Washington Figure Skating Club Inc
- Assets
- $1.1m
- Revenue
- $331.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Herndon, VA
- Founding
- 09/2014
- Data as of
- 06/2022
- EIN
- 52-0681403
Organization Overview
Washington Figure Skating Club Inc is located in Herndon, VA. The organization was established in 2014. According to its NTEE Classification (N68) the organization is classified as: Winter Sports, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington Figure Skating Club 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 06/2022, Washington Figure Skating Club Inc generated $331.3k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $297.5k during the year ending 06/2022. While expenses have increased by 8.1% per year over the past 3 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE SPORT OF FIGURE SKATINTG. THE WFSC WAS FOUNDED IN 1938 AS A MEMBER OF THE UNITED STATES FIGURE SKATING ASSOCIATION. THE CLUB CURRENTY HAS OVER 1200 MEMBERS AND THE PRIMARY EXPENDITURES ARE THE RENTAL OF ICE SKATING RINKS FOR TEACHING, SPONSORSHIP OF COMPETITIONS, TESTING, SEMINARS AND OTHER MEANS OF SUPPORT FOR SKATERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB IS RESPONSIBLE FOR TESTING SKATING LEVELS OF ALL SKATERS. THESE TESTS ARE SCHEDULED ALMOST EVERY MONTH AND TYPICALLY RUN 6-8 HOURS FOR BOTH FREESTYLE AND DANCE. A FEE DESIGNED TO COVER COSTS IS CHARGED TO THE SKATER BASED ON LEVEL (COST) OF THE TEST.
THE CLUB HOSTED THREE SKATING COMPETITIONS (THE NEW YEARS INVITATIONAL, THE PICKEN DANCE CLASSIC, AND THE POTOMAC OPEN)
THE WFSC HAS CONSISTENTLY AWARDED SUPPORTING GRANTS TO ADVANCED SKATERS TO HELP WITH EXPENSES TO QUALIFYING LEVEL COMPETITIONS. THROUGH THE CAPITOL SKATING FUND AND THE MAIN INCOME REVENUE, THE GRANT AWARDS HAVE BECOME A MAJOR PROGRAM SERVICE WITH SUPPORT TO SKATERS AND ORGANIZATIONS AND PROGRAMS THROUGHOUT THE WASHINGTON DC AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherry Chen President | OfficerTrustee | 8 | $0 |
Judy Reiner Vice President | OfficerTrustee | 2 | $0 |
Jill Cantrill Secretary | OfficerTrustee | 2 | $0 |
Konrad Huppi Treasurer | OfficerTrustee | 8 | $0 |
Marcia Sowles Member-At-Large | OfficerTrustee | 1 | $0 |
Dalal Badri Director At Large | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $233,074 |
| Investment income | $62,457 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $35,211 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $569 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $331,311 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $31,000 |
| Grants and other assistance to domestic individuals. | $43,135 |
| 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 | $1,367 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,238 |
| Fees for services: Other | $2,000 |
| Advertising and promotion | $1,089 |
| Office expenses | $4,341 |
| Information technology | $2,595 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $575 |
| All other expenses | $27,341 |
| Total functional expenses | $297,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $88,463 |
| Savings and temporary cash investments | $0 |
| 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 | $965,359 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,053,822 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $1,053,822 |
| Total liabilities and net assets/fund balances | $1,053,822 |
Grants Awarded
Over the last fiscal year, Washington Figure Skating Club Inc has awarded $17,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DC EDGE SYNCHRONIZED SKATING PURPOSE: General operating support | $10,000 |
ASHBURN THEATRE ON ICE PURPOSE: General operating support | $7,500 |