Innercity Tennis Foundation
- Assets
- $4.4m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 92
- Location
- Minneapolis, MN
- Founding
- 01/1954
- Data as of
- 12/2021
- EIN
- 41-6038537
Organization Overview
Innercity Tennis Foundation is located in Minneapolis, MN. The organization was established in 1954. 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 12/2021, Innercity Tennis Foundation employed 92 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innercity Tennis 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 12/2021, Innercity Tennis Foundation generated $3.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. While expenses have increased by 4.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENGAGE A SUPPORTIVE COMMUNITY TO UNLEASH THE FULL POTENTIAL OF YOUTH, ON AND OFF THE TENNIS COURT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH TENNIS AND EDUCATION PROGRAMS: ICT'S YOUTH PROGRAMS ARE SPECIFICALLY DESIGNED TO PROMOTE HEALTH, EDUCATION, COMMUNITY, AND CHARACTER. THESE PROGRAMS ARE DELIVERED IN 8 MINNEAPOLIS SCHOOLS AND PARTNER LOCATIONS, 22 MINNEAPOLIS PARKS, AND AT ICT'S 12 COURT INDOOR TENNIS CENTER IN SOUTH MINNEAPOLIS. EACH YEAR, APPROXIMATELY 5,000 MAINLY UNDERSERVED YOUTH ARE TAUGHT AND MENTORED BY ICT VIA: 1) FREE-OF-CHARGE PROGRAMS IN SCHOOLS, PARTNER ORGANIZATIONS, AND SUPER SATURDAYS AT ICT'S TENNIS CENTER, AND 2) FEE-BASED, OUT-OF-SCHOOL-TIME SUMMER TENNIS IN THE PARKS AND CITIES ACADEMY PROGRAMS THAT ARE OPEN TO ALL THROUGH NEED-BASED SCHOLARSHIPS. THOSE IN NEED INCLUDE AT-RISK KIDS, CHILDREN OF COLOR, AND CHILDREN FROM LOW-INCOME FAMILIES.
ADULT AND FAMILY PROGRAMS & SERVICES:ICT PROMOTES THE HEALTH, WELLNESS, AND COMMUNITY NEEDS OF ADULTS BY PROVIDING PUBLIC ACCESS AND LOW-COST INDIVIDUAL AND GROUP INSTRUCTION IN THE LIFELONG SPORT OF TENNIS. NO REGISTRATION FEES ARE REQUIRED; THUS, THE FACILITY IS OPEN TO ALL. ICT ALSO ENCOURAGES ITS VERY ACTIVE AND SUPPORTIVE ADULT COMMUNITY TO GIVE, VOLUNTEER, AND SHARE THEIR TIME AND TALENTS WITH KIDS. ICT ENGAGES ADULTS KNOWING THAT INTERGENERATIONAL VOLUNTEER ENGAGEMENT WITH YOUTH HAS FAR-REACHING BENEFITS FOR BOTH GROUPS IN TERMS OF PHYSICAL AND SOCIAL/EMOTIONAL HEALTH AND DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Wheaton Executive Director | Officer | 40 | $164,425 |
William C Prest Board Chair | OfficerTrustee | 3 | $0 |
John F Nealon Vice Chair | OfficerTrustee | 1 | $0 |
Christopher A Abbott Treasurer | OfficerTrustee | 1 | $0 |
Jillian Stockmo Chapman Secretary | OfficerTrustee | 1 | $0 |
Bradley K Anderson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $159,471 |
| Related organizations | $0 |
| Government grants | $732,988 |
| All other contributions, gifts, grants, and similar amounts not included above | $325,018 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,217,477 |
| Total Program Service Revenue | $1,904,355 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$26,767 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $25,622 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,125,271 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $137,046 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $201,847 |
| Compensation of current officers, directors, key employees. | $20,185 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,107,135 |
| Pension plan accruals and contributions | $16,022 |
| Other employee benefits | $52,073 |
| Payroll taxes | $98,558 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $73,684 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,283 |
| Advertising and promotion | $15,697 |
| Office expenses | $69,638 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $229,498 |
| Travel | $9,921 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,484 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $226,106 |
| Insurance | $28,194 |
| All other expenses | $0 |
| Total functional expenses | $2,498,024 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $715,939 |
| Savings and temporary cash investments | $8,005 |
| Pledges and grants receivable | $7,000 |
| Accounts receivable, net | $681,062 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,263 |
| Prepaid expenses and deferred charges | $22,348 |
| Net Land, buildings, and equipment | $1,722,500 |
| Investments—publicly traded securities | $1,043,792 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $185,409 |
| Other assets | $0 |
| Total assets | $4,397,318 |
| Accounts payable and accrued expenses | $91,302 |
| Grants payable | $0 |
| Deferred revenue | $212,587 |
| 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 | $26,628 |
| Total liabilities | $330,517 |
| Net assets without donor restrictions | $4,066,551 |
| Net assets with donor restrictions | $250 |
| 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 | $4,397,318 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Innercity Tennis Foundation has recieved totaling $162,591.
| Awarding Organization | Amount |
|---|---|
Usta Foundation Incorporated White Plains, NY | | $100,835 |
Ocora Foundation Wayzata, MN PURPOSE: PROGRAM SUPPORT | $25,000 |
Minneapolis Foundation Minneapolis, MN PURPOSE: DONOR-RECOMMENDED, SPORTS & RECREATION | $9,300 |
American Gift Fund Wilmington, DE PURPOSE: OPERATIONS | $8,000 |
Carval Investors Foundation St Louis Park, MN PURPOSE: GENERAL OPERATING SUPPORT | $7,500 |
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $5,355 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Innercity Tennis Foundation Minneapolis, MN | $4,397,318 | $3,125,271 |
Fox Cities Racquet Club Inc Appleton, WI | $1,857,342 | $780,069 |
St Paul Tennis Club Saint Paul, MN | $1,755,956 | $459,021 |
United States Tennis Association Inc Fond Du Lac, WI | $260,045 | $452,587 |
Ripple Inc Hopkins, MN | $120,753 | $449,789 |
Parkcrest Swim & Tennis Club Inc Madison, WI | $321,908 | $306,856 |
Milwaukee Tennis & Education Foundation Inc Milwaukee, WI | $374,068 | $282,472 |
River Tennis Club Inc River Hills, WI | $817,915 | $220,365 |
Mn North Sports Inc Duluth, MN | $154,664 | $205,728 |
Sconnie Lacrosse Inc Appleton, WI | $28,020 | $0 |
N U S E Hockey Association New Ulm, MN | $58,548 | $164,891 |
Mahtomedi Youth Lacrosse Association Willernie, MN | $64,747 | $152,833 |