Nonprofit · EIN 22-2560625
SAIL NEWPORT INC
Tax-exempt · NEWPORT, RI 02840
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| October 31, 2025 | 990 | $3,394,109 | $3,017,696 | $376,413 | $9,354,207 | $527,881 | $8,826,326 |
| October 31, 2024 | 990 | $2,759,983 | $3,001,810 | -$241,827 | $8,787,996 | $379,777 | $8,408,219 |
| October 31, 2023 | 990 | $5,515,517 | $5,050,828 | $464,689 | $8,518,622 | $343,326 | $8,175,296 |
Financial details: 990 for the year ended October 31, 2025
Revenue
- Contributions, gifts and grants
- $1,393,795
- of which government grants
- $129,766
- Membership dues
- $127,019
- Program service revenue
- $788,419
- Investment income
- $281,454
- Net rental income
- $683,127
- Net gain from sales of assets
- $226,894
- Net income from fundraising events
- $226,833
- Net income from sales of inventory
- $3,770
- Other revenue
- $930,441
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $135,165
- Other salaries and wages
- $1,335,071
- Salaries, compensation and benefits (total)
- $1,690,041
- Professional fundraising fees
- $0
- Accounting fees
- $52,095
- Occupancy
- $255,943
- Travel
- $18,059
- Depreciation
- $336,480
- Program services (functional)
- $2,323,756
- Management and general (functional)
- $459,588
- Fundraising (functional)
- $234,352
Balance sheet and other
- Total assets, start of year
- $8,787,996
- Total assets, end of year
- $9,354,207
- Total liabilities, end of year
- $527,881
- Net assets, end of year
- $8,826,326
- Land, buildings and equipment
- $5,141,631
- Publicly traded securities
- $2,892,494
- Net assets without donor restrictions
- $5,240,996
- Net assets with donor restrictions
- $3,585,330
- Gross unrelated business income
- $6,770
- Gross receipts
- $3,643,998
- Employees
- 63
- Year formed
- 1983
- 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 October 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BRAD READ | EXECUTIVE DI Officer | 40 | $135,165 |
| CHRIS LONG | PRESIDENT Trustee or director, Officer | 3 | $0 |
| TIM GRIMES | VICE PRESIDE Trustee or director, Officer | 3 | $0 |
| TIM LOGAN | TREASURER Trustee or director, Officer | 3 | $0 |
| LEE PARKS | SECRETARY Trustee or director, Officer | 3 | $0 |
| SUSAN DALY | PAST PRESIDE Trustee or director, Officer | 3 | $0 |
| MICK HARVEY | DIRECTOR Trustee or director | 1 | $0 |
| KATRINA HELE | DIRECTOR Trustee or director | 1 | $0 |
| BARBY MACGOWAN | DIRECTOR Trustee or director | 1 | $0 |
| ANDREW MACKEN | DIRECTOR Trustee or director | 1 | $0 |
| ROB MACMILLAN | DIRECTOR Trustee or director | 1 | $0 |
| JOHN MCCABE | DIRECTOR Trustee or director | 1 | $0 |
| PETER MCCLENNEN | DIRECTOR Trustee or director | 1 | $0 |
| BUSTER PIKE | DIRECTOR Trustee or director | 1 | $0 |
| LAT SPINNEY | DIRECTOR Trustee or director | 1 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| COURTNEY VAN BEUREN | DIRECTOR Trustee or director | 1 | $0 |
| JASON WALSH | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended October 31, 2024: 17 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BRAD READ | EXECUTIVE DI Officer | 40 | $165,248 |
| SUSAN DALY | PRESIDENT Trustee or director, Officer | 3 | $0 |
| DON STEINER | VICE PRESIDE Trustee or director, Officer | 3 | $0 |
| TIM GRIMES | TREASURER Trustee or director, Officer | 3 | $0 |
| LEE PARKS | SECRETARY Trustee or director, Officer | 3 | $0 |
| WILL DONALDSON | PAST PRESIDE Trustee or director, Officer | 3 | $0 |
| MICK HARVEY | DIRECTOR Trustee or director | 1 | $0 |
| KATRINA HELE | DIRECTOR Trustee or director | 1 | $0 |
| CHRIS LONG | DIRECTOR Trustee or director | 1 | $0 |
| ANDREW MACKEN | DIRECTOR Trustee or director | 1 | $0 |
| BARBY MACGOWAN | DIRECTOR Trustee or director | 1 | $0 |
| ROB MACMILLAN | DIRECTOR Trustee or director | 1 | $0 |
| JOHN MCCABE | DIRECTOR Trustee or director | 1 | $0 |
| BUSTER PIKE | DIRECTOR Trustee or director | 1 | $0 |
| LAT SPINNEY | DIRECTOR Trustee or director | 1 | $0 |
| JASON WALSH | DIRECTOR Trustee or director | 1 | $0 |
| COURTNEY VAN BEUREN | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended October 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRAD READ | EXECUTIVE DI Officer | 40 | $148,975 | $4,671 |
| SUSAN DALY | PRESIDENT Trustee or director, Officer | 3 | $0 | $0 |
| DON STEINER | VICE PRESIDE Trustee or director, Officer | 3 | $0 | $0 |
| TIM GRIMES | TREASURER Trustee or director, Officer | 3 | $0 | $0 |
| LEE PARKS | SECRETARY Trustee or director, Officer | 3 | $0 | $0 |
| WILL DONALDSON | PAST PRESIDE Trustee or director, Officer | 3 | $0 | $0 |
| MICK HARVEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KATRINA HELE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRIS LONG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANDREW MACKEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BARBY MACGOWAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROB MACMILLAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN MCCABE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BUSTER PIKE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LAT SPINNEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JASON WALSH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| COURTNEY VAN BEUREN | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 72 FORT ADAMS DR, NEWPORT, RI 02840-4388
- Principal officer (990 for 2024)
- BRAD READ, 72 FORT ADAMS DRIVE, NEWPORT, RI 02840
- Signed the 990
- BRAD READ, EXECUTIVE DIRECTOR
- Phone
- (401) 846-1983
- Website
- WWW.SAILNEWPORT.ORG
- Return prepared by
- WADOVICK & COMPANY
Mission
SAIL NEWPORT'S MISSION IS TO PROMOTE AND OPERATE AFFORDABLE PUBLIC SAILING INSTRUCTION, RENTAL PROGRAMS AND TO CREATE OPPORTUNITIES TO ATTRACT NEW SAILORS TO THE SPORT.
Program accomplishments
- OPERATION OF A PUBLIC SAILING FACILITY IN NEWPORT, RHODE ISLAND.Expenses $764,190 · revenue $523,600
- PROMOTION AND COORDINATING OF NATIONAL AND INTERNATIONAL YACHTING EVENTS.Expenses $425,339 · revenue $146,500
- PROMOTION AND FUNDING OF YOUTH SAILING INSTRUCTION IN NEWPORT, RHODE ISLAND.Expenses $1,095,723 · revenue $812,913
- OTHER INSTRUCTIONAL AND EDUCATIONAL PROGRAMS.Expenses $38,504
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 October, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2024 | October 31, 2025 | March 16, 2026 | 990 on file |
| 2023 | October 31, 2024 | March 17, 2025 | 990 on file |
| 2022 | October 31, 2023 | March 15, 2024 | 990 on file |
IRS record
- EIN
- 22-2560625
- 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
- 1987
- Accounting year ends
- October
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N67Z)
- Assets (IRS master file)
- $9,354,207
- Income (IRS master file)
- $3,643,998
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | October 2025 | $3,394,109 | $3,017,696 | $9,354,207 | XML |
| 990-T | October 2025 | – | – | – | IRS |
| 990 | October 2024 | $2,759,983 | $3,001,810 | $8,787,996 | XML |
| 990-T | October 2024 | – | – | – | IRS |
| 990 | October 2023 | $5,515,517 | $5,050,828 | $8,518,622 | XML |
| 990-T | October 2023 | – | – | – | IRS |
| 990 | October 2022 | $3,014,185 | $2,595,974 | $8,009,967 | IRS |
| 990-T | October 2022 | – | – | – | IRS |
| 990 | October 2021 | – | – | – | IRS |
| 990-T | October 2021 | – | – | – | IRS |
| 990 | October 2020 | – | – | – | IRS |
| 990 | October 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 22-2560625).
Questions about SAIL NEWPORT INC
- What is the EIN of SAIL NEWPORT INC?
- The employer identification number (EIN) of SAIL NEWPORT INC is 22-2560625.
- Is SAIL NEWPORT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1987.
- Are donations to SAIL NEWPORT INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SAIL NEWPORT 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 SAIL NEWPORT INC due?
- The return for tax year 2025 (the year ending October 31, 2026) is due March 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SAIL NEWPORT INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended October 2025.
- Who is the principal officer of SAIL NEWPORT INC?
- The 990 for the year ended October 31, 2025 names BRAD READ.
- Who are the officers and directors of SAIL NEWPORT INC?
- The 990 for the year ended October 31, 2025 lists 17 people; 1 received compensation from the organization, the highest $135,165 (BRAD READ, EXECUTIVE DI).
- How much revenue does SAIL NEWPORT INC have?
- On its 990 for the year ended October 31, 2025 it reported revenue of $3,394,109, expenses of $3,017,696 and total assets of $9,354,207 at year end.
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All nonprofits in NEWPORT · Rhode Island · Recreation and sports