Copperhead Charities Inc
- Assets
- $5.6m
- Revenue
- $16.4m
- Investments
- $390.0k
- Employees
- 13
- Location
- Palm Harbor, FL
- Founding
- 12/1983
- Data as of
- 05/2023
- EIN
- 59-2319162
Organization Overview
Copperhead Charities Inc, operating under the name Valspar Championship, is located in Palm Harbor, FL. The organization was established in 1983. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 05/2023, Valspar Championship employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valspar Championship 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 05/2023, Valspar Championship generated $16.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $16.3m during the year ending 05/2023. While expenses have increased by 6.2% per year over the past 7 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, Valspar Championship has awarded 278 individual grants totaling $10,837,121. 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
PROVIDE AID TO TAMPA BAY CHARITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE 2023 VALSPAR CHAMPIONSHIP, TAMPA BAY'S PGA TOUR EVENT, GENERATED CHARITABLE CONTRIBUTIONS OF $1,189,548 FOR CHARITY. THE TOURNAMENT'S CHARITABLE INITIATIVES COME THROUGH THE SPONSORING ORGANIZATION, COPPERHEAD CHARITIES INC.COPPERHEAD CHARITIES, NOW HAS NOW GENERATED ROUGHLY $50 MILLION FOR CHARITY SINCE 1977 THROUGH THE SPONSORSHIP OF PROFESSIONAL GOLF TOURNAMENTS IN THE TAMPA BAY AREA.(SEE CONTINUATION AT SCHEDULE O.)THE TOTAL INCLUDES MONEY RAISED THROUGH TICKET SALES AND OTHER TOURNAMENT PROCEEDS. APPROXIMATELY 70 AREA CHARITIES ARE BENEFITING FROM THE 2023 TOURNAMENT. COPPERHEAD CHARITIES MADE MANY DIRECTED DONATIONS IN 2023 WITH TAMPA GENERAL HOSPITAL, HABITAT FOR HUMANITY OF PINELLAS AND WEST PASCO COUNTIES, ST. PETERSBURG COLLEGE FOUNDATION, AND AREA CHAPTERS OF THE FIRST TEE AMONG THE KEY CHARITIES BENEFITING.AN INDEPENDENT ECONOMIC IMPACT STUDY PERFORMED BY THE UNIVERSITY OF SOUTH FLORIDA COLLEGE OF BUSINESS SPORT AND ENTERTAINMENT MANAGEMENT PROGRAM AND SPORTSECONOMICS, LLC FOUND THAT TOURNAMENT ACTIVITIES TRANSLATE TO AN ANNUAL ECONOMIC IMPACT OF OVER $64 MILLION TO THE TAMPA BAY AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronde Barber General Chair | OfficerTrustee | 3 | $0 |
John Astrab Vice Chair | OfficerTrustee | 2.5 | $0 |
Jim Eisch Immediate Past Chair & Finance Chair | OfficerTrustee | 1 | $0 |
Lisa Smithson-Payne Director | Trustee | 1 | $0 |
Jon Wax Director | Trustee | 1 | $0 |
Ronice Barlow Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $130,018 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,632,657 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,762,675 |
| Total Program Service Revenue | $10,539,745 |
| Investment income | $32,106 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $22,611 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,357,137 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,189,548 |
| 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. | $809,458 |
| Compensation of current officers, directors, key employees. | $110,329 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $661,064 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $216,354 |
| Payroll taxes | $121,524 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,040 |
| Fees for services: Accounting | $20,580 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $96,821 |
| Advertising and promotion | $315,410 |
| Office expenses | $54,897 |
| Information technology | $67,453 |
| Royalties | $0 |
| Occupancy | $25,884 |
| Travel | $41,449 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $95,196 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $63,452 |
| Insurance | $46,438 |
| All other expenses | $0 |
| Total functional expenses | $16,327,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $884,453 |
| Savings and temporary cash investments | $973 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,937,027 |
| 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 | $186,647 |
| Net Land, buildings, and equipment | $168,146 |
| Investments—publicly traded securities | $1,296,484 |
| Investments—other securities | $390,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $693,492 |
| Total assets | $5,557,222 |
| Accounts payable and accrued expenses | $2,360,465 |
| Grants payable | $0 |
| Deferred revenue | $86,750 |
| 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 | $547,911 |
| Total liabilities | $2,995,126 |
| Net assets without donor restrictions | $2,562,096 |
| 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 | $5,557,222 |
Grants Awarded
Over the last fiscal year, Copperhead Charities Inc has awarded $1,049,418 in support to 48 organizations.
| Grant Recipient | Amount |
|---|---|
ACADEMY PREP CENTER OF ST PETERSBURG PURPOSE: GENERAL SUPPORT | $5,700 |
CITY OF CLEARWATER PURPOSE: GENERAL SUPPORT | $10,000 |
CHI CHI RODRIGUEZ FOUNDATION PURPOSE: GENERAL SUPPORT | $12,931 |
JOHN'S HOPKINS ALL CHILDREN'S HOSPITAL PURPOSE: GENERAL SUPPORT | $58,565 |
HEELS TO HEAL INC PURPOSE: GENERAL SUPPORT | $14,421 |
THE FIRST TEE OF TAMPA BAY PURPOSE: GENERAL SUPPORT | $28,600 |