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Nonprofit · EIN 86-1989934

BERMUDA RACE FOUNDATION INC

Tax-exempt · NEWPORT, RI 02840

Financials

$299K$136K2022$61K$31K2023$713K$631K2024
Revenue Expenses · by fiscal year end
Financials of BERMUDA RACE FOUNDATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$713,202$630,795$82,407$741,637$0$741,637
December 31, 2023990$60,967$30,623$30,344$570,724$555$570,169
October 31, 2023990$299,437$135,708$163,729$543,109$3,284$539,825
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$19,929
Program service revenue
$669,997
Investment income
$23,276
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Program services (functional)
$607,668
Management and general (functional)
$22,655
Fundraising (functional)
$472

Balance sheet and other

Total assets, start of year
$570,724
Total assets, end of year
$741,637
Total liabilities, end of year
$0
Net assets, end of year
$741,637
Gross receipts
$713,202
Employees
0
Volunteers
180
Year formed
2021
State of legal domicile
RI

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.

NameTitleHours / weekCompensation
BRAD WILLAUERPRESIDENT
Trustee or director
1$0
JEFFREY EBERLETREASURER
Trustee or director
14$0
JAY GOWELLVICE PRESIDENT, SECRETARY
Trustee or director
1$0
PETER BECKERBOARD MEMBER
Trustee or director
1$0
HAL KEMPEBOARD MEMBER
Trustee or director
1$0
JIM BINCHBOARD MEMBER
Trustee or director
1$0
LES CRANEBOARD MEMBER
Trustee or director
1$0
NICK OREMBOARD MEMBER
Trustee or director
1$0
SOMERS KEMPEBOARD MEMBER
Trustee or director
1$0
JAMES PHYFEBOARD MEMBER
Trustee or director
1$0
CHANCE ANDERSONBOARD MEMBER
Trustee or director
1$0
BUDDY REGOBOARD MEMBER
Trustee or director
1$0
REBECCA ROBERTSBOARD MEMBER
Trustee or director
1$0
990 for the year ended December 31, 2023: 13 people
NameTitleHours / weekCompensation
BRAD WILLAUERPRESIDENT
Trustee or director
1$0
JEFFREY EBERLETREASURER
Trustee or director
14$0
JAY GOWELLVICE PRESIDENT, SECRETARY
Trustee or director
1$0
PETER BECKERBOARD MEMBER
Trustee or director
1$0
HAL KEMPEBOARD MEMBER
Trustee or director
1$0
JIM BINCHBOARD MEMBER
Trustee or director
1$0
LES CRANEBOARD MEMBER
Trustee or director
1$0
NICK OREMBOARD MEMBER
Trustee or director
1$0
SOMERS KEMPEBOARD MEMBER
Trustee or director
1$0
JAMES PHYFEBOARD MEMBER
Trustee or director
1$0
CHANCE ANDERSONBOARD MEMBER
Trustee or director
1$0
BUDDY REGOBOARD MEMBER
Trustee or director
1$0
REBECCA ADAMSBOARD MEMBER
Trustee or director
1$0
990 for the year ended October 31, 2023: 13 people
NameTitleHours / weekCompensation
BRAD WILLAUERPRESIDENT
Trustee or director
1$0
JEFFREY EBERLETREASURER
Trustee or director
14$0
JAY GOWELLVICE PRESIDENT, SECRETARY
Trustee or director
1$0
PETER BECKERBOARD MEMBER
Trustee or director
1$0
HAL KEMPEBOARD MEMBER
Trustee or director
1$0
JIM BINCHBOARD MEMBER
Trustee or director
1$0
LES CRANEBOARD MEMBER
Trustee or director
1$0
NICK OREMBOARD MEMBER
Trustee or director
1$0
SOMERS KEMPEBOARD MEMBER
Trustee or director
1$0
JAMES PHYFEBOARD MEMBER
Trustee or director
1$0
CHANCE ANDERSONBOARD MEMBER
Trustee or director
1$0
BUDDY REGOBOARD MEMBER
Trustee or director
1$0
REBECCA ADAMSBOARD MEMBER
Trustee or director
1$0

Address and contacts

Address (IRS master file)
449 THAMES ST, NEWPORT, RI 02840-6751
In care of
% JEFFREY L EBERLE
Mailing address (990-N for 2021)
6 WRIGHT FARM, CONCORD MA 01742
Principal officer (990 for 2024)
JEFFREY L EBERLE, 6 WRIGHT FARM, CONCORD, MA 01742
Principal officer (990-N for 2021)
JEFFREY EBERLE, 6 WRIGHT FARM, CONCORD MA 01742
Signed the 990
JEFFREY L EBERLE, TREASURER
Phone
(978) 287-1470
Return prepared by
Integrated Tax Consultants LLC

Mission

TO PROMOTE NATIONAL AND INTERNATIONAL AMATEUR SAILING COMPETITION BY CONDUCTING REGIONAL, NATIONAL AND INTERNATIONAL REGATTAS AND RACES, EDUCATIONAL SEMINARS, TRAINING, CONFERENCES AND MEETINGS REGARDING OFFSHORE RACING AND SAFETY AT SEA, AND TO SOLICIT, COLLECT AND EXPEND FUNDS FOR SUCH PURPOSES, AND ALL OTHER LEGAL PURPOSES UNDER SECTION 501(C)(3) OF THE CODE.

990 for the year ended December 31, 2024

Program accomplishments

  • SPONSOR, ORGANIZE, ADMINISTER, SCORE AND JUDGE THE BI-ANNUAL NEWPORT TO BERMUDA OCEAN YACHT RACE
    Expenses $471,688 · revenue $669,997
  • EDUCATE AND TRAIN INDIVIDUAL AMATEUR SAILORS FOR OFFSHORE NATIONAL AND INTERNATIONAL AMATEUR YACHT-RACING COMPETITION
    Expenses $104,802
  • HOSTING A PUBLIC EVENT, SEMINAR OR WORKSHOP
    Expenses $31,178

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
86-1989934
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
2022
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$741,637
Income (IRS master file)
$713,202

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$713,202$630,795$741,637XML
990December 2023$60,967$30,623$570,724XML
990October 2023$299,437$135,708$543,109XML
990-N for 2021
Officer: JEFFREY EBERLE
October 31, 2022≤ $50,000 receipts––e-Postcard

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 86-1989934).

Questions about BERMUDA RACE FOUNDATION INC

What is the EIN of BERMUDA RACE FOUNDATION INC?
The employer identification number (EIN) of BERMUDA RACE FOUNDATION INC is 86-1989934.
Is BERMUDA RACE FOUNDATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
Are donations to BERMUDA RACE FOUNDATION INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does BERMUDA RACE 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 BERMUDA RACE 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 BERMUDA RACE 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 BERMUDA RACE FOUNDATION INC?
The 990 for the year ended December 31, 2024 names JEFFREY L EBERLE.
Who are the officers and directors of BERMUDA RACE FOUNDATION INC?
The 990 for the year ended December 31, 2024 lists 13 people; 0 received compensation from the organization.
How much revenue does BERMUDA RACE FOUNDATION INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $713,202, expenses of $630,795 and total assets of $741,637 at year end.

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