Legends Sports Leagues Inc
- Assets
- $186.0k
- Revenue
- $366.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Oakton, VA
- Founding
- 06/2007
- Data as of
- 12/2021
- EIN
- 87-0772930
Organization Overview
Legends Sports Leagues Inc is located in Oakton, VA. The organization was established in 2007. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legends Sports Leagues Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Legends Sports Leagues Inc generated $366.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $332.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
LEGENDS PROVIDES ADULT AND YOUTH SPORTS LEAGUES AND RELATED SPORTS ACTIVITIES YEARROUND
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE BASKETBALL LEAGUES FOR ADULTS
PROVIDE BASKETBALL LEAGUES FOR YOUTH
PROVIDE BASEBALL LEAGUE FOR ADULTS
PROVIDE PICKLEBALL LEAGUE AND TOURNAMENTS FOR ADULTS AND YOUTH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald J Cortese Presidenttreasuror | OfficerTrustee | 50 | $60,000 |
Joyce Eaby Vice President | OfficerTrustee | $0 | |
Amy K Farabow Secretary | OfficerTrustee | $0 | |
Laurence J Cortese Special Projects | Trustee | $0 | |
Alyssa J Cortese Artphotography | Trustee | $0 | |
Christopher J Cortese Historian | Trustee | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $364,368 |
| Investment income | $2,376 |
| 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 | $366,744 |
| 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. | $60,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $45,305 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,711 |
| Advertising and promotion | $2,426 |
| Office expenses | $126 |
| Information technology | $2,504 |
| Royalties | $0 |
| Occupancy | $24,000 |
| Travel | $476 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $168 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,528 |
| All other expenses | $25,115 |
| Total functional expenses | $332,054 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,000 |
| Savings and temporary cash investments | $58,000 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $186,000 |
| Accounts payable and accrued expenses | $2,000 |
| 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 | $2,000 |
| Net assets without donor restrictions | $184,000 |
| 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 | $186,000 |
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