National Rowing Foundation Inc
- Assets
- $8.8m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Melrose, MA
- Founding
- 03/1966
- Data as of
- 12/2021
- EIN
- 13-2554312
Organization Overview
National Rowing Foundation Inc is located in Melrose, MA. The organization was established in 1966. According to its NTEE Classification (N11) the organization is classified as: Single Organization Support, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, National Rowing Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Rowing Foundation Inc 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 12/2021, National Rowing Foundation Inc generated $2.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $2.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by 0.0% 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
THE NATIONAL ROWING FOUNDATION'S PRIMARY MISSION IS TO SUPPORT ATHLETES IN PURSUIT OF EXCELLENCE IN THE SPORT OF ROWING WITH THE GOAL OF PROMOTING USA ATHLETES' PARTICIPATION IN WORLD AND OLYMPIC INTERNATIONAL COMPETITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRANSPORTATION AND LODGING EXPENSES FOR US ROWING TEAMS FOR NATIONAL AND INTERNATIONAL CHAMPIONSHIP EVENTS. THESE EXPENSES ALSO INCLUDE THE PURCHASE OF ROWING EQUIPMENT FOR TRAINING AND COMPETITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracy Brown Executive Dir. | Officer | 40 | $17,500 |
Tom Martin Treasurer | Officer | 5 | $15,000 |
Michael Meehan President | OfficerTrustee | 5 | $0 |
Michael Heitner Secretary | Officer | 5 | $0 |
James Koven Co-Chair | Trustee | 5 | $0 |
Additional Directors Attached Director | Trustee | 1 | $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 | $1,502,428 |
| Noncash contributions included in lines 1a–1f | $179,358 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,502,428 |
| Total Program Service Revenue | $0 |
| Investment income | $317,798 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $418,803 |
| Net Income from Fundraising Events | -$13,941 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,225,088 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,575,073 |
| 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. | $32,500 |
| Compensation of current officers, directors, key employees. | $15,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,222 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,306 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,540 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,783 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,669 |
| Office expenses | $20,270 |
| Information technology | $34,132 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,177 |
| 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 | $908 |
| Insurance | $3,817 |
| All other expenses | $0 |
| Total functional expenses | $1,988,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $556,976 |
| Pledges and grants receivable | $7,408 |
| 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 | $8,245,007 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,809,391 |
| Accounts payable and accrued expenses | $8,358 |
| Grants payable | $277,018 |
| 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 | $285,376 |
| Net assets without donor restrictions | $3,591,332 |
| Net assets with donor restrictions | $4,932,683 |
| 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 | $8,809,391 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that National Rowing Foundation Inc has recieved totaling $76,867.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $29,600 |
Bedford Family Charitable Trust New Hartford, CT PURPOSE: GENERAL CONTRIBUTION | $22,500 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $10,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $7,450 |
Robert Zagunis Family Foundation Lake Oswego, OR PURPOSE: SUPPORT | $5,000 |
Anne R & R Harper Brown Foundation Savannah, GA PURPOSE: GENERAL FUND | $1,500 |
Endowment Analysis
| Beg. Balance | $7,588,309 |
| Earnings | $902,538 |
| Admin Expense | $30,783 |
| Net Contributions | $12,138 |
| Other Expense | $227,634 |
| Ending Balance | $8,244,568 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Randalls Island Park Alliance Inc New York, NY | $13,239,437 | $9,404,674 |
Tr Park Place Corp Hartford, CT | $326,580 | $4,534,377 |
Army West Point Athletic Association Inc West Point, NY | $11,945,742 | $9,719,506 |
Westchester Parks Foundation Inc Mount Kisco, NY | $3,736,356 | $3,829,268 |
Green Mountain Club Inc Waterbury Center, VT | $15,141,741 | $4,420,217 |
National Rowing Foundation Inc Melrose, MA | $8,809,391 | $2,225,088 |
Mary A Cunningham Trust Milton, MA | $13,931,409 | $2,252,431 |
United States Sailing Foundaton Bristol, RI | $2,170,181 | $586,414 |
Untermyer Gardens Conservancy Yonkers, NY | $2,212,891 | $1,837,409 |
Camp Dudley Foundation Inc Westport, NY | $16,516,671 | $1,683,317 |
Beaverdale Memorial Park Inc New Haven, CT | $1,525,229 | $1,030,865 |
Van Cortlandt Park Alliance Inc Bronx, NY | $375,569 | $748,770 |