Outer Banks Sporting Events Inc
- Assets
- $187.3k
- Revenue
- $383.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Kill Devil Hills, NC
- Founding
- 12/2010
- Data as of
- 12/2022
- EIN
- 38-3804133
Organization Overview
Outer Banks Sporting Events Inc is located in Kill Devil Hills, NC. The organization was established in 2010. 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 12/2022, Outer Banks Sporting Events Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Outer Banks Sporting Events 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 12/2022, Outer Banks Sporting Events Inc generated $383.0k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $404.7k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ORGANIZE AND PROMOTE SPORTS COMPETITION AND HEALTHY LIVING WHILE CONTRIBUTING TO ECONOMIC DEVELOPMENT AND PROVIDING FINANCIAL RESOURCES TO THE OUTER BANKS OF NORTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OUTER BANKS MARATHON/HALF MARATHON IS OUR SIGNATURE EVENT. THIS EVENT IS RUN ON VETERANS DAY WEEKEND IN ORDER TO TAKE ADVANTAGE OF THE EXTRA LONG WEEKEND AND COOL FALL WEATHER. EVENTS INCLUDE SOMETHING FOR EVERYONE; A FUN RUN, 5K, 10K, HALF AND FULL MARATHON. OBSE PARTNERS WITH GOFAR - AN ORGANIZATION WHICH PROMOTES AND COORDINATES HEALTHY YOUTH RUNNING, TRAINING, PROGRAMS TO PARTICIPATE IN THE FUN RUN AND 5K EVENTS. THERE IS A FAMILY FRIENDLY ATMOSPHERE WITH VENDORS AND KID FRIENDLY ACTIVITIES. THE POST RACE FESTIVAL ON SUNDAY CONCLUDES AT THE WRIGHT BROTHERS NATIONAL MEMORIAL WITH TOHUSANDS GATHERING TO ENJOY THE MUSIC, FOOD AND FUN, WHILE WATCHING RUNNERS FINISH THE HALF AND FULL MARATHONS.
THE RUNNING OF THE LEPRECHAUNS IS HELD IN CONJUNCTION WITH THE CELEBRATED ST. PATRICK'S DAY PARADE AND INCLUDES A 5K AND 10K RUN.
THE FLYING PIRATE HALF MARATHON IS ORGANIZED TO BRING VISITORS TO THE OUTER BANKS AND ICNREASE ECONOMIC DEVELOPMENT DURING A TYPICALLY SLOW PORTION OF THE TOURIST SEASON AND TO FOSTER NATIONAL AND INTERNATIONAL AMATEUR SPORTS COMPETITION.
THE OUTER BANKS TRIATHLON IS A SERIES OF TWO TRIATHLONS WHICH OFFER SOMETHING FOR ALL SKILL LEVELS. THERE IS ALSO AN OPPORTUNITY TO COMPETE AS RELAY TEAMS WHICH GIVES ATHLETES THE CHANCE TO PAIR WITH OTHERS IN THEIR AREAS OF EXPERTISE TO COMPETE A TRIATHLON. THE TRIATHLON ENCOURAGES HEALTHY LIVING AND FITNESS AS A RUNNER, CYCLIST AND/OR SWIMMER. THIS EVENT BROUGHT OVER 300 ATHLETES AND THEIR FAMILIES TO THE AREA IN SEPTEMBER, WHEN TOURISM STARTS TO WANE YET THE WEATHER AND WATERS ARE STILL WARM ENOUGH TO ENJOY. EXPOSURE TO THE OUTER BANKS ENVIRONMENT DURING THIS TIME OF YEAR WILL ENCOURGAE VISITORS TO RETURN FOR A HOLIDAY OR LONGER VACATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sam Cortez Board Member | Trustee | 1 | $0 |
Martin Donlan Treasurer | OfficerTrustee | 10 | $0 |
Nick Graham Board Member | Trustee | 1 | $0 |
Tess Judge Board Member | Trustee | 1 | $0 |
Kathy Martin Board Member | Trustee | 1 | $0 |
Kc Mcavoy Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $57,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $37,280 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $94,780 |
| Total Program Service Revenue | $289,384 |
| Investment income | $58 |
| 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 | $382,997 |
| 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. | $49,250 |
| Compensation of current officers, directors, key employees. | $9,850 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $26,120 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,560 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,607 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,983 |
| Advertising and promotion | $20,376 |
| Office expenses | $13,078 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,839 |
| Travel | $13,085 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,431 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,355 |
| Insurance | $6,187 |
| All other expenses | $47,628 |
| Total functional expenses | $404,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,431 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $29,000 |
| 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 | $46,356 |
| Prepaid expenses and deferred charges | $1,352 |
| Net Land, buildings, and equipment | $5,486 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $6,071 |
| Other assets | $1,600 |
| Total assets | $187,296 |
| Accounts payable and accrued expenses | $108,985 |
| Grants payable | $0 |
| Deferred revenue | $19,328 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,469 |
| Total liabilities | $281,782 |
| Net assets without donor restrictions | -$94,486 |
| 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 | $187,296 |
Grants Awarded
Over the last fiscal year, Outer Banks Sporting Events Inc has awarded $0 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DARE EDUCATION FOUNDATION | | | $0 |
OUTER BANKS RELIEF FOUNDATION | | | $0 |