Usta National Tennis Center Inc
- Assets
- $645.4m
- Revenue
- $124.4m
- Investments
- $0.0
- Employees
- 1,406
- Location
- Purchase, NY
- Founding
- 09/1979
- Data as of
- 12/2022
- EIN
- 13-2946690
Organization Overview
Usta National Tennis Center Inc is located in Purchase, NY. The organization was established in 1979. According to its NTEE Classification (N66) the organization is classified as: Racquet Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Usta National Tennis Center Inc employed 1,406 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Usta National Tennis Center Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Usta National Tennis Center Inc generated $124.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $128.7m during the year ending 12/2022. While expenses have increased by 6.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND DEVELOP THE GAME OF TENNIS AS A MEANS TO HEALTHFUL RECREATION AND PHYSICAL FITNESS AND TO OPERATE A YEAR-ROUND PUBLIC RECREATIONAL FACILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE USTA BILLIE JEAN KING NATIONAL TENNIS CENTER ANNUALLY HOSTS THE US OPEN TENNIS CHAMPIONSHIPS, OPEN TO MALE AND FEMALE PROFESSIONAL AND AMATEUR TENNIS PLAYERS. NTC'S EXEMPT PURPOSES INCLUDES THE OPERATION OF TENNIS FACILITIES, PART OF WHICH INCLUDES THE US OPEN. IN 2022, THE US OPEN SET NEW ATTENDANCE RECORDS FOR THE FULL, THREE-WEEK EVENT, INCLUDING FAN WEEK, WITH 888,044 ATTENDEES, AND THE TWO-WEEK MAIN DRAW, WITH 776,120 ATTENDEES.
THE COMMUNITY TENNIS DEVELOPMENT PROGRAM AT THE USTA BILLIE JEAN KING NATIONAL TENNIS CENTER PROMOTES AND DEVELOPS THE GAME OF TENNIS FOR YOUNGSTERS AND THE GENERAL PUBLIC THROUGH TENNIS CLINICS AND DEVELOPMENT; TOURNAMENTS; SUMMER CAMPS AND TEACHING PROGRAMS.
IN ACCORDANCE WITH THE NEW YORK CITY LEASE AND IN FURTHERANCE OF ITS CHARITABLE PURPOSE OF LESSENING THE BURDENS OF THE GOVERNMENT OF THE CITY OF NEW YORK, THE NTC IS AVAILABLE FOR RECREATIONAL EVENTS, ETHNIC AND COMMUNITY FESTIVALS, SCHOLASTIC ATHLETIC EVENTS AND OTHER PUBLIC SPECTATOR EVENTS. THE FACILITY IS A LARGELY YEAR-ROUND PUBLIC FACILITY FOR THE PEOPLE OF NYC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lewis Sherr See Sch O CEO & Exec. Dir. (eff. 5/22) | Officer | 10 | $0 |
Daniel Zausner Vp, Chief Operating Officer | Officer | 40 | $982,777 |
Michael Dowse CEO & Exec. Dir. (thru 3/22) | Officer | 10 | $0 |
Charles Jettmar Md, Capital Proj. & Engineer. | 40 | $295,322 | |
Christopher Studley Sr. Director, Event Services | 40 | $233,654 | |
Adam Sinclair Sr. Dir., Facility Operations | 40 | $239,425 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fugazy Sports Entertainment Transportation | 12/30/22 | $3,545,605 |
Adco Electrical Corporation Electrical & Telecom | 12/30/22 | $2,972,028 |
Andy Frain Services Inc Security | 12/30/22 | $2,230,242 |
Anchor Contractors General Construction | 12/30/22 | $1,969,038 |
Triad Maintenance Group Llc General Construction | 12/30/22 | $1,312,522 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $124,150,463 |
| Investment income | $156,448 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $130,931 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $124,437,842 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,025,305 |
| Compensation of current officers, directors, key employees. | $205,065 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,896,920 |
| Pension plan accruals and contributions | $247,075 |
| Other employee benefits | $590,203 |
| Payroll taxes | $983,060 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $147,238 |
| Fees for services: Accounting | $40,000 |
| Fees for services: Lobbying | $100,094 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,078 |
| Fees for services: Other | $1,494,597 |
| Advertising and promotion | $164,019 |
| Office expenses | $2,180,004 |
| Information technology | $910,849 |
| Royalties | $0 |
| Occupancy | $20,205,494 |
| Travel | $2,600,740 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,803 |
| Interest | $23,792,015 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,885,767 |
| Insurance | $907,147 |
| All other expenses | $9,619,817 |
| Total functional expenses | $128,747,640 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $376,949 |
| Savings and temporary cash investments | $31,031,052 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,552,005 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $171,019 |
| Prepaid expenses and deferred charges | $1,018,310 |
| Net Land, buildings, and equipment | $601,681,432 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,609,495 |
| Total assets | $645,440,262 |
| Accounts payable and accrued expenses | $128,914,643 |
| Grants payable | $0 |
| Deferred revenue | $5,462,820 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $616,132,331 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,174,116 |
| Total liabilities | $771,683,910 |
| Net assets without donor restrictions | -$126,243,648 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $645,440,262 |