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Nonprofiteer
← USA DIVING INC

Form 990 for tax year 2023

Filed by USA DIVING INC.

Totals

Total revenue
$3,519,608
Total expenses
$3,712,960
Contributions and grants received
$2,902,491
Grants paid
$43,000
Program service revenue
$567,883
Investment income
$31,625
Other revenue
$17,609
Total assets, end of year
$1,840,923
Total liabilities, end of year
$727,486
Net assets or fund balances, end of year
$1,113,437
Program services expenses (Part IX)
$2,466,810
Management and general expenses
$971,612
Fundraising expenses
$274,538
Program service expenses (Part III)
$2,466,810

Program services were 66.4% 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.

  • 1b · Membership dues

    $791,944

  • 1d · Related organizations

    $607,920

  • 1f · All other contributions, gifts and grants

    $1,502,627

  • 1g · Noncash contributions included above

    $96,536

  • 2a · Program service revenue: OTHER EVENT INCOME

    total $536,474 · related or exempt $536,474

  • 2b · Program service revenue: MASTERS PROGRAM

    total $31,409 · related or exempt $31,409

  • 3 · Investment income

    total $58,897 · excluded $58,897

  • 7a · Gross sales of assets other than inventory

    securities $125,155

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

    securities $152,427

  • 7c · Gain or loss

    securities -$27,272

  • 7d · Net gain or loss

    total -$27,272 · excluded -$27,272

  • 10a · Gross sales of inventory

    $26,164

  • 10b · Cost of goods sold

    $8,605

  • 10c · Net income from sales of inventory

    total $17,559 · related or exempt $17,559

  • 11a · Other revenue: OTHER INCOME

    total $50 · related or exempt $50

  • 11e · Other revenue, total

    $50

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $38,000 · program services $38,000

  • 2 · Grants to domestic individuals

    total $5,000 · program services $5,000

  • 5 · Compensation of officers, directors and key employees

    total $249,950 · program services $172,822 · management and general $63,779 · fundraising $13,349

  • 7 · Other salaries and wages

    total $517,891 · program services $358,709 · management and general $132,372 · fundraising $26,810

  • 8 · Pension plan contributions

    total $17,106 · program services $11,088 · management and general $4,103 · fundraising $1,915

  • 9 · Other employee benefits

    total $111,423 · program services $72,226 · management and general $26,727 · fundraising $12,470

  • 10 · Payroll taxes

    total $61,307 · program services $39,740 · management and general $14,705 · fundraising $6,862

  • 11b · Fees: legal

    total $180,228 · program services $35,019 · management and general $145,209

  • 11f · Fees: investment management

    total $5,093 · management and general $5,093

  • 11g · Fees: other

    total $193,633 · program services $37,624 · management and general $156,009

  • 12 · Advertising and promotion

    total $56,504 · program services $8,479 · management and general $26,828 · fundraising $21,197

  • 13 · Office expenses

    total $38,144 · program services $18,405 · management and general $19,739

  • 17 · Travel

    total $881,212 · program services $439,917 · management and general $280,087 · fundraising $161,208

  • 20 · Interest

    total $18,699 · management and general $18,699

  • 23 · Insurance

    total $504,234 · program services $492,374 · management and general $11,860

  • 24a · Other expenses: ATHLETE SUPPORT

    total $519,532 · program services $519,532

  • 24b · Other expenses: EVENT VENUES

    total $278,529 · program services $201,682 · management and general $46,120 · fundraising $30,727

  • 24c · Other expenses: EDUCATION

    total $22,494 · program services $15,720 · management and general $6,774

  • 24d · Other expenses: BANK AND CREDIT CARD FE

    total $11,615 · program services $0 · management and general $11,615

  • 24e · All other expenses

    total $2,366 · program services $473 · management and general $1,893

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $880,113 · end of year $765,294

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $10,401

  • 4 · Accounts receivable

    beginning of year $128,292 · end of year $81,616

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $226,829

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,282 · end of year $168,616

  • 11 · Investments: publicly traded securities

    beginning of year $499,409 · end of year $550,667

  • 15 · Other assets

    beginning of year $0 · end of year $37,500

  • 17 · Accounts payable and accrued expenses

    beginning of year $299,422 · end of year $185,126

  • 19 · Deferred revenue

    beginning of year $66,332 · end of year $342,360

  • 23 · Secured mortgages and notes payable

    beginning of year $197,435 · end of year $200,000

  • 27 · Net assets without donor restrictions

    beginning of year $702,910 · end of year $891,936

  • 28 · Net assets with donor restrictions

    beginning of year $247,997 · end of year $221,501

Mission and programs · 2023

Mission

TO SUPPORT U.S. OLYMPIC AND PARALYMPIC ATHLETES IN ACHIEVING SUSTAINED COMPETITIVE EXCELLENCE WHILE DEMONSTRATING THE VALUES OF THE OLYMPIC MOVEMENT, THEREBY INSPIRING ALL AMERICANS.

Activities or mission (Part I)

TO SUPPORT U.S. OLYMPIC AND PARALYMPIC ATHLETES IN ACHIEVING SUSTAINED COMPETITIVE EXCELLENCE.

  • MEMBER SERVICES INCLUDE THE PUBLICATION OF "INSIDE USA DIVING AND PROVISION OF MEMBER BENEFITS SUCH AS SPORT ACCIDENT INSURANCE, SAFETY EDUCATION.

    Expenses $996,499 · Revenue $536,474

  • COMPETITION PROGRAM EXPENSES INCLUDE COSTS INCURRED TO TRAIN ATHLETES, CONDUCT DOMESTIC COMPETITIONS AND SEND TEAMS TO INTERNATIONAL COMPETITIONS. EXPENSES INCLUDE TRAVEL, CONTRACT LABOR, LODGING AND MEALS, AND ATHLETE TRAINING COSTS SUCH AS SPORTS SCIENCE.

    Expenses $1,470,311 · Revenue $49,018

As filed on the 2023 return.

Listed in Part VII

  • Dave Gascon

    CHAIR OF THE BOARD

    Total calculated
    $0
    Hours/week
    1

  • Dan Eddingfield

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Dave Farnsworth

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Sarah Morrison

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Keven Ellison

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ginaia Kelly

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Preston McAfee

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michelle Palmer

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jason Baumann

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lauren Reedy

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Samantha Pickens

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Anderson

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ben Bramley

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Steven Lobue

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lewis Fellinger

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lee Michaud

    PRESIDENT

    Total calculated
    $249,950
    From this org
    $243,150
    From related orgs
    $0
    Other
    $6,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,000
    Bonus
    $31,314
    Other
    $11,836
    Deferred
    $6,800
    Nontaxable benefits
    $0
    Filer's total
    $249,950

  • Leslie Adams

    HIGH PERFORMANCE DIRECTOR

    Total calculated
    $116,900
    From this org
    $113,500
    From related orgs
    $0
    Other
    $3,400
    Hours/week
    40

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

  • 1a · Discretionary spending account
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 5a · Pay contingent on this organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 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 5
LEE MICHAUD EARNED $12,690 IN COMMISSION FROM REVENUE GENERATED IN 2023.

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

  • HASTINGS COMMUNITY DIVING CLUB

    $10,000

    CLUB DIVING

  • DIVERVA

    $10,000

    CLUB DIVING

  • NORTH STAR DIVING CLUB

    $8,000

    CLUB DIVING

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.

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.1
Source object
202433189349308173

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