139,216
Assets and Liabilities:
- Total Assets: $693,086
- Total Liabilities: $0
- Net Assets: $693,086
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Organization Details
Founding Year
1919
Phone
(440) 227-0626Principal Officer
Steve Harris
Main Address
433 N BROAD ST, LANCASTER, OH, 43130
NTEE Category
Code: S41 - Community improvement
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