United States Power Squadrons
- Assets
- $2.6m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 12
- Location
- Raleigh, NC
- Founding
- 03/1949
- Data as of
- 11/2023
- EIN
- 22-1487365
Organization Overview
United States Power Squadrons is located in Raleigh, NC. The organization was established in 1949. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 11/2023, United States Power Squadrons employed 12 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. United States Power Squadrons 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 11/2023, United States Power Squadrons generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $2.0m during the year ending 11/2023. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE RECREATIONAL BOATING SAFETY THROUGH EDUCATION AND CIVIC ACTIVITIES WHILE PROVIDING FELLOWSHIP FOR ITS MEMBERS.
Describe the Organization's Program Activity:
THE "ENSIGN" IS A PUBLICATION TO DISSEMINATE INFORMATION ABOUT BOATING & BOATING SAFETY.
EDUCATIONAL DEVELOPMENT AND PRODUCTION OF COURSE MATERIALS, BOATING INSTRUCTIONS, AND SAFETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Fraser Chief Commander | OfficerTrustee | 40 | $0 |
Mike Wiedel National Administrative Of | OfficerTrustee | 40 | $0 |
Charles Wells National Educational Offic | OfficerTrustee | 40 | $0 |
Ralph Bernard National Executive Officer | OfficerTrustee | 40 | $0 |
David Allen National Secretary | OfficerTrustee | 40 | $0 |
Shirley Heald National Treasurer | OfficerTrustee | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rm Agency Boat Live 365 Grant Development | 11/29/17 | $247,550 |
Lafferty Media Partners Co Marty Laffer Developing Video For Digital Media Libra | 11/29/17 | $183,250 |
Virtual Driver Interactive Trainers Software Hardware | 11/29/17 | $101,241 |
Rm Agency Boat Live 365 Grant Development | 11/29/17 | $247,550 |
Lafferty Media Partners Co Marty Laffer Developing Video For Digital Media Libra | 11/29/17 | $183,250 |
Virtual Driver Interactive Trainers Software Hardware | 11/29/17 | $101,241 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $589,030 |
| Fundraising events | $0 |
| Related organizations | $211,371 |
| Government grants | $318,984 |
| All other contributions, gifts, grants, and similar amounts not included above | $105,112 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,224,497 |
| Total Program Service Revenue | $182,807 |
| Investment income | $39,391 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,944 |
| Net Gain/Loss on Asset Sales | $30,802 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $236,478 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,755,718 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $741,343 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,494 |
| Payroll taxes | $53,502 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,725 |
| Fees for services: Accounting | $44,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,964 |
| Fees for services: Other | $389,472 |
| Advertising and promotion | $6,921 |
| Office expenses | $100,315 |
| Information technology | $58,795 |
| Royalties | $0 |
| Occupancy | $59,642 |
| Travel | $48,441 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $119,337 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,116 |
| Insurance | $184,518 |
| All other expenses | $7,543 |
| Total functional expenses | $1,959,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,180 |
| Savings and temporary cash investments | $732,083 |
| Pledges and grants receivable | $374,372 |
| Accounts receivable, net | $21,460 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $209,978 |
| Prepaid expenses and deferred charges | $59,040 |
| Net Land, buildings, and equipment | $251,972 |
| Investments—publicly traded securities | $771,736 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,147 |
| Total assets | $2,569,968 |
| Accounts payable and accrued expenses | $109,374 |
| Grants payable | $0 |
| Deferred revenue | $341,826 |
| 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 | $451,200 |
| Net assets without donor restrictions | $1,823,480 |
| Net assets with donor restrictions | $295,288 |
| 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 | $2,569,968 |