Spokane Hoopfest Association
- Assets
- $2.4m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 33
- Location
- Spokane, WA
- Founding
- 01/1995
- Data as of
- 09/2023
- EIN
- 91-1505510
Organization Overview
Spokane Hoopfest Association is located in Spokane, WA. The organization was established in 1995. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2023, Spokane Hoopfest Association employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spokane Hoopfest Association 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 09/2023, Spokane Hoopfest Association generated $2.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $2.5m during the year ending 09/2023. While expenses have increased by 4.7% 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 2015, Spokane Hoopfest Association has awarded 18 individual grants totaling $412,595. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE STRIVE TO INSPIRE, CONNECT, AND GROW BASKETBALL IN THE GREATER SPOKANE COMMUNITY BY OFFERING THE BEST AND MOST INCLUSIVE BASKETBALL EXPERIENCES ON EARTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOOPFEST WEEKEND BASKETBALL TOURNAMENT - THE TOURNAMENT WAS HELD IN 2023 WITH APPROXIMATELY 4,200 TEAMS, AN INCREASE OF ABOUT 700 TEAMS FROM 2022
OTHER BASKETBALL RELATED PROGRAMS RELATED TO OPERATING AN AAU LEAGUE, SPOKANE BASKETBALL HALL OF FAME, FITZ HIGH SCHOOL TOURNAMENT AND OTHER BASKETBALL RELATED EVENTS. THE COSTS OF THESE EVENTS ARE LARGELY SUPPORTED BY SPONSORSHIPS AND DONATIONS
HYL BASKETBALL LEAGUE - WAS ESTABLISHED IN APPROXIMATELY 20 SCHOOL DISTRICTS AND OPERATED BY HYL LLC, A WHOLLY OWNED SUBSIDIARY OF SPOKANE HOOPFEST. THE LEAGUE OPERATED FROM OCTOBER THROUGH JANUARY AND SERVED ABOUT 3,200 CHILDREN.
YOUTH BASKETBALL TOURNAMENTS WERE HELD IN NOVEMBER, DECEMBER, JANUARY AND FEBRUARY SERVING APPROXIMATELY 242 TEAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Riley Stockton Executive Director | Officer | 40 | $117,000 |
Rick Betts Past Chair | OfficerTrustee | 10 | $0 |
Hubert Langenhorst Treasurer | OfficerTrustee | 2 | $0 |
Danny Beard Director | Trustee | 2 | $0 |
Tom Psomas Director | Trustee | 2 | $0 |
Rob Hartman Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $36 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,352,239 |
| Noncash contributions included in lines 1a–1f | $20,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,352,275 |
| Total Program Service Revenue | $1,051,898 |
| Investment income | $38,510 |
| 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 | $134,693 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,778,844 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $188,585 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $117,000 |
| Compensation of current officers, directors, key employees. | $23,400 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $456,055 |
| Pension plan accruals and contributions | $9,088 |
| Other employee benefits | $21,269 |
| Payroll taxes | $48,603 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,562 |
| 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 | $0 |
| Advertising and promotion | $21,517 |
| Office expenses | $63,880 |
| Information technology | $96,167 |
| Royalties | $0 |
| Occupancy | $149,017 |
| Travel | $20,974 |
| 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 | $0 |
| Insurance | $46,925 |
| All other expenses | $1,248,066 |
| Total functional expenses | $2,507,708 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $467,187 |
| Savings and temporary cash investments | $1,610,563 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,127 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $195,625 |
| Prepaid expenses and deferred charges | $155,491 |
| 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 | $2,436,993 |
| Accounts payable and accrued expenses | $102,122 |
| Grants payable | $0 |
| Deferred revenue | $493,977 |
| 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 | $163,491 |
| Total liabilities | $759,590 |
| Net assets without donor restrictions | $0 |
| 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 | $1,677,403 |
| Total liabilities and net assets/fund balances | $2,436,993 |
Grants Awarded
Over the last fiscal year, Spokane Hoopfest Association has awarded $62,376 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SPOKANE PARK DEPARTMENT PURPOSE: Funding related to completion of the Hooptown Hall of Fame and maintenance of the Riverfront court complex, and other park community basketball courts | $32,376 |
SPECIAL OLYMPICS OF WASHINGTON PURPOSE: To fund Special Olympics sports programs | $30,000 |