Iptay
- Assets
- $125.0m
- Revenue
- $72.2m
- Investments
- $15.0m
- Employees
- 0
- Location
- Clemson, SC
- Founding
- 07/2014
- Data as of
- 06/2022
- EIN
- 46-5666637
Organization Overview
Iptay is located in Clemson, SC. The organization was established in 2014. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iptay 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 06/2022, Iptay generated $72.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $65.0m during the year ending 06/2022. 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
SUPPORT OF CLEMSON UNIVERSITY ATHLETIC PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
IPTAY SPONSORS ANNUAL COSTS FOR ATHLETIC SCHOLARSHIPS AND, TO THE EXTENT POSSIBLE, OTHER EXPENSES OF THE CLEMSON UNIVERSITY ATHLETIC PROGRAM THAT ARE APPROVED BY THE IPTAY BOARD OF DIRECTORS. IPTAY WAS CREATED TO PROVIDE SUPPORT TO CLEMSON UNIVERSITY'S ATHLETIC PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Riggins President | OfficerTrustee | 1 | $0 |
Billy Milam President-Elect | OfficerTrustee | 1 | $0 |
Rett Rutland Secretary | OfficerTrustee | 1 | $0 |
Ben Griffith Treasurer | OfficerTrustee | 1 | $0 |
Davis Babb CEO | Officer | 37.5 | $0 |
Graham Neff Athletic Director (beg. Dec 2021) | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clemson University Foundation Investment Management | 6/29/22 | $252,731 |
Brown Brothers Harriman Investment Management | 6/29/22 | $130,578 |
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 | $70,467 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $70,467 |
| Total Program Service Revenue | $69,699,659 |
| Investment income | $1,036,065 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,403,600 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $72,209,791 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $62,415,404 |
| 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. | $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 | $480,731 |
| Fees for services: Accounting | $18,461 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $803,144 |
| Fees for services: Other | $388,560 |
| Advertising and promotion | $25,000 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $66,935 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $782,872 |
| Total functional expenses | $64,981,107 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,106,556 |
| Savings and temporary cash investments | $21,563,004 |
| Pledges and grants receivable | $29,063,043 |
| Accounts receivable, net | $231,901 |
| 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 | $47,769,299 |
| Investments—other securities | $14,972,109 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $283,690 |
| Total assets | $124,989,602 |
| Accounts payable and accrued expenses | $88,200 |
| 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 | $5,000,000 |
| Other liabilities | $4,901,581 |
| Total liabilities | $9,989,781 |
| Net assets without donor restrictions | $66,506,676 |
| Net assets with donor restrictions | $48,493,145 |
| 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 | $124,989,602 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Iptay has recieved totaling $45,618.
| Awarding Organization | Amount |
|---|---|
Bannon Foundation Greenville, SC PURPOSE: SUPPORT ATHLETIC DEPARTMENT | $45,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $618 |
Endowment Analysis
| Beg. Balance | $63,126,229 |
| Earnings | -$1,028,421 |
| Net Contributions | $18,539,704 |
| Grants | $13,174,187 |
| Ending Balance | $67,463,325 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iptay Clemson, SC | $124,989,602 | $72,209,791 |
Youth Enrichment Program Of Wilson Wilson, NC | $22,968,665 | $15,099,824 |
National Association Of Competitive Soccer Clubs Myrtle Beach, SC | $2,349,314 | $12,740,248 |
National Honorary Beta Club Spartanburg, SC | $16,976,895 | $7,178,910 |
Girls On The Run International Charlotte, NC | $10,723,648 | $6,480,865 |
Corners Outreach Inc Peachtree Corners, GA | $1,471,202 | $3,739,961 |
Horizons Atlanta Inc Atlanta, GA | $3,035,876 | $3,541,460 |
Durham Childrens Initiative Durham, NC | $2,025,864 | $2,503,533 |
Camp Kudzu Inc Atlanta, GA | $2,213,204 | $2,347,555 |
Childrens Cancer Partners Of The Carolinas Inc Spartanburg, SC | $2,472,941 | $2,689,678 |
Urbanpromise Charlotte Charlotte, NC | $1,805,956 | $3,303,316 |
Future Foundation Inc Atlanta, GA | $453,569 | $1,952,212 |