Princeton National Rowing Association
- Assets
- $4.2m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 44
- Location
- Princeton Junction, NJ
- Founding
- 10/2000
- Data as of
- 06/2023
- EIN
- 22-3745915
Organization Overview
Princeton National Rowing Association is located in Princeton Junction, NJ. The organization was established in 2000. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 06/2023, Princeton National Rowing Association employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Princeton National Rowing Association 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 06/2023, Princeton National Rowing Association generated $1.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $1.6m during the year ending 06/2023. While expenses have increased by 4.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A VENUE WHERE ATHLETES OF ALL AGES, TALENTS AND BACKGROUNDS HAVE THE OPPORTUNITY TO DEVELOP THEIR ROWING ABILITIES TO THEIR HIGHEST POTENTIAL.CORE IMPLEMENTATION PRINCIPLES1) MAINTAINING AND CONSTANTLY SEEKING TO IMPROVE ONE OF THE NATION'S PREMIER ROWING VENUES.2) PROVIDING A WORLD CLASS TRAINING FACILITY FOR ALL PNRA CONSTITUENTS INCLUDING OLYMPIC AND ELITE TEAM MEMBERS,LOCAL STUDENTS AND MASTERS ROWERS.3) PROMOTING OPPORTUNITIES FOR AREA YOUTH TO EXCEL IN THE SPORT OF ROWING.4) CONDUCTING TOP LEVEL REGATTAS AND EVENTS5) SUPPORTING COMMUNITY DEVELOPMENT ACROSS GREATER MERCER COUNTY THROUGH TARGETED ROWING PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRINCETON NATIONAL ROWING ASSOCIATION (PNRA) OPERATES THE MERCER JUNIOR ROWING CLUB WHICH PROVIDES OPPORTUNITIES FOR 200 STUDENT ATHLETES FROM OVER 30 AREA HIGH SCHOOLS TO BENEFIT FROM THE STRUCTURE, DISCIPLINE AND EXERCISE OF ROWING. THE MERCER JUNIOR ROWING CLUB COMPETES BOTH LOCALLY AND NATIONALLY. AS PART OF ITS MISSION, PNRA WORKS WITH LOCAL COMMUNITY GROUPS AND TRENTON AREA SCHOOLS TO ENABLE STUDENT ATHLETES FROM THE URBAN TRENTON AREA TO BENEFIT FROM THE SPORT OF ROWING. THESE OUTREACH ACTIVITIES INCLUDED DEDICATED PROGRAMS FOR MIDDLE SCHOOL STUDENTS AND INTEGRATING HIGH SCHOOL AGE STUDENTS INTO THE MERCER JUNIOR ROWING PROGRAM. PNRA'S OUTREACH ACTIVITIES INCLUDE INTEGRATING ROWING AS A PART OF THE PHYSICAL EDUCATION CURRICULUM IN THE SCHOOLS, THE SWIM TO ROW PROGRAM, A STEM TO STERN PROGRAM, AND PARTNERING WITH OTHER COMMUNITY GROUPS.
PRINCETON NATIONAL ROWING ASSOCIATION OPERATES SUMMER CAMPS OUT OF THE CASPERSEN ROWING FACILITY. THE CAMPS INCLUDE LEARNING TO ROW DAY CAMPS DESIGNED TO INTRODUCE YOUTH TO THE SPORT OF ROWING.
PRINCETON NATIONAL ROWING ASSOCIATION HOSTS NUMEROUS ROWING REGATTAS THROUGHOUT THE YEAR, DRAWING TEAMS FROM AROUND THE COUNTRY TO COMPETE. COMPETITIONS INCLUDE LOCAL JUNIOR REGATTAS,COLLEGIATE AND NATIONAL CHAMPIONSHIP REGATTAS AND NATIONAL TEAM SELECTION EVENTS. MERCER COUNTY PARK AND MERCER LAKE WITH THE INFRASTRUCTURE INSTALLED AND MAINTAINED BY PRINCETON NATIONAL ROWING ASSOCIATION IS RECOGNIZED AS ONE OF THE PREMIERE ROWING VENUES IN THE UNITED STATES. THE PRINCETON NATIONAL ROWING ASSOCIATION ALSO RUNS INDOOR ROWING COMPETITIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Chen President | OfficerTrustee | 1 | $0 |
James Millar Vice President | OfficerTrustee | 1 | $0 |
Kristopher Grudt Executive Director/secreta | OfficerTrustee | 40 | $121,500 |
Ken Weinstein Board Member | Trustee | 1 | $0 |
Bernadette Teeley Board Member | Trustee | 1 | $0 |
Michael Zimmer Board Member | Trustee | 1 | $0 |
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 | $203,552 |
| Noncash contributions included in lines 1a–1f | $57,040 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $203,552 |
| Total Program Service Revenue | $1,538,065 |
| Investment income | $1,507 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,714 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$67 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,777,211 |
| 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. | $133,627 |
| Compensation of current officers, directors, key employees. | $20,655 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $424,110 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,196 |
| Payroll taxes | $46,135 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,407 |
| Fees for services: Accounting | $34,323 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,302 |
| Advertising and promotion | $14,905 |
| Office expenses | $12,945 |
| Information technology | $6,126 |
| Royalties | $0 |
| Occupancy | $123,135 |
| Travel | $220,795 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $163,851 |
| Insurance | $32,127 |
| All other expenses | $138,788 |
| Total functional expenses | $1,611,856 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,249,112 |
| Savings and temporary cash investments | $1,084,793 |
| Pledges and grants receivable | $77,268 |
| Accounts receivable, net | $31,600 |
| 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 | $6,435 |
| Net Land, buildings, and equipment | $1,746,114 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,464 |
| Other assets | $2,635 |
| Total assets | $4,200,421 |
| Accounts payable and accrued expenses | $9,854 |
| Grants payable | $0 |
| Deferred revenue | $79,636 |
| 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 | $2,635 |
| Total liabilities | $92,125 |
| Net assets without donor restrictions | $3,129,160 |
| Net assets with donor restrictions | $979,136 |
| 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 | $4,200,421 |