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Nonprofiteer
← CHAMPIONS FOR EDUCATION INC

Form 990 for tax year 2022

Filed by CHAMPIONS FOR EDUCATION INC.

Totals

Total revenue
$24,301,704
Total expenses
$23,910,195
Contributions and grants received
$3,587,100
Grants paid
$2,212,059
Program service revenue
$18,788,241
Investment income
$114,415
Other revenue
$1,811,948
Total assets, end of year
$9,544,601
Total liabilities, end of year
$5,828,200
Net assets or fund balances, end of year
$3,716,401
Program services expenses (Part IX)
$23,442,519
Management and general expenses
$424,208
Fundraising expenses
$43,468
Program service expenses (Part III)
$23,442,519

Program services were 98.0% 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

    $3,587,100

  • 2a · Program service revenue: GOLF TOURNAMENT REV.

    total $18,788,241 · related or exempt $18,788,241

  • 3 · Investment income

    total $114,415 · excluded $114,415

  • 5 · Royalties

    total $134,304 · excluded $134,304

  • 11a · Other revenue: CONCESSION/CATERING

    total $1,670,394 · excluded $1,670,394

  • 11b · Other revenue: ADVERTISING REVENUE

    total $7,250 · unrelated business $34,000 · excluded -$26,750

  • 11e · Other revenue, total

    $1,677,644

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,212,059 · program services $2,212,059

  • 5 · Compensation of officers, directors and key employees

    total $389,047 · program services $389,047

  • 7 · Other salaries and wages

    total $651,019 · program services $651,019

  • 10 · Payroll taxes

    total $108,678 · program services $108,678

  • 11a · Fees: management

    total $375,000 · management and general $375,000

  • 11b · Fees: legal

    total $1,936 · management and general $1,936

  • 11c · Fees: accounting

    total $33,500 · management and general $33,500

  • 11g · Fees: other

    total $282,917 · program services $282,917

  • 12 · Advertising and promotion

    total $173,870 · program services $130,402 · fundraising $43,468

  • 13 · Office expenses

    total $193,046 · program services $193,046

  • 14 · Information technology

    total $6,120 · program services $6,120

  • 15 · Royalties

    total $1,938,856 · program services $1,938,856

  • 17 · Travel

    total $78,913 · program services $78,913

  • 22 · Depreciation, depletion and amortization

    total $28,670 · program services $28,670

  • 23 · Insurance

    total $68,862 · program services $55,090 · management and general $13,772

  • 24a · Other expenses: GOLF TOURNAMENT EXPENSE

    total $17,248,088 · program services $17,248,088

  • 24b · Other expenses: BANK & CREDIT CARD FEE

    total $82,063 · program services $82,063

  • 24c · Other expenses: DUES/SUBSCRIPTIONS

    total $36,162 · program services $36,162

  • 24d · Other expenses: UBI TAX

    total $394 · program services $394

  • 24e · All other expenses

    total $995 · program services $995

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,517,493 · end of year $5,709,483

  • 4 · Accounts receivable

    beginning of year $2,018,704 · end of year $1,845,342

  • 9 · Prepaid expenses and deferred charges

    beginning of year $121,348 · end of year $153,610

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

    $2,997,700

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

    $2,914,087

  • 10c · Land, buildings and equipment, net

    beginning of year $112,283 · end of year $83,613

  • 15 · Other assets

    beginning of year $0 · end of year $1,752,553

  • 17 · Accounts payable and accrued expenses

    beginning of year $995,851 · end of year $3,568,531

  • 19 · Deferred revenue

    beginning of year $449,085 · end of year $507,116

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,752,553

  • 27 · Net assets without donor restrictions

    beginning of year $3,324,892 · end of year $3,716,401

Mission and programs · 2022

Mission

THE ORGANIZATION WAS ORGANIZED EXCLUSIVELY FOR RAISING FUNDS SO THAT IT MAY PROVIDE GRANTS TO OTHER CHARITIES WHICH STRIVE TO IMPROVE THE QUALITY OF EDUCATION AROUND THE NATION.

Activities or mission (Part I)

THE ORGANIZATION WAS ORGANIZED EXCLUSIVELY FOR RAISING FUNDS TO PROVIDE GRANTS TO OTHER CHARITIES WHICH STRIVE TO IMPROVE THE QUALITY OF EDUCATION AROUND THE NATION.

  • THE ORGANIZATION'S PRIMARY FUNDRAISING ACTIVITY IS THE HOSTING OF A PGA PROFESSIONAL GOLF TOURNAMENT IN CHARLOTTE, NC, KNOWN AS THE WELLS FARGO CHAMPIONSHIP. THE ORGANIZATION'S PRIMARY FUNDRAISING ACTIVITY IS THE HOSTING OF A PGA CHAMIONSHIP. THE 2023 TOURNAMENT WAS HELD MAY 4 - MAY 7, 2023, RAISING PROCEEDS TO PRIMARILY BENEFIT ATRIUM HEALTH FOUNDATION, DREAMKEY, AND FIRST TEE.

    Expenses $23,442,519 · Grants $2,212,059 · Revenue $18,788,241

As filed on the 2022 return.

Listed in Part VII

  • Rich Davies

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Stephanie Rivera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • John W Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Felix Sabates

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Kendall Alley

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    10

  • Jay Coleman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Eric Steigerwalt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Johno Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Luke Kissam

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Robert Stevanovski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Armando Chardiet

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Rob Engel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Gary Sobba

    TOURANMAENT EXECUTIVE DIRE

    Total calculated
    $418,947
    From this org
    $389,047
    From related orgs
    $0
    Other
    $29,900
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $213,657
    Bonus
    $175,390
    Other
    $0
    Deferred
    $27,000
    Nontaxable benefits
    $2,900
    Filer's total
    $418,947

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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

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

Provenance

Return type
form_990
Tax year
2022
Filed
16 January 2024
IRS schema version
2022v5.0
Source object
202410169349304536

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