Usa Water Ski & Wake Sports Inc
- Assets
- $1.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 9
- Location
- Auburndale, FL
- Founding
- 06/1990
- Data as of
- 12/2021
- EIN
- 59-0841458
Organization Overview
Usa Water Ski & Wake Sports Inc is located in Auburndale, FL. The organization was established in 1990. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, USA Water Ski & Wake Sports Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. USA Water Ski & Wake Sports 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 12/2021, USA Water Ski & Wake Sports Inc generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.3%) per year over the past 6 years. 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 ADVANCE, SUPPORT AND SERVICE THE SPORT OF WATER SKIING AND ALL TOWED WATER SPORTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPORT DEVELOPMENT PROGRAMS- TO PROVIDE MATERIALS AND TO ESTABLISH CRITERIA TO MEMBERS FOR WATER SKIER CLINICS FOR BETTER TRAINING AND SAFETY INSTRUCTION AND TO PROVIDE GRASSROOTS MATERIALS & INSTRUCTION TO CERTIFY INSTRUCTORS IN THE DEVELOPMENT OF THE SPORT. GRANTS ARE DISTRIBUTED TO SPORT DISCIPLINES FOR WATER SKIING DEVELOPMENT.
NATIONAL TOURNAMENTS AND COMPETITIONS - COMPETITIONS TO PROMOTE WATER SKIING AND WATER SKIING DEVELOPMENT.
MEMBERSHIP - PROVIDES MEMBERS ACCESS TO SANCTIONED TOURNAMENTS AND EVENTS, INSTRUCTIONAL ASSISTANCE, AND INSURANCE PROTECTION.
PUBLICATION - INCLUDES THE PUBLICATION OF A MAGAZINE, THE WATER SKIER, WHICH IS SENT TO ALL MEMBERS AND OTHER PERSONS WITH INTEREST IN THE SPORT, AND NUMEROUS EDUCATIONAL MATERIALS ADDRESSING ALL ASPECTS OF WATER SKIING.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Adkison Usopc/athlete Rep | Trustee | 2 | $0 |
Alex Lauretano Athlete Rep | Trustee | 2 | $0 |
David Rezin Athlete Rep | Trustee | 2 | $0 |
Jason Lee Athlete Rep | Trustee | 2 | $0 |
Connor Poggetto Athlete Rep | Trustee | 2 | $0 |
Jerry Bautsch Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $212,824 |
| All other contributions, gifts, grants, and similar amounts not included above | $101,975 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $314,799 |
| Total Program Service Revenue | $1,456,525 |
| Investment income | $6,619 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $189 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $32,954 |
| Net Income from Fundraising Events | $2,963 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $11,318 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,825,367 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,760 |
| Grants and other assistance to domestic individuals. | $24,250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $140,777 |
| Compensation of current officers, directors, key employees. | $39,418 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $286,806 |
| Pension plan accruals and contributions | $9,670 |
| Other employee benefits | $39,235 |
| Payroll taxes | $30,231 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,625 |
| Fees for services: Accounting | $34,944 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,093 |
| Fees for services: Other | $4,862 |
| Advertising and promotion | $889 |
| Office expenses | $56,501 |
| Information technology | $65,289 |
| Royalties | $0 |
| Occupancy | $6,543 |
| Travel | $8,715 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,663 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,483 |
| Insurance | $337,020 |
| All other expenses | $77,716 |
| Total functional expenses | $1,449,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $556,946 |
| Savings and temporary cash investments | $385,520 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,241 |
| 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 | $10,572 |
| Net Land, buildings, and equipment | $1,296 |
| Investments—publicly traded securities | $481,246 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,442,821 |
| Accounts payable and accrued expenses | $59,904 |
| Grants payable | $0 |
| Deferred revenue | $595,075 |
| 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 | $654,979 |
| Net assets without donor restrictions | $753,870 |
| Net assets with donor restrictions | $33,972 |
| 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 | $1,442,821 |
Grants Awarded
Over the last fiscal year, Usa Water Ski & Wake Sports Inc has awarded $31,571 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL SHOW SKI ASSOCIATION PURPOSE: SUPPORT SPORT OF WATER SKI | $18,693 |
ATRIUM HEALTH FOUNDATION PURPOSE: REIMBURSEMENT GRANTS FOR VETERAN'S ADAPTIVE WATER SKI CLINICS HELD. | $7,854 |
ANN'S ANGELS ADAPTIVE WATERSKI FOUNDATION PURPOSE: REIMBURSEMENT GRANTS FOR VETERAN'S ADAPTIVE WATER SKI CLINICS HELD. | $5,024 |