Nonprofit · EIN 23-7178929
LAKE MINNETONKA SAILING SCHOOL INC
Tax-exempt · EXCELSIOR, MN 55331
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $704,195 | $764,484 | -$60,289 | $936,780 | $3,910 | $932,870 |
| December 31, 2023 | 990 | $746,900 | $621,802 | $125,098 | $1,002,186 | $0 | $1,002,186 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $34,100
- Program service revenue
- $639,951
- Investment income
- $26,471
- Net gain from sales of assets
- $7,319
- Net income from fundraising events
- $5,486
- Net income from sales of inventory
- -$1,813
- Other revenue
- $3,673
Expenses
- Grants and similar amounts paid
- $4,554
- Other salaries and wages
- $340,745
- Salaries, compensation and benefits (total)
- $366,604
- Professional fundraising fees
- $0
- Accounting fees
- $23,658
- Occupancy
- $11,532
- Travel
- $3,604
- Depreciation
- $48,920
- Program services (functional)
- $552,502
- Management and general (functional)
- $193,652
- Fundraising (functional)
- $18,330
Balance sheet and other
- Total assets, start of year
- $1,002,186
- Total assets, end of year
- $936,780
- Total liabilities, end of year
- $3,910
- Net assets, end of year
- $932,870
- Land, buildings and equipment
- $338,499
- Publicly traded securities
- $556,619
- Net assets without donor restrictions
- $932,870
- Gross receipts
- $958,705
- Employees
- 42
- Volunteers
- 50
- Year formed
- 1972
- State of legal domicile
- MN
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 |
|---|---|---|---|
| MARK SIGEL | PRESIDENT Trustee or director, Officer | 5 | $0 |
| TARA ENGEBRETSON | SECRETARY Trustee or director, Officer | 5 | $0 |
| BETH BOWER | DIRECTOR Trustee or director | 1 | $0 |
| MIKE HANLEY | TREASURER Trustee or director, Officer | 1 | $0 |
| LAURA KOTTKE | DIRECTOR Trustee or director | 1 | $0 |
| KATE LAING | DIRECTOR Trustee or director | 1 | $0 |
| JASON OSTBYE | DIRECTOR Trustee or director | 1 | $0 |
| HAYLEY HONTOS | DIRECTOR Trustee or director | 1 | $0 |
| HEATHER OLSON | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARK SIGEL | PRESIDENT Trustee or director, Officer | 5 | $0 |
| TARA ENGEBRETSON | SECRETARY Trustee or director, Officer | 5 | $0 |
| BETH BOWER | DIRECTOR Trustee or director | 1 | $0 |
| MIKE HANLEY | TREASURER Trustee or director, Officer | 1 | $0 |
| LAURA KOTTKE | DIRECTOR Trustee or director | 1 | $0 |
| KATE LAING | DIRECTOR Trustee or director | 1 | $0 |
| JASON OSTBYE | DIRECTOR Trustee or director | 1 | $0 |
| NATALIE SINN | DIRECTOR Trustee or director | 1 | $0 |
| MATT VANWYK | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 19802 MINNETONKA BLVD, EXCELSIOR, MN 55331-6704
- Principal officer (990 for 2024)
- TARA ENGEBRETSON, 19802 MINNETONKA BLVD, EXCELSIOR, MN 55331
- Signed the 990
- TARA ENGEBRETSON, SECRETARY
- Phone
- (952) 404-1645
- Website
- WWW.LMSS.US
- Return prepared by
- BOULAY PLLP
Mission
TO ENHANCE THE MENTAL AND PHYSICAL SKILLS OF OUR STUDENTS WHILE IGNITING A LIFETIME PASSION FOR THE SPORT OF SAILING.
Program accomplishments
- TO PROVIDE PUBLIC AND PRIVATE ADULT AND YOUTH SAILING INSTRUCTION, EDUCATION, PROGRAMS, AND COMPETITIONS.Expenses $552,502 · grants $4,554 · revenue $639,951
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
- 23-7178929
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1972
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N67P)
- Assets (IRS master file)
- $936,780
- Income (IRS master file)
- $958,705
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $704,195 | $764,484 | $936,780 | XML |
| 990 | December 2023 | $746,900 | $621,802 | $1,002,186 | XML |
| 990 | December 2022 | $480,912 | $526,319 | $809,888 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | 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 23-7178929).
Questions about LAKE MINNETONKA SAILING SCHOOL INC
- What is the EIN of LAKE MINNETONKA SAILING SCHOOL INC?
- The employer identification number (EIN) of LAKE MINNETONKA SAILING SCHOOL INC is 23-7178929.
- Is LAKE MINNETONKA SAILING SCHOOL INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1972.
- Are donations to LAKE MINNETONKA SAILING SCHOOL INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LAKE MINNETONKA SAILING SCHOOL 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 LAKE MINNETONKA SAILING SCHOOL 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 LAKE MINNETONKA SAILING SCHOOL 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 LAKE MINNETONKA SAILING SCHOOL INC?
- The 990 for the year ended December 31, 2024 names TARA ENGEBRETSON.
- Who are the officers and directors of LAKE MINNETONKA SAILING SCHOOL INC?
- The 990 for the year ended December 31, 2024 lists 9 people; 0 received compensation from the organization.
- How much revenue does LAKE MINNETONKA SAILING SCHOOL INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $704,195, expenses of $764,484 and total assets of $936,780 at year end.
Other nonprofits in EXCELSIOR
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- MINNETONKA LACROSSE ASSOCIATION EIN 20-1023864 · last filed 990 for 2025
- MINNETONKA GIRLS BASKETBALL ASSOCIATION EIN 80-0591135 · last filed 990 for 2025
- COMMUNITY FOR THE COMMONS EIN 47-3932701 · last filed 990 for 2025
- SKIPPERS FASTBREAK CLUB EIN 81-5441917 · last filed 990-EZ for 2025
- MHS SOCCER BOOSTER CLUB EIN 46-3740022 · last filed 990-EZ for 2024
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All nonprofits in EXCELSIOR · Minnesota · Recreation and sports