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← VEGAS GOLDEN KNIGHTS FOUNDATION INC

Form 990 for tax year 2023

Filed by VEGAS GOLDEN KNIGHTS FOUNDATION INC.

Totals

Total revenue
$5,081,109
Total expenses
$2,658,470
Contributions and grants received
$1,694,128
Grants paid
$1,651,607
Program service revenue
$0
Investment income
$249,932
Other revenue
$3,137,049
Total assets, end of year
$7,332,476
Total liabilities, end of year
$316,182
Net assets or fund balances, end of year
$7,016,294
Program services expenses (Part IX)
$1,993,864
Management and general expenses
$164,542
Fundraising expenses
$500,064
Program service expenses (Part III)
$1,993,864

Program services were 75.0% 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.

  • 1d · Related organizations

    $296,782

  • 1f · All other contributions, gifts and grants

    $1,397,346

  • 3 · Investment income

    total $249,932 · excluded $249,932

  • 8a · Fundraising events: gross income

    $2,160,239

  • 8b · Fundraising events: direct expenses

    $470,150

  • 8c · Net income from fundraising events

    total $1,690,089 · excluded $1,690,089

  • 9a · Gaming: gross income

    $2,718,674

  • 9b · Gaming: direct expenses

    $1,271,714

  • 9c · Net income from gaming

    total $1,446,960 · excluded $1,446,960

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,651,607 · program services $1,651,607

  • 7 · Other salaries and wages

    total $363,944 · program services $130,180 · management and general $82,400 · fundraising $151,364

  • 10 · Payroll taxes

    total $31,615 · program services $10,462 · management and general $6,603 · fundraising $14,550

  • 11c · Fees: accounting

    total $37,200 · management and general $37,200

  • 11g · Fees: other

    total $35,046 · program services $1,500 · management and general $4,129 · fundraising $29,417

  • 12 · Advertising and promotion

    total $211,181 · program services $182,988 · management and general $574 · fundraising $27,619

  • 13 · Office expenses

    total $17,490 · management and general $16,048 · fundraising $1,442

  • 14 · Information technology

    total $4,578 · management and general $4,578

  • 17 · Travel

    total $33,323 · program services $8,340 · fundraising $24,983

  • 22 · Depreciation, depletion and amortization

    total $5,304 · program services $3,407 · management and general $1,897

  • 23 · Insurance

    total $14,167 · program services $5,361 · management and general $8,040 · fundraising $766

  • 24a · Other expenses: RAFFLE COSTS

    total $245,691 · fundraising $245,691

  • 24b · Other expenses: MISCELLANEOUS

    total $7,324 · program services $19 · management and general $3,073 · fundraising $4,232

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,845,520 · end of year $7,094,423

  • 3 · Pledges and grants receivable

    beginning of year $183,621 · end of year $123,243

  • 4 · Accounts receivable

    beginning of year $70,665 · end of year $95,164

  • 9 · Prepaid expenses and deferred charges

    beginning of year $20,097 · end of year $7,517

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

    $29,024

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

    $16,895

  • 10c · Land, buildings and equipment, net

    beginning of year $17,432 · end of year $12,129

  • 17 · Accounts payable and accrued expenses

    beginning of year $391,228 · end of year $316,182

  • 19 · Deferred revenue

    beginning of year $152,452

  • 27 · Net assets without donor restrictions

    beginning of year $4,533,655 · end of year $7,016,294

  • 28 · Net assets with donor restrictions

    beginning of year $60,000 · end of year $0

Mission and programs · 2023

Mission

THE VEGAS GOLDEN KNIGHTS FOUNDATION IS A 501(C)(3) ORGANIZATION THAT SERVES AS THE PRIMARY CHARITABLE LINK BETWEEN THE NHL TEAM AND THE LAS VEGAS COMMUNITY.THROUGH OUR NAMESAKE FOUNDATION, THE VEGAS GOLDEN KNIGHTS SUPPORT LAS VEGAS NON-PROFITS THAT MAKE A DIFFERENCE EVERY DAY VIA DIRECT GRANTS AND FUNDRAISING PARTNERSHIPS. THESE INIATIVES ARE FUNDED THROUGH CORPORATE SPONSORSHIPS, TICKET SALES, SIGNATURE EVENTS, IN-GAME PROGRAMS, AND MERCHANDISE SALES. AS LAS VEGAS' FIRST MAJOR PROFESSIONAL SPORTS TEAM, THE VEGAS GOLDEN KNIGHTS RECOGNIZE AND EMBRACE OUR DUTY TO STREGTHEN AND INSPIRE OUR COMMUNITY.OUR PLAYERS, COACHES AND STAFF ENTHUSIASTICALLY SET THE EXAMPLE FOR OUR LOYAL FANS, WHOM WE HOPE TO ENCOURAGE TO BECOME AGENTS OF GROWTH AND CHANGE THEMSELVES.

Activities or mission (Part I)

THE VEGAS GOLDEN KNIGHTS FOUNDATION IS A 501(C)(3) ORGANIZATION THAT SERVES AS THE PRIMARY CHARITABLE LINK BETWEEN THE NHL TEAM AND THE LAS VEGAS COMMUNITY.

  • THROUGH OUR NAMESAKE FOUNDATION, THE VEGAS GOLDEN KNIGHTS SUPPORT LAS VEGAS NON-PROFITS THAT MAKE A DIFFERENCE EVERY DAY VIA DIRECT GRANTS AND FUNDRAISING PARTNERSHIPS.

    Expenses $1,651,607 · Grants $1,651,607

  • THE FOUNDATION ALSO FOCUSES ON A) SECURING THE FUTURE OF LAS VEGAS MILITARY, FIRST RESPONDERS, AND THEIR FAMILIES, ESPECIALLY THOSE WHO HAVE SUFFERED A SACRIFICE FOR THE GREATER GOOD AND B) FOSTERING THE PHYSICAL, SOCIAL, AND EMOTIONAL GROWTH OF LAS VEGAS YOUTH, WITH EMPHASIS ON SPORTS.

    Expenses $342,257

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • WILLIAM P FOLEY II

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • PETER SADOWSKI

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • KIM FRANK

    PRESIDENT

    Total calculated
    $257,233
    From this org
    $0
    From related orgs
    $257,233
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $0 + $241,656 related
    Bonus
    $0
    Other
    $0 + $15,577 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $257,233 related

  • GEORGE MCPHEE

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KERRY BUBOLZ

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BRYAN COY

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • DERYK ENGELLAND

    SPECIAL ASSISTANT

    Total calculated
    $155,000
    From this org
    $0
    From related orgs
    $155,000
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $155,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $155,000 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

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.

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
2023
Filed
30 October 2024
IRS schema version
2023v5.1
Source object
202413049349301606

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