Sailfuture Inc

Analysis

Sailfuture Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in November 2013, 13 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Sailfuture Inc reported income of $3.7m and spending of $2.6m, leaving 29% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $640k to $3.7m (+480%), an average of +55% a year. The sharpest change came in the year to June 2020, when income rose by 171%. Over the whole period it spent 74% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Sailfuture Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 92nd percentile within FL. Charities of a similar size with the same main cause include Ciclavia Inc ($3.7m), National Sports Center for the Disabled Inc ($3.7m) and College of Charleston Athletic Club ($3.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 51% and program service revenue 31% of the total. Other salaries and wages came to $846k. At year end it held assets of $7.4m against liabilities of $3.3m, net assets of $4.0m. It reported 36 employees.