International Tennis Hall Of Fame Incorporated
- Assets
- $94.1m
- Revenue
- $32.7m
- Investments
- $12.7m
- Employees
- 140
- Location
- Newport, RI
- Founding
- 01/2008
- Data as of
- 12/2023
- EIN
- 13-6144356
Organization Overview
International Tennis Hall Of Fame Incorporated is located in Newport, RI. The organization was established in 2008. 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 12/2023, International Tennis Hall Of Fame Incorporated employed 140 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Tennis Hall Of Fame 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, International Tennis Hall Of Fame Incorporated generated $32.7m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $15.6m during the year ending 12/2023. While expenses have increased by 6.7% per year over the past 9 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE INTERNATIONAL TENNIS HALL OF FAME PRESERVES AND PROMOTES THE HISTORY OF TENNIS AND CELEBRATES ITS CHAMPIONS, THEREBY SERVING AS A VITAL PARTNER IN THE GROWTH OF TENNIS GLOBALLY.
Describe the Organization's Program Activity:
TENNIS TOURNAMENT - THE INFOSYS HALL OF FAME OPEN FOR THE VAN ALEN CUP IS AN ATP TOUR EVENT HOSTED ANNUALLY ON THE HISTORIC GRASS COURTS OF THE INTERNATIONAL TENNIS HALL OF FAME. THE TOURNAMENT DRAWS 28 OF THE TOP MALE PLAYERS IN THE WORLD COMPETING FOR THE VAN ALEN CUP AND 32 MALE PLAYERS COMPETE FOR THE DOUBLES TITLE. THE TOURNAMENT IS THE ONLY ATP TOUR STOP IN THE NORTHEAST AND THE ONLY EVENT TO BE PLAYED ON GRASS COURTS OUTSIDE OF EUROPE.
TEAMFAME - OUR NATIONAL JUNIOR TENNIS & LEARNING (NJTL) CHAPTER, KNOWN AS TEAMFAME, WHICH STANDS FOR FUTURE ACES MODELING EXCELLENCE. TEAMFAME PROVIDES TENNIS LESSONS, ACADEMIC SUPPORT, AND CHARACTER DEVELOPMENT PROGRAMMING FOR MIDDLE SCHOOL STUDENTS IN THE HELP THE UNDERSERVED COMMUNITY REACH THEIR GOALS, LEARN NEW SKILLS, AND CHANGE LIVES ON AND OFF THE COURT.
TENNIS COURTS - THE INTERNATIONAL TENNIS HALL OF FAME IS TRULY UNIQUE IN THAT IT IS ONE OF THE ONLY HALLS OF FAME WHERE THE PUBLIC CAN ACTUALLY PLAY THE SPORT - TENNIS - ON HALL OF FAME GROUNDS. PLAYERS OF EVERY AGE AND ANY ABILITY LEVEL HAVE THE OPPORTUNITY TO PLAY TENNIS ON THE HALL OF FAME'S LEGENDARY GRASS COURTS, WHERE THE FIRST US NATIONAL TENNIS CHAMPIONSHIPS WERE HELD IN 1881. TENNIS CHAMPIONS PAST AND PRESENT HAVE GRACED THE HALL OF FAME'S GRASS COURTS INCLUDING BILLIE JEAN KING, ROD LAVER, MARTINA NAVRATILOVA, JOHN MCENROE - JUST TO NAME A FEW. THE HALL OF FAME TENNIS CLUB OFFERS ADULT AND JUNIOR TENNIS PROGRAMMING YEAR-ROUND, WITH 6 HARD COURTS, 13 GRASS COURTS, AND 1 CLAY COURT AVAILABLE.
INDUCTION - THE INTERNATIONAL TENNIS HALL OF FAME WAS ESTABLISHED IN 1954 AT THE NEWPORT CASINO AS A "SHRINE TO THE IDEALS OF THE GAME". ORIGINALLY NAMED THE NATIONAL LAWN TENNIS HALL OF FAME, IT WAS SANCTIONED BY THE UNITED STATES TENNIS ASSOCIATION IN 1954. THE FIRST CLASS WAS INDUCTED INTO THE HALL OF FAME IN 1955. IN 1986, WE ACHIEVED WORLDWIDE RECOGNITION AS THE SPORT'S OFFICIAL HALL OF FAME BY THE INTERNATIONAL TENNIS FEDERATION. INDIVIDUALS ARE ELECTED BASED ON THEIR RECORDS OF COMPETITIVE ACHIEVEMENT, WITH ANCILLARY CONSIDERATION GIVEN TO SPORTSMANSHIP AND CHARACTER. INDIVIDUALS ARE ELECTED IN ONE OF THREE CATEGORIES: PLAYER, CONTRIBUTOR, AND WHEELCHAIR. A SERIES OF VOTING PANELS REPRESENTING THE INTERNATIONAL TENNIS COMMUNITY VOTE TO ELECT THESE INDIVIDUALS FOR INDUCTION. THE INDUCTION CEREMONY OCCURS AT THE INTERNATIONAL TENNIS HALL OF FAME EACH JULY. THE MUSEUM, HOUSED IN THE NEWPORT CASINO, WAS BUILT BY JAMES GORDON BENNETT IN 1880. THE NEWPORT CASINO WAS DECLARED A NATIONAL HISTORIC LANDMARK IN 1987, AND BECAME THE FIRST SPORTS HALL OF FAME TO BE ACCREDITED BY THE AMERICAN ALLIANCE OF MUSEUMS IN 2013 AND REACCREDITED IN 2022. THE HISTORIC NEWPORT CASINO IS AN UNCOMMON EXAMPLE OF SPORTING EXCELLENCE. THE EXHIBITS HIGHLIGHT THE GROWTH AND DEVELOPMENT OF TENNIS THROUGH THE 21ST CENTURY, WITH A PARTICULAR EMPHASIS ON ITS CULTURAL IMPACT. THE STORIES OF OUR HALL OF FAMERS, FROM OUR FIRST CLASS IN 1955 TO TODAY, ARE TOLD THROUGHOUT THE GALLERIES PROVIDING PERSONAL INSIGHT INTO THE HISTORICAL DEVELOPMENTS OF THE GAME. THE EXHIBITS ARE DRAMATICALLY SET IN THE ORIGINAL ROOMS OF THE NEWPORT CASINO, WHERE VISITORS OF ALL AGES CAN DELIGHT IN STANFORD WHITE'S ARCHITECTURAL DETAIL. THE WOOLARD FAMILY INDUCTION GALLERY HONORS THE GREATEST CHAMPIONS, INNOVATORS, AND ADMINISTRATORS OF TENNIS WHO HAVE BEEN INDUCTED INTO THE HALL OF FAME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Swan Chairman | OfficerTrustee | 30 | $0 |
Patrick Mcenroe President (as Of 5/23) | OfficerTrustee | 20 | $174,231 |
Russell P Fradin Vice Chairman | OfficerTrustee | 0.5 | $0 |
Gigi Fernandez Vice Chairman | OfficerTrustee | 0.5 | $0 |
Kurt L Wright Treasurer | OfficerTrustee | 0.5 | $0 |
Andrea W Rice Secretary | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Russell Morin Catering & Events Catering For Events | 12/30/23 | $381,428 |
Sift Inc Video Production | 12/30/23 | $165,072 |
Atr Treehouse Equipment Rental For Events | 12/30/23 | $146,260 |
Merit 20 Computer/ It Consultant | 12/30/23 | $134,187 |
Sports Media Technology Corp Digital Displays / Live Scoring | 12/30/23 | $133,540 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $662,298 |
| Related organizations | $0 |
| Government grants | $1,350 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,528,602 |
| Noncash contributions included in lines 1a–1f | $249,811 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,192,250 |
| Total Program Service Revenue | $8,634,615 |
| Investment income | $1,558,532 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $826,678 |
| Net Gain/Loss on Asset Sales | $17,401,015 |
| Net Income from Fundraising Events | -$175,177 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $241,524 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,687,895 |
| 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 | $50,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $607,386 |
| Compensation of current officers, directors, key employees. | $369,030 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,919,295 |
| Pension plan accruals and contributions | $48,225 |
| Other employee benefits | $458,640 |
| Payroll taxes | $367,031 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $399,993 |
| Fees for services: Accounting | $74,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $155,504 |
| Fees for services: Other | $916,448 |
| Advertising and promotion | $635,668 |
| Office expenses | $878,848 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $502,771 |
| Travel | $486,166 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $129,303 |
| Interest | $20,404 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,456,552 |
| Insurance | $341,299 |
| All other expenses | $255,718 |
| Total functional expenses | $15,583,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,200 |
| Savings and temporary cash investments | $6,192,312 |
| Pledges and grants receivable | $1,607,823 |
| Accounts receivable, net | $17,767,602 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $280,034 |
| Prepaid expenses and deferred charges | $124,827 |
| Net Land, buildings, and equipment | $18,748,414 |
| Investments—publicly traded securities | $36,614,903 |
| Investments—other securities | $12,745,966 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,624 |
| Total assets | $94,087,705 |
| Accounts payable and accrued expenses | $1,313,588 |
| Grants payable | $0 |
| Deferred revenue | $390,297 |
| 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 | $552,752 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $311,249 |
| Total liabilities | $2,567,886 |
| Net assets without donor restrictions | $50,747,121 |
| Net assets with donor restrictions | $40,772,698 |
| 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 | $94,087,705 |