Princeton Tennis Program
- Assets
- $2.8m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 40
- Location
- Princeton, NJ
- Founding
- 08/1968
- Data as of
- 03/2024
- EIN
- 22-6104478
Organization Overview
Princeton Tennis Program is located in Princeton, NJ. The organization was established in 1968. 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 03/2024, Princeton Tennis Program employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Princeton Tennis Program 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 03/2024, Princeton Tennis Program generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $1.7m during the year ending 03/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE TOP QUALITY AND AFFORDABLE TENNIS FOR ALL AGES AND LEVELS BY BRINGING THE GREAT GAME OF TENNIS TO ALL WHILE PURSUING A STANDARD OF EXCELLENCE IN TEACHING THAT ENCOURAGES THE DEVELOPMENT OF HEALTH, CHARACTER, GOOD SPORTSMANSHIP AND RESPONSIBLE CITIZENSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PTP PROVIDES TOP QUALITY AND AFFORDABLE TENNIS FOR ALL AGES AND LEVELS. PTPS MISSION IS TO BRING THE GREAT GAME OF TENNIS TO ALL WHILE PURSUING A STANDARD OF EXCELLENCE IN TEACHING THAT ENCOURAGES THE DEVELOPMENT OF HEALTH, CHARACTER, GOOD SPORTSMANSHIP AND RESPONSIBLE CITIZENSHIP. THIS IS DONE IN MANY WAYS, INCLUDING BUT NOT LIMITED TO SCHOLARSHIPS AND FINANCIAL AID AWARDED TO CHILDREN THAT COULD OTHERWISE NOT AFFORD TO PLAY TENNIS, AND WE STRIVE TO EXPAND THESE OFFERINGS. IN ADDITION TO THE YOUTH OFFERINGS, PTP DISCOUNT SENIOR PROGRAMS HAVE SUBSIDIZED LESSONS AND PROGRAMS FOR AREA SENIORS. THESE SPECIALIZED PROGRAMS ARE DESIGNED TO PROMOTE HEALTH, FUN, MEETING NEW PEOPLE AND WELL-BEING. PTP STRIVES TO BRING TENNIS TO ALL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gina Pileggi Executive Dir. | Officer | 40 | $128,933 |
Pamela Hughes Trustee | Trustee | 5 | $0 |
Barry Szaferman Vice Chair | OfficerTrustee | 5 | $0 |
Jack Roberts Trustee | Trustee | 5 | $0 |
Ernie Cerino Secretary | OfficerTrustee | 5 | $0 |
Marie Carusone Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,295 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,895 |
| Total Program Service Revenue | $1,635,361 |
| Investment income | $19,253 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $304 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,669,813 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $127,525 |
| Compensation of current officers, directors, key employees. | $51,010 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $774,807 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $106,476 |
| Payroll taxes | $81,217 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,561 |
| Fees for services: Accounting | $45,390 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $250 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21,775 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $96,105 |
| Insurance | $78,240 |
| All other expenses | $130,316 |
| Total functional expenses | $1,716,951 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,596 |
| Savings and temporary cash investments | $103,892 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,262 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,981 |
| Prepaid expenses and deferred charges | $15,050 |
| Net Land, buildings, and equipment | $1,963,740 |
| Investments—publicly traded securities | $547,067 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,532 |
| Total assets | $2,763,120 |
| Accounts payable and accrued expenses | $30,028 |
| Grants payable | $0 |
| Deferred revenue | $78,481 |
| 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 | $476,587 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,532 |
| Total liabilities | $588,628 |
| Net assets without donor restrictions | $2,174,492 |
| 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 | $2,763,120 |