Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $3,767

• 2a · Program service revenue: TOURNAMENT INCOME

  total $10,266,619 · related or exempt $10,266,619

• 3 · Investment income

  total $83,734 · excluded $83,734

• 7a · Gross sales of assets other than inventory

  securities $1,290,000

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

  securities $1,290,000

• 7c · Gain or loss

  securities $0

• 8a · Fundraising events: gross income

  $3,650

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $3,650 · excluded $3,650

• 10a · Gross sales of inventory

  $2,958,851

• 10b · Cost of goods sold

  $1,400,298

• 10c · Net income from sales of inventory

  total $1,558,553 · related or exempt $1,558,553

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,374,672 · program services $2,374,672

• 5 · Compensation of officers, directors and key employees

  total $169,181 · management and general $169,181

• 7 · Other salaries and wages

  total $403,990 · program services $403,990

• 9 · Other employee benefits

  total $18,516 · program services $17,138 · management and general $1,378

• 10 · Payroll taxes

  total $44,280 · program services $33,463 · management and general $10,817

• 11b · Fees: legal

  total $4,406 · program services $4,406

• 11c · Fees: accounting

  total $21,364 · program services $10,682 · management and general $10,682

• 12 · Advertising and promotion

  total $9,907 · program services $9,907

• 13 · Office expenses

  total $179,645 · program services $89,823 · management and general $89,822

• 16 · Occupancy

  total $116,460 · program services $116,460

• 17 · Travel

  total $8,189 · program services $8,189

• 19 · Conferences, conventions and meetings

  total $12,787 · program services $12,787

• 22 · Depreciation, depletion and amortization

  total $27,492 · program services $27,492

• 23 · Insurance

  total $60,965 · program services $60,965

• 24a · Other expenses: PRIZES

  total $6,729,300 · program services $6,729,300

• 24b · Other expenses: TOURNAMENT FUNCTIONS

  total $988,853 · program services $988,853

• 24c · Other expenses: BANK CHARGES

  total $88,292 · program services $88,292

• 24d · Other expenses: CONTRACT SERVICES

  total $72,806 · program services $72,806

• 24e · All other expenses

  total $41,316 · program services $41,316

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,253 · end of year $2,887

• 2 · Savings and temporary cash investments

  beginning of year $531,616 · end of year $1,305,455

• 8 · Inventories for sale or use

  beginning of year $248,329 · end of year $238,438

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

  $336,815

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

  $171,522

• 10c · Land, buildings and equipment, net

  beginning of year $192,785 · end of year $165,293

• 12 · Investments: other securities

  beginning of year $684,698 · end of year $1,498,698

• 15 · Other assets

  beginning of year $6,125 · end of year $354,828

• 17 · Accounts payable and accrued expenses

  beginning of year $255,665 · end of year $1,600,990

• 25 · Other liabilities

  beginning of year $6,959 · end of year $17,525

• 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 $1,403,182 · end of year $1,947,084

The filer's explanations (Part III)

PART I, LINE 5

EXECUTIVE DIRECTOR'S COMMISSIONS BASED ON SPONSORSHIP LEVELS OBTAINED DURING THE FISCAL YEAR AND BONUSES ARE BASED ON ADHERING TO THE ANNUAL BUDGET.