Usa Water Ski & Wake Sports Inc
- Assets
- $1.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 8
- Location
- Auburndale, FL
- Founding
- 06/1990
- Data as of
- 12/2021
- EIN
- 59-0841458
Organization Overview
Usa Water Ski & Wake Sports Inc is located in Auburndale, FL. The organization was established in 1990. 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 12/2021, USA Water Ski & Wake Sports Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. USA Water Ski & Wake Sports 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, USA Water Ski & Wake Sports Inc generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE, SUPPORT AND SERVICE THE SPORT OF WATER SKIING AND ALL TOWED WATER SPORTS.
Describe the Organization's Program Activity:
MEMBERSHIP - PROVIDES MEMBERS ACCESS TO SANCTIONED TOURNAMENTS AND EVENTS, INSTRUCTIONAL ASSISTANCE, AND INSURANCE PROTECTION.
SPORT DEVELOPMENT PROGRAMS- TO PROVIDE MATERIALS AND TO ESTABLISH CRITERIA TO MEMBERS FOR WATER SKIER CLINICS FOR BETTER TRAINING AND SAFETY INSTRUCTION AND TO PROVIDE GRASSROOTS MATERIALS & INSTRUCTION TO CERTIFY INSTRUCTORS IN THE DEVELOPMENT OF THE SPORT. GRANTS ARE DISTRIBUTED TO SPORT DISCIPLINES FOR WATER SKIING DEVELOPMENT.
NATIONAL TOURNAMENTS AND COMPETITIONS - COMPETITIONS TO PROMOTE WATER SKIING AND WATER SKIING DEVELOPMENT.
PUBLICATION - INCLUDES THE PUBLICATION OF A MAGAZINE, THE WATER SKIER, WHICH IS SENT TO ALL MEMBERS AND OTHER PERSONS WITH INTEREST IN THE SPORT, AND NUMEROUS EDUCATIONAL MATERIALS ADDRESSING ALL ASPECTS OF WATER SKIING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathan Boudreaux Executive Director | Officer | 40 | $132,667 |
Joel Johanningmeier Secretary/treasurer | OfficerTrustee | 2 | $0 |
Doug Robbins Chair | OfficerTrustee | 2 | $0 |
Robert Archambeau Member President Beg 2/21 | OfficerTrustee | 2 | $0 |
Tim Cullen President Thru 1/21 | Officer | 2 | $0 |
Robert Rhyne Secretary/treasurer Thru 1/21 | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $212,824 |
| All other contributions, gifts, grants, and similar amounts not included above | $101,975 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $314,799 |
| Total Program Service Revenue | $1,456,525 |
| Investment income | $6,619 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $189 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $32,954 |
| Net Income from Fundraising Events | $2,963 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $11,318 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,825,367 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,760 |
| Grants and other assistance to domestic individuals. | $24,250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $140,777 |
| Compensation of current officers, directors, key employees. | $39,418 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $286,806 |
| Pension plan accruals and contributions | $9,670 |
| Other employee benefits | $39,235 |
| Payroll taxes | $30,231 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,625 |
| Fees for services: Accounting | $34,944 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,093 |
| Fees for services: Other | $4,862 |
| Advertising and promotion | $889 |
| Office expenses | $56,501 |
| Information technology | $65,289 |
| Royalties | $0 |
| Occupancy | $6,543 |
| Travel | $8,715 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,663 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,483 |
| Insurance | $337,020 |
| All other expenses | $77,716 |
| Total functional expenses | $1,449,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $556,946 |
| Savings and temporary cash investments | $385,520 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,241 |
| 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 | $10,572 |
| Net Land, buildings, and equipment | $1,296 |
| Investments—publicly traded securities | $481,246 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,442,821 |
| Accounts payable and accrued expenses | $59,904 |
| Grants payable | $0 |
| Deferred revenue | $595,075 |
| 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 | $654,979 |
| Net assets without donor restrictions | $753,870 |
| Net assets with donor restrictions | $33,972 |
| 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 | $1,442,821 |
Grants Awarded
Over the last fiscal year, Usa Water Ski & Wake Sports Inc has awarded $25,059 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Polk City, FL PURPOSE: SUPPORT SPORT OF WATER SKI | $19,887 |
Hanover, MN PURPOSE: SUPPORT SPORT OF WATER SKI | $5,172 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Usa Water Ski & Wake Sports Inc has recieved totaling $120,347.
| Awarding Organization | Amount |
|---|---|
United States Olympic & Paralympic Committee Colorado Springs, CO PURPOSE: OLYMPIC/PARALYMPIC SUPPORT | $108,347 |
Womens Sports Foundation New York, NY PURPOSE: Sports 4 Life Program | $7,000 |
Collinson Fam Foundation Peachtree Corners, GA PURPOSE: UNRESTRICTED | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Circle Square Foundation Ocala, FL | $124,141,413 | $8,724,488 |
United States Masters Swimming Inc Sarasota, FL | $7,327,632 | $3,454,621 |
Usa Water Ski & Wake Sports Inc Auburndale, FL | $1,442,821 | $1,825,367 |
Usa Swimming Inc Minneola, FL | $982,345 | $1,492,508 |
Sarasota Crew Inc Osprey, FL | $3,089,613 | $2,511,291 |
Water Sports Foundation Inc Orlando, FL | $355,212 | $1,138,831 |
Huntsville Swim Association Huntsville, AL | $601,008 | $1,169,266 |
Sarasota Sharks Incorporated Sarasota, FL | $1,254,329 | $1,187,905 |
Athens Bulldog Swim Club Inc Hull, GA | $405,540 | $725,242 |
Palm Beach Sailing Club Inc West Palm Beach, FL | $1,088,323 | $782,714 |
Coconut Grove Sailing Club Instructional Center Inc Miami, FL | $284,549 | $710,117 |
Sarasota Sailing Squadron Inc Sarasota, FL | $2,108,235 | $790,673 |