Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $300,213

• 1g · Noncash contributions included above

  $10,589

• 2a · Program service revenue: EVENT REVENUE

  total $2,140,343 · excluded $2,140,343

• 2b · Program service revenue: PROMOTIONAL ACTIVITIES

  total $545,728 · related or exempt $545,728

• 2c · Program service revenue: PARTY LOFT REVENUE

  total $59,083 · unrelated business $59,083

• 6a · Gross rents

  real property $15,600

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $15,600

• 6d · Net rental income or loss

  total $15,600 · excluded $15,600

• 9a · Gaming: gross income

  $93,828

• 9b · Gaming: direct expenses

  $103,571

• 9c · Net income from gaming

  total -$9,743 · excluded -$9,743

• 11a · Other revenue: OTHER INCOME

  total $46,125 · related or exempt $46,125

• 11e · Other revenue, total

  $46,125

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,285,961 · program services $2,285,961

• 5 · Compensation of officers, directors and key employees

  total $96,196 · program services $58,872 · management and general $37,324

• 7 · Other salaries and wages

  total $256,420 · program services $156,929 · management and general $99,491

• 8 · Pension plan contributions

  total $14,951 · program services $9,150 · management and general $5,801

• 9 · Other employee benefits

  total $42,949 · program services $19,076 · management and general $16,664 · fundraising $7,209

• 10 · Payroll taxes

  total $21,120 · program services $11,316 · management and general $7,174 · fundraising $2,630

• 12 · Advertising and promotion

  total $197,390 · program services $197,390

• 13 · Office expenses

  total $66,230 · program services $66,230

• 14 · Information technology

  total $16,355 · program services $16,355

• 16 · Occupancy

  total $45,435 · program services -$998 · management and general $46,433

• 17 · Travel

  total $32,807 · program services $32,807

• 19 · Conferences, conventions and meetings

  total $46,312 · program services $46,312

• 22 · Depreciation, depletion and amortization

  total $53,272 · program services $22,065 · management and general $31,207

• 23 · Insurance

  total $43,033 · program services $43,033

• 24a · Other expenses: PROMOTIONAL&HOSPITALITY

  total $1,605,008 · program services $1,605,008

• 24b · Other expenses: ASF OVERHEAD ALLOCATION

  total $319,768 · program services $195,698 · management and general $124,070

• 24c · Other expenses: UBIT

  total $28,365 · program services $28,359 · management and general $6

• 24d · Other expenses: DUES & SUBSCRIPTIONS

  total $149 · management and general $149

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $332,261 · end of year $0

• 4 · Accounts receivable

  beginning of year $255,563 · end of year $63,418

• 9 · Prepaid expenses and deferred charges

  beginning of year $62,717 · end of year $44,370

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

  $271,010

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

  $253,961

• 10c · Land, buildings and equipment, net

  beginning of year $27,266 · end of year $17,049

• 15 · Other assets

  beginning of year $609,215 · end of year $468,568

• 17 · Accounts payable and accrued expenses

  beginning of year $84,215 · end of year $49,780

• 19 · Deferred revenue

  beginning of year $532,702 · end of year $235,980

• 25 · Other liabilities

  beginning of year $36,763,502 · end of year $38,475,414

• 27 · Net assets without donor restrictions

  beginning of year -$36,702,610 · end of year -$38,680,551

• 28 · Net assets with donor restrictions

  beginning of year $609,213 · end of year $512,782

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, LINES 4A-B

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. ASF 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, 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.