Wayzata Sailing Foundation

Analysis

Wayzata Sailing Foundation is a registered charity in United States, based in Wayzata, MN. It received its IRS tax-exemption ruling in August 2001, 25 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wayzata Sailing Foundation reported income of $602k and spending of $651k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $602k (-50%), an average of -16% a year. The sharpest change came in the year to December 2021, when income rose by 72%. Over the whole period it spent 80% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Wayzata Sailing Foundation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within MN. Charities of a similar size with the same main cause include Boulder Rotary Club Foundation Inc ($602k), Nicolet National Foundation Inc ($602k) and Hancock Properties Foundation ($601k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $88k (14% of expenses). Other salaries and wages came to $60k. At year end it held assets of $4.2m against liabilities of $68k, net assets of $4.1m. It reported 38 employees.