Sport And Entertainment Corporation Of Maryland
- Assets
- $246.3k
- Revenue
- $14.4m
- Investments
- $0.0
- Employees
- 4
- Location
- Baltimore, MD
- Founding
- 11/2019
- Data as of
- 12/2023
- EIN
- 83-4686104
Organization Overview
Sport And Entertainment Corporation Of Maryland is located in Baltimore, MD. The organization was established in 2019. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Sport And Entertainment Corporation Of Maryland employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sport And Entertainment Corporation Of Maryland 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 12/2023, Sport And Entertainment Corporation Of Maryland generated $14.4m in total revenue. All expenses for the organization totaled $11.3m during the year ending 12/2023. While expenses have increased by 88.2% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND IS A 501C3 ESTABLISHED IN 2019 TO FURTHER AND PROMOTE EXCLUSIVELY, CHARITABLE, RELIGIOUS, EDUCATIONAL AND SCIENTIFIC PURPOSES AND THE BUSINESS AND OBJECTS TO BE CARRIED ON AND PROMOTED BY IT ARE: 1 TO INCUBATE CULTURAL AND OPERATIONAL EVENT INTEGRITY FOR LARGE SCALE SPORT AND ENTERTAINMENT EVENTS IN MARYLAND 2 TO SUPPORT MARYLAND SPORTS IN HOSTING MAJOR SPORTS EVENTS, ECONOMIC ANALYSIS AND RESEARCH RELATING TO SPORTS, SPONSORSHIP OF MAJOR SPORTS EVENTS, AND DEVELOPMENT OF PARTNERSHIPS WITH OTHER PUBLIC AND PRIVATE ENTITIES TO SPONSOR MAJOR SPORTS EVENTS 3 TO LESSEN THE GOVERNMENTS BURDEN BY PROMOTING REGIONAL, NATIONAL AND INTERNATIONAL SPORTING EVENTS IN THE STATE OF MARYLAND 4 TO RECRUIT, RETAIN, MARKET, PROMOTE AND MANAGE SPORTS EVENTS THAT HAVE POSITIVE MEDIA EXPOSURE, ECONOMIC IMPACT AND IMAGE IMPACT WITHIN THE STATE OF MARYLAND, AND WHICH WILL ENHANCE THE QUALITY OF LIFE OF CITIZENS OF THE STATE OF MARYLAND AND 5 TO SOLICIT AND
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARYLAND 5 STAR AT FAIR HILL - THE FAIR HILL ORGANIZING COMMITTEE WAS CREATED TO DELIVER, PLAN, MANAGE AND OVERSEE ALL ASPECTS OF THE ACTIVITIES THAT TAKE PLACE AT THE MARYLAND 5 STAR AT FAIR HILL, EVENT TO BEGIN IN 2020.
MARYLAND CYCLING CLASSIC - MARYLANDS FIRST UCI PROSERIES TOUR STOP THE MARYLAND CYCLING CLASSIC ORGANIZING COMMITTEE IS CHARGED WITH DELIVERING, PLANNING, MANAGING AND OVERSEEING ALL ASPECTS OF THE ACTIVITIES THAT TAKE PLACE AT THE INAUGURAL MARYLAND CYCLING CLASSIC & FESTIVAL SEPTEMBER 2021.
AMATEUR ATHLETIC UNION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Newman President Of Maryland 5 Star | 40 | $175,000 | |
Terry Hasseltine President | OfficerTrustee | 25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,912,418 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,936,586 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,849,004 |
| Total Program Service Revenue | $1,489,312 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $28,470 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,366,786 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $175,000 |
| Compensation of current officers, directors, key employees. | $17,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $262,680 |
| Pension plan accruals and contributions | $26,088 |
| Other employee benefits | $1,602 |
| Payroll taxes | $50,860 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,000 |
| Fees for services: Accounting | $18,979 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $278,571 |
| Advertising and promotion | $374,778 |
| Office expenses | $351,229 |
| Information technology | $26,833 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $34,268 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $884 |
| Insurance | $34,027 |
| All other expenses | $5,336,307 |
| Total functional expenses | $11,277,293 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $239,299 |
| Savings and temporary cash investments | $0 |
| 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 | $4,767 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,250 |
| Total assets | $246,316 |
| 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 | $246,316 |
| 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 | $246,316 |