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Irish Sailing Publishes Buoyant 2019 Accounts

28th February 2020
Irish Sailing Publishes Buoyant 2019 Accounts

Irish Sailing has published its Financial Statements for 2019 ahead of next month's AGM in Dun Laoghaire.

Overall a surplus of €16,630 is reported for 2019 compared with a deficit in 2018 of €120,843. This is after total 2019 income improved by €236,236 to €2,359,236 from €2,123,400 in 2019.

The Association, the national governing body for sailing, experienced a significant improvement in its 2019 financial performance and enhanced its cash resources compared to 2018.

The key factors in contributing to this turnaround appear to include:

  • €100,000 received from Sailfleet Company Ltd which use to own and manage the J80 Fleet and was sold off during 2019.
  • €159, 126 from the Irish Sailing Foundation Ltd, an organisation set up to separately fund elite sailing activities.

Core Highlights

Highlights from the Core activities;

  • Membership Income increased by 8% to €309,097 but the number of members is not disclosed.
  • The Sport Ireland Government Grant increased by 19% to €62,000.
  • Income generated from the issue of competency certificates increased by 31% to €64,316 in contrast to other income sources which largely remained flat.
  • Handicap Certificates remains static at €70,559 which is probably indicative of zero growth in cruiser racing
  • An increase in payroll costs of 7% to €532,911 and a doubling of legal and professional fees to €41,475 contributed to Core costs escalating by nearly €100k to €1,108,358.

Download the AGM notice below (with a link to the financial statements).

The Irish Sailing Association AGM will be held at the Royal Marine Hotel, Dun Laoghaire at 1630hrs on 21st March 2020


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