Virginia Polo Inc
- Assets
- $8.5m
- Revenue
- $303.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Charlottesville, VA
- Founding
- 06/1991
- Data as of
- 12/2020
- EIN
- 54-1569671
Organization Overview
Virginia Polo Inc is located in Charlottesville, VA. The organization was established in 1991. 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 12/2021, Virginia Polo Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Polo 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 12/2020, Virginia Polo Inc generated $303.9k 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 (7.9%) each year. All expenses for the organization totaled $428.3k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
INTERCOLLEGIATE POLO PROGRAM AT THE UNIVERSITY OF VIRGINIA BENEFITTING PARTICIPATING STUDENTS AND THE UNIVERSITY COMMUNITY, AS WELL AS THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INTERCOLLEGIATE POLO PROGRAM AT THE UNIVERSITY OF VIRGINIA BENEFITS PARTICIPATING STUDENTS AND THE UNIVERSITY COMMUNITY, AS WELL AS THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Walsh Secretary | OfficerTrustee | 2 | $0 |
Strother Scott Jr Treasurer | OfficerTrustee | 2 | $0 |
Karen Manning President | OfficerTrustee | 2 | $0 |
Kris Wooten Chairman | OfficerTrustee | 2 | $0 |
Nicholas Barry Director | Trustee | 2 | $0 |
Aleco Bravo Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $300,938 |
| Investment income | $281 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$114,028 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $303,882 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $102,912 |
| 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 | $47,070 |
| Fees for services: Other | $1,196 |
| Advertising and promotion | $0 |
| Office expenses | $1,358 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $477 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $892 |
| Interest | $52 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,174 |
| Insurance | $26,346 |
| All other expenses | $0 |
| Total functional expenses | $428,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,961 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,472,222 |
| Total assets | $8,531,526 |
| Accounts payable and accrued expenses | $0 |
| 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 | $20,833 |
| Total liabilities | $20,833 |
| 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 |
| Total liabilities and net assets/fund balances | $8,510,693 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Virginia Polo Inc has recieved totaling $18,861.
| Awarding Organization | Amount |
|---|---|
United States Polo Association Wellington, FL PURPOSE: CLUB AND MEMBERSHIP DEVELOPMENT | $18,861 |
Endowment Analysis
| Beg. Balance | $7,392,009 |
| Earnings | $1,998,357 |
| Admin Expense | $59,011 |
| Net Contributions | $32,941 |
| Other Expense | $144,318 |
| Ending Balance | $9,219,978 |
Peer Organizations
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|---|---|---|
Alpha Omicron Pi Fraternity Inc Brentwood, TN | $92,549,328 | $43,130,066 |
Delta Sigma Theta Sorority Inc Washington, DC | $59,604,954 | $43,935,038 |
Army Navy Country Club Arlington, VA | $99,356,910 | $42,965,360 |
Country Club Of Virginia Inc Richmond, VA | $91,534,297 | $40,685,067 |
Congressional Country Club Inc Bethesda, MD | $78,316,209 | $29,100,314 |
Chevy Chase Club Inc Chevy Chase, MD | $66,940,188 | $32,070,138 |
Carmel Country Club Inc Charlotte, NC | $56,143,554 | $23,347,186 |
Woodmont Country Club Rockville, MD | $56,166,542 | $22,075,767 |
Baltimore Country Club Of Baltimore City Baltimore, MD | $35,586,521 | $23,737,459 |
Farmington Country Club Inc Charlottesville, VA | $52,436,644 | $25,257,129 |
Columbia Country Club Chevy Chase, MD | $51,891,404 | $22,067,092 |
Washington Golf And Country Club Inc Arlington, VA | $48,455,931 | $21,067,505 |