Colorado Springs Sports Corporation
- Assets
- $3.5m
- Revenue
- $1.9m
- Investments
- $2.4m
- Employees
- 20
- Location
- Colorado Springs, CO
- Founding
- 01/1983
- Data as of
- 12/2022
- EIN
- 84-0811908
Organization Overview
Colorado Springs Sports Corporation is located in Colorado Springs, CO. The organization was established in 1983. According to its NTEE Classification (N70) the organization is classified as: Amateur Sports Competitions, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Colorado Springs Sports Corporation employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Colorado Springs Sports Corporation 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 12/2022, Colorado Springs Sports Corporation generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 1.6% per year over the past 8 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 2016, Colorado Springs Sports Corporation has awarded 39 individual grants totaling $672,901. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION WAS FORMED TO HELP STAGE THE FIRST NATIONAL SPORTS FESTIVAL. CSSC SET OUT TO ESTABLISH A STRONG REGIONAL SPORTS PRESENCE THROUGH ECONOMIC DEVELOPMENT, EVENT PROMOTION, AND COMPLETE DEDICATION TO OUR YOUTH SPORT AND COMMUNITY DEVELOPMENT ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROCKY MOUNTAIN STATE GAMES - RMSG IS A MULTI-SPORT FESTIVAL FOR COLORADO CITIZENS, AS WELL AS OTHER STATES WITHOUT STATE GAMES PROGRAMS, OF ALL AGES AND ATHLETIC ABILITIES INCLUDING PHYSICALLY DISABLED, VISUALLY IMPAIRED AND PARAOLYMPIC ATHLETES. THE ROCKY MOUNTAIN STATE GAMES PROGRAM BENEFITED FROM 113,592 WORTH OF VALUE IN KIND CONTRIBUTIONS. THE MAJORITY OF THIS 113,592 HAS BEEN EXCLUDED FROM SUPPORT LISTED IN PART I, LINE 1 AND PART VIII, LINE 1G, SINCE IT PERTAINED TO SERVICES AND FACILITIES, AS DEFINED BY THE INTERNAL REVENUE SERVICE.
INTERNATIONAL AND NATIONAL SUPPORT - WE SUPPORT THE USOPC HEADQUARTERS, THE PIKES PEAK INTERNATIONAL HILL CLIMB, THE U.S. OLYMPIC AND PARALYMPIC MUSEUM, AND OTHER EVENTS WHICH BENEFIT THE INTERNATIONAL, NATIONAL, AND LOCAL COMMUNITY AS A WHOLE. THE SPORTS COMPETITIONS AND COMMUNITY SUPPORT PROGRAM BENEFITED FROM 452,337 WORTH OF VALUE IN KIND CONTRIBUTIONS. THE MAJORITY OF THIS 452,337 HAS BEEN EXCLUDED FROM SUPPORT LISTED IN PART I, LINE 1 AND PART VIII, LINE 1G, SINCE IT PERTAINED TO SERVICES AND FACILITIES, AS DEFINED BY THE INTERNAL REVENUE SERVICE.
OTHER PROGRAM RELATED ACTIVITIES ADVANCING THE STATUS OF AMATEUR SPORTS IN THE COLORADO SPRINGS COMMUNITY, INCLUDING MEMBERSHIP. THESE PROGRAMS BENEFITED FROM 8,789 WORTH OF VALUE IN KIND CONTRIBUTIONS. THE MAJORITY OF THIS 8,789 HAS BEEN EXCLUDED FROM SUPPORT LISTED IN PART I, LINE 1 AND PART VIII, LINE 1G, SINCE IT PERTAINED TO SERVICES AND FACILITIES, AS DEFINED BY THE INTERNAL REVENUE SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Palenchar Chair | OfficerTrustee | 5 | $0 |
Katie Willemarck Treasurer | OfficerTrustee | 2 | $0 |
Chuck Delich Secretary | OfficerTrustee | 2 | $0 |
Laura Mellini Immediate Pa | OfficerTrustee | 2 | $0 |
Lou Mellini Member | Trustee | 2 | $0 |
Julie Dusslierie Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,570 |
| Fundraising events | $7,351 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,271,465 |
| Noncash contributions included in lines 1a–1f | $45,707 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,288,386 |
| Total Program Service Revenue | $510,267 |
| Investment income | $26,920 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $11,730 |
| Net Gain/Loss on Asset Sales | $45,716 |
| Net Income from Fundraising Events | $2,245 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,891,049 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $136,250 |
| Grants and other assistance to domestic individuals. | $3,760 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $241,712 |
| Compensation of current officers, directors, key employees. | $120,856 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $467,290 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $41,323 |
| Payroll taxes | $48,079 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $118,648 |
| Advertising and promotion | $54,608 |
| Office expenses | $32,314 |
| Information technology | $29,609 |
| Royalties | $0 |
| Occupancy | $98,659 |
| Travel | $54,793 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,125 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,354 |
| Insurance | $30,766 |
| All other expenses | $154,471 |
| Total functional expenses | $1,795,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $299,742 |
| Savings and temporary cash investments | $645,128 |
| Pledges and grants receivable | $37,500 |
| Accounts receivable, net | $123,446 |
| 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 | $17,599 |
| Net Land, buildings, and equipment | $15,034 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,401,858 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,540,307 |
| Accounts payable and accrued expenses | $39,456 |
| Grants payable | $0 |
| Deferred revenue | $312,771 |
| 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 | $352,227 |
| Net assets without donor restrictions | $2,530,166 |
| Net assets with donor restrictions | $657,914 |
| 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 | $3,540,307 |
Grants Awarded
Over the last fiscal year, Colorado Springs Sports Corporation has awarded $84,450 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
COLORADO HS ACTIVITIES ASSOCIATION PURPOSE: SPORTS PROG. SUPPORT | $14,500 |
USA WRESTLING PURPOSE: SPORTS PROG. SUPPORT | $10,000 |
CHD LLCDBA ADRENALINE LACROSEE PURPOSE: SPORTS PROG. SUPPORT | $10,000 |
PRIDE SOCCER CLUB INC PURPOSE: SPORTS PROG. SUPPORT | $10,000 |
CHEYENNE MOUNTAIN RESORT | | | $6,500 |
ROCKY MOUNTAIN MUSTANG ROUNDUP | | | $6,450 |