Skip to content
Nonprofiteer
← PRINCETON NATIONAL ROWING ASSOCIATION

Form 990 for tax year 2022

Filed by PRINCETON NATIONAL ROWING ASSOCIATION.

Totals

Total revenue
$1,777,211
Total expenses
$1,611,856
Contributions and grants received
$203,552
Grants paid
$0
Program service revenue
$1,538,065
Investment income
$19,221
Other revenue
$16,373
Total assets, end of year
$4,200,421
Total liabilities, end of year
$92,125
Net assets or fund balances, end of year
$4,108,296
Program services expenses (Part IX)
$1,480,881
Management and general expenses
$117,813
Fundraising expenses
$13,162
Program service expenses (Part III)
$1,480,881

Program services were 91.9% 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.

  • 1f · All other contributions, gifts and grants

    $203,552

  • 1g · Noncash contributions included above

    $57,040

  • 2a · Program service revenue: PROGRAM FEES

    total $930,856 · related or exempt $930,856

  • 2b · Program service revenue: EVENT REVENUE

    total $358,480 · related or exempt $358,480

  • 2c · Program service revenue: BOATHOUSE OPERATIONS

    total $186,648 · related or exempt $186,648

  • 2d · Program service revenue: FACILITY FEES

    total $52,250 · related or exempt $52,250

  • 2e · Program service revenue: STUDENT UNIFORM FEES

    total $9,831 · related or exempt $9,831

  • 3 · Investment income

    total $1,507 · excluded $1,507

  • 7a · Gross sales of assets other than inventory

    securities $57,025 · other assets $27,825

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

    securities $57,040 · other assets $10,096

  • 7c · Gain or loss

    securities -$15 · other assets $17,729

  • 7d · Net gain or loss

    total $17,714 · excluded $17,714

  • 10a · Gross sales of inventory

    $33

  • 10b · Cost of goods sold

    $100

  • 10c · Net income from sales of inventory

    total -$67 · unrelated business -$67

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $16,440 · excluded $16,440

  • 11e · Other revenue, total

    $16,440

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $133,627 · program services $109,327 · management and general $20,655 · fundraising $3,645

  • 7 · Other salaries and wages

    total $424,110 · program services $415,674 · management and general $1,169 · fundraising $7,267

  • 9 · Other employee benefits

    total $23,196 · program services $23,196

  • 10 · Payroll taxes

    total $46,135 · program services $43,367 · management and general $1,845 · fundraising $923

  • 11b · Fees: legal

    total $10,407 · management and general $10,407

  • 11c · Fees: accounting

    total $34,323 · management and general $34,323

  • 11g · Fees: other

    total $17,302 · program services $8,651 · management and general $8,651

  • 12 · Advertising and promotion

    total $14,905 · program services $12,670 · management and general $1,490 · fundraising $745

  • 13 · Office expenses

    total $12,945 · program services $9,392 · management and general $3,031 · fundraising $522

  • 14 · Information technology

    total $6,126 · program services $2,450 · management and general $3,676

  • 16 · Occupancy

    total $123,135 · program services $113,837 · management and general $9,298

  • 17 · Travel

    total $220,795 · program services $218,656 · management and general $2,139

  • 22 · Depreciation, depletion and amortization

    total $163,851 · program services $154,020 · management and general $9,831

  • 23 · Insurance

    total $32,127 · program services $28,047 · management and general $4,080

  • 24a · Other expenses: MJRC-COMPETITION & FEES

    total $103,679 · program services $103,679

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $41,455 · program services $41,455

  • 24c · Other expenses: PARK FEES/PERMITS/LICEN

    total $34,098 · program services $34,098

  • 24d · Other expenses: APPAREL COSTS

    total $30,852 · program services $30,852

  • 24e · All other expenses

    total $138,788 · program services $131,510 · management and general $7,218 · fundraising $60

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,209,828 · end of year $1,249,112

  • 2 · Savings and temporary cash investments

    beginning of year $925,479 · end of year $1,084,793

  • 3 · Pledges and grants receivable

    beginning of year $83,903 · end of year $77,268

  • 4 · Accounts receivable

    beginning of year $32,150 · end of year $31,600

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,341 · end of year $6,435

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

    $4,213,617

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

    $2,467,503

  • 10c · Land, buildings and equipment, net

    beginning of year $1,774,836 · end of year $1,746,114

  • 14 · Intangible assets

    beginning of year $2,841 · end of year $2,464

  • 15 · Other assets

    beginning of year $0 · end of year $2,635

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,801 · end of year $9,854

  • 19 · Deferred revenue

    beginning of year $79,636 · end of year $79,636

  • 25 · Other liabilities

    beginning of year $0 · end of year $2,635

  • 27 · Net assets without donor restrictions

    beginning of year $3,098,569 · end of year $3,129,160

  • 28 · Net assets with donor restrictions

    beginning of year $844,372 · end of year $979,136

Mission and programs · 2022

Mission

The mission of Princeton National Rowing Association is to provide a venue where athletes of all ages, talents and backgrounds have the opportunity to develop their rowing abilities to their highest potential.Core Implementation Principles1) Maintaining and constantly seeking to improve one of the nation's premier rowing venues.2) Providing a world class training facility for all PNRA constituents including Olympic and elite team members,local students and Masters rowers.3) Promoting opportunities for area youth to excel in the sport of rowing.4) Conducting top level regattas and events5) Supporting community development across greater Mercer County through targeted rowing programs.

Activities or mission (Part I)

to provide a venue where athletes of all ages, talents and backgrounds have the opportunity to develop their rowing abilities to their highest potential.Core Implementation Principles1) Maintaining and constantly seeking to improve one of the nation's premier rowing venues.2) Providing a world class training facility for all PNRA constituents including Olympic and elite team members,local students and Masters rowers.3) Promoting opportunities for area youth to excel in the sport of rowing.4) Conducting top level regattas and events5) Supporting community development across greater Mercer County through targeted rowing programs.

  • The Princeton National Rowing Association (PNRA) operates the Mercer Junior Rowing Club which provides opportunities for 200 student athletes from over 30 area high schools to benefit from the structure, discipline and exercise of rowing. The Mercer Junior Rowing Club competes both locally and nationally. As part of its mission, PNRA works with local community groups and Trenton area schools to enable student athletes from the urban Trenton area to benefit from the sport of rowing. These outreach activities included dedicated programs for middle school students and integrating high school age students into the Mercer Junior Rowing Program. PNRA's outreach activities include integrating rowing as a part of the physical education curriculum in the schools, the Swim to Row Program, a STEM to Stern Program, and partnering with other community groups.

    Expenses $1,106,229 · Revenue $911,647

  • Princeton National Rowing Association operates summer camps out of the Caspersen Rowing Facility. The camps include learning to row day camps designed to introduce youth to the sport of rowing.

    Expenses $75,097 · Revenue $105,284

  • Princeton National Rowing Association hosts numerous rowing regattas throughout the year, drawing teams from around the country to compete. Competitions include local junior regattas,collegiate and national championship regattas and national team selection events. Mercer County Park and Mercer Lake with the infrastructure installed and maintained by Princeton National Rowing Association is recognized as one of the premiere rowing venues in the United States. The Princeton National Rowing Association also runs indoor rowing competitions.

    Expenses $232,252 · Revenue $360,391

  • As an official USRowing National Team training site, Princeton National Rowing Association provides a home for the selection and training of the United States Rowing Association's national team which represents the United States in international competition including the Olympics. The majority of the US Rowing National Team selection events occur on Mercer Lake and are hosted by the Princeton National Rowing Association.

    Expenses $15,253 · Revenue $78,056

  • Princeton National Rowing Association operates the Mercer Masters Rowing which provides rowing and sculling opportunities to adults ranging from learn to row to competitive rowing and an adult summer rowing league. PNRA also conducts adult rowing outreach activities for the greater Trenton area.

    Expenses $52,050 · Revenue $82,687

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

Listed in Part VII

  • Ronald Chen

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • James Millar

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Kristopher Grudt

    EXECUTIVE DIRECTOR/SECRETA

    Total calculated
    $133,551
    From this org
    $121,500
    From related orgs
    $0
    Other
    $12,051
    Hours/week
    40

  • Ken Weinstein

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bernadette Teeley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michael Zimmer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Thad Lepcio

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Gudi Bigga

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
27 February 2024
IRS schema version
2022v5.0
Source object
202410589349300741

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

The source document this was parsed from is served over the API, which is where bulk and document access live.