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Nonprofiteer
← UTAH ATHLETIC FOUNDATION

Form 990 for tax year 2022

Filed by UTAH ATHLETIC FOUNDATION.

Totals

Total revenue
$52,468,703
Total expenses
$33,167,193
Contributions and grants received
$26,887,664
Grants paid
$0
Program service revenue
$22,420,320
Investment income
$2,891,948
Other revenue
$268,771
Total assets, end of year
$153,243,563
Total liabilities, end of year
$25,577,323
Net assets or fund balances, end of year
$127,666,240
Program services expenses (Part IX)
$31,298,591
Management and general expenses
$1,805,633
Fundraising expenses
$62,969
Program service expenses (Part III)
$31,298,591

Program services were 94.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $126,000

  • 1f · All other contributions, gifts and grants

    $26,761,664

  • 2a · Program service revenue: PUBLIC PROGRAMS & ACTIVITIES

    total $10,056,253 · related or exempt $9,417,345 · unrelated business $638,908

  • 2b · Program service revenue: YOUTH SPORT PROGRAMS

    total $9,449,577 · related or exempt $9,449,577

  • 2c · Program service revenue: FACILITY OPERATIONS & TRAINING

    total $2,914,490 · related or exempt $2,914,490

  • 3 · Investment income

    total $868,136 · excluded $868,136

  • 7a · Gross sales of assets other than inventory

    securities $6,500,000

  • 7b · Less cost or other basis and sales expenses

    securities $4,178,980 · other assets $297,208

  • 7c · Gain or loss

    securities $2,321,020 · other assets -$297,208

  • 7d · Net gain or loss

    total $2,023,812 · related or exempt -$297,208 · excluded $2,321,020

  • 8a · Fundraising events: gross income

    $433,903

  • 8b · Fundraising events: direct expenses

    $165,132

  • 8c · Net income from fundraising events

    total $268,771 · excluded $268,771

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,883,942 · program services $1,736,344 · management and general $139,947 · fundraising $7,651

  • 7 · Other salaries and wages

    total $13,620,661 · program services $12,553,541 · management and general $1,011,802 · fundraising $55,318

  • 11g · Fees: other

    total $232,529 · program services $73,253 · management and general $159,276

  • 12 · Advertising and promotion

    total $312,592 · program services $312,592

  • 13 · Office expenses

    total $31,543 · program services $27,219 · management and general $4,324

  • 14 · Information technology

    total $343,439 · program services $3,137 · management and general $340,302

  • 16 · Occupancy

    total $3,049,320 · program services $3,049,320

  • 17 · Travel

    total $59,524 · program services $16,998 · management and general $42,526

  • 22 · Depreciation, depletion and amortization

    total $4,862,066 · program services $4,838,912 · management and general $23,154

  • 23 · Insurance

    total $1,760,348 · program services $1,760,348

  • 24a · Other expenses: OTHER PROGRAM COSTS

    total $1,836,053 · program services $1,836,053

  • 24b · Other expenses: SPORT EVENT COSTS

    total $1,714,865 · program services $1,714,865

  • 24c · Other expenses: MAINTENANCE & REPAIR CO

    total $1,169,587 · program services $1,169,587

  • 24d · Other expenses: BANK AND CREDIT CARD FE

    total $573,513 · program services $564,980 · management and general $8,533

  • 24e · All other expenses

    total $1,717,211 · program services $1,641,442 · management and general $75,769

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,652,000 · end of year $13,843,219

  • 2 · Savings and temporary cash investments

    beginning of year $5,029,907 · end of year $3,522,205

  • 4 · Accounts receivable

    beginning of year $1,232,438 · end of year $1,688,094

  • 8 · Inventories for sale or use

    beginning of year $95,503 · end of year $90,953

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,292,608 · end of year $1,371,804

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

    $162,117,966

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

    $80,697,090

  • 10c · Land, buildings and equipment, net

    beginning of year $69,883,332 · end of year $81,420,876

  • 11 · Investments: publicly traded securities

    beginning of year $53,207,156 · end of year $46,209,275

  • 15 · Other assets

    beginning of year $419,800 · end of year $5,097,137

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,401,193 · end of year $3,498,216

  • 19 · Deferred revenue

    beginning of year $1,558,768 · end of year $1,745,000

  • 20 · Tax-exempt bond liabilities

    beginning of year $16,015,889 · end of year $15,543,221

  • 25 · Other liabilities

    beginning of year $0 · end of year $4,790,886

  • 27 · Net assets without donor restrictions

    beginning of year $103,297,129 · end of year $111,203,989

  • 28 · Net assets with donor restrictions

    beginning of year $8,539,765 · end of year $16,462,251

Mission and programs · 2022

Mission

FOSTER DEVELOPMENT OF WINTER SPORTS IN UTAH AND MANAGE AND MAINTAIN THE UTAH OLYMPIC PARK, UTAH OLYMPIC OVAL AND SOLDIER HOLLOW NORDIC CENTER.

Activities or mission (Part I)

FOSTER DEVELOPMENT OF WINTER SPORTS IN UTAH AND MANAGE AND MAINTAIN THE UTAH OLYMPIC PARK, UTAH OLYMPIC OVAL AND SOLDIER HOLLOW NORDIC CENTER

  • FACILITY OPERATIONS AND EXTERNAL ATHLETE TRAINING: PRIMARY FACILITY ACHIEVEMENTS OF THE UTAH ATHLETIC FOUNDATION INCLUDE MAINTENANCE AND ENHANCEMENT OF THE UTAH OLYMPIC PARK, THE UTAH OLYMPIC OVAL, AND SOLDIER HOLLOW NORDIC CENTER, THE THREE TRAINING FACILITIES FOR THE OLYMPIC WINTER SPORTS OF FREESTYLE, BOBSLED, SKELETON, LUGE, FIGURE SKATING, SPEED SKATING, CURLING, HOCKEY AND NORDIC SKIING.

    Expenses $11,347,021 · Revenue $2,914,490

  • YOUTH SPORT PROGRAMS AND SPORT EVENTS: THE UTAH OLYMPIC PARK, THE UTAH OLYMPIC OVAL AND SOLDIER HOLLOW NORDIC CENTER OFFER HIGH QUALITY WINTER SPORT DEVELOPMENT PROGRAMS FOR YOUTH THAT EMBRACE LONG TERM ATHLETE DEVELOPMENT PRINCIPLES AND THAT GET PEOPLE OF ALL AGES AND ABILITIES ACTIVE IN SPORT. THESE PROGRAMS SHOWCASE OUR LOCALLY TRAINED ATHLETES AND INVOLVE OUR LOCAL COMMUNITIES.

    Expenses $11,178,130 · Revenue $9,449,577

  • PUBLIC PROGRAMS AND ACTIVITIES: THE UTAH OLYMPIC PARK, THE UTAH OLYMPIC OVAL AND SOLDIER HOLLOW NORDIC CENTER HAVE EXPERIENCED INCREASED PUBLIC USE OF PROGRAMS, SUCH AS PUBLIC SKATE SESSIONS, BOBSLED AND SKELETON RIDES, PUBLIC NORDIC SKIING LESSONS AND PUBLIC TOURS. THESE SIGNIFICANT INCREASES REFLECT A GROWING AWARENESS AND INTEREST IN OUR VENUE OFFERINGS.

    Expenses $8,773,440 · Revenue $9,417,345

As filed on the 2022 return.

Listed in Part VII

  • Brett Hopkins

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Spencer F Eccles

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Natalie Gochnour

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Fraser Bullock

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Eric Hutchings

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Jim Olson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • Catherine Raney Norman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Vicki Varela

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Bob Wheaton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Becky Kearns

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Courtland Nelson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Wayne Niederhauser

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Molly Mazzolini

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Noelle Pace

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Mike Cooper

    ADVISOR

    Total calculated
    $0
    Hours/week
    1

  • Chris Waddell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Colin Hilton

    PRESIDENT & CEO

    Total calculated
    $327,260
    From this org
    $307,382
    From related orgs
    $0
    Other
    $19,878
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $218,982
    Bonus
    $84,800
    Other
    $3,600
    Deferred
    $0
    Nontaxable benefits
    $19,878
    Filer's total
    $327,260

  • Calum Clark

    CHIEF OPERATING OFFICER

    Total calculated
    $240,895
    From this org
    $220,394
    From related orgs
    $0
    Other
    $20,501
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $166,622
    Bonus
    $49,972
    Other
    $3,800
    Deferred
    $0
    Nontaxable benefits
    $20,501
    Filer's total
    $240,895

  • Karla Knox

    CHIEF FINANCIAL OFFICER

    Total calculated
    $216,446
    From this org
    $196,998
    From related orgs
    $0
    Other
    $19,448
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $148,532
    Bonus
    $44,559
    Other
    $3,907
    Deferred
    $0
    Nontaxable benefits
    $19,448
    Filer's total
    $216,446

  • Lisa Rasmussen

    CHIEF REVENUE OFFICER

    Total calculated
    $219,548
    From this org
    $209,106
    From related orgs
    $0
    Other
    $10,442
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $143,219
    Bonus
    $62,287
    Other
    $3,600
    Deferred
    $0
    Nontaxable benefits
    $10,442
    Filer's total
    $219,548

  • Christie Hind

    EXECUTIVE DIRECTOR - PARK

    Total calculated
    $183,974
    From this org
    $168,846
    From related orgs
    $0
    Other
    $15,128
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $146,346
    Bonus
    $22,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,128
    Filer's total
    $183,974

  • Luke Bodensteiner

    CHIEF OF SPORT DEVELOPMENT

    Total calculated
    $191,640
    From this org
    $172,071
    From related orgs
    $0
    Other
    $19,569
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,927
    Bonus
    $30,344
    Other
    $3,800
    Deferred
    $0
    Nontaxable benefits
    $19,569
    Filer's total
    $191,640

  • Jamie Kimball

    HIGHEST COMPENSATED EMPLOY

    Total calculated
    $136,647
    From this org
    $132,572
    From related orgs
    $0
    Other
    $4,075
    Hours/week
    40

  • Jared Goff

    HIGHEST COMPENSATED EMPLOY

    Total calculated
    $120,478
    From this org
    $118,457
    From related orgs
    $0
    Other
    $2,021
    Hours/week
    40

  • Christopher Haslock

    HIGHEST COMPENSATED EMPLOY

    Total calculated
    $127,989
    From this org
    $120,523
    From related orgs
    $0
    Other
    $7,466
    Hours/week
    1

  • Thomas Eckfeldt

    HIGHEST COMPENSATED EMPLOY

    Total calculated
    $119,064
    From this org
    $104,173
    From related orgs
    $0
    Other
    $14,891
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 6a · Pay contingent on this organization's net earnings

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 6
FORTY FIVE PERCENT OF THE PERFORMANCE GOALS FOR DETERMINING THE BONUS COMPENSATION FOR THE ORGANIZATION'S PRESIDENT/CEO ARE DIRECTLY TIED TO EFFECTIVE FINANCIAL OVERSIGHT ON DEPARTMENTAL REVENUE/EXPENDITURES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • PARK CITY SKI AND SNOWBOARD LLC

    SEE SUPPLEMENTAL INFORMATION · UT · income -$237 · assets $3,108,693

    Directly controlled by UTAH ATHLETIC FOUNDATION

Provenance

Return type
form_990
Tax year
2022
Filed
13 March 2024
IRS schema version
2022v5.0
Source object
202400739349301440

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