Crystal Coast Tournament Inc
- Assets
- $2.9m
- Revenue
- $10.4m
- Investments
- $745.7k
- Employees
- 31
- Location
- Morehead City, NC
- Founding
- 03/1985
- Data as of
- 10/2023
- EIN
- 56-1330701
Organization Overview
Crystal Coast Tournament Inc is located in Morehead City, NC. The organization was established in 1985. As of 10/2023, Crystal Coast Tournament Inc employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Crystal Coast Tournament 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 10/2023, Crystal Coast Tournament Inc generated $10.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.7% each year . All expenses for the organization totaled $11.0m during the year ending 10/2023. While expenses have increased by 15.7% per year over the past 8 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.
Since 2015, Crystal Coast Tournament Inc has awarded 145 individual grants totaling $9,553,453. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS RAISING FUNDS FOR CHARITIES AND WORTHY COMMUNITY PROJECTS TO PROMOTE CONSERVATON AMOUNG SPORTSFISHERMEN AND PRESERVE MARITIME CULTURE AND HERITAGE WHILE PROMOTING MARINE EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS ABLE TO RAISE FUNDS TO HELP SUPPORT LOCAL ORGANIZATIONS IN THE AREA INCLUDING HELPING MENTALLY AND PHYSCIALLY HANDICAPPED INDIVIDUALS AND RAISED FUNDS FOR ORGANIZATIONS WHO HELP TO PROMOTE FISH PRESERVATION AND SPORTSFISHING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Billy Kornegay Director | Trustee | 5 | $0 |
Caroline Petrilli Director | Trustee | 5 | $0 |
Casey Wagner Vice President | OfficerTrustee | 5 | $0 |
Curtis Strange Director | Trustee | 5 | $0 |
Dale Britt Past President | Trustee | 5 | $0 |
Dew Forbes Director | Trustee | 5 | $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 | $11,347 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,347 |
| Total Program Service Revenue | $8,942,294 |
| Investment income | $60,916 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $7,430 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,385,749 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,407,971 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,749,200 |
| 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. | $156,369 |
| Compensation of current officers, directors, key employees. | $156,369 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $470,723 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,671 |
| Payroll taxes | $48,968 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,955 |
| Fees for services: Accounting | $25,129 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,969 |
| Office expenses | $175,505 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $136,363 |
| Travel | $14,441 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,064 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,067 |
| Insurance | $57,524 |
| All other expenses | $26,374 |
| Total functional expenses | $11,011,741 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,033 |
| Savings and temporary cash investments | $1,836,040 |
| 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 | $176,941 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $29,490 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $745,657 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $84,085 |
| Total assets | $2,875,246 |
| Accounts payable and accrued expenses | $300,550 |
| 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 | $2,041,366 |
| Total liabilities | $2,341,916 |
| 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 | $533,330 |
| Total liabilities and net assets/fund balances | $2,875,246 |
Grants Awarded
Over the last fiscal year, Crystal Coast Tournament Inc has awarded $2,714,000 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
BIG ROCK FOUNDATION INC PURPOSE: TO PROVIDE FUNDING TO THE FOUNDATION SO IT CAN PROVIDE ASSISTANCE TO CHILD RELATED ACTIVITITES | $1,200,000 |
CARTERET HEALTH CARE FOUNDATION PURPOSE: TO PROVIDE FUNDS TO ASSIST WITH THE EXPANSION OF THE FACILITY/CANCER FACILITY UPGRADES/NAMING | $500,000 |
DELTA HEALTH FOUNDATION PURPOSE: TO PROVIDE FUNDING TO ALLOW 30 CANCER SURVIVORS TO FISH KWLA TOURNAMENT | $10,000 |
CROATAN HIGH SCHOOL BAND PURPOSE: TO PROVIDE FUNDING TO ALLOW THE ORGANIZATION TO PURCHASE NEW BAND UNIFORMS | $50,000 |
CARTERET COUNTY SCHOOLS-BEAUFORT MIDDLE SCHOOL PURPOSE: TO PROVIDE FUNDING TO ENABLE ENTITY TO UPDATE FIELD AND FIELD MAINTENANCE/SAFETY | $84,000 |
MILITARY APPRECIATON DAY PURPOSE: TO PROVIDE GENERAL SUPPORT FOR 2024 | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Childrens Trust Fund Of South Carolina Columbia, SC | $9,441,843 | $19,419,562 |
Crystal Coast Tournament Inc Morehead City, NC | $2,875,246 | $10,407,971 |
Childrens Advocacy Center Of Hamilton County Inc Chattanooga, TN | $930,889 | $1,206,088 |
The Childcare Network Fredericksburg, VA | $163,038 | $843,097 |
Adults Working And Advocating For Kids Empowerment Awake Sylva, NC | $770,935 | $901,331 |
Kare Inc Waynesville, NC | $1,144,634 | $573,071 |
Camden Community Alliance & Resources Inc Saint Marys, GA | $398,895 | $477,682 |
Herndon Childrens Center Inc Herndon, VA | $0 | $244,220 |
Mitchell County Children And Youth Inc Camilla, GA | $178,234 | $122,176 |
Knoxville Scottish Rite Foundation Inc Knoxville, TN | $972,594 | $116,211 |