Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: GAME REVENUE

  total $3,983,893 · related or exempt $3,983,893

• 2b · Program service revenue: EVENT REVENUE

  total $1,249,894 · excluded $1,249,894

• 2c · Program service revenue: ADVERTISING

  total $15,000 · unrelated business $15,000

• 2d · Program service revenue: ACKNOWLEDGMENTS

  total $2,500 · related or exempt $2,500

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $142,723 · program services $87,346 · management and general $55,377

• 7 · Other salaries and wages

  total $460,175 · program services $283,515 · management and general $176,660

• 8 · Pension plan contributions

  total $22,427 · program services $13,725 · management and general $8,702

• 9 · Other employee benefits

  total $64,422 · program services $39,426 · management and general $24,996

• 10 · Payroll taxes

  total $39,008 · program services $23,873 · management and general $15,135

• 12 · Advertising and promotion

  total $145,450 · program services $145,450

• 13 · Office expenses

  total $16,029 · program services $16,029

• 14 · Information technology

  total $29,844 · program services $29,844

• 17 · Travel

  total $23,159 · program services $23,159

• 19 · Conferences, conventions and meetings

  total $18,712 · program services $18,712

• 22 · Depreciation, depletion and amortization

  total $54,082 · program services $33,098 · management and general $20,984

• 24a · Other expenses: UBIT

  total $1,535 · program services $1,535

• 24b · Other expenses: GAME EXPENSES

  total $2,691,132 · program services $2,646,142 · management and general $44,990

• 24c · Other expenses: ASF OVERHEAD ALLOCATION

  total $398,351 · program services $243,791 · management and general $154,560

• 24d · Other expenses: GAME PROMOTIONS & HOSPI

  total $71,045 · program services $71,045

• 24e · All other expenses

  total $15,679 · program services $15,579 · management and general $100

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $51,946 · end of year $17,973

• 4 · Accounts receivable

  beginning of year $32,876 · end of year $728,118

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,281 · end of year $1,688

• 10a · Land, buildings and equipment: cost or other basis

  $36,035

• 10b · Land, buildings and equipment: accumulated depreciation

  $36,035

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $249,809 · end of year $1,578,764

• 19 · Deferred revenue

  beginning of year $7,950 · end of year $50

• 25 · Other liabilities

  beginning of year $15,710,195 · end of year $13,991,302

• 27 · Net assets without donor restrictions

  beginning of year -$15,879,851 · end of year -$14,822,337

The filer's explanations (Part III)

PART I, LINE 3

THE ARIZONA SPORTS FOUNDATION DETERMINED COMPENSATION OF THE FORMER EXECUTIVE DIRECTOR USING A COMPENSATION COMMITTEE, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY BOARD OR COMPENSATION COMMITTEE.

PART I, LINE 4B

ASF PAID A SEVERANCE TO MICHAEL NEALY IN THE AMOUNT OF $129,807 AND TO JOSE MORENO IN THE AMOUNT OF $159,296, INCLUDED IN COLUMN B(III) IN PART II, DURING THE TAX YEAR. ALL AMOUNTS WERE INCLUDED IN TAXABLE WAGES FOR THE APPROPRIATE CALENDAR YEAR. THE ARIZONA SPORTS FOUNDATION, RELATED ORGANIZATION, PROVIDES A SPLIT DOLLAR LIFE INSURANCE PLAN TO ITS FORMER EXECUTIVE DIRECTOR, MICHAEL NEALY. NO CASH PAYMENTS WERE MADE TO MICHAEL NEALY UNDER THIS PLAN DURING THE REPORTING YEAR.

PART I, LINE 5

THE ARIZONA SPORTS FOUNDATION, RELATED ORGANIZATION, HAS A FORMAL BONUS PLAN BASED UPON ORGANIZATIONAL AND INDIVIDUAL GOALS. THESE GOALS MAY INCLUDE RESULTS CONTINGENT ON REVENUE OR NET INCOME OF THE ARIZONA SPORTS FOUNDATION AND RELATED ORGANIZATIONS. BONUSES ARE APPROVED BY THE BOARD OF DIRECTORS PRIOR TO PAYMENT.

PART I, LINE 6

THE ARIZONA SPORTS FOUNDATION, RELATED ORGANIZATION, HAS A FORMAL BONUS PLAN BASED UPON ORGANIZATIONAL AND INDIVIDUAL GOALS. THESE GOALS MAY INCLUDE RESULTS CONTINGENT ON REVENUE OR NET INCOME OF THE ARIZONA SPORTS FOUNDATION AND RELATED ORGANIZATIONS. BONUSES ARE APPROVED BY THE BOARD OF DIRECTORS PRIOR TO PAYMENT.

SCHEDULE J, PART II

FOR PAYROLL TAX PURPOSES, THE ARIZONA SPORTS FOUNDATION (ASF) PAYS ALL EMPLOYEES OF ASF AND ITS RELATED ORGANIZATIONS: VALLEY OF THE SUN BOWL FOUNDATION, FIESTA EVENTS, INC. AND THE ARIZONA COLLEGE FOOTBALL CHAMPIONSHIP FOUNDATION. ALLOCATIONS OF OFFICER, KEY EMPLOYEE AND STAFF COMPENSATION ARE MADE IN ACCORDANCE WITH THE EMPLOYEES' AVERAGE TIME DEVOTED TO EACH OF THE ORGANIZATIONS.