Wta Tour Inc
- Assets
- $114.3m
- Revenue
- $114.0m
- Investments
- $0.0
- Employees
- 96
- Location
- St Petersburg, FL
- Founding
- 00/0000
- Data as of
- 12/2022
- EIN
- 13-3792400
Organization Overview
Wta Tour Inc is located in St Petersburg, FL. The organization was established in 0000. 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, Wta Tour Inc employed 96 individuals. Wta Tour Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Wta Tour Inc generated $114.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $110.3m during the year ending 12/2022. While expenses have increased by 6.3% 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 THE GROWTH AND RECOGNITION OF WOMEN'S TENNIS WORLDWIDE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORSHIPS - THE WTA HAS VARIOUS SPONSORSHIP AGREEMENTS THATPROVIDE FOR ANNUAL FEES. THE WTA HAS CERTAIN OBLIGATIONS UNDERTHESE AGREEMENTS AND HAVE BEEN GRANTED CERTAIN RIGHTS BY THETOURNAMENT CLASS MEMBERS AND PLAYER CLASS MEMBERS AS REQUIRED BYTHESE SPONSORS UNDER THESE AGREEMENTS.
TOUR OPERATIONS FEES- REPRESENTS FEES TO THE WTA TOUR TOORGANIZE, ADMINISTER AND GOVERN THE ANNUAL TOUR AS WELL AS FUNDCERTAIN PROGRAM SERVICES EXPENSES.
TELEVISION BROADCASTING AND DATA - THE WTA HAS MEDIA RIGHTS AGREEMENTS FOR THE BROADCAST OF CERTAIN TOURNAMENT MATCHES AND LICENSE OF MATCH DATA. THE WTA HAS BEEN GRANTED CERTAIN RIGHTS AS REQUIRED BY THE MEDIA RIGHTS AGREEMENTS FROM TOURNAMENT CLASS MEMBERS AND LICENSED EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Simon Chairman And CEO | OfficerTrustee | 40 | $1,357,973 |
Adam Barrett Tournament Class Director | Trustee | 10 | $110,000 |
Gavin Ziv Tournament Class Director | Trustee | 5 | $50,000 |
Peter Michael Reichel Tournament Class Director | Trustee | 5 | $50,000 |
Cameron Pearson As Of 92022 Tournament Class Director | Trustee | 5 | $25,000 |
Alastair Garland Thru 82022 Tournament Class Director | Trustee | 5 | $25,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
International Tennis Integrity Agency Lt Services Rendered | 12/30/22 | $2,039,375 |
Proskauer Rose Llp Legal Services | 12/30/22 | $3,158,464 |
Atp Media Operations Ltd Media Services | 12/30/22 | $977,600 |
Atp Tour Inc Shared Services | 12/30/22 | $967,595 |
Csm Properties Inc Services Rendered | 12/30/22 | $895,553 |
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 | $105,200,197 |
| Investment income | $3,465,405 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$73,937 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $114,033,569 |
| 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 | $3,573,844 |
| Compensation of current officers, directors, key employees. | $5,209,123 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,324,323 |
| Pension plan accruals and contributions | $111,397 |
| Other employee benefits | $1,082,591 |
| Payroll taxes | $993,204 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,660,947 |
| Fees for services: Accounting | $557,738 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,824,479 |
| Advertising and promotion | $1,161,110 |
| Office expenses | $757,262 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $615,042 |
| Travel | $2,270,618 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $450,021 |
| Interest | $47,743 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,113,291 |
| Insurance | $766,357 |
| All other expenses | $3,129,612 |
| Total functional expenses | $110,266,094 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $13,460,165 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,653,829 |
| 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 | $2,127,545 |
| Net Land, buildings, and equipment | $3,734,642 |
| Investments—publicly traded securities | $77,389,023 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,886,684 |
| Total assets | $114,251,888 |
| Accounts payable and accrued expenses | $16,134,024 |
| Grants payable | $0 |
| Deferred revenue | $92,225,694 |
| 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 | $31,897,050 |
| Total liabilities | $140,256,768 |
| Net assets without donor restrictions | -$26,004,880 |
| 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 | $114,251,888 |