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Nonprofiteer
← WORLD SPORTS INC

Form 990 for tax year 2024

Filed by WORLD SPORTS INC.

Totals

Total revenue
$2,534,990
Total expenses
$2,770,657
Contributions and grants received
$2,375,558
Grants paid
$2,244,515
Program service revenue
$37,742
Investment income
$120,953
Other revenue
$737
Total assets, end of year
$3,697,503
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$3,697,503
Program services expenses (Part IX)
$2,672,551
Management and general expenses
$98,106
Fundraising expenses
$0
Program service expenses (Part III)
$2,672,551

Program services were 96.5% 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

    $2,375,558

  • 2a · Program service revenue: CONFERENCE INCOME

    total $37,742 · related or exempt $37,742

  • 3 · Investment income

    total $117,813 · excluded $117,813

  • 7a · Gross sales of assets other than inventory

    securities $3,140

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

    securities $0

  • 7c · Gain or loss

    securities $3,140

  • 7d · Net gain or loss

    total $3,140 · excluded $3,140

  • 11a · Other revenue: VALUATION ADJUSTMENT

    total $737 · related or exempt $737

  • 11e · Other revenue, total

    $737

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $300,000 · program services $300,000

  • 2 · Grants to domestic individuals

    total $6,000 · program services $6,000

  • 3 · Grants to foreign organizations and individuals

    total $1,938,515 · program services $1,938,515

  • 5 · Compensation of officers, directors and key employees

    total $176,176 · program services $147,798 · management and general $28,378

  • 9 · Other employee benefits

    total $15,986 · program services $13,588 · management and general $2,398

  • 10 · Payroll taxes

    total $13,008 · program services $10,837 · management and general $2,171

  • 11c · Fees: accounting

    total $11,250 · management and general $11,250

  • 11g · Fees: other

    total $13,245 · management and general $13,245

  • 12 · Advertising and promotion

    total $12,773 · management and general $12,773

  • 13 · Office expenses

    total $2,089 · management and general $2,089

  • 16 · Occupancy

    total $9,305 · management and general $9,305

  • 17 · Travel

    total $25,919 · program services $25,919

  • 19 · Conferences, conventions and meetings

    total $229,632 · program services $229,632

  • 22 · Depreciation, depletion and amortization

    total $423 · management and general $423

  • 24a · Other expenses: SS - INTERNET, PHONE, B

    total $13,081 · management and general $13,081

  • 24b · Other expenses: SS - SERVICE CHARGES

    total $2,993 · management and general $2,993

  • 24c · Other expenses: PRG- MEDIA

    total $262 · program services $262

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,078 · end of year $29,569

  • 2 · Savings and temporary cash investments

    beginning of year $3,041,816 · end of year $2,051,570

  • 7 · Other notes and loans receivable

    beginning of year $40,000 · end of year $40,000

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

    $9,001

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

    $8,755

  • 10c · Land, buildings and equipment, net

    beginning of year $669 · end of year $246

  • 11 · Investments: publicly traded securities

    beginning of year $796,189 · end of year $1,532,570

  • 15 · Other assets

    beginning of year $27,350 · end of year $43,548

  • 27 · Net assets without donor restrictions

    beginning of year $3,926,102 · end of year $3,697,503

Mission and programs · 2024

Mission

TO ENCOURAGE AND STIMULATE NATIONAL SPORTS MINISTRIES IN ALL COUNTRIES

Activities or mission (Part I)

TO ENCOURAGE SPORTS MINISTRY DEVELOPMENTS INTERNATIONALLY AND IN THE USA.

  • WORLD SPORTS FUNDS SPORTS MINISTRY TRAINING CONFERENCES INTERNATIONALLY AND IN THE USA. THE FIVE DAY TO THREE MONTH TRAININGS ARE FOR SPORT AND PLAY LEADERS TO LEARN TO SERVE CHILDREN, YOUTH AND COMPETITIVE ATHLETES. THE TRAININGS ALSO TEACH ATHLETES AND COMMUNITY GROUPS HOW TO SERVE THEIR CITY DURING REGIONAL AND GLOBAL SPORTS EVENTS. THE STRUCTURED TRAININGS PROVIDES CERTIFICATION OF OUTCOMES. OVER 147,000 ARE TRAINED ANNUALLY.

    Expenses $2,672,551 · Grants $2,244,515 · Revenue $38,479

  • OTHER PROGRAM SERVICES - MISCELLANEOUS PROGRAM SERVICES THAT PROVIDED ADDITIONAL FUNDS TO ENCOURAGE SPORTS DEVELOPMENT IN ALL COUNTRIES.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • EDWARD P WAXER

    PRESIDENT

    Total calculated
    $176,176
    From this org
    $176,176
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,176
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $176,176

  • CARY DRAKE

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • AUSTIN CARR

    CORRESPONDING SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • HUGH MORRIS

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • JOHN YIP

    VP

    Total calculated
    $0
    Hours/week
    0

  • IVAN BYCHKOV

    MR

    Total calculated
    $0
    Hours/week
    0

  • DAN CALDWELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

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

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

Provenance

Return type
form_990
Tax year
2024
Filed
29 October 2025
IRS schema version
2024v5.2
Source object
202533029349301738

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