Usa Water Ski & Wake Sports Foundation Inc
- Assets
- $2.9m
- Revenue
- $349.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Winter Haven, FL
- Founding
- 05/1969
- Data as of
- 12/2021
- EIN
- 94-1684694
Organization Overview
Usa Water Ski & Wake Sports Foundation Inc, operating under the name Formerly Amer Water Ski Ed Fd Inc, is located in Winter Haven, FL. The organization was established in 1969. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Formerly Amer Water Ski Ed Fd 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, Formerly Amer Water Ski Ed Fd Inc generated $349.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $184.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.4%) per year over the past 7 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
ENCOURAGE AND EDUCATE THE PUBLIC ABOUT HISTORY AND SAFETY OF WATER SPORTS. PROMOTE EDUCATION THROUGH SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUILDINGS, DISPLAYS AND MUSEUM WITH HALL OF FAME. OPEN TO THE PUBLIC
SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Huston Vice Preside | OfficerTrustee | 10 | $0 |
Kimberly Laskoff Secretary | OfficerTrustee | 10 | $0 |
Mark Overbye Chairman | OfficerTrustee | 10 | $0 |
Ed Hickey President | OfficerTrustee | 10 | $0 |
Dennis Longo Treasurer | OfficerTrustee | 10 | $0 |
Jeff Clark Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $32,490 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $222,010 |
| 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 | $254,500 |
| Total Program Service Revenue | $0 |
| Investment income | $2,083 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $78,553 |
| Net Gain/Loss on Asset Sales | $7,870 |
| Net Income from Fundraising Events | $6,856 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $349,862 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,437 |
| Fees for services: Accounting | $9,790 |
| 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 | $70,062 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,310 |
| Insurance | $4,449 |
| All other expenses | $990 |
| Total functional expenses | $184,256 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,035 |
| Savings and temporary cash investments | $131,253 |
| 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 |
| Net Land, buildings, and equipment | $2,601,420 |
| Investments—publicly traded securities | $147,318 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,927,026 |
| Accounts payable and accrued expenses | $8,440 |
| 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 | $106,437 |
| Secured mortgages and notes payable | $1,118,206 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,177 |
| Total liabilities | $1,234,260 |
| Net assets without donor restrictions | $1,435,256 |
| Net assets with donor restrictions | $257,510 |
| 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 | $2,927,026 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Usa Water Ski & Wake Sports Foundation Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
United Way Of Central Florida Inc Highland City, FL PURPOSE: Donor Designated for Disaster/ Emergency Relief | $15,000 |
Endowment Analysis
| Beg. Balance | $102,525 |
| Earnings | -$10,239 |
| Grants | $33,100 |
| Ending Balance | $59,186 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Palm Beach Maritime Museum Inc Lantana, FL | $20,865,906 | $12,542,003 |
Barber Vintage Motorsports Museum Birmingham, AL | $96,854,317 | $20,184,084 |
National Center For Civil And Humanrights Inc Atlanta, GA | $28,909,465 | $12,210,926 |
Atlanta Hall Management Inc Atlanta, GA | $34,614,233 | $3,372,998 |
Naval Aviation Museum Foundation Inc Pensacola, FL | $33,055,724 | $12,296,659 |
Cook Museum Of Natural Science Decatur, AL | $31,863,685 | $9,083,410 |
Sun N Fun Fly In Inc Lakeland, FL | $10,303,437 | $7,398,461 |
Museum Of Science & History Of Jacksonville Inc Jacksonville, FL | $14,983,828 | $9,624,822 |
Museum Of Arts & Sciences Daytona Beach, FL | $83,635,410 | $4,243,163 |
Georgia Museums Inc Cartersville, GA | $34,504,271 | $6,701,117 |
Museum Of Science And Industry Inc Tampa, FL | $2,652,725 | $2,773,775 |
Museum Of Aviation At Robins Air Force Base Georgia Foundation Inc Warner Robins, GA | $2,983,793 | $2,917,153 |