World Boxing Organization Inc
- Assets
- $3.0m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 4
- Location
- San Juan, PR
- Founding
- 06/1990
- Data as of
- 08/2022
- EIN
- 66-0521870
Organization Overview
World Boxing Organization Inc is located in San Juan, PR. The organization was established in 1990. 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 08/2022, World Boxing Organization Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. World Boxing Organization Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 08/2022, World Boxing Organization Inc generated $2.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $1.1m during the year ending 08/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE DEVELOPMENT OF PROFESSIONAL BOXING AROUND THE WORLD AS AN EDUCATIONAL ACTIVITY THAT CONTRIBUTES TO FORMING OF CHARACTERS OF ATHLETES THAT ARE DEDICATED TO SUCH DISCIPLINES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PERFORMS RECURRING ACTIVITIES TO MONITOR RULES, REGULATIONS, SUPERVISE BOXING BOUTS AND RANKS. WORLD SUPPORT TO KEEP KIDS OUT OF DRUGS WITH OUR WBO KIDS DRUG FREE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francisco Valcarcel President | Officer | 40 | $89,600 |
Leon Panoncillo VP Asia Pacific | Trustee | 0 | $0 |
Jorge Molina Latino/south America | Trustee | 0 | $0 |
Luis Batista Chairman | Trustee | 0 | $0 |
John Duggan First VP | Trustee | 0 | $0 |
Erno Labega 2nd VP | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $33,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,700 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $2,099,484 |
| 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. | $184,900 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $14,871 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $55,870 |
| Fees for services: Accounting | $45,009 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $123,509 |
| Advertising and promotion | $23,782 |
| Office expenses | $41,252 |
| Information technology | $22,713 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $110,651 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $112,966 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,500 |
| Insurance | $63,837 |
| All other expenses | $156,578 |
| Total functional expenses | $1,140,264 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,648,888 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $250,000 |
| 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 | $11,557 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $91,592 |
| Total assets | $3,002,037 |
| Accounts payable and accrued expenses | $461,905 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $151,079 |
| 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 | $612,984 |
| Net assets without donor restrictions | $2,389,053 |
| 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 | $3,002,037 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ponce Medical School Foundation Inc Ponce, PR | $11,600,859 | $25,661,618 |
Liga Puertorriquena Contra El Cancer San Juan, PR | $38,669,713 | $26,629,150 |
Universidad Central Del Caribe Inc Bayamon, PR | $35,289,249 | $27,377,681 |
Cooperativa De Ahorro Y Credito Oriental Humacao, PR | $433,041,205 | $23,460,952 |
Centros Sor Isolina Ferre Inc Ponce, PR | $22,315,489 | $16,849,878 |
Corp Serv Med Prim Y Prev De Hatillo Hatillo, PR | $36,236,018 | $21,541,946 |
Caribbean University Bayamon, PR | $48,412,485 | $17,932,008 |
Puerto Rico Legal Services Incorporated San Juan, PR | $18,895,657 | $19,069,485 |
Boys & Girls Clubs Of Puerto Rico Inc Carolina, PR | $20,563,847 | $15,690,113 |
Baldwin School Of Puerto Rico Inc Bayamon, PR | $21,469,124 | $15,474,261 |
Cooperative De Ahorro Y Credito De Barranquitas Barranquitas, PR | $321,931,771 | $17,940,942 |
Alianza Municipal De Servicios Caguas, PR | $4,966,942 | $12,673,262 |