Is United States Sailing Association Inc Legit?

The United States Sailing Association Inc. demonstrates a consistent operational scale, with annual revenues generally fluctuating around $10-11 million over the past decade, peaking at $14.8 million in 2022. However, the organization has frequently operated with expenses exceeding revenue, notably in 2023 where expenses of $12.27 million outstripped revenue of $9.48 million, leading to a deficit. This trend of deficit spending is also visible in 2021, 2019, 2018, and 2017. While assets have shown growth, reaching $13.8 million, liabilities have also increased significantly, from $2.18 million in 2014 to $9.16 million in 2023, indicating a reliance on debt or deferred revenue. The organization's financial health appears somewhat volatile due to these recurring deficits and increasing liabilities. The absence of reported officer compensation across all filings suggests either a highly volunteer-driven leadership or that compensation is reported under different categories, which could impact transparency regarding executive pay. Without a detailed breakdown of functional expenses (program, administrative, fundraising), it's challenging to fully assess spending efficiency. However, the consistent operational scale and asset growth suggest a stable, albeit sometimes deficit-operating, entity. Transparency regarding executive compensation is a notable area for improvement, as the 0% officer compensation reported across all filings is unusual for an organization of this size and revenue. Further detail on how leadership is compensated, if at all, would enhance public trust and understanding of resource allocation. The consistent filing of IRS Form 990s demonstrates a basic level of compliance and transparency.