Professional Skaters Foundation
- Assets
- $731.8k
- Revenue
- $51.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Rochester, MN
- Founding
- 12/1996
- Data as of
- 03/2022
- EIN
- 41-1835343
Organization Overview
Professional Skaters Foundation is located in Rochester, MN. The organization was established in 1996. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Professional Skaters Foundation 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 03/2022, Professional Skaters Foundation generated $51.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (22.1%) each year. All expenses for the organization totaled $46.7k during the year ending 03/2022. 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
THE USE OF SCHOLARSHIPS THAT ARE DISTRIBUTED BASED ON CRITERIA AND GUIDELINES; ASSIST ALL COACHES AND PERFORMANCE SKATERS WHO NEED FINANCIAL ASSISTANCE DUE TO SICKNESS, DISABILITY OR AGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL ASSISTANCE FUND TO ASSIST/REIMBURSE PROFESSIONAL SKATERS WHO PARTICIPATE IN DEVELOPMENTAL AND EDUCATION PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Mccoy Treasurer | OfficerTrustee | 1 | $0 |
Carol Murphy Vice President | OfficerTrustee | 1 | $0 |
Gerry Lane Secretary | OfficerTrustee | 1 | $0 |
Patrick O'neil President | OfficerTrustee | 1 | $0 |
Tim Covington Board Member | Trustee | 1 | $0 |
Carol Rossignol Board Member | 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 | $32,274 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,274 |
| Total Program Service Revenue | $6,181 |
| Investment income | $12,895 |
| 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 | $51,350 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $25,045 |
| 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 | $0 |
| Fees for services: Accounting | $1,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,980 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,981 |
| Travel | $0 |
| 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 | $0 |
| Total functional expenses | $46,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,150 |
| Savings and temporary cash investments | $701,636 |
| 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 | $0 |
| 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 | $731,786 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $5,000 |
| 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 | $5,000 |
| Net assets without donor restrictions | $726,786 |
| 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 | $731,786 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Professional Skaters Foundation has recieved totaling $25,058.
| Awarding Organization | Amount |
|---|---|
Lisa Mcgraw Figure Skating Foundation Inc Pennington, NJ PURPOSE: UNRESTRICTED GENERAL | $25,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $58 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Land O L Foundation St Paul, MN | $1,405,792 | $8,007,013 |
Bridging Incorporated Bloomington, MN | $8,455,401 | $8,965,404 |
Opportunities Unlimited Sioux City, IA | $5,084,189 | $7,147,348 |
Tieszen Memorial Home Inc Marion, SD | $6,223,545 | $5,748,727 |
Lakeshore Cap Inc Of Wisconsin Manitowoc, WI | $4,910,382 | $5,227,133 |
Internet Security Research Group Minneapolis, MN | $6,123,679 | $6,560,425 |
Central Minnesota Housing Partnership Inc St Augusta, MN | $21,605,447 | $4,430,262 |
John & Denise Graves Foundation Minneapolis, MN | $54,924,760 | $867,412 |
Chs Foundation Inver Grove Heights, MN | $40,013,370 | $7,074,214 |
John R And Zelda Z Grubb Charitable Foundation Urbandale, IA | $12,465,569 | $3,157,752 |
Listen Love Is Sharing The Exceptional Needs Grand Forks, ND | $8,781,410 | $3,741,510 |
Breakwater Health Network Duluth, MN | $640,816 | $1,971,597 |