Usta Foundation Incorporated
- Assets
- $26.3m
- Revenue
- $12.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Purchase, NY
- Founding
- 12/1994
- Data as of
- 12/2023
- EIN
- 13-3782331
Organization Overview
Usta Foundation Incorporated is located in Purchase, NY. The organization was established in 1994. According to its NTEE Classification (N12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Usta Foundation Incorporated 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 12/2023, Usta Foundation Incorporated generated $12.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $14.1m during the year ending 12/2023. While expenses have increased by 11.0% per year over the past 6 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.
Since 2018, Usta Foundation Incorporated has awarded 728 individual grants totaling $31,575,817. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BRING TENNIS & EDUCATION TOGETHER TO CHANGE LIVES, WITH PARTICULAR EMPHASIS ON UNDER-RESOURCED YOUTH. USING THIS POWERFUL COMBINATION, WE HELP SERVE UP DREAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE USTA FOUNDATION PROVIDES PROGRAM AND OPERATIONAL SUPPORT GRANTS TO SUPPORT THE IMPLEMENTATION OF QUALIFIED EDUCATIONAL CURRICULA AND IMPROVED TENNIS DELIVERY. PREFERENCE IS GIVEN TO NJTL CHAPTERS, SERVING UNDER-RESOURCED DEMOGRAPHICS. IN 2023, A TOTAL OF $9,023,665 WAS GRANTED TO 201 ORGANIZATIONS. HIGHLIGHTS OF THE PROGRAMS THAT WERE FUNDED INCLUDE THE FOLLOWING: NJTL CAPACITY BUILDING: THE USTA FOUNDATION CAPACITY BUILDING PROGRAM IS BASED ON THE NEEDS OF THE NJTL CHAPTERS AS REPORTED IN THEIR ANNUAL ENROLLMENT SURVEY. THE PROGRAM IS DESIGNED TO ADDRESS CHAPTER NEEDS TO SUPPORT ORGANIZATIONAL GROWTH IN SUSTAINABILITY, GOVERNANCE, MANAGEMENT INFRASTRUCTURE, LEADERSHIP DEVELOPMENT AND PROGRAMMATIC IMPACT ON UNDER RESOURCED YOUTH. NATIONAL ESSAY CONTEST, LITERACY, HEALTH & STEM: THE USTA FOUNDATION PROVIDES EVIDENCE-BASED CURRICULA TO NJTL CHAPTERS GEARED TOWARDS ELEMENTARY, MIDDLE AND HIGH SCHOOL STUDENTS. THE ENRICHMENT LESSONS COMPLEMENT NATIONAL EDUCATIONAL STANDARDS AND USE RECREATION (TENNIS) AS A FOUNDATION FOR LEARNING VALUABLE LITERACY, HEALTH, SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS (STEM) COMPETENCIES. THE NATIONAL ESSAY CONTEST IS AN OPPORTUNITY FOR NJTL PARTICIPANTS TO PUT THEIR LITERACY SKILLS INTO PRACTICAL USE. UNDER-RESOURCED CONTESTANTS ARE SELECTED BASED ON THE MERIT OF THEIR ESSAYS AND WIN AN ALL-EXPENSE PAID TRIP TO THE US OPEN IN NEW YORK CITY. EXCELLENCE PROGRAM: THE USTA FOUNDATION WORKS IN PARTNERSHIP WITH NATIONAL JUNIOR TENNIS & LEARNING (NJTL) CHAPTERS AND OTHER ENTITIES TO IDENTIFY, TRAIN, AND EDUCATE THE NEXT GENERATION OF AMERICAN TENNIS CHAMPIONS, NATIONAL LEVEL COMPETITORS, COLLEGIATE PLAYERS AND FUTURE LEADERS. EXCELLENCE TEAMS ARE DESIGNED TO BREAK FINANCIAL BARRIERS BY PROVIDING QUALITY COACHING, EQUIPMENT AND TOURNAMENT TRAVEL AT NO COST TO UNDER-SERVED JUNIOR PLAYERS FROM UNDER-RESOURCED POPULATIONS.
THE USTA FOUNDATION AWARDS COLLEGE EDUCATIONAL SCHOLARSHIPS ANNUALLY TO HIGH SCHOOL SENIORS WHO HAVE EXCELLED ACADEMICALLY, DEMONSTRATED COMMUNITY SERVICE AND PARTICIPATED IN AN ORGANIZED TENNIS PROGRAM. PREFERENCE IS GIVEN TO NJTL PARTICIPANTS AND AWARDS ARE BETWEEN $2,500 TO $40,000, SPREAD OVER FOUR YEARS. IN 2023, A TOTAL OF $980,000 IN SCHOLARSHIPS WERE PROVIDED TO 53 PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Faber Thru 523 Executive Director | Officer | 40 | $0 |
Ginny Ehrlich From 1023 Executive Director | Officer | 40 | $0 |
Brian Vahaly Director | Trustee | 3 | $0 |
Jeff Baill Director | Trustee | 3 | $0 |
Violet Clark Director | Trustee | 3 | $0 |
Kathleen Wu President/director | OfficerTrustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Winward Academy Llc Njtl Kids Prgm & Lic | 12/30/22 | $267,635 |
The Global Event Team Llc Event Plann. & Exps. | 12/30/22 | $160,544 |
Net Results Marketing Event Plann. & Exps. | 12/30/22 | $153,754 |
Eigen X Llc Sales Force Consult. | 12/30/22 | $143,045 |
Oasis Sports Ventures Program & Tech. Svcs | 12/30/22 | $125,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,513,209 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,512,071 |
| Noncash contributions included in lines 1a–1f | $14,671 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,025,280 |
| Total Program Service Revenue | $0 |
| Investment income | $858,608 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $48,352 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,932,240 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,023,665 |
| Grants and other assistance to domestic individuals. | $980,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,217 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,083,774 |
| Advertising and promotion | $181,841 |
| Office expenses | $31,475 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $927,077 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,780 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $170,487 |
| Total functional expenses | $14,110,830 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $109,258 |
| Savings and temporary cash investments | $15,901,189 |
| Pledges and grants receivable | $3,295,266 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $53,547 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,945,146 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $26,304,406 |
| Accounts payable and accrued expenses | $2,584,940 |
| Grants payable | $1,008,364 |
| Deferred revenue | $144,077 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,737,381 |
| Net assets without donor restrictions | $16,537,778 |
| Net assets with donor restrictions | $6,029,247 |
| 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 | $26,304,406 |
Grants Awarded
Over the last fiscal year, Usta Foundation Incorporated has awarded $8,927,415 in support to 151 organizations.
| Grant Recipient | Amount |
|---|---|
A BRIGHT FUTURE INC | | | $22,500 |
40 LOVE FOUNDATION INC | | | $69,500 |
ABOVE THE NET INC | | | $45,000 |
ACE TO DEUCE COMMUNITY TENNIS ASSOCIATION | | | $5,500 |
ADVANTAGE CLEVELAND TENNIS AND EDUCATION | | | $86,500 |
ADVANTAGE LANCASTER | | | $25,000 |