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Nonprofiteer
← CRYSTAL COAST TOURNAMENT INC

Form 990 for tax year 2023

Filed by CRYSTAL COAST TOURNAMENT INC.

Totals

Total revenue
$11,701,515
Total expenses
$10,831,663
Contributions and grants received
$12,550
Grants paid
$1,528,966
Program service revenue
$10,158,230
Investment income
$84,196
Other revenue
$1,446,539
Total assets, end of year
$1,665,806
Total liabilities, end of year
$262,624
Net assets or fund balances, end of year
$1,403,182
Program services expenses (Part IX)
$10,542,963
Management and general expenses
$288,700
Fundraising expenses
$0
Program service expenses (Part III)
$10,542,963

Program services were 97.3% 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.

  • 1f · All other contributions, gifts and grants

    $12,550

  • 2a · Program service revenue: TOURNAMENT INCOME

    total $10,158,230 · related or exempt $10,158,230

  • 3 · Investment income

    total $84,213 · excluded $84,213

  • 7a · Gross sales of assets other than inventory

    securities $1,118,736

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

    securities $1,118,753

  • 7c · Gain or loss

    securities -$17

  • 7d · Net gain or loss

    total -$17 · excluded -$17

  • 8a · Fundraising events: gross income

    $22,525

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $22,525 · excluded $22,525

  • 10a · Gross sales of inventory

    $2,625,694

  • 10b · Cost of goods sold

    $1,201,969

  • 10c · Net income from sales of inventory

    total $1,423,725 · related or exempt $1,423,725

  • 11a · Other revenue: CASH BACK REWARDS

    total $289 · excluded $289

  • 11e · Other revenue, total

    $289

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,528,966 · program services $1,528,966

  • 5 · Compensation of officers, directors and key employees

    total $156,754 · management and general $156,754

  • 7 · Other salaries and wages

    total $445,993 · program services $445,993

  • 9 · Other employee benefits

    total $9,067 · program services $8,392 · management and general $675

  • 10 · Payroll taxes

    total $47,162 · program services $35,641 · management and general $11,521

  • 11b · Fees: legal

    total $15,020 · program services $15,020

  • 11c · Fees: accounting

    total $30,848 · program services $15,424 · management and general $15,424

  • 12 · Advertising and promotion

    total $17,646 · program services $17,646

  • 13 · Office expenses

    total $208,652 · program services $104,326 · management and general $104,326

  • 16 · Occupancy

    total $118,499 · program services $118,499

  • 17 · Travel

    total $9,903 · program services $9,903

  • 19 · Conferences, conventions and meetings

    total $6,845 · program services $6,845

  • 22 · Depreciation, depletion and amortization

    total $19,960 · program services $19,960

  • 23 · Insurance

    total $48,094 · program services $48,094

  • 24a · Other expenses: PRIZES

    total $7,280,800 · program services $7,280,800

  • 24b · Other expenses: TOURNAMENT FUNCTIONS

    total $717,302 · program services $717,302

  • 24c · Other expenses: BANK CHARGES

    total $79,406 · program services $79,406

  • 24d · Other expenses: CONTRACT SERVICES

    total $62,945 · program services $62,945

  • 24e · All other expenses

    total $27,801 · program services $27,801

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,033 · end of year $2,253

  • 2 · Savings and temporary cash investments

    beginning of year $1,836,040 · end of year $531,616

  • 8 · Inventories for sale or use

    beginning of year $176,941 · end of year $248,329

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

    $336,815

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

    $144,030

  • 10c · Land, buildings and equipment, net

    beginning of year $29,490 · end of year $192,785

  • 12 · Investments: other securities

    beginning of year $745,657 · end of year $684,698

  • 15 · Other assets

    beginning of year $84,085 · end of year $6,125

  • 17 · Accounts payable and accrued expenses

    beginning of year $300,550 · end of year $255,665

  • 25 · Other liabilities

    beginning of year $2,041,366 · end of year $6,959

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $533,330 · end of year $1,403,182

Mission and programs · 2023

Mission

THE ORGANIZATION'S MISSION STATEMENT AND PRIMARY EXEMPT PURPOSE IS RAISING FUNDS FOR CHARITABLE ORGANZIATIONS AND WORTHY COMMUNITY PROJECTS; TO PROMOTE SPORTFISHING THROUGHOUT CARTERET COUNTY AND THE STATE OF NORTH CAROLINA; PROMOTE CONSERVATION AMONG SPORTSFISHERMEN; PRESERVE MARITIME CULTURE AND HERITAGE; AND TO PROMOTE MARINE EDUCATION.

Activities or mission (Part I)

THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS RAISING FUNDS FOR CHARITIES AND WORTHY COMMUNITY PROJECTS TO PROMOTE CONSERVATON AMOUNG SPORTSFISHERMEN AND PRESERVE MARITIME CULTURE AND HERITAGE WHILE PROMOTING MARINE EDUCATION.

  • THE ORGANIZATION WAS ABLE TO RAISE FUNDS TO HELP SUPPORT LOCAL ORGANIZATIONS INCLUDING HELPING MENTALLY AND PHYSICALLY HANDICAPPED INDIVIDUALS AND RAISED FUNDS FOR ORGANIZATIONS THAT HELP TO PROMOTE FISH PRESERVATION AND SPORTSFISHING.

    Expenses $10,542,963 · Grants $1,528,966 · Revenue $11,581,955

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

Listed in Part VII

  • Billy Kornegay

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Caroline Petrilli

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Casey Wagner

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Curtis Strange

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Dale Britt

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Dew Forbes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Emery Ivey

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Howard Basnight

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Jack Jordan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Jim Bailey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Joy Bell

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Les Collins

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Mike Thompson

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Randy Ramsey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Richard Crowe

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Roger Crowe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Tom Bennett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Brent Gaskill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Madison Struyk

    TOURNAMENT DIRECTOR

    Total calculated
    $156,754
    From this org
    $156,754
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $50,000
    Bonus
    $106,754
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $156,754

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

  • 5a · Pay contingent on this organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 5
EXECUTIVE DIRECTOR'S COMMISSIONS BASED ON SPONSORSHIP LEVELS OBTAINED DURING THE FISCAL YEAR AND BONUSES ARE BASED ON ADHERING TO THE ANNUAL BUDGET.

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

  • CARTERET COMMUNITY THEATRE

    $250,000

    TO PROVIDE ONGOING SUPPORT FOR PRODUCTION NEEDS

  • CARTERET COUNTY PUBLIC SCHOOL FOUNDATION

    $250,000

    TO PROVIDE ASSISTANCE FOR THE TEACHER HOUSING FUND

  • SMYRNA ELEMENTARY AND DOWN EAST MIDDLE

    $115,000

    TO PROVIDE ASSISTANCE FOR IMPROVING SPORTS FIELDS

  • BROADCREEK MIDDLE SCHOOL

    $90,000

    TO PROVIDE ASSISTANCE FOR BLEACHER SEATING

  • MOREHEAD CITY LITTLE LEAGUE

    $83,000

    TO PROVIDE ASSISTANCE FOR ARTIFICIAL TURF FOR INFIELD/HOMEPLATE AND (4) BATTING CAGES

  • TOWN OF ATLANTIC BEACH

    $83,000

    TO PROVIDE ASSISTANCE FOR GUARDRAILS/PICNIC TABLES/BIKE RACK/ 8'WIDE SIDEWALK

  • BOGUE SOUND ELEMENTARY SCHOOL

    $51,000

    TO PROVIDE ASSISTANCE FOR THE QUARTER-MILE TRACK

  • CAMP ALBEMARLE

    $50,000

    TO PROVIDE ASSISTANCE FOR THE ROPE CHALLENGE/BR SHIP RENO/SPLASH PAD

  • THE BRIDGE DOWNEAST

    $50,000

    TO PROVIDE ASSISTANCE FOR 2- HVAC UNITS/ VAN (3RD)

  • CORE SOUND MUSEUM

    $46,500

    TO PROVIDE ASSISTANCE FOR THE VIDEO WALL

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • BIG ROCK FOUNDATION

    501(C)3 · PROVIDING ASSISTANCE TO CHILDREN AND FISH CONSERVATION RELATED ACTIVITIES · NC

    Directly controlled by CRYSTAL COAST TOURNAMENT INC

Provenance

Return type
form_990
Tax year
2023
Filed
4 February 2025
IRS schema version
2023v6.0
Source object
202500429349301445

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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