United States Parachute Assoc Inc
- Assets
- $8.0m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 18
- Location
- Fredericksburg, VA
- Founding
- 04/1962
- Data as of
- 12/2022
- EIN
- 94-1508681
Organization Overview
United States Parachute Assoc Inc is located in Fredericksburg, VA. The organization was established in 1962. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, United States Parachute Assoc Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United States Parachute Assoc Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, United States Parachute Assoc Inc generated $4.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $3.8m during the year ending 12/2022. While expenses have increased by 1.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSES FOR WHICH USPA IS FORMED ARE AS FOLLOWS: TO ENCOURAGE UNITY AMONG ALL PERSONS INTERESTED IN SKYDIVING; TO PROMOTE SAFETY IN ALL SKYDIVING ACTIVITIES IN THE UNITED STATES, TO SANCTION SKYDIVING COMPETITIONS; TO DOCUMENT OFFICIALLY ALL NATIONAL AND WORLD SKYDIVING RECORDS SET BY CITIZENS OF THE U.S., TO PROMOTE AND ENCOURAGE THE STUDY AND KNOWLEDGE OF SKYDIVING AMONG THE MEMBERSHIP AND THE PUBLIC AT LARGE; TO COOPERATE WITH ALL GOVERNMENT AGENCIES CONNECTED WITH AERONAUTICS OR AERONAUTICAL ACTIVITIES; TO COMPILE INFORMATION REGARDING THE SCIENCE OF SKYDIVING AND TO EDIT, PUBLISH AND DISSEMINATE THE SAME; TO SELECT AND TRAIN THE UNITED STATES PARACHUTE TEAM FOR WORLD COMPETITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLICATIONS - USPA'S OFFICIAL PUBLICATION IS "PARACHUTIST", WHICH HAS BEEN PUBLISHED SINCE 1957. THIS MONTHLY MAGAZINE CONTAINS THE LATEST SAFETY INFORMATION AND ADVISORIES ON CHANGES IN FAA REGULATIONS AFFECTING SKYDIVERS; DISCUSSIONS AND ANALYSES OF SAFETY ISSUES, INCLUDING FACILITIES; NEWS OF ADVANCES IN EQUIPMENT AND TECHNIQUES; SERVICE ADVISORIES ON EQUIPMENT; AND STATE-OF-THE-ART INFORMATION ON TRAINING, MEETS AND RULES OF COMPETITION.
MEMBERSHIP SERVICES - EXPENDITURES ARE MADE FOR STAFF, DATA PROCESSING, AND MEMBERSHIP PRINTING COSTS, INCURRED TO PROVIDE MEMBERS WITH CARDS, RATINGS, LICENSES, AND AWARDS, ALL OF WHICH ENHANCE THE SAFETY OF THE SPORT. SKYDIVERS WHO BECOME MEMBERS OF USPA ARE TRACKED AS THEY PROGRESS THROUGH THE VARIOUS ACCOMPLISHMENT LEVELS. MANY SKYDIVING CENTERS REQUIRE JUMPERS TO HAVE A CURRENT USPA MEMBERSHIP AND AN "A" LICENSE. THIS ENSURES THAT THE MEMBER IS FAMILIAR WITH THE BASIC SAFETY REQUIREMENTS AND WILL TRY TO ADHERE TO THEM.
SAFETY AND TRAINING - USPA STAFF, WORKING WITH THE BOARDS' SAFETY AND TRAINING COMMITTEE, DEVELOP SAFETY STANDARDS AND PROMOTE COMPLIANCE WITH THOSE STANDARDS. USPA DEVELOPS COURSES THAT CERTIFY INSTRUCTORS WHO CAN THEN CONDUCT FIRST-JUMP COURSE TRAINING AND NOVICE TRAINING. THROUGH USPA'S MONTHLY PARACHUTIST MAGAZINE AND MONTHLY EMAIL, NEWSLETTERS, USPA SEEKS TO CONTINUOUSLY EDUCATE SKYDIVER'S ABOUT DEVELOPMENTS IN TECHNIQUES AND EQUIPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chuck Akers President | OfficerTrustee | 1 | $0 |
Sherry Butcher Vice President | OfficerTrustee | 1 | $0 |
Ray Lallo Secretary | OfficerTrustee | 2 | $0 |
Jack Pyland IV Treasurer | OfficerTrustee | 1 | $0 |
Luke Aikins Member At Large | OfficerTrustee | 1 | $0 |
Randy Allison Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kimmel Aviation Insurance Agency Inc Specialty Insurance For Skydiving Member | 12/30/22 | $257,170 |
Imlay Dba Printcinch Printing Management & Consulting | 12/30/22 | $382,643 |
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 | $30,519 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,519 |
| Total Program Service Revenue | $3,909,155 |
| Investment income | $141,909 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,959 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $124,742 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$6,518 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,208,527 |
| 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. | $234,092 |
| Compensation of current officers, directors, key employees. | $133,751 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,151,994 |
| Pension plan accruals and contributions | $50,469 |
| Other employee benefits | $167,862 |
| Payroll taxes | $102,144 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $62,217 |
| Fees for services: Accounting | $82,499 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $38,279 |
| Fees for services: Other | $251,177 |
| Advertising and promotion | $1,832 |
| Office expenses | $946,777 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $46,198 |
| Travel | $167,926 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,882 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $139,701 |
| Insurance | $233,520 |
| All other expenses | $0 |
| Total functional expenses | $3,753,438 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190 |
| Savings and temporary cash investments | $876,623 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,022 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,829 |
| Prepaid expenses and deferred charges | $10,694 |
| Net Land, buildings, and equipment | $1,165,254 |
| Investments—publicly traded securities | $5,705,908 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $79,087 |
| Other assets | $86,550 |
| Total assets | $7,972,157 |
| Accounts payable and accrued expenses | $249,769 |
| Grants payable | $50,000 |
| Deferred revenue | $1,511,519 |
| 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 | $23,060 |
| Total liabilities | $1,834,348 |
| Net assets without donor restrictions | $5,725,359 |
| Net assets with donor restrictions | $412,450 |
| 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 | $7,972,157 |