Is The Sailing Foundation Of New York Inc Legit?

The Sailing Foundation Of New York Inc demonstrates a fluctuating but generally strong financial position, particularly in its most recent filing. In 2023, the organization reported a significant increase in revenue to $1,384,074, far exceeding its expenses of $433,237, leading to a substantial growth in assets to $1,057,532 with no reported liabilities. This indicates excellent financial management and a healthy surplus for future operations. While revenue and expenses have varied considerably over the years, the consistent absence of officer compensation and liabilities across all reported periods suggests a commitment to minimizing overhead and maintaining a clean financial slate. The organization's spending efficiency appears robust, especially in the latest period where expenses were well below revenue. The NTEE code N70 (Sailing & Boating) suggests a focus on program-related activities, and the lack of officer compensation implies that a higher proportion of funds likely goes directly to these programs rather than executive salaries. The consistent reporting of zero liabilities further enhances its financial stability and transparency, as it avoids debt and maintains a clear financial structure. Transparency is a notable strength, primarily due to the consistent filing of IRS Form 990s over 13 periods and the clear reporting of zero officer compensation and liabilities. This long history of public filings allows for thorough scrutiny of its financial activities. The absence of executive compensation simplifies the financial structure and suggests a volunteer-driven leadership, which can be a positive indicator for donors looking for efficient use of funds.