2025-05-09T15:03:30-07:00 2024-12-31 990 2024-01-01 980136937 SALTS SAIL AND LIFE TRAINING SOCIETY SALT 2503836811 451 HERALD ST VICTORIA BC CA V8W3N8 Loren Hagerty Executive Director 2503836811 2025-05-09 1 2024 2025-03-06 01:10:19Z SALTS Loren Hagerty 451 Herald Street Victoria BC CA V8W3N8 2933838 0 X www.salts.ca X SOCIETY 1974 CA SALTS operates two tall ships and teaches 1700 young people, ages 13 to 25, to sail them each year. The program helps young people learn to live in a community, develop strong work ethic, understand teamwork, grow spiritually, learn to resolve problems and conflicts and understand other cultures. 6 6 0 60 0 0 1198139 920594 1555997 1800449 144387 136229 29050 41665 2927573 2898937 0 0 0 0 1675685 1721226 0 0 542335 1768915 1873984 3444600 3595210 -517027 -696273 5806035 5070277 944960 905475 4861075 4164802 To create a safe and inclusive environment where young people can be themselves and grow personally, spiritually, and relationally through sail training in a supportive Christian based community. 0 0 1719357 0 1800449 SALTS operates two tall ships and teaches 1700 young people, ages 13 to 25, to sail them each year. In the spring and fall, school groups participate in five day voyages to the Gulf Islands of southern BC. In the summer, ten day voyages collectively circumnavigate Vancouver Island. Young trainees are involved in every aspect of sailing the ship, including navigation, sail handling, pilotage, bow watch, cleanup etc. They receive formal sail training instruction and complete exams. They participate in group discussions about life issues. The program helps young people learn to live in community, develop a strong work ethic, understand teamwork, grow spiritually, learn to resolve problems and conflicts, and understand other cultures. 0 0 0 1719357 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 X 1 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 1 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X Svetlana Benger 2506340402 451 HERALD ST VICTORIA BC CA V8W 3N8 Loren Hagerty Executive Director 37.5 X 131955 0 0 Derek Rand Chairperson 4 X X 0 0 0 Sarah Meyer Vice-Chairperson 2 0 X 0 0 0 Sarah Krzymowski Treasurer 2 X X 0 0 0 Krista Chase Director 2 X 0 0 0 Daniel Cumming Director 2 X 0 0 0 Jason Nassichuk Director 2 X 0 0 0 Chris Yue Board Member 2 X 0 0 0 Cayla Welle Board Member 2 X 0 0 0 131955 0 0 1 0 0 0 Port Townsend Shipwrights Inc PO Box 1163 Port Townsend WA 98368 Shipwright Services 195797 195797 0 3300 0 0 0 917294 619423 920594 Sail training programs 900099 1800449 0 0 1800449 0 0 0 0 1800449 136229 0 0 136229 0 0 0 0 0 0 0 0 0 0 0 0 0 50343 34901 15442 0 0 15442 26223 0 0 26223 26223 2898937 0 0 1978343 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1458329 749401 571135 137793 0 0 0 0 138355 62453 60897 15005 124542 66005 48063 10474 0 0 0 0 3308 0 3308 0 20688 0 20688 0 0 0 0 0 0 0 0 0 0 0 87320 4947 46275 36098 97386 2734 64541 30111 99221 16683 78099 4439 53889 7481 46408 0 0 0 0 0 213618 118587 41957 53074 5189 2390 1795 1004 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 75610 56295 18985 330 114980 90867 13525 10588 Operating Cost of Ships - Pacific Grace & Pacific 781570 541514 231496 8560 Bursaries 86346 0 86346 0 234859 0 0 234859 3595210 1719357 1333518 542335 139313 143007 2800299 1979933 0 0 0 108736 0 0 0 0 0 0 542312 608238 160292 118984 637530 481940 157882 155590 0 0 0 0 0 0 0 0 2005937 1955789 5806035 5070277 98796 761100 0 0 846164 144375 0 0 0 0 0 0 0 0 0 0 0 944960 905475 X 0 0 0 0 4861075 4164802 4861075 4164802 5806035 5070277 -696273 0 0 0 0 0 X 0 1 X 1 0 X 1496906 1493264 581286 1198139 920594 5690189 669544 1611917 1038440 1846568 1536717 6703186 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2166450 3105181 1619726 3044707 2457311 12393375 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12393375 39814 20579 64639 144387 136229 405648 0 0 0 0 0 0 39814 20579 64639 144387 136229 405648 102394 3254 8157 15861 26223 155889 0 0 0 0 0 0 2308658 3129014 1692522 3204955 2619763 12954912 0.95665 0.96761 0.03131 0.02285 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 143611 105427 0 0 0 0 249038 74767 68844 0 0 0 0 143611 66656 8111 0 0 0 0 74767 59601 7055 0 0 0 0 66656 57892 1709 0 0 0 0 59601 0 1 0 0 0 0 0 0 0 0 0 0 173472 0 147099 26373 464058 0 334841 129217 0 0 0 0 155590 Vessel, Pacific Grace 1472688 Vessel. Pacific Swift 483101 1955789 2933838 0 0 0 34901 34901 2898937 0 0 0 2898937 3632556 0 0 0 37346 37346 3595210 0 0 0 3595210 Schedule D, Part V, Line 4 Endowment funds are invested with a portion of annual investment income withdrawn to cover the cost of bursaries for program participation by young people in financial need or from challenging life situations to allow them to have access to our charitable programs. Schedule D, Part XI, Line 2d Schedule D, Part Xl, line 2d - 34,901 Cost of merchandise sales netted against sales on Form 990 Schedule D, Part XII, Line 2d $34,902 Cost of merchandise sales netted against sales on Form 990 North America (including Canada and Mexico, but not the United States) 1 27 Fundraising 1719356 1 27 1719356 0 0 0 0 0 0 X 15 619424 independent appraisals X 1 1604 Market Value 0 0 1 0 Form 990, Part I, Line 5 The organization had 27 employees during the calendar year, including both full-time and part-time staff. Form 990, Part V, Line 1a S A L T S SAIL AND LIFE TRAINING SOCIETY Form 990, Part V, Line 1a - Form 990, Part V, Line 1a - Submitted Form 1098-C which contained details of boat donation by US donor. Form 990, Part VI, Section A, Line 4 Our membership passed a Special Resolution on March 6, 2025 to alter the mission statement (i.e. purposes) of the Society. The motion was: To remove the following statement from the purposes section of the constitution of S.A.L.T.S. Sail and Life Training Society: To develop the spiritual, relational, and physical potential of young people through sail training, shipboard life and associated activities in a Christian environment. To replace the removed statement with: To create a safe and inclusive environment where young people can be themselves and grow personally, spiritually, and relationally through sail training in a supportive Christian-based community. Note that we do not believe this changed the substance of our mission, only the wording of our mission statement. Form 990, Part VI, Section A, Line 6 Form 990, Part VI, Section A, Line 6 - Form 990, Part VI, Section A, Line 6 - Annual memberships for individuals and families who are entitled to vote at AGM. Form 990, Part VI, Section A, Line 7a Form 990, Part VI, Section A, Line 7a - Form 990, Part VI, Section A, Line 7a - Members elect governing board members at AGM. Form 990, Part VI, Section B, Line 11b Form 990, Part VI, Section B, Line 11b - Form 990, Part VI, Section B, Line 11b - Detailed calculations and review / comparison with audited financial statements. Comparison to prior year return. Creation by Finance Manager and review by Executive Director. Form 990, Part VI, Section B, Line 12c Form 990, Part VI, Section B, Line 12c - Form 990, Part VI, Section B, Line 12c - Board of Directors Conflict of Interest Avoidance: A Board policy is in place which states the following: Board members must opt out of any vote in which they would be in conflict of interest with another organization, role, company, etc. There must be no self interest or any conduct of private business or personal services between any Board member and the organization except as procedurally controlled to assure openness, competitive opportunity and equal access to inside information. Another policy states that Board members must: Act honestly and in good faith with a view to the best interests of SALTS. A Board policy exists that staff members must: Ensure that no employee is hired by his/her own family member, nor placed under their authority, with the exception of husband and wife teams that agree to serve together. This policy would prohibit the family member of a Board member being hired to a staff position. The Board policy manual is reviewed on a regular basis by the Board to ensure that the Board members are aware of these policies and disclose any conflicts of interest. Form 990, Part VI, Section B, Line 15 Form 990, Part VI, Section B, Line 15 - Form 990, Part VI, Section B, Line 15 - Compensation approval and equality: Board policies state that all compensation changes must be approved by the Board, and that compensation will be reviewed by them annually. Ensure that the rewards/benefits and compensation system and/or plan is typical to comparable roles in similar contexts. Propose to the Board and gain approval for an annual revenue and expense budget each Fall for the financial year to follow. As a substantial portion of the annual budget is compensation, a wage grid is submitted to the Board on an annual basis, and each staff salary is approved by the Board along with the approval of the annual budget. In keeping with the policy above, comparative data from other similar organizations and industries is provided to the Board to ensure fairness of compensation levels at our Society. The wage grid guides salary decisions for each role. Form 990, Part VI, Section C, Line 19 Form 990, Part VI, Section C, Line 19 - Form 990, Part VI, Section C, Line 19 - SALTS makes its governing documents, conflict of interest policy and financial statements available to the public upon request by sending an email to the Executive Director at info@salt.ca. SALTS financial statements are also made available to the public at the following url: http//www.cra-arc.gc.ca/chrts-gvng/lstngs/menu-eng.html. Form 990, Part IX, Line 7 As of December 31, 2024, the organization employed a total of 27 individuals, including both full-time and part-time staff. Form 990, Part IX, Line 24e Form 990, Part IX, Line 24e - Form 990, Part IX, Line 24e - Cost of Boats is made up of 'cost of boats sold' less 'donated boat sales'. It also includes professional fees related to sale of donated boats and maintenance expense to ready donated boats for sale.