Colorado Open Golf Foundation
- Assets
- $4.0m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 12/2004
- Data as of
- 12/2021
- EIN
- 20-0377476
Organization Overview
Colorado Open Golf Foundation is located in Denver, CO. The organization was established in 2004. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Colorado Open Golf Foundation 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 12/2021, Colorado Open Golf Foundation generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. While expenses have increased by 5.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO GENERATE AWARENESS, SPORTSMANSHIP, AND RECREATION FOR YOUTH ORIENTED SPORTS WITH THE GAME OF GOLF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTED COLORADO OPEN GOLF CHAMPIONSHIPS TO PROMOTE THE GAME AND SPORTSMANSHIP ASSOCIATED WITH THE GAME OF GOLF. THESE TOURNAMENTS WERE THE COLORADO OPEN GOLF CHAMPIONSHIP, THE COLORADO WOMEN'S OPEN, AND THE COLORADO SENIOR OPEN.
INSTRUCTED CHILDREN IN THE VALUES OF LIFE ASSOCIATED WITH THE GAME OF GOLF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Reidy Vice Chair | OfficerTrustee | 1 | $0 |
Molly Greenblatt Chair | OfficerTrustee | 1 | $0 |
Chris Nordling Immediate Pa | OfficerTrustee | 1 | $0 |
Dave Simon Treasurer | OfficerTrustee | 1 | $0 |
Jake Gilmore Secretary | OfficerTrustee | 1 | $0 |
Patrick Hamill Founder | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $52,865 |
| All other contributions, gifts, grants, and similar amounts not included above | $977,867 |
| Noncash contributions included in lines 1a–1f | $33,730 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,030,732 |
| Total Program Service Revenue | $343,480 |
| Investment income | $42,072 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $187,163 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,603,447 |
| 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. | $150,044 |
| Compensation of current officers, directors, key employees. | $107,605 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $187,901 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,274 |
| Payroll taxes | $27,036 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,152 |
| Fees for services: Other | $35,083 |
| Advertising and promotion | $72,055 |
| Office expenses | $6,900 |
| Information technology | $14,709 |
| Royalties | $0 |
| Occupancy | $8,196 |
| Travel | $1,247 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,419 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,013 |
| Insurance | $10,034 |
| All other expenses | $6,592 |
| Total functional expenses | $1,388,749 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $211,547 |
| Savings and temporary cash investments | $1,729,905 |
| Pledges and grants receivable | $36,145 |
| 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 | $5,990 |
| Net Land, buildings, and equipment | $41,134 |
| Investments—publicly traded securities | $1,779,421 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $119,860 |
| Other assets | $63,947 |
| Total assets | $3,987,949 |
| Accounts payable and accrued expenses | $6,214 |
| Grants payable | $0 |
| Deferred revenue | $1,775,000 |
| 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 | $1,781,214 |
| Net assets without donor restrictions | $261,813 |
| Net assets with donor restrictions | $1,944,922 |
| 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 | $3,987,949 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Colorado Open Golf Foundation has recieved totaling $9,000.
| Awarding Organization | Amount |
|---|---|
Colorado Golf Foundation Greenwood Village, CO PURPOSE: SEE PART IV | $9,000 |
Endowment Analysis
| Beg. Balance | $1,737,682 |
| Earnings | $212,524 |
| Admin Expense | -$9,786 |
| Net Contributions | $4,502 |
| Ending Balance | $1,944,922 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Teammates For Kids Foundation Denver, CO | $83,190,071 | $4,700,598 |
David & Lezlie Hudiburg Family Fdn Foundation Oklahoma City, OK | $0 | $1,762 |
No Stone Unturned Foundation Manhattan, KS | $1,585,423 | $2,930,431 |
Advantage Services Inc Salt Lake City, UT | $843,736 | $2,788,376 |
Indygive Colorado Springs, CO | $121,334 | $1,846,981 |
Optometry Giving Sight Golden, CO | $2,784,890 | $1,767,795 |
David S And Norma R Lewis Foundation Tucson, AZ | $3,952,273 | $380,765 |
Colorado Open Golf Foundation Denver, CO | $3,987,949 | $1,603,447 |
Hays Medical Center Foundation Hays, KS | $31,885,927 | $2,730,676 |
Ok Foundation Salt Lake City, UT | $4,818,165 | $645,498 |
Isa Foundation Gilbert, AZ | $705,543 | $701,098 |
St Vincent De Paul Society St Andrews Conference Of Sierra Vista Sierra Vista, AZ | $385,052 | $1,048,417 |