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Nonprofiteer
← USA BOXING INC

Form 990 for tax year 2023

Filed by USA BOXING INC.

Totals

Total revenue
$9,323,938
Total expenses
$8,235,275
Contributions and grants received
$3,169,234
Grants paid
$229,871
Program service revenue
$5,971,103
Investment income
$30,368
Other revenue
$153,233
Total assets, end of year
$5,701,145
Total liabilities, end of year
$2,973,633
Net assets or fund balances, end of year
$2,727,512
Program services expenses (Part IX)
$6,875,465
Management and general expenses
$1,013,422
Fundraising expenses
$346,388
Program service expenses (Part III)
$6,875,465

Program services were 83.5% 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.

  • 1d · Related organizations

    $244,769

  • 1f · All other contributions, gifts and grants

    $2,924,465

  • 1g · Noncash contributions included above

    $281,888

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $5,051,051 · related or exempt $5,051,051

  • 2b · Program service revenue: NATIONAL EVENT REVENUE

    total $629,631 · related or exempt $629,631

  • 2c · Program service revenue: MEDIA AGREEMENT

    total $150,000 · related or exempt $150,000

  • 2d · Program service revenue: CORPORATE SPONSORSHIPS

    total $103,792 · related or exempt $103,792

  • 2e · Program service revenue: OTHER PROGRAM REVENUE

    total $36,629 · related or exempt $36,629

  • 3 · Investment income

    total $39,559 · excluded $39,559

  • 7a · Gross sales of assets other than inventory

    securities $827,530

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

    securities $836,721

  • 7c · Gain or loss

    securities -$9,191

  • 7d · Net gain or loss

    total -$9,191 · excluded -$9,191

  • 10a · Gross sales of inventory

    $156,041

  • 10b · Cost of goods sold

    $2,808

  • 10c · Net income from sales of inventory

    total $153,233 · related or exempt $153,233

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $79,370 · program services $79,370

  • 2 · Grants to domestic individuals

    total $150,501 · program services $150,501

  • 5 · Compensation of officers, directors and key employees

    total $471,991 · program services $274,517 · management and general $171,705 · fundraising $25,769

  • 7 · Other salaries and wages

    total $1,807,535 · program services $1,464,133 · management and general $180,374 · fundraising $163,028

  • 8 · Pension plan contributions

    total $135,746 · program services $87,729 · management and general $38,960 · fundraising $9,057

  • 9 · Other employee benefits

    total $159,883 · program services $115,155 · management and general $28,360 · fundraising $16,368

  • 10 · Payroll taxes

    total $180,031 · program services $134,935 · management and general $29,170 · fundraising $15,926

  • 11b · Fees: legal

    total $89,723 · management and general $89,723

  • 11c · Fees: accounting

    total $17,775 · management and general $17,775

  • 11f · Fees: investment management

    total $10,525 · management and general $10,525

  • 11g · Fees: other

    total $761,666 · program services $563,168 · management and general $178,637 · fundraising $19,861

  • 12 · Advertising and promotion

    total $7,551 · management and general $40 · fundraising $7,511

  • 13 · Office expenses

    total $239,471 · program services $196,312 · management and general $41,873 · fundraising $1,286

  • 16 · Occupancy

    total $35,123 · program services $4,901 · management and general $20,579 · fundraising $9,643

  • 17 · Travel

    total $1,756,423 · program services $1,570,564 · management and general $143,924 · fundraising $41,935

  • 19 · Conferences, conventions and meetings

    total $8,999 · program services $8,309 · management and general $250 · fundraising $440

  • 22 · Depreciation, depletion and amortization

    total $10,767 · program services $10,767

  • 23 · Insurance

    total $919,406 · program services $919,254 · management and general $152

  • 24a · Other expenses: DUES AND FEES

    total $457,410 · program services $425,856 · management and general $27,868 · fundraising $3,686

  • 24b · Other expenses: VIK DISTRIBUTION

    total $243,343 · program services $221,893 · fundraising $21,450

  • 24c · Other expenses: BACKGROUND SCREENING

    total $236,597 · program services $236,597

  • 24d · Other expenses: BOXING SUPPLIES AND EQU

    total $202,560 · program services $191,120 · management and general $1,012 · fundraising $10,428

  • 24e · All other expenses

    total $252,879 · program services $220,384 · management and general $32,495

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $80,306 · end of year $1,446,878

  • 2 · Savings and temporary cash investments

    beginning of year $2,455,450 · end of year $2,569,945

  • 3 · Pledges and grants receivable

    beginning of year $19,560 · end of year $107,065

  • 4 · Accounts receivable

    beginning of year $48,622 · end of year $159,525

  • 8 · Inventories for sale or use

    beginning of year $62,546 · end of year $53,625

  • 9 · Prepaid expenses and deferred charges

    beginning of year $35,825 · end of year $253,730

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

    $54,112

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

    $42,853

  • 10c · Land, buildings and equipment, net

    beginning of year $22,025 · end of year $11,259

  • 11 · Investments: publicly traded securities

    beginning of year $957,969 · end of year $1,049,645

  • 15 · Other assets

    beginning of year $41,264 · end of year $49,473

  • 17 · Accounts payable and accrued expenses

    beginning of year $614,341 · end of year $1,005,233

  • 19 · Deferred revenue

    beginning of year $1,083,114 · end of year $1,348,282

  • 25 · Other liabilities

    beginning of year $467,771 · end of year $620,118

  • 27 · Net assets without donor restrictions

    beginning of year $1,558,341 · end of year $2,727,512

Mission and programs · 2023

Mission

THE CORPORATION IS THE NATIONAL GOVERNING BODY FOR AMATEUR BOXING AND IS RESPONSIBLE FOR THE PROMOTION AND DEVELOPMENT OF AMATEUR BOXING IN THE UNITED STATES. THE ORGANIZATION'S MISSION STATEMENT IS TO PROMOTE AND GROW OLYMPIC-STYLE AMATEUR BOXING IN THE UNITED STATES AND TO INSPIRE THE TIRELESS PURSUIT OF OLYMPIC GOLD AND ENABLE ATHLETES AND COACHES TO ACHIEVE SUSTAINED COMPETITIVE EXCELLENCE. ADDITIONALLY, USA BOXING ENDEAVORS TO TEACH ALL PARTICIPANTS THE CHARACTER, CONFIDENCE AND FOCUS THEY NEED TO BECOME RESILIENT AND DIVERSE CHAMPIONS, BOTH IN AND OUT OF THE RING.

Activities or mission (Part I)

THE CORPORATION IS THE NATIONAL GOVERNING BODY FOR AMATEUR BOXING AND IS RESPONSIBLE FOR THE PROMOTION AND DEVELOPMENT OF AMATEUR BOXING IN THE UNITED STATES.

  • DEVELOPMENT AND OTHER PROGRAMS - THE CORPORATION PROMOTES ATHLETE'S PHYSICAL AND MENTAL TRAINING IN ORDER TO FURTHER THEIR DEVELOPMENT.

    Expenses $2,575,805 · Grants $229,871 · Revenue $443,654

  • MEMBERSHIP - THE CORPORATION PROVIDES OFFICIAL OLYMPIC MEMBERSHIP CREDENTIALS AS WELL AS ACCIDENT AND GENERAL LIABILITY INSURANCE TO ITS MEMBERS.

    Expenses $2,679,651 · Revenue $5,051,051

  • NATIONAL EVENTS - THE CORPORATION SANCTIONS AMATEUR BOXING EVENTS FOR WHICH ATHLETES TRAIN AND COMPETE. JUNIOR ATHLETES TRAIN FOR AND COMPETE IN AMATEUR BOXING EVENTS.

    Expenses $1,620,009 · Revenue $629,631

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tyson Lee

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Elise Seignolle

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Hector Colon

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Angelica Colantuoni

    INDEPENDENT DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Christy Halbert

    LBC DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Eric Buller

    AFFILIATED GROUP MEMBER DIR

    Total calculated
    $0
    Hours/week
    5

  • Jonathan Prin

    GENERAL MEMBERSHIP DIRECTO

    Total calculated
    $0
    Hours/week
    5

  • Ebony Haliburton

    INDEPENDENT DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Chris Trombetta

    INDEPENDENT DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Brian Ceballo

    ATHLETE DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Frachon Crews-Dezurn

    ATHLETE DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Rahim Gonzales

    ATHLETE DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Omari Jones

    ATHLETE DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Danielle Perkins

    ATHLETE DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Darryl Smith

    INDEPENDENT DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Michael McAtee

    EXECUTIVE DIRECTOR

    Total calculated
    $260,184
    From this org
    $228,077
    From related orgs
    $0
    Other
    $32,107
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $228,077
    Bonus
    $0
    Other
    $0
    Deferred
    $22,807
    Nontaxable benefits
    $9,300
    Filer's total
    $260,184

  • William Walsh

    HEAD COACH

    Total calculated
    $214,300
    From this org
    $190,000
    From related orgs
    $0
    Other
    $24,300
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $190,000
    Bonus
    $0
    Other
    $0
    Deferred
    $15,000
    Nontaxable benefits
    $9,300
    Filer's total
    $214,300

  • Matthew Johnson

    HIGH PERFORMANCE DIRECTOR

    Total calculated
    $181,256
    From this org
    $157,688
    From related orgs
    $0
    Other
    $23,568
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $157,688
    Bonus
    $0
    Other
    $0
    Deferred
    $14,268
    Nontaxable benefits
    $9,300
    Filer's total
    $181,256

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 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
ALL EMPLOYEES ARE ELIGIBLE FOR DISCRETIONARY BONUSES BASED UPON A VARIETY OF SUBJECTIVE CRITERIA. ANY BONUSES RECEIVED ARE REPORTED IN COLUMN B(II) OF SCHEDULE J PART II.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202433109349303643

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