Virginia Polo Inc
- Assets
- $9.2m
- Revenue
- $280.4k
- Investments
- $0.0
- Employees
- 6
- Location
- Charlottesville, VA
- Founding
- 06/1991
- Data as of
- 12/2022
- EIN
- 54-1569671
Organization Overview
Virginia Polo Inc is located in Charlottesville, VA. The organization was established in 1991. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Virginia Polo Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Polo 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 12/2022, Virginia Polo Inc generated $280.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $541.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
INTERCOLLEGIATE POLO PROGRAM AT THE UNIVERSITY OF VIRGINIA BENEFITTING PARTICIPATING STUDENTS AND THE UNIVERSITY COMMUNITY, AS WELL AS THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
INTERCOLLEGIATE POLO PROGRAM AT THE UNIVERSITY OF VIRGINIA BENEFITS PARTICIPATING STUDENTS AND THE UNIVERSITY COMMUNITY, AS WELL AS THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Barry Director | Trustee | 2 | $0 |
Aleco Bravo Director | Trustee | 2 | $0 |
Jim Dunlap Director | Trustee | 2 | $0 |
Jay Dusauzay Director | Trustee | 2 | $0 |
John F Flournoy Jr Director | Trustee | 2 | $0 |
Strother Scott Jr Treasurer | OfficerTrustee | 2 | $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 | $154,149 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $154,149 |
| Total Program Service Revenue | $163,338 |
| Investment income | $165 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$75,853 |
| 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 | $280,436 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $151,872 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $63,754 |
| Fees for services: Other | $1,810 |
| Advertising and promotion | $0 |
| Office expenses | $4,521 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,775 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,507 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,048 |
| Insurance | $27,410 |
| All other expenses | $70,743 |
| Total functional expenses | $541,314 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,548 |
| 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 | $1,030,638 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,202,966 |
| Total assets | $9,240,152 |
| 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 | $9,240,152 |
| Total liabilities and net assets/fund balances | $9,240,152 |