Dad Vail Regatta Organizing Committee
- Assets
- $259.7k
- Revenue
- $161.0k
- Investments
- $106.2k
- Employees
- 1
- Location
- Devon, PA
- Founding
- 05/1991
- Data as of
- 06/2021
- EIN
- 23-2640369
Organization Overview
Dad Vail Regatta Organizing Committee is located in Devon, PA. The organization was established in 1991. 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. Dad Vail Regatta Organizing Committee 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 06/2021, Dad Vail Regatta Organizing Committee generated $161.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.9%) each year. All expenses for the organization totaled $227.3k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (12.1%) per year over the past 6 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
- TO STIMULATE AND FOSTER INTEREST IN THE SPORT OF ROWING AMONG INDIVIDUALS AND COLLEGES, UNIVERSITIES AND SCHOOLS.- TO PUBLICIZE THE MANIFOLD ADVANTAGES OF ROWING AS A MEANS OF HEALTHY AND PHYSICAL DEVELOPMENT- TO UPHOLD THE PRINCIPLES AND STANDARDS OF AMATEUR RULE AND EQUAL OPPORTUNITY TO COMPETE.- TO FOSTER THE EDUCATION OF STUDENTS IN THE SPORT OF ROWING- TO PROMOTE INTEREST THROUGH COMPETITION AND THE HOLDING OF REGATTAS.- TO HOLD AN ANNUAL REGATTA FOR ALL QUALIFIED COLLEGES AND UNIVERSITIES.- TO PROMOTE SUCCESSFUL COMPETITIONS BY AMERICAN ROWERS IN INTERNATIONAL EVENTS INCLUDING BUT NOT LIMITED TO THE OLYMPICS, THE WORLD CHAMPIONSHIP AND THE PAN AMERICAN GAMES.- TO USE EVERY REASONABLE ENDEAVOR FOR THE ADVANCEMENT AND UPBUILDING OF COLLEGIATE ROWING IN ACCORDANCE WITH THE BEST TRADITIONS OF SPORTSMANSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRINCIPAL PROGRAM SERVICE ACTIVITIES (SEE FORM 990, PAGE 10, PART IX, LINE 25) ARE:(1) CORPORATE OPERATIONS- REQUIRED FOR YEAR OVER YEAR CONTINUITY TO ACHIEVE DVROC MISSION OBJECTIVES AND PURPOSES.(2) REGATTA PREPARATION - ACTIVITIES REQUIRED TO PREPARE THE VENUE FOR COMPETITION AND FOR PRESENTING AN ENJOYABLE EXPERIENCE FOR ATHLETES, SPONSORS, AND SPECTATORS.(3) REGATTA COMPETITION - ACTIVITIES ASSOCIATED WITH REGISTERING COMPETITORS AND CONDUCTING COMPETITIVE RACING WITH SAFETY AND FAIRNESS TO ALL COMPETITORS.(4) COMMUNITY SUPPORT - ACTIVITIES ASSOCIATED WITH SUPPORTING THE METROPOLITAN PHILADELPHIA ROWING COMMUNITY.PRINCIPAL PROGRAM SERVICE ACTIVITIES ARE EXECUTED CONTINUALLY THROUGHOUT OUR FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Mccann Vice President | OfficerTrustee | 2 | $0 |
John F Leonard Regatta Secretary | OfficerTrustee | 2 | $0 |
Thomas G Delutis Treasurer | OfficerTrustee | 5.53 | $0 |
John R Galloway Chairman | OfficerTrustee | 1 | $0 |
Patricia A Winton Recording Secretary | OfficerTrustee | 0.5 | $0 |
Kevin F Backe Vice President | OfficerTrustee | 2 | $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 | $2,125 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,125 |
| Total Program Service Revenue | $162,388 |
| Investment income | $278 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,804 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $161,033 |
| 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 | $40,368 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | -$163,665 |
| Total functional expenses | $227,319 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,294 |
| Savings and temporary cash investments | $106,177 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,750 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,828 |
| Prepaid expenses and deferred charges | $1,845 |
| Net Land, buildings, and equipment | $5,242 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $106,202 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,372 |
| Total assets | $259,710 |
| Accounts payable and accrued expenses | $38,976 |
| 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 | $43,312 |
| Total liabilities | $82,288 |
| Net assets without donor restrictions | $177,422 |
| 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 | $259,710 |
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