National Gymnastics Foundation Inc
- Assets
- $5.8m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 03/1989
- Data as of
- 12/2021
- EIN
- 35-1757753
Organization Overview
National Gymnastics Foundation Inc is located in Los Angeles, CA. The organization was established in 1989. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Gymnastics 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 12/2021, National Gymnastics Foundation Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $688.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, National Gymnastics Foundation Inc has awarded 19 individual grants totaling $8,370,459. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE NATIONAL GYMNASTICS FOUNDATION IS TO PROVIDE FOR THE SUSTAINABILITY AND PROMOTION OF THE SPORT OF GYMNASTICS AND SUPPORT THE ONGOING EDUCATION AND OUTREACH EFFORTS OF USA GYMNASTICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NATIONAL GYMNASTICS FOUNDATION PROVIDES GRANTS TO USA GYMNASTICS TO SUPPORT THEIR EFFORTS IN OPERATING AS THE NATIONAL GOVERNING BODY FOR THE SPORT OF GYMNASTICS UNDER THE AMATEUR SPORTS ACT, FOR THE PURPOSE OF ENSURING TODAY'S GYMNASTS CONTINUE TO RECEIVE THE SUPPORT THEY DESERVE AND THAT ALL ATHLETES ARE ABLE TO CONTINUE TO PURSUE THEIR DREAMS AND ACHIEVE THEIR GOALS.IN ADDITION, THE FOUNDATION PROVIDES GRANTS TO:-ATHLETES: TO CONTINUE THEIR EDUCATION WHILE TRAINING FULL-TIME AT THE COLLEGIATE OR ELITE LEVEL.-GYMNASTICS PROGRAMS: TO SUPPORT CONTINUATION OF COLLEGIATE PROGRAMS SO THAT THEY CAN CONTRIBUTE TO THE ELITE ATHLETE DEVELOPMENT PIPLEINE, AS WELL AS OFFER COLLEGIATE SCHOLARSHIPS TO PROMISING SCHOLAR ATHLETES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sallie Weaver Secretary | OfficerTrustee | 1 | $0 |
John Deary Vice Chair | OfficerTrustee | 1 | $0 |
George Paraja Treasurer | OfficerTrustee | 1 | $0 |
Kristin Allen Chair | OfficerTrustee | 5 | $0 |
Jim Morris Director | Trustee | 1 | $0 |
Dan Bachman Director | 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 | $59,142 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $59,142 |
| Total Program Service Revenue | $0 |
| Investment income | $70,340 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $942,599 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,072,081 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $339,000 |
| Grants and other assistance to domestic individuals. | $161,001 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $89,467 |
| Fees for services: Accounting | $25,814 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,698 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $76 |
| 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 | $29,136 |
| All other expenses | $0 |
| Total functional expenses | $688,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,284 |
| Savings and temporary cash investments | $2,277 |
| Pledges and grants receivable | $0 |
| 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 | $24,653 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,711,967 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,763,181 |
| Accounts payable and accrued expenses | $32,436 |
| Grants payable | $65,289 |
| Deferred revenue | $0 |
| 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 | $319,000 |
| Total liabilities | $416,725 |
| Net assets without donor restrictions | $2,903,194 |
| Net assets with donor restrictions | $2,443,262 |
| 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 | $5,763,181 |
Grants Awarded
Over the last fiscal year, National Gymnastics Foundation Inc has awarded $339,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Indianapolis, IN PURPOSE: SUPPORT THE EDUCATIONAL AND CHARITABLE EFFORTS OF USA GYMNASTICS | $319,000 |
Clever, MO PURPOSE: SUPPORT, EXPAND, AND CULTIVATE A THRIVING ACRO COMMUNITY | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that National Gymnastics Foundation Inc has recieved totaling $57,799.
| Awarding Organization | Amount |
|---|---|
Usa Gymnastics Indianapolis, IN PURPOSE: Support tuition assistance and educational endeavors of The National Gymnastics Foundation | $57,799 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern California Volleyball Association Irvine, CA | $497,915 | $4,872,375 |
Sunkist Kids Wrestling Club Inc Phoenix, AZ | $51,140 | $922,214 |
Arizona High School Rodeo Association Inc San Tan Valley, AZ | $222,584 | $884,408 |
National Gymnastics Foundation Inc Los Angeles, CA | $5,763,181 | $1,072,081 |
Pamakid Runners San Francisco, CA | $169,061 | $517,646 |
Portland Marathon Inc Portland, OR | $31,096 | $0 |
Kokokahi Gym Team Association Inc Kaneohe, HI | $328,943 | $514,968 |
United States Handball Association Tucson, AZ | $3,996,208 | $1,287,285 |
Umpqua Valley Gymnastics Inc Roseburg, OR | $201,666 | $434,141 |
California-Usa Wrestling Inc Fresno, CA | $227,606 | $368,939 |
United States Judo Federation Ontario, OR | $2,186,185 | $430,983 |
Willits Frontier Days Inc Willits, CA | $345,566 | $418,143 |