Overview
What is Inland Lake Yachting Associationin?
The Inland Lake Yachting Associationin, situated in East Troy, Wisconsin, serves as a nonprofit organization with a mission to foster and promote amateur yachting and yacht racing on the inland lakes of the Midwest United States. They actively publicize, co-organize, and co-host competitive sailing events and junior training sessions within this region. With a small team of dedicated individuals, their primary objective is to encourage and develop an interest in yachting and racing activities among the local community.
Official website here: www.ilya.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star rating.
The Inland Lake Yachting Association has received an 88% score, which indicates a strong performance in terms of accountability and finance. This rating reflects a solid commitment to transparency and proper governance, highlighted by a fully independent board and robust financial practices. With a program expense ratio of nearly 94%, the organization demonstrates its dedication to utilizing funds effectively for its programs.
Strengths of the organization include having no material diversion of assets and comprehensive financial statements, which are reviewed or compiled. Additionally, the Association has implemented effective oversight policies, such as a conflict of interest policy and documented board meeting minutes. These factors contribute to a positive view of the nonprofit's operational integrity.
However, there are areas for improvement, notably the lack of a whistleblower policy, which may raise concerns about internal reporting mechanisms. While the organization shows a strong financial standing, continuing to address governance gaps can further enhance its credibility and effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Inland Lake Yachting Associationin legitimate?
Inland Lake Yachting Associationin is a legitimate nonprofit organization registered as a 501(c)(3) entity. Inland Lake Yachting Associationin 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $48,226
For more financial information, click here
Official website here: www.ilya.org
What is the mission statement of Inland Lake Yachting Associationin?
The Inland Lake Yachting Association's mission is centered around encouraging, developing, promoting, and fostering amateur yachting and yacht racing in the inland lakes of the Midwest in the United States. Their primary objective is to nurture this nautical activity, with a focus on the Midwest region. They accomplish this by organizing and co-hosting competitive sailing events and junior training sessions in the Midwest USA. The association aims to cultivate a vibrant sailing community and provide opportunities for skill development for amateur sailors.
Official website here: www.ilya.org
Who is the CEO of Inland Lake Yachting Associationin?
Todd Haines is the Commodore of Inland Lake Yachting Associationin.
Official website here: www.ilya.org
What is the revenue of Inland Lake Yachting Associationin?
Inland Lake Yachting Associationin's revenue in 2022 was $609,524.
Official website here: www.ilya.org
Who are the executives of Inland Lake Yachting Associationin and what are their salaries?
The average compensation at Inland Lake Yachting Associationin during 2022 was $48,226. There is 1 employee and 50 volunteers at Inland Lake Yachting Associationin.
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Official website here: www.ilya.org
Where can I find the form 990 for Inland Lake Yachting Associationin?
Inland Lake Yachting Associationin's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ilya.org
Learn more at the official website: www.ilya.org
Mission Statement of Inland Lake Yachting Associationin
Inland Lake Yachting Association, a renowned organization, is committed to encouraging, developing, promoting, and fostering amateur yachting and yacht racing on the inland lakes of the Midwest in the United States. Their mission is multifaceted and aimed at nurturing a thriving yachting community within this region.
The association's primary objective is to publicize, co-organize, and co-host competitive sailing events and junior training events across the Midwest USA. By doing so, they aim to create an environment that encourages both seasoned yachtsmen and budding sailors to engage in the sport, fostering a sense of camaraderie and shared passion for yachting.
Inland Lake Yachting Association's mission is not limited to organizing events. They also play a vital role in promoting amateur yachting and racing, thereby ensuring the continued growth and development of the sport within their designated region. This commitment to the yachting community is a testament to the association's dedication to preserving and nurturing this traditional pastime for future generations.
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Impact
July, 2024
The Inland Lake Yachting Association has had a significant impact on amateur yachting and yacht racing on the inland lakes of the Midwest United States. By encouraging, developing, promoting, and fostering these activities, they have created opportunities for individuals to engage in competitive sailing events and junior training events in the region. Their efforts have not only enhanced the sport of yachting but have also contributed to the growth and development of the sailing community in the Midwest USA.
This information is meant to be a general summary of Inland Lake Yachting Associationin. 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: $11
- Program Service Revenue: $291,024
- Gross Receipts: $609,524
Assets and Liabilities:
- Total Assets: $327,010
- Total Liabilities: $40,001
- Net Assets: $287,009
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REGATTA REVENUE
Revenue
$197,886
ANNUAL MEMBERSHIP FEES
Revenue
$44,406
REGATTA PARTNER INCOME
Revenue
$25,450
MEMBER CLUBS
Revenue
$15,475
SCOWLINES AND WEBSITE
Revenue
$4,219
Organization Details
Founding Year
1957
Phone
(847) 675-6434Principal Officer
Todd Haines
Main Address
PO BOX 662, EAST TROY, WI, 53120
Website
www.ilya.orgNTEE Category
Code: N67 - Recreation
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