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← PALM BEACH NAVY SEAL EVENING OF TRIBUTE INC

Form 990 for tax year 2022

Filed by PALM BEACH NAVY SEAL EVENING OF TRIBUTE INC.

Totals

Total revenue
$817,602
Total expenses
$1,276,940
Contributions and grants received
$914,334
Grants paid
$1,148,562
Program service revenue
$0
Investment income
$468
Other revenue
-$97,200
Total assets, end of year
$288,961
Total liabilities, end of year
$319
Net assets or fund balances, end of year
$288,642
Program services expenses (Part IX)
$1,148,562
Management and general expenses
$32,720
Fundraising expenses
$95,658
Program service expenses (Part III)
$1,148,562

Program services were 89.9% 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.

  • 1c · Fundraising events

    $914,334

  • 1g · Noncash contributions included above

    $9,904

  • 3 · Investment income

    total $156 · excluded $156

  • 7a · Gross sales of assets other than inventory

    securities $10,216

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

    securities $9,904

  • 7c · Gain or loss

    securities $312

  • 7d · Net gain or loss

    total $312 · excluded $312

  • 8a · Fundraising events: gross income

    $75,300

  • 8a · Fundraising events: contributions included on line 1c

    $914,334

  • 8b · Fundraising events: direct expenses

    $172,500

  • 8c · Net income from fundraising events

    total -$97,200 · excluded -$97,200

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,148,562 · program services $1,148,562

  • 11c · Fees: accounting

    total $3,340 · management and general $3,340

  • 11g · Fees: other

    total $25,919 · management and general $25,919

  • 12 · Advertising and promotion

    total $4,188 · fundraising $4,188

  • 13 · Office expenses

    total $164 · management and general $164

  • 17 · Travel

    total $15,619 · fundraising $15,619

  • 24a · Other expenses: EVENT MANAGER

    total $23,200 · fundraising $23,200

  • 24b · Other expenses: EVENT DESIGN

    total $17,685 · fundraising $17,685

  • 24c · Other expenses: PRINTING & COPYING

    total $16,405 · fundraising $16,405

  • 24d · Other expenses: PERFORMER

    total $10,500 · fundraising $10,500

  • 24e · All other expenses

    total $11,358 · management and general $3,297 · fundraising $8,061

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $753,487 · end of year $200,961

  • 9 · Prepaid expenses and deferred charges

    beginning of year $500 · end of year $88,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,009 · end of year $319

  • 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 $747,978 · end of year $288,642

Mission and programs · 2022

Mission

PALM BEACH NAVY SEAL EVENING OF TRIBUTE INC.'S MISSION IS TO PROVIDE SUPPORT TO THE NAVY SEALS, HONOR THEM, AND RAISE FUNDS TO SUPPORT THE ORGANIZATIONS THAT ASSIST THEM (NAVY SEAL FOUNDATION, THE NAVY SEAL MUSEUM, AND TRIDENT HOUSE) BY PLANNING AND EXECUTING A CHARITABLE DINNER AND HOSTING OTHER SIMILAR EVENTS.

  • THE PRIMARY ACCOMPLISHMENT OF THIS ORGANIZATION WILL BE THE CONTRIBUTION OF FUNDS TO THE NAVY SEAL FOUNDATION AND RELATED ORGANIZATIONS. THIS OCCURED THROUGH THE INAUGURAL NAVY SEAL EVENING OF TRIBUTE EVENT HELD APRIL 2017 AND HAS CONTINUED TO OCCUR ON A BIENNIAL BASIS; HOWEVER, DUE TO THE CORONAVIRUS PANDEMIC, THE BIENNIAL EVENT SCHEDULED FOR 2021 WAS CANCELLED AND HELD ON APRIL 6TH 2022.

    Expenses $1,148,562 · Grants $1,148,562

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Rebecca Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Jane Woodman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Margery McCloskey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Matthew Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Michael Kluger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
16 January 2024
IRS schema version
2022v5.0
Source object
202420169349300067

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