Chance Sports
- Assets
- $379.8k
- Revenue
- $720.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- Data as of
- 12/2023
- EIN
- 88-2769009
Organization Overview
Chance Sports is located in Denver, CO. According to its NTEE Classification (N70) the organization is classified as: Amateur Sports Competitions, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chance Sports 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, Chance Sports generated $720.4k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 55.0% each year . All expenses for the organization totaled $523.7k during the year ending 12/2023. 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
CHANCE SPORTS IS A COLORADO TAX-EXEMPT NONPROFIT SCHOLARSHIP ORGANIZATION THAT PROVIDES FINANCIAL ASSISTANCE TO YOUNG ATHLETES FROM FAMILIES WITH FINANCIAL NEED SO THEY CAN ACCESS COMPETITIVE CLUB SPORT PROGRAMS AND LEARN LEADERSHIP AND TEAM-BUILDING SKILLS THAT WILL BENEFIT THEM ON AND OFF THE ATHLETIC FIELD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MOVED TO ADDRESS INEQUITY, THE CORNERSTONE PROGRAM OF CHANCE SPORTS IS THE PROVISION OF FINANCIAL SUPPORT FOR YOUTH TO ACCESS COMPETITIVE CLUB SPORTS, WHILE SIMULTANEOUSLY DEVELOPING LEADERSHIP AND TEAMBUILDING SKILLS THAT WILL BENEFIT THEM ON AND OFF THE ATHLETIC FIELD. THIS FINANCIAL SUPPORT ENSURES ATHLETES CAN COVER CLUB FEES, TRAVEL EXPENSES, TOURNAMENT COSTS, AND EQUIPMENT COSTS. SCHOLARSHIPS RANGE FROM 300 TO 2,500, AND ARE AWARDED ON A SLIDING SCALE BASED ON A FAMILY'S HOUSEHOLD INCOME AS A PERCENTAGE OF THE FEDERAL POVERTY LINE, SEEKING TO COVER 50% OF THE OVERALL COST TO PARTICIPATE ANNUALLY IN EACH ATHLETE'S PRIMARY SPORT. AS CHILDREN GET OLDER, SCHOLARSHIP AMOUNTS GO UP SIGNIFICANTLY SINCE THEIR COST TO PARTICIPATE GOES UP AS COMPETITION LEVEL INCREASES, PARTICULARLY THE TRAVEL COSTS. CHANCE SPORTS CURRENTLY SUPPORTS 200 ATHLETES PARTICIPATING ACROSS EIGHT SPORTS IN THIRTEEN PARTNER CLUBS AND EXPECTS TO MORE THAN DOUBLE THOSE NUMBERS IN 2024. ELIGIBLE FAMILIES ARE THOSE THAT DEMONSTRATE FINANCIAL NEED WITH AN ANNUAL HOUSEHOLD INCOME AT OR BELOW 350% OF THE FEDERAL POVERTY LINE. ATHLETES FROM ANY AND ALL COUNTIES IN THE STATE ARE ELIGIBLE. 70% OF CURRENT SCHOLARSHIP RECIPIENTS ARE MALE AND 30% FEMALE AND THEY RANGE FROM AGE 8 THROUGH 18. AS CHANCE SPORTS ADDS MORE TEAMS AND SPORTS, ITS INTENTION IS TO HAVE A MORE EQUAL DISTRIBUTION OF FUNDING BY GENDER. CS ATHLETES BY ETHNICITY ARE 64% BLACK, 14% LATINO, 10% MULTI RACIAL, 9% CAUCASIAN, AND 3% OTHER. CURRENTLY, 60% OF CS ATHLETES RESIDE IN DENVER, 30% IN AURORA AND 10% IN SURROUNDING AREAS OF METRO DENVER THOUGH ATHLETES WITH FINANCIAL NEED ACROSS THE ENTIRE STATE OF COLORADO ARE ELIGIBLE, AND ENCOURAGED, TO APPLY FOR A SCHOLARSHIP. 95% OF CURRENT CS ATHLETES ATTEND PUBLIC OR CHARTER SCHOOLS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vickie Puchi Executive Di | Officer | 40 | $93,750 |
Colin Larson President | OfficerTrustee | 0.5 | $0 |
Jonathan Tee Secretary | OfficerTrustee | 0.5 | $0 |
Luke Ragland Treasurer | OfficerTrustee | 0.75 | $0 |
Aidah Clinton Board Member | Trustee | 0.5 | $0 |
Paul Crandall Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $121,435 |
| All other contributions, gifts, grants, and similar amounts not included above | $598,989 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $720,424 |
| Total Program Service Revenue | $0 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $720,424 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $203,106 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $93,750 |
| 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 | $95,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,908 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $74,411 |
| Advertising and promotion | $22,987 |
| Office expenses | $125 |
| Information technology | $6,873 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,056 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,877 |
| All other expenses | $30 |
| Total functional expenses | $523,673 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $268,891 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $78,891 |
| 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 | $32,015 |
| 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 | $379,797 |
| Accounts payable and accrued expenses | $6,417 |
| 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 | $6,417 |
| Net assets without donor restrictions | $373,380 |
| 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 | $379,797 |