EIN: 47-3101784 · Portland, ME · Data spans: TY2018–TY2024
Most recent filing: Tax Year 2024.
A more recent filing may not yet be published.
Sailing's public record, made legible. All numbers come directly from this organization's own sworn 990 filing. Patterns are computed from years of filings — not assessments or judgments.
Read trends in context: compare like with like, note the filing year, and treat major disruptions (like 2020–2021) as discontinuities rather than a continuous baseline.
Missing or N/A does not always mean absent. It can mean the item was not disclosed on that form, not collected on that filing type, or not available for that year.
$775,720
$304,417
$856,067
$362,965
5 W-2 employees reported (Form W-3, most recent filing — contractors and volunteers excluded) · TY2024 · 990
Total compensation, benefits & payroll taxes (Part IX)
TY2024$23,561
Full cost to employ everyone — wages + employer benefits + payroll taxes. Not officer pay alone.
~$5,000 per employee ⓘ — average across 5 W-2 employees; includes benefits & payroll taxes; part-time and seasonal staff counted at full weight.
Named officers/key employees (Part VII‑A) show reportable compensation only and are already included in the Part IX total above. They are not additive.
Professional & consulting fees (Part IX, line 11)
TY2024$16,388
Payments to outside firms and independent contractors — not included in the Part IX labor total above. Combined with the labor total, full people cost is $39,949.
Functional Expense Allocation (Part IX)
TY2024$304,417total functional expenses
82.8%
Program services
$252,150
17.2%
Management & general
$52,267
0.0%
Fundraising
$0
Source: Form 990, Part IX, line 25. A higher program-service percentage generally indicates more mission-directed spending.
Historical Trends
Revenue vs. Expenses
Net Revenue / Operating Margin
Net Assets
Revenue Trend
| Tax Year | Period | Form | Revenue | Expenses | Net Revenue | Net Assets |
|---|---|---|---|---|---|---|
| TY2018 | Before 2020 | 990 | $241,222 | $89,017 | $152,205 | $65,404 |
| TY2020 | 2020–2021 | 990 | $222,084 | $345,026 | -$122,942 | -$143,942 |
| TY2021 | 2020–2021 | 990 | $803,946 | $901,682 | -$97,736 | -$252,790 |
| TY2022 | 2022+ | 990 | $1,392,588 | $1,271,528 | $121,060 | -$127,044 |
| TY2023 | 2022+ | 990 | $733,754 | $715,048 | $18,706 | -$108,338 |
| TY2024 | 2022+ | 990 | $775,720 | $304,417 | $471,303 | $362,965 |
Revenue trend is a filing-history view. It helps you compare operating periods, not infer the club's live condition today.
Revenue Breakdown (Part VIII — most recent year)
Form 990, Part VIII — Statement of Revenue. Includes, but is not limited to: Line 1 = contributions and grants (including member dues reported as contributions). Lines 2a–2f = program service revenue (activities that directly further the organization's exempt purpose). Line 3 = investment income. The specific mix varies by organization type. Source: the organization's own sworn filing.
| Line | Description | Amount |
|---|---|---|
| 12 | Total revenue | $775,720 |
| 1e | Government grants (contributions) | $142,143 |
| 1f | All other contributions, gifts, grants | $563,755 |
| 1g | Noncash contributions included in 1a-1f | $485,450 |
| 1h | Total contributions and grants | $705,898 |
| 2a | Tall Ship Education Program | $73,420 |
| 2f | Total program service revenue | $73,420 |
Most revenue is reported in a single category this year. That can be normal for some org types; see the source filing for detail.
Balance Sheet (Part X)
TY2024| Line | Description | BOY | EOY |
|---|---|---|---|
| 16 | Total assets | $407,266 | $856,067 |
| 26 | Total liabilities | $515,604 | $493,102 |
| 33 | Total net assets or fund balances | -$108,338 | $362,965 |
Source: Form 990, Part X, Balance Sheet.
Officers & Key Staff (Part VII)
How to read this section
This is not a full staff directory. It is the subset of people the organization had to disclose in Form 990, Part VII (the officer, director, trustee, key employee, and highest-compensated employee section of the filing). Why this matters: a missing name does not mean a person was not employed or involved.
Total Volunteer Board Hours/Week (Selected Year): 28
Hours per week are self-reported by each officer on Form 990, Part VII. They are not verified.
Officers and directors as reported on Form 990, Part VII. These are typically unpaid, elected positions. If an officer receives compensation, it will appear in the Paid Staff tab.
Operationally, this section is most useful for understanding disclosed leadership structure, compensation visibility, and board labor — not for reconstructing the full staffing model of a club.
| Name | Title | Hours/Week | Status |
|---|---|---|---|
| Carolin Austyn | Director | 1 | Volunteer |
| Alex Agnew | President | 20 | Volunteer |
| Richard Olson | Secretary | 1 | Volunteer |
| Jon Radtke | Director | 1 | Volunteer |
| Christopher Nolan | Director | 1 | Volunteer |
| Michelle Thresher | Director | 1 | Volunteer |
| Chris Wellins | Director | 1 | Volunteer |
| Mak Sprague | Director | 1 | Volunteer |
| John J Martin CPA | Treasurer | 1 | Volunteer |
Governance & Transparency Signals
The IRS Form 990 is a sworn disclosure document — not just a tax return. Beyond financials, it captures governance policies, compensation practices, and relationships between insiders and the organization. Every category below comes directly from that filing. When a field is blank, it is often because this form type doesn’t require it, or the org doesn’t meet the threshold that triggers disclosure. That context is itself worth knowing.
Conflict of Interest Policy
Form 990, Part VI — Line 12a
No conflict of interest policy reported. Without one, there is no documented mechanism for identifying when a board member has a personal financial stake in a decision — or for recusing them when they do. The IRS doesn’t legally require this policy, but its absence is a factor they weigh when scrutinizing excess benefit transactions. Most volunteer-run clubs handle conflicts informally; a formal policy matters most when the stakes — contract size, executive pay, vendor selection — get larger.
Whistleblower Protection Policy
Form 990, Part VI — Line 13
No whistleblower protection policy reported. Without a documented process, a staff member or volunteer who notices irregular transactions has no protected channel to report it — and no written assurance they won’t face consequences for raising the issue. The IRS added this question in 2008 following Sarbanes-Oxley. Absence does not imply wrongdoing; many small clubs haven’t formalized this in writing even when informal norms are healthy.
Officer & Key Employee Compensation (Part VII)
Form 990, Part VII — Named individuals with reportable compensation
No individual compensation reported for this organization in the most recent filing.
This is the norm for volunteer-run sailing clubs. Part VII still exists in the filing — it simply shows $0 compensation for all listed officers and directors, meaning this club is led entirely by unpaid volunteers. When you see compensation appear here in other organizations, it marks a meaningful transition: the club has grown to the point where professional management was hired. The largest clubs in this corpus — those above $3M in revenue — are the most likely to have paid executive staff.
Independent Compensation Consultant
Schedule J, Part I — Organizations filing when comp exceeds $150K
No independent compensation consultant reported for the most recent year with Schedule J data (2021). Executive pay was set through internal board processes — a compensation committee, comparison to prior years, or board vote — without outside benchmarking. This is common and not inherently concerning for organizations paying market-rate salaries. It becomes more notable as compensation levels rise and the board’s judgment becomes harder to validate externally.
Equity-Based Compensation
Schedule J, Part II — Per-person compensation detail
No equity-based compensation reported — expected for a nonprofit. Nonprofits cannot issue ownership stakes because they have no shareholders. In the for-profit world, equity aligns executive incentives with long-term value creation; the nonprofit analog takes different forms (retention bonuses, deferred comp) but not equity. Zero percent of organizations in the sailing and yacht club corpus report this. If any did, it would immediately raise questions about whether the arrangement is consistent with tax-exempt status.
Related-Party Transactions (Schedule L)
Schedule L — Transactions with Interested Persons (officers, directors, their families, controlled entities)
Schedule L requires disclosure of loans, grants, and business transactions between the organization and its own insiders — board members, officers, key employees, and their family members or entities they control. Nonprofits are not prohibited from transacting with insiders, but they must disclose it, follow fair-market-value standards, and document that the transaction benefited the organization, not just the insider. These disclosures exist because self-dealing is the most direct way nonprofit assets can flow to those in control.
7 transactions found across all available filing years. Sorted largest to most recent.
| Person / Entity | Relationship | Type | Amount | Year |
|---|---|---|---|---|
| Alex Agnew | President | loan | $391,047 | 2024 |
| Alex Agnew | President | loan | $391,141 | 2023 |
| John Martin | Treasurer | loan | $30,000 | 2023 |
| Alex Agnew | President | loan | $380,563 | 2022 |
| Alex Agnew | President | loan | $380,500 | 2021 |
| Alex Agnew | President | loan | $255,500 | 2020 |
| Alex Agnew | President | loan | $80,500 | 2018 |
⚠️ Entity-controlled transactions detected. One or more transactions involve an entity owned or controlled by a board officer. Even if terms are fair, this is a related-party transaction of the highest order: the lender has direct influence over whether the loan is repaid, on what terms, and whether it was structured to benefit the club or themselves. Key questions: Was interest charged at market rate? Did a disinterested board majority approve it? Is there a documented repayment schedule?
📋 Context note. Where available, transactional context may be supplemented by audited financial statements or other independent disclosures that are not derived from 990 XML data alone. When an independent audit confirms the terms, repayment schedule, and arm's-length pricing of a related-party loan, the transaction carries a materially different risk profile than the 990 alone would suggest.
Voting Board Members
9
Independent Members
9
Total Employees
5
Total Volunteers
10
Schedule O — Supplemental Information (most recent year)
Organizations use Schedule O to provide additional explanation for answers given on the main 990 form. These are direct excerpts from the filed document.
Pt VI, Line 11b
Copies of Form 990 along with all supporting documentation are made available to the Board for review and commentary.
Pt VI, Line 19
Documents are available upon request to the public
Form 990, Part IX, Line 24e
Dockage 1341. 1341. 0. 0.
Form 990, Part IX, Line 24e
Food Costs 3408. 3408. 0. 0.
Form 990, Part IX, Line 24e
Fuel Costs 205. 205. 0. 0.
Mission
Provide scholarships and educational voyages/workshops to students age 14-18 to teach teamwork, leadership and marine/sailing.
As stated in the organization's 990 filing.
IRS Source Filings
Source filings are IRS e-file records in XML (Extensible Markup Language) format — a structured data standard used by the IRS for electronic filing. If you open one of these links, it will look like code. That's not an error — that's what XML looks like. Harbor Commons processes this raw XML and presents the structured, readable view you see above.
Why this matters: the XML is the receipt. Harbor Commons is the reading layer on top of that receipt. If you ever need to verify a number, wording choice, or disclosure, the source filing is where to check.
Similar Organizations
Finding peer organizations…
Capacity Signals
Auto-detected patterns from this organization's own IRS filing history. Signals are relative to this org's trend only — not peer comparisons, not judgments.
Private clubs are naturally labor-heavy. Always interpret signals against this organization's own context before drawing conclusions.
Labor's share of expenses fell sharply
Labor costs as a share of total expenses dropped 23 percentage points in one year — from 31% (TY2023) to 8% (TY2024).
Why it matters: A rapid shift in cost mix can indicate outsourcing, capital investment, or a change in program delivery model — each with different capacity implications.
Operator question: Did non-labor costs rise (capital project, insurance spike, contractor shift), or did the organization reduce its labor investment relative to activity?
Revenue per employee rose sharply
Revenue per employee grew 234% over two years (TY2022–TY2024), well above typical inflation. This can reflect genuine revenue growth, reduced staffing relative to revenue, or a one-time revenue event.
Why it matters: High revenue per employee can reflect operational efficiency — or understaffing. The program model and revenue mix should be checked before drawing conclusions.
Operator question: Did the revenue base change (new programs, dues increase, capital campaign receipt), or did staffing fall behind revenue growth?
Phase 2 signals (contractor substitution, benefits share changes) require Part IX line-level data and are not yet available. All computations use IRS-filed data only; no external benchmarks or CPI adjustments beyond a 3% per year inflation proxy.
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