World Sports Inc
- Assets
- $4.4m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 1
- Location
- Bonita Springs, FL
- Founding
- 01/1983
- Data as of
- 12/2021
- EIN
- 59-2229691
Organization Overview
World Sports Inc is located in Bonita Springs, FL. The organization was established in 1983. According to its NTEE Classification (N71) the organization is classified as: Olympics, 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. World 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, World Sports Inc generated $3.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $3.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, World Sports Inc has awarded 42 individual grants totaling $7,099,984. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE SPORTS MINISTRY DEVELOPMENTS INTERNATIONALLY AND IN THE USA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORLD SPORTS FUNDS SPORTS MINISTRY TRAINING CONFERENCES INTERNATIONALLY AND IN THE USA. THE FIVE DAY TO THREE MONTH TRAININGS ARE FOR SPORT AND PLAY LEADERS TO LEARN TO SERVE CHILDREN, YOUTH AND COMPETITIVE ATHLETES. THE TRAININGS ALSO TEACH ATHLETES AND COMMUNITY GROUPS HOW TO SERVE THEIR CITY DURING REGIONAL AND GLOBAL SPORTS EVENTS. THE STRUCTURED TRAININGS PROVIDES CERTIFICATION OF OUTCOMES. OVER 75,000 ARE TRAINED ANNUALLY.
OTHER PROGRAM SERVICES - MISCELLANEOUS PROGRAM SERVICES THAT PROVIDED ADDITIONAL FUNDS TO ENCOURAGE SPORTS DEVELOPMENT IN ALL COUNTRIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward P Waxer President | OfficerTrustee | 40 | $176,176 |
Cary Drake Vice President | Officer | 0 | $0 |
Austin Carr Corresponding Secretary | Officer | 0 | $0 |
Hugh Morris Treasurer | Officer | 0 | $0 |
John Yip VP | Officer | 0 | $0 |
Ivan Bychkov Mr | Trustee | 0 | $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 | $3,136,178 |
| Noncash contributions included in lines 1a–1f | $314,618 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,136,178 |
| Total Program Service Revenue | $9,562 |
| Investment income | $15,209 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $3,226,167 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,428,471 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $174,770 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $176,176 |
| Compensation of current officers, directors, key employees. | $26,426 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $35,995 |
| Payroll taxes | $11,408 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,273 |
| Advertising and promotion | $3,271 |
| Office expenses | $5,158 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,924 |
| Travel | $3,408 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,649 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $663 |
| Insurance | $0 |
| All other expenses | $6,000 |
| Total functional expenses | $3,529,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,038,937 |
| Savings and temporary cash investments | $1,264,862 |
| 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 | $1,592 |
| Investments—publicly traded securities | $95,604 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,204 |
| Total assets | $4,415,199 |
| 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 | $4,415,199 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $4,415,199 |
Grants Awarded
Over the last fiscal year, World Sports Inc has awarded $2,426,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
SPORTS CATALYST INC PURPOSE: SPORTS OUTREACH | $1,883,000 |
LEAD TO SERVE PURPOSE: SPORTS OUTREACH | $320,000 |
LOGOSDOR PURPOSE: SPORTS OUTREACH | $145,000 |
GLOBAL GENEROSITY PURPOSE: SPORTS OUTREACH | $72,000 |
OC INTERNATIONAL PURPOSE: SPORTS OUTREACH | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that World Sports Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Dan And Martha Lou Beaird Foundation Dallas, TX PURPOSE: CHARITY | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
World Sports Inc Bonita Springs, FL | $4,415,199 | $3,226,167 |
Pan American Hockey Federation Inc Coral Gables, FL | $522,234 | $277,657 |
Lanier Canoe & Kayak Club Gainesville, GA | $210,636 | $164,992 |
Lake Lanier Rowing Club Inc Gainesville, GA | $367,827 | $79,705 |
South Florida Water Polo Foundation Inc Fort Lauderdale, FL | $0 | $79,464 |
Parent Booster Usa Inc Alpharetta, GA | $59,364 | $0 |
Savannah Sailing Center Inc Richmond Hill, GA | $0 | $0 |
Usa Rugby South Inc Columbus, GA | $51,252 | $0 |
Zephyr Racing Foundation Inc Fort Lauderdale, FL | $0 | $1,000 |