Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $97,279

• 1g · Noncash contributions included above

  $96,279

• 2a · Program service revenue: GAME REVENUE

  total $11,478,335 · related or exempt $11,478,335

• 2b · Program service revenue: EVENT REVENUE

  total $1,550,483 · excluded $1,550,483

• 2c · Program service revenue: ACKNOWLEDGEMENTS

  total $176,665 · related or exempt $176,665

• 2d · Program service revenue: ADVERTISING

  total $33,000 · unrelated business $33,000

• 3 · Investment income

  total $1,268,256 · unrelated business $5,782 · excluded $1,262,474

• 5 · Royalties

  total $86,995 · excluded $86,995

• 7a · Gross sales of assets other than inventory

  securities $17,716,818

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

  securities $18,043,546

• 7c · Gain or loss

  securities -$326,728

• 7d · Net gain or loss

  total -$326,728 · excluded -$326,728

• 11a · Other revenue: MISCELLANEOUS

  total $32,390 · excluded $32,390

• 11e · Other revenue, total

  $32,390

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,370,370 · program services $305,517 · management and general $1,064,853

• 7 · Other salaries and wages

  total $1,595,683 · program services $1,595,683

• 8 · Pension plan contributions

  total $344,559 · program services $287,616 · management and general $56,943

• 9 · Other employee benefits

  total $198,222 · program services $157,915 · management and general $40,307

• 10 · Payroll taxes

  total $211,201 · program services $165,159 · management and general $46,042

• 11b · Fees: legal

  total $158,113 · program services $123,644 · management and general $34,469

• 11c · Fees: accounting

  total $67,980 · program services $53,160 · management and general $14,820

• 11f · Fees: investment management

  total $54,079 · management and general $54,079

• 11g · Fees: other

  total $300,490 · program services $234,983 · management and general $65,507

• 12 · Advertising and promotion

  total $328,093 · program services $328,093

• 13 · Office expenses

  total $90,264 · program services $70,586 · management and general $19,678

• 14 · Information technology

  total $174,220 · program services $136,240 · management and general $37,980

• 16 · Occupancy

  total $290,760 · program services $227,374 · management and general $63,386

• 17 · Travel

  total $289,274 · program services $226,212 · management and general $63,062

• 19 · Conferences, conventions and meetings

  total $181,254 · program services $141,741 · management and general $39,513

• 20 · Interest

  total $7,685 · management and general $7,685

• 22 · Depreciation, depletion and amortization

  total $286,586 · program services $224,110 · management and general $62,476

• 23 · Insurance

  total $230,091 · management and general $230,091

• 24a · Other expenses: UBIT

  total $9,589 · management and general $9,589

• 24b · Other expenses: GAME EXPENSES

  total $7,052,315 · program services $6,832,915 · management and general $219,400

• 24c · Other expenses: PROMOTIONS&HOSPITALITY

  total $587,747 · program services $559,403 · management and general $28,344

• 24d · Other expenses: DUES & SUBSCRIPTIONS

  total $303,003 · program services $212,970 · management and general $90,033

• 24e · All other expenses

  total -$616,075 · program services -$459,525 · management and general -$156,550

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $541,505 · end of year $1,287,024

• 2 · Savings and temporary cash investments

  beginning of year $6,854,850 · end of year $7,643,523

• 4 · Accounts receivable

  beginning of year $654,953 · end of year $2,727,367

• 5 · Loans and receivables from officers and key people

  beginning of year $1,400,000 · end of year $1,400,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $161,090 · end of year $186,155

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

  $7,958,803

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

  $5,776,808

• 10c · Land, buildings and equipment, net

  beginning of year $2,489,651 · end of year $2,181,995

• 11 · Investments: publicly traded securities

  beginning of year $19,712,185 · end of year $23,372,692

• 12 · Investments: other securities

  beginning of year $1,201,312 · end of year $1,155,065

• 15 · Other assets

  beginning of year $52,588,975 · end of year $52,576,192

• 17 · Accounts payable and accrued expenses

  beginning of year $1,207,888 · end of year $4,701,469

• 19 · Deferred revenue

  beginning of year $338,581 · end of year $217,714

• 27 · Net assets without donor restrictions

  beginning of year $84,058,052 · end of year $87,610,830

The filer's explanations (Part III)

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 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 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, THE ARIZONA SPORTS FOUNDATION (ASF) PAYS ALL EMPLOYEES OF ASF AND ITS RELATED ORGANIZATIONS, VALLEY OF THE SUN BOWL FOUNDATION (VSFB), FIESTA EVENTS, INC. (FEI), AND ARIZONA COLLEGE FOOTBALL CHAMPIONSHIP FOUNDATION (ACFCF). EXPENSE ALLOCATIONS OF OFFICER, KEY EMPLOYEE AND STAFF COMPENSATED ARE MADE IN ACCORDANCE WITH THE EMPLOYEES' AVERAGE TIME DEVOTED TO EACH OF THE ORGANIZATIONS.