United States Olympic Endowment
- Assets
- $492.4m
- Revenue
- $27.8m
- Investments
- $177.3m
- Employees
- 2
- Location
- Colorado Springs, CO
- Founding
- 09/1984
- Data as of
- 12/2021
- EIN
- 74-2327838
Organization Overview
United States Olympic Endowment is located in Colorado Springs, CO. The organization was established in 1984. According to its NTEE Classification (N12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, United States Olympic Endowment employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United States Olympic Endowment 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, United States Olympic Endowment generated $27.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $12.1m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL SUPPORT TO THE UNITED STATES OLYMPIC AND PARALYMPIC COMMITTEE AND ITS MEMBER ORGANIZATIONS THAT DEVELOP AMATEUR ATHLETES FOR NATIONAL & INTERNATIONAL COMPETITION
Describe the Organization's Program Activity:
THE BOARD OF DIRECTORS AUTHORIZED A GRANT TO THE UNITED STATES OLYMPIC AND PARALYMPIC COMMITTEE ON DECEMBER 8, 2021 IN THE AMOUNT OF $10,934,421, PAYABLE DURING THE FIRST QUARTER OF 2022. IN ADDITION TO SUPPORTING THE UNITED STATES OLYMPIC AND PARALYMPIC COMMITTEE (COMMITTEE), THE ENDOWMENT PROVIDES SUPPORT TO SECTION 501(C)(3) PUBLIC CHARITY SPORTS ORGANIZATIONS THAT ARE MEMBERS OF THE UNITED STATES OLYMPIC AND PARALYMPIC COMMITTEE AND HOLDS AND INVESTS THEIR FUNDS SOLELY AS AGENT IN FURTHERANCE OF THE ENDOWMENT'S SUPPORT TO THE COMMITTEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walter Glover Evp/coo | Officer | 21 | $125,392 |
Dana Kuhlman Asst. Secretary | Officer | 40 | $83,248 |
William J Hybl Chairman Of The Board And CEO | OfficerTrustee | 2 | $0 |
Paula Welch Treasurer | OfficerTrustee | 1 | $0 |
Gabe Gardner Secretary | OfficerTrustee | 1 | $0 |
Michael Mcmanus Vice Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nyes Ledge Capital Offshore Fund L Investment Manager | 12/30/20 | $114,083 |
Prime Buchholz And Associates Investment Consult. | 12/30/20 | $224,481 |
Forester Capital Llc Investment Manager | 12/30/20 | $143,782 |
Willian Blair Investment Manager | 12/30/20 | $153,938 |
Acadian Investment Manager | 12/30/20 | $109,072 |
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 | $616 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $616 |
| Total Program Service Revenue | $0 |
| Investment income | $3,300,215 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,498,471 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,799,302 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,934,421 |
| 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. | $226,505 |
| Compensation of current officers, directors, key employees. | $226,505 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,650 |
| Payroll taxes | $15,961 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,621 |
| Fees for services: Accounting | $39,786 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $745,373 |
| Fees for services: Other | $3,950 |
| Advertising and promotion | $0 |
| Office expenses | $10,556 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,224 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,518 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $917 |
| Insurance | $27,690 |
| All other expenses | $0 |
| Total functional expenses | $12,090,784 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,442,731 |
| 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 | $31,054 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $299,528,485 |
| Investments—other securities | $177,337,937 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $41,946 |
| Total assets | $492,382,153 |
| Accounts payable and accrued expenses | $214,456 |
| Grants payable | $10,934,421 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $215,537,108 |
| 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 | $107,622 |
| Total liabilities | $226,793,607 |
| Net assets without donor restrictions | $152,812,692 |
| Net assets with donor restrictions | $112,775,854 |
| 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 | $492,382,153 |
Grants Awarded
Over the last fiscal year, United States Olympic Endowment has awarded $10,562,464 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Colorado Springs, CO PURPOSE: GENERAL SUPPORT | $10,162,464 |
Colorado Springs, CO PURPOSE: General Support | $400,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that United States Olympic Endowment has recieved totaling $9,192.
| Awarding Organization | Amount |
|---|---|
El Pomar Foundation Colorado Springs, CO PURPOSE: NONPROFIT OFFICE SPACE | $7,816 |
El Pomar Foundation Colorado Springs, CO PURPOSE: PENROSE HOUSE GIFT IN KIND | $1,376 |
Endowment Analysis
| Beg. Balance | $112,775,238 |
| Earnings | $20,497,554 |
| Net Contributions | $616 |
| Other Expense | $20,497,554 |
| Ending Balance | $112,775,854 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United States Olympic Endowment Colorado Springs, CO | $492,382,153 | $27,799,302 |
Fields & Futures Foundation Edmond, OK | $7,089,979 | $3,122,717 |
Team Evergreen Cycling Evergreen, CO | $430,306 | $1,836,318 |
Harmes C Fishback Foundation Trust Englewood, CO | $13,285,039 | $68,460 |
Arizona Tennis Charities Phoenix, AZ | $163,967 | $845,443 |
World Cup Dreams Foundation Park City, UT | $853,676 | $1,291,836 |
Chaparral Firebirds Baseball Club Phoenix, AZ | $33,145 | $562,494 |
Utah Mountain Sports Academy Provo, UT | $136,054 | $521,102 |
Boulder Parks And Recreation Foundation Inc Boulder, CO | $541,484 | $360,790 |
Friends Of Hogadon Casper, WY | $17,685 | $398,188 |
The Colorado Parks Foundation Inc Denver, CO | $1,922,854 | $796,705 |
Salt Lake City - Utah Committee For The Games Inc Salt Lake City, UT | $724,935 | $1,010,000 |