Milwaukee Tennis & Education Foundation Inc
- Assets
- $608.8k
- Revenue
- $376.7k
- Investments
- $0.0
- Employees
- 30
- Location
- Milwaukee, WI
- Founding
- 09/1979
- Data as of
- 12/2023
- EIN
- 39-1317061
Organization Overview
Milwaukee Tennis & Education Foundation Inc is located in Milwaukee, WI. The organization was established in 1979. 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 12/2023, Milwaukee Tennis & Education Foundation Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milwaukee Tennis & Education 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 12/2023, Milwaukee Tennis & Education Foundation Inc generated $376.7k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $268.0k during the year ending 12/2023. While expenses have increased by 0.9% per year over the past 9 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
TO IMPROVE THE LIVES AND FUTURES OF MILWAUKEE'S YOUTH THROUGH TENNIS, EDUCATION AND MENTORING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROMOTES TENNIS IN THE STATE OF WISCONSIN, WHILE ALSO PROVIDING EDUCATIONAL TUTORING TO CHILDREN IN MILWAUKEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timon Corwin Director | Trustee | 1 | $0 |
Elizabeth A Horneffer Director | Trustee | 1 | $0 |
Kurt Janavitz Director | OfficerTrustee | 1 | $0 |
Chris Schifano Director | OfficerTrustee | 1 | $0 |
Makda Fessehaye Director | Trustee | 1 | $0 |
Mary Fran Cahill Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $108,606 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $251,268 |
| Noncash contributions included in lines 1a–1f | $2,825 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $359,874 |
| Total Program Service Revenue | $15,396 |
| Investment income | $13,260 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$12,700 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $376,675 |
| 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. | $92,000 |
| Compensation of current officers, directors, key employees. | $9,338 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $93,418 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $434 |
| Payroll taxes | $14,084 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,906 |
| Advertising and promotion | $0 |
| Office expenses | $10,333 |
| Information technology | $7,928 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $366 |
| 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 | $3,015 |
| All other expenses | $12,783 |
| Total functional expenses | $267,980 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $454,059 |
| Savings and temporary cash investments | $150,096 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,219 |
| 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 | $432 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $608,806 |
| Accounts payable and accrued expenses | $30,665 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $30,665 |
| Net assets without donor restrictions | $514,565 |
| Net assets with donor restrictions | $63,576 |
| 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 | $608,806 |