Nonprofit · EIN 23-7363158
LAKE MONROE SAILING ASSOCIATION INCORPORATED
Tax-exempt · BLOOMINGTON, IN 47401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $335,127 | $354,649 | -$19,522 | $380,259 | $62,275 | $317,984 |
| December 31, 2023 | 990 | $323,856 | $344,723 | -$20,867 | $400,460 | $62,954 | $337,506 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $6,926
- Membership dues
- $6,926
- Program service revenue
- $315,359
- Investment income
- $12,842
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $134,031
- Salaries, compensation and benefits (total)
- $145,146
- Professional fundraising fees
- $0
- Occupancy
- $25,346
- Depreciation
- $33,750
Balance sheet and other
- Total assets, start of year
- $400,460
- Total assets, end of year
- $380,259
- Total liabilities, end of year
- $62,275
- Net assets, end of year
- $317,984
- Land, buildings and equipment
- $140,251
- Net assets without donor restrictions
- $317,984
- Gross unrelated business income
- $12,842
- Gross receipts
- $335,127
- Employees
- 24
- Volunteers
- 15
- Year formed
- 1970
- State of legal domicile
- IN
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.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jeff Watson | Treasurer Trustee or director, Officer | 0 | $0 |
| Richard Morpurgo | Commodore Trustee or director, Officer | 0 | $0 |
| Vicki Conway | Director Trustee or director | 0 | $0 |
| Dan Cooper | Director Trustee or director | 0 | $0 |
| Aaron Prange | Director Trustee or director | 0 | $0 |
| Alex Crowley | Secretary Trustee or director, Officer | 0 | $0 |
| Karen Gummer | Director Trustee or director | 0 | $0 |
| James Parsch | Vice Commodore Officer | 0 | $0 |
| Bill Polansky | Director Trustee or director | 0 | $0 |
| Andi Bueckle | Director Trustee or director | 0 | $0 |
| Dana Duffy | Director Trustee or director | 0 | $0 |
990 for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jeff Watson | Treasurer Trustee or director, Officer | 0 | $0 |
| Richard Morpurgo | Commodore Trustee or director, Officer | 0 | $0 |
| Vicki Conway | Director Trustee or director | 0 | $0 |
| Dan Cooper | Director Trustee or director | 0 | $0 |
| Aaron Prange | Director Trustee or director | 0 | $0 |
| Alex Crowley | Secretary Trustee or director, Officer | 0 | $0 |
| Karen Gummer | Director Trustee or director | 0 | $0 |
| James Parsch | Vice Commodore Officer | 0 | $0 |
| Polansky | Director Trustee or director | 0 | $0 |
| Andi Bueckle | Director Trustee or director | 0 | $0 |
| Dana Duffy | Director Trustee or director | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 7600 S SHIELDS RIDGE RD, BLOOMINGTON, IN 47401-8914
- In care of
- % RICH MORPURGO
- Principal officer (990 for 2024)
- Bill Polansky, PO Box 5966, Bloomington, IN 47407
- Signed the 990
- Bill Polansky, Commodore
- Phone
- (317) 824-4611
Mission
Provide safe harbor for sailboats used on Monroe Lake Indiana; sailing instruction and recreation as provided by our lease with the Indiana Department of Natural Resources; and provide youth and adult sailing lessons and instructions.
Program accomplishments
- Provide safe harbor to approximately 200 sailors members on Lake Monroe Indiana and provide sailing instruction.Expenses $272,459 · revenue $255,334
- Provide sailing instruction to approximately 300 youth and adult members.Expenses $82,190 · revenue $79,794
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 23-7363158
- Tax-exempt status
- 501(c)(7): Social or recreational club
- Donations deductible
- No
- Exempt since
- 1976
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $380,259
- Income (IRS master file)
- $335,127
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $335,127 | $354,649 | $380,259 | XML |
| 990 | December 2023 | $323,856 | $344,723 | $400,460 | XML |
| 990 | December 2022 | $321,168 | $292,994 | $432,445 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 23-7363158).
Questions about LAKE MONROE SAILING ASSOCIATION INCORPORATED
- What is the EIN of LAKE MONROE SAILING ASSOCIATION INCORPORATED?
- The employer identification number (EIN) of LAKE MONROE SAILING ASSOCIATION INCORPORATED is 23-7363158.
- Is LAKE MONROE SAILING ASSOCIATION INCORPORATED tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(7) since 1976.
- Are donations to LAKE MONROE SAILING ASSOCIATION INCORPORATED tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does LAKE MONROE SAILING ASSOCIATION INCORPORATED 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 LAKE MONROE SAILING ASSOCIATION INCORPORATED 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 LAKE MONROE SAILING ASSOCIATION INCORPORATED 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 LAKE MONROE SAILING ASSOCIATION INCORPORATED?
- The 990 for the year ended December 31, 2024 names Bill Polansky.
- Who are the officers and directors of LAKE MONROE SAILING ASSOCIATION INCORPORATED?
- The 990 for the year ended December 31, 2024 lists 11 people; 0 received compensation from the organization.
- How much revenue does LAKE MONROE SAILING ASSOCIATION INCORPORATED have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $335,127, expenses of $354,649 and total assets of $380,259 at year end.
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