Military Bowl Foundation Inc
- Assets
- $7.0m
- Revenue
- $6.6m
- Investments
- $363.2k
- Employees
- 10
- Location
- Washington, DC
- Founding
- 06/2009
- Data as of
- 03/2023
- EIN
- 26-3268204
Organization Overview
Military Bowl Foundation Inc is located in Washington, DC. The organization was established in 2009. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 03/2023, Military Bowl Foundation Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Military Bowl Foundation Inc 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 03/2023, Military Bowl Foundation Inc generated $6.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $5.1m during the year ending 03/2023. While expenses have increased by 4.0% 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.
Since 2016, Military Bowl Foundation Inc has awarded 11 individual grants totaling $360,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO (A) FOSTER AND CONDUCT NATIONAL AMATEUR SPORTS COMPETITIONS BY PLAYING A POST-SEASON COLLEGE FOOTBALL GAME, AS WELL AS OTHER ANCILLARY ACTIVITIES, AND (B) TO ACQUIRE AND OPERATE PROPERTY AND ANCILLARY FACILITIES FOR THE PURPOSE OF PROVIDING RECREATIONAL AND REHABILITATION OPPORTUNITIES FOR VETERANS AND THEIR FAMILIES IN A MANNER CONSISTENT WITH THE CORPORATION'S CHARITABLE AND EDUCATIONAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MILITARY BOWL FOUNDATION, INC. PROVIDES THE WASHINGTON METROPOLITAN AREA WITH THE FINEST COLLEGIATE FOOTBALL AND RELATED EVENTS. THE MILITARY BOWL FOUNDATION ENHANCES COMMUNITY PRIDE BY HOSTING THE ANNUAL MILITARY BOWL. THE GOAL IS TO STRENGTHEN THE LOCAL ECONOMY, BOOST THE REGION'S NATIONAL IMAGE, HONOR THE U.S. MILITARY, AND HAVE A POSITIVE EFFECT ON THE COMMUNITY AND CHARITABLE ORGANIZATIONS.
MILITARY BOWL FOUNDATION, INC. IS THE SOLE MEMBER OF PATRIOT POINT, LLC (THE "LLC"), A DC LIMITED LIABILITY COMPANY THAT IS TREATED AS A DISREGARDED ENTITY FOR TAX PURPOSES. PATRIOT POINT, LLC WAS FORMED ON JANUARY 21, 2016, TO PURCHASE, CONSTRUCT, OWN, OPERATE AND MANAGE A RETREAT LOCATED AT 750 TAYLORS ISLAND ROAD, MADISON, MD 21648, FOR WOUNDED, ILL, AND INJURED SERVICE MEMBERS AND THEIR FAMILIES AND CAREGIVERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Beck President & Exe. Director | OfficerTrustee | 30 | $388,103 |
Lauren Schram Vice President And Board Sec/treas. | OfficerTrustee | 30 | $142,312 |
Mark Goldman Sr. Director Of Partnerships | 30 | $142,475 | |
Christopher W Cole Chair | OfficerTrustee | 1 | $0 |
Lawrence C Leber Chair, Finance Committee | Trustee | 1 | $0 |
Ben Davis Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $118,099 |
| Related organizations | $0 |
| Government grants | $325,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,904,581 |
| Noncash contributions included in lines 1a–1f | $151,541 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,347,680 |
| Total Program Service Revenue | $3,369,001 |
| Investment income | $38,519 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $875,000 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $507 |
| Net Income from Fundraising Events | -$32,248 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,605,169 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,549 |
| 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. | $646,328 |
| Compensation of current officers, directors, key employees. | $228,888 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $367,234 |
| Pension plan accruals and contributions | $7,029 |
| Other employee benefits | $30,423 |
| Payroll taxes | $68,388 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $51,942 |
| Fees for services: Accounting | $7,520 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $80,814 |
| Advertising and promotion | $134,804 |
| Office expenses | $207,056 |
| Information technology | $12,398 |
| Royalties | $0 |
| Occupancy | $44,853 |
| Travel | $61,250 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $429,827 |
| Interest | $1,108 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $176,662 |
| Insurance | $60,131 |
| All other expenses | $3,299 |
| Total functional expenses | $5,123,543 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200,095 |
| Savings and temporary cash investments | $161,444 |
| Pledges and grants receivable | $200,000 |
| Accounts receivable, net | $73,664 |
| 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 | $14,000 |
| Net Land, buildings, and equipment | $4,682,138 |
| Investments—publicly traded securities | $1,270,756 |
| Investments—other securities | $363,219 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,965,316 |
| Accounts payable and accrued expenses | $43,980 |
| Grants payable | $0 |
| Deferred revenue | $165,205 |
| 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 | $209,185 |
| Net assets without donor restrictions | $6,756,131 |
| 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 | $6,965,316 |
Grants Awarded
Over the last fiscal year, Military Bowl Foundation Inc has awarded $125,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED SERVICE ORGANIZATIONS INC PURPOSE: TO SUPPORT THE MORALE, WELFARE, SOCIAL AND ENTERTAINMENT NEEDS OF TROOPS AND THEIR FAMILIES. | $110,000 |
CONGRESSIONAL MEDAL OF HONOR FOUNDATION PURPOSE: TO PERPETUATE THE MEDAL OF HONOR'S LEGACY THROUGH OUTREACH AND COLLABORATIVE EFFORTS AND PROMOTE AMERICAN VALUES. | $10,000 |
THE HARRIS WILLIAMS FOUNDATION PURPOSE: SPONSORSHIP FOR FOUNDATION STARTED IN HONOR OR A WOUNDED VETERAN. | $5,000 |