Nonprofit · EIN 11-3561278
USMMA SAILING FOUNDATION INC
Tax-exempt · KINGS POINT, NY 11024
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $13,938,804 | $17,290,131 | -$3,351,327 | $38,587,035 | $1,043,565 | $37,543,470 |
| December 31, 2023 | 990 | $17,989,915 | $17,879,302 | $110,613 | $41,682,319 | $787,522 | $40,894,797 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $16,771,921
- of which government grants
- $200,366
- Program service revenue
- $0
- Investment income
- -$4,041,312
- Net rental income
- $11,100
- Net gain from sales of assets
- -$4,041,315
- Net income from sales of inventory
- $886,942
- Other revenue
- $1,208,195
Expenses
- Grants and similar amounts paid
- $166,496
- Compensation of officers, directors and key employees
- $297,398
- Other salaries and wages
- $142,741
- Salaries, compensation and benefits (total)
- $528,033
- Professional fundraising fees
- $0
- Legal fees
- $81,155
- Accounting fees
- $167,900
- Travel
- $994,867
- Depreciation
- $6,358,895
- Program services (functional)
- $16,761,348
- Management and general (functional)
- $333,686
- Fundraising (functional)
- $195,097
Balance sheet and other
- Total assets, start of year
- $41,682,319
- Total assets, end of year
- $38,587,035
- Total liabilities, end of year
- $1,043,565
- Net assets, end of year
- $37,543,470
- Land, buildings and equipment
- $37,170,921
- Net assets without donor restrictions
- $37,341,393
- Net assets with donor restrictions
- $202,077
- Gross receipts
- $18,733,495
- Employees
- 5
- Volunteers
- 4
- Year formed
- 2000
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RALF STEITZ | PRESIDENT Trustee or director, Officer | 40 | $131,998 | $25,000 |
| LARRY A LARSEN | SECRETARY/TREASURER Officer | 40 | $140,400 | $0 |
| JEFFERY G NEUBERTH | CHAIRMAN Trustee or director, Officer | 3 | $0 | $0 |
| PAUL STRAUCH | TRUSTEE Trustee or director | 3 | $0 | $0 |
| BRIAN GIORGIO | TRUSTEE Trustee or director | 3 | $0 | $0 |
| CHRISTOPHER J GASIOREK | TRUSTEE Trustee or director | 3 | $0 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RALF STEITZ | PRESIDENT Trustee or director, Officer | 40 | $125,000 | $25,000 |
| LARRY A LARSEN | SECRETARY/TREASURER Officer | 40 | $140,400 | $0 |
| JEFFERY G NEUBERTH | CHAIRMAN Trustee or director, Officer | 3 | $0 | $0 |
| PAUL STRAUCH | TRUSTEE Trustee or director | 3 | $0 | $0 |
| BRIAN GIORGIO | TRUSTEE Trustee or director | 3 | $0 | $0 |
| CHRISTOPHER J GASIOREK | TRUSTEE Trustee or director | 3 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 300 STEAMBOAT ROAD YOCUM SAILING C, KINGS POINT, NY 11024-1634
- In care of
- % LARRY A LARSEN
- Principal officer (990 for 2024)
- LARRY A LARSEN, PO BOX 1199, SPRING HILL, TN 37174
- Signed the 990
- LARRY A LARSEN, TREASURER
- Phone
- (615) 465-8201
- Return prepared by
- CONDON O'MEARA MCGINTY & DONNELLY LLP
Mission
TO SUPPORT THE UNITED STATES MERCHANT MARINE ACADEMY AND OTHER 501(C)(3) ORGANIZATIONS AND CONDUCT MARITIME EDUCATION AND TRAINING.
Program accomplishments
- THE FOUNDATION SUPPORTS VARIOUS SAILING PROGRAMS WHICH PROVIDE HANDS-ON LEARNING OPPORTUNITIES FOR YOUTH, COLLEGE SAILORS, AND ASPIRING MARINERS. DONATED VESSELS ARE USED BY THE U.S. MERCHANT MARINE ACADEMY IN WATERFRONT TRAINING PROGRAMS INCLUDING VARSITY SAILING TEAMS AND CLUBS, WHICH IMPART FUNDAMENTAL CONCEPTS OF SEAMANSHIP AND LEADERSHIP. THROUGH THE WARRIOR SAILING PROGRAM, THE FOUNDATION PROVIDES MARITIME EDUCATION FOR WOUNDED, ILL, AND INJURED SERVICE MEMBERS AND INTRODUCES THEM TO THE SPORT OF SAILING AND SAILBOAT RACING. THE FOUNDATION PROVIDES VESSELS FOR SPONSORED RACES, GIVING YOUNG SAILORS HANDS-ON EDUCATIONAL OPPORTUNITIES IN SEAMANSHIP.Expenses $16,761,348 · grants $166,496
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 11-3561278
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2000
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B114)
- Assets (IRS master file)
- $38,587,035
- Income (IRS master file)
- $18,733,495
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $13,938,804 | $17,290,131 | $38,587,035 | IRS |
| 990 | December 2023 | $17,989,915 | $17,879,302 | $41,682,319 | XML |
| 990 | December 2022 | $23,174,349 | $14,502,572 | $41,405,905 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 11-3561278).
Questions about USMMA SAILING FOUNDATION INC
- What is the EIN of USMMA SAILING FOUNDATION INC?
- The employer identification number (EIN) of USMMA SAILING FOUNDATION INC is 11-3561278.
- Is USMMA SAILING FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2000.
- Are donations to USMMA SAILING FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does USMMA SAILING FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of USMMA SAILING FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did USMMA SAILING FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of USMMA SAILING FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names LARRY A LARSEN.
- Who are the officers and directors of USMMA SAILING FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 6 people; 2 received compensation from the organization, the highest $131,998 (RALF STEITZ, PRESIDENT).
- How much revenue does USMMA SAILING FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $13,938,804, expenses of $17,290,131 and total assets of $38,587,035 at year end.
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