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← USSA INVESTMENT FUND

Form 990 for tax year 2024

Filed by USSA INVESTMENT FUND.

Totals

Total revenue
$4,349,836
Total expenses
$2,934,247
Contributions and grants received
$1,015,782
Grants paid
$2,699,353
Program service revenue
$0
Investment income
$3,334,054
Other revenue
$0
Total assets, end of year
$78,475,990
Total liabilities, end of year
$52,855
Net assets or fund balances, end of year
$78,423,135
Program services expenses (Part IX)
$2,699,353
Management and general expenses
$234,894
Fundraising expenses
$0
Program service expenses (Part III)
$2,699,353

Program services were 92.0% 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

    $1,015,782

  • 1g · Noncash contributions included above

    $53,532

  • 3 · Investment income

    total $1,746,812 · unrelated business -$49,957 · excluded $1,796,769

  • 7a · Gross sales of assets other than inventory

    securities $21,072,181

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

    securities $19,484,939

  • 7c · Gain or loss

    securities $1,587,242

  • 7d · Net gain or loss

    total $1,587,242 · excluded $1,587,242

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,699,353 · program services $2,699,353

  • 11c · Fees: accounting

    total $9,454 · management and general $9,454

  • 11f · Fees: investment management

    total $225,282 · management and general $225,282

  • 24a · Other expenses: Income Taxes

    total $128 · management and general $128

  • 24b · Other expenses: Bank Fees

    total $30 · management and general $30

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $50 · end of year $51

  • 4 · Accounts receivable

    end of year $258

  • 11 · Investments: publicly traded securities

    beginning of year $46,679,896 · end of year $42,621,188

  • 12 · Investments: other securities

    beginning of year $27,032,921 · end of year $35,854,493

  • 25 · Other liabilities

    beginning of year $43,273 · end of year $52,855

  • 27 · Net assets without donor restrictions

    beginning of year $2,022,243 · end of year $2,124,728

  • 28 · Net assets with donor restrictions

    beginning of year $71,647,351 · end of year $76,298,407

Mission and programs · 2024

Mission

Operates exclusively to manage the investment of endowment gifts made for the benefit of supporting the development, training, and competition of elite national, international, and development athletes in skiing and snowboarding.

Activities or mission (Part I)

Operates as a support organization for the United States Ski Association.

  • Support the development of world-class athletes through grants to the United States Ski Association and the United States Ski Team Foundation.

    Expenses $2,699,353 · Grants $2,699,353

As filed on the 2024 return.

Listed in Part VII

  • Keith Pennell

    Investment Committee Chair

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Brian Leach

    Investment Committee Vice-Chair

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Kipp Nelson

    U.S. Ski Association Chair

    Total calculated
    $0
    Hours/week
    1 + 2.3 related

  • Steve Strandberg

    U.S. Ski Association Vice-Chair

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Brooke McAffee

    Treasurer/Secretary - CFO

    Total calculated
    $381,540
    From this org
    $27,840
    From related orgs
    $343,355
    Other
    $10,345
    Hours/week
    3 + 37 related

    Schedule J breakdown matched by us

    Base
    $22,417 + $276,473 related
    Bonus
    $5,423 + $66,882 related
    Other
    $0
    Deferred
    $776 + $9,569 related
    Nontaxable benefits
    $0
    Filer's total
    $28,616 + $352,924 related

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

None.

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

The filer's explanations (Part III)

Part I, Line 3
All compensation is paid through a related tax exempt entity, the United States Ski Association. The Board of the United States Ski Association appoints a compensation committee, comprised solely of independent directors, none of whom have a conflict of interest with respect to the compensation arrangement, to be accountable for setting reasonable compensation packages for each officer and key employee. The compensation committee reviews the compensation each year and a compensation study is performed as needed.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2024
Filed
5 February 2026
IRS schema version
2024v5.5
Source object
202630409349300438

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