United State Olympic And Paralympic Properties Llc
- Assets
- $148.0m
- Revenue
- $71.6m
- Investments
- $0.0
- Employees
- 47
- Location
- Los Angeles, CA
- Founding
- Data as of
- 12/2023
- EIN
- 32-0570956
Organization Overview
United State Olympic And Paralympic Properties Llc is located in Los Angeles, CA. According to its NTEE Classification (N71) the organization is classified as: Olympics, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, United State Olympic And Paralympic Properties Llc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United State Olympic And Paralympic Properties Llc 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, United State Olympic And Paralympic Properties Llc generated $71.6m in total revenue. All expenses for the organization totaled $80.1m during the year ending 12/2023. While expenses have increased by 490.1% per year over the past 2 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
UNITED STATES OLYMPIC AND PARALYMPIC PROPERTIES, LLC (USOPP) WILL IMPROVE AND ENHANCE THE QUALITY OF LIFE OF THE RESIDENTS OF THE CITY OF LOS ANGELES AND THE SURROUNDING METROPOLITAN AREA THROUGH THE HOSTING OF THE 2028 GAMES OF THE XXXIV OLYMPIAD AND THE XVIII PARALYMPIC GAMES IN LOS ANGELES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RAISING FUNDS TO BE USED TO PLAN, ORGANIZE, FINANCE, PROMOTE, SPONSOR, HOST AND STAGE THE 2028 GAMES.
PROMOTING AND ADMINISTERING SPONSORSHIP, MARKETING, HOSPITALITY AND OTHER SPONSORSHIP RIGHTS RELATED TO USOPP, LA28, THE USOPC, THE 2028 OLYMPIC & PARALYMPIC GAMES, THE US OLYMPIC AND PARALYMPIC TEAMS AND OTHER EDITIONS OF THE OLYMPIC AND PARALYMPIC GAMES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Casey Wasserman Chairperson/president | OfficerTrustee | 0.5 | $0 |
Sarah Hirshland Director | Trustee | 0.1 | $0 |
Gene Skyes Director (begin 01/23) | Trustee | 0.1 | $0 |
Christopher Pepe Chief Commercial Officer | Officer | 39.9 | $927,210 |
Daniel Koblin Chief Operating Officer | Officer | 39.9 | $712,380 |
Tanja Olano Chief Legal Officer | Officer | 20 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Salesforcecom Inc Information Technology | 12/30/23 | $5,333,861 |
I'm From The Future Llc Marketing, Advertising, & Media | 12/30/23 | $503,684 |
Arenson Consulting Group Inc Consulting | 12/30/23 | $222,605 |
Basis Research Marketing, Advertising, & Media | 12/30/23 | $150,000 |
Methodology It Inc Information Technology | 12/30/23 | $165,345 |
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 | $34,312,491 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,312,491 |
| Total Program Service Revenue | $34,319,198 |
| Investment income | $1,029,333 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $71,641,029 |
| 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. | $1,646,905 |
| Compensation of current officers, directors, key employees. | $928,358 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,916,122 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $336,894 |
| Payroll taxes | $382,757 |
| 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 | $0 |
| Fees for services: Other | $311,484 |
| Advertising and promotion | $1,877,498 |
| Office expenses | $28,712 |
| Information technology | $5,017,150 |
| Royalties | $0 |
| Occupancy | $19,388 |
| Travel | $715,870 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $64,848,049 |
| Total functional expenses | $80,100,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,880,084 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $46,032,170 |
| 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 | $12,941,446 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $60,136,833 |
| Total assets | $147,990,533 |
| Accounts payable and accrued expenses | $15,410,227 |
| Grants payable | $0 |
| Deferred revenue | $192,734,408 |
| 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 | $27,693,210 |
| Total liabilities | $235,837,845 |
| Net assets without donor restrictions | -$87,847,312 |
| 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 | $147,990,533 |