Civic Intelligence

Polo Training Foundation

990 • Fiscal year 2016 • EIN 36-2605713

Jul 01, 2015 to Jun 30, 2016 • Filed on Oct 26, 2016

70 Clinton StreetTully, NY 13159

(315) 696-5070

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

21st percentile

0.00x

Higher debt load relative to assets than 21% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

26th percentile

0.02x

Higher debt load relative to revenue than 26% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

70th percentile

11%

Higher net margin than 70% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

73rd percentile

$110,252

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 16.6% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

28th percentile

-3.3%

Faster asset growth than 28% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

39th percentile

-1.0%

Faster revenue growth than 39% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$3,478,025

Down $117,882 (-3.3%) from 2015

Net Assets

Down

$3,462,737

Down $119,824 (-3.3%) from 2015

Liabilities

Up

$15,288

Up $1,942 (+15%) from 2015

Revenue

Down

$665,077

Down $6,625 (-1.0%) from 2015

Expenses

Up

$591,736

Up $56,124 (+10%) from 2015

Net Income

Down

$73,341

Down $62,749 (-46%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2011: $3,553,231Liabilities 2011: $54,603Net Assets 2011: $3,498,6282011Assets 2013: $3,431,083Liabilities 2013: $36,374Net Assets 2013: $3,394,7092013Assets 2015: $3,595,907Liabilities 2015: $13,346Net Assets 2015: $3,582,5612015Assets 2016: $3,478,025Liabilities 2016: $15,288Net Assets 2016: $3,462,7372016Assets 2017: $3,786,679Liabilities 2017: $39,758Net Assets 2017: $3,746,9212017Assets 2018: $3,961,669Liabilities 2018: $11,239Net Assets 2018: $3,950,4302018Assets 2019: $4,242,856Liabilities 2019: $20,307Net Assets 2019: $4,222,5492019Assets 2020: $4,731,536Liabilities 2020: $68,501Net Assets 2020: $4,663,0352020Assets 2021: $6,153,259Liabilities 2021: $69,672Net Assets 2021: $6,083,5872021Assets 2022: $5,812,031Liabilities 2022: $21,357Net Assets 2022: $5,790,6742022Assets 2025: $8,715,813Liabilities 2025: $3,311Net Assets 2025: $8,712,5022025

Highlighted filing

2016

Assets$3,478,025
Liabilities$15,288
Net Assets$3,462,737

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2011: $910,7702011Expenses 2013: $572,3292013Revenue 2015: $671,702Expenses 2015: $535,612Net Income 2015: $136,0902015Revenue 2016: $665,077Expenses 2016: $591,736Net Income 2016: $73,3412016Revenue 2017: $527,786Expenses 2017: $506,574Net Income 2017: $21,2122017Revenue 2018: $455,431Expenses 2018: $530,113Net Income 2018: -$74,6822018Revenue 2019: $523,005Expenses 2019: $522,807Net Income 2019: $1982019Revenue 2020: $512,281Expenses 2020: $513,164Net Income 2020: -$8832020Revenue 2021: $1,141,583Expenses 2021: $488,194Net Income 2021: $653,3892021Revenue 2022: $1,223,136Expenses 2022: $475,599Net Income 2022: $747,5372022Revenue 2025: $1,211,051Expenses 2025: $602,269Net Income 2025: $608,7822025

Highlighted filing

2016

Revenue$665,077
Expenses$591,736
Net Income$73,341
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Oct 26, 2016
Return Version
2015v2.1
Gross Receipts
$1,810,808
Mission and Program Overview

Mission

The polo training foundation's purpose is to establish and administer a series of funds, including memorial, advisory, international, endowment, intercollegiate/ interscholastic, and others. These funds are dedicated to support polo in collegiate or scholastic sports curriculums, promote international goodwill through polo competition, and above all, encourage development and sportsmanship through teaching young people the principles of the game of polo. Since 1967, the polo training foundation has been committed to excellence in the great sport of polo. The ptf supports polo training at all levels by providing funds for the development of current and future generations of players and umpires. Through its activities, the ptf seeks to encourage the highest standards of sportsmanship and to promote international good will through polo competition.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,097,972$2,970,657▼ $127,315
Land, Buildings, and Equipment, Net$229,259$229,259→ $0
Savings and Temporary Cash Investments$195,351$196,418▲ $1,067
Cash and Non-Interest-Bearing Accounts$28,073$59,754▲ $31,681
Pledges and Grants Receivable$20,000$0▼ $20,000
Accounts Receivable$18,000$16,019▼ $1,981
Total Assets$3,595,907$3,478,025▼ $117,882
Other Assets Total$7,252$5,918▼ $1,334
Liabilities
Accounts Payable and Accrued Expenses$13,346$15,288▲ $1,942
Total Liabilities$13,346$15,288▲ $1,942
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,901,668$2,901,668→ $0
Temporarily Rstr Net Assets$721,220$577,738▼ $143,482
Unrestricted Net Assets$-40,327$-16,669▲ $23,658
Total Net Assets Fund Balance$3,582,561$3,462,737▼ $119,824
Total Liabilities and Net Assets / Fund Balance$3,595,907$3,478,025▼ $117,882

Asset Categories

AssetBook ValueDepreciationBasis
Land$229,259-$229,259

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$3,573,083-▲ $36,703$188,073$3,421,713
2014$3,677,123$33,100▲ $41,727$178,867$3,573,083
2013$3,389,275-▲ $533,879$246,031$3,677,123
2012$3,206,407$50,000▲ $404,462$271,594$3,389,275
2011$3,400,176$60,000▼ $27,098$226,671$3,206,407
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Daniel M ScheragaExecutive DirectorFT$103,824$6,428$110,252

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$317,867
Program Service Revenue
$14,824
Investment Income
$260,800
Other Revenue
$71,586
All Other Contributions
$317,867
Change in Net Assets
$73,341

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table26$130,434Fair Market Value (FMV) at Date of Contr
Other Non Cash Contri Table2$3,071Fair Market Value (FMV) at Date of Contr
Total Noncash Contributions28$133,505-

Audited Revenue Reconciliation

Revenue per Audited Statements
$708,009
Revenue Not Reported on Financial Statements
$-42,932
Revenue Not Reported on Form 990
$-193,165
Other Revenue Adjustments
$-67,997
Total Revenue per Audited Statements
$514,844
Total Revenue per Form 990
$665,077
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$379,782
Salaries, Compensation, and Employee Benefits$211,954
Total Fundraising Expense$33,646
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$55,653$33,211$21,388$110,252
Other Salaries and Wages$73,093$3,776$529$77,398
Fees for Service Investment Mgmnt Fees-$25,065-$25,065
Office Expenses-$14,604$283$14,887
Fees for Services Accounting-$14,001-$14,001
Payroll Taxes$8,604$2,912$1,733$13,249
Other Expenses$18,426$12,000-$12,000
Fees for Services Legal-$11,360-$11,360
All Other Expenses-$1,856$9,317$11,173
Travel-$8,160-$8,160
Fees for Services Other-$7,835-$7,835
Other Employee Benefits$7,292--$7,292
Insurance$500$6,672-$7,172
Occupancy-$6,000-$6,000
Information Technology-$4,965-$4,965
Pension Plan Contributions$2,834$533$396$3,763
Conferences and Meetings-$3,422-$3,422
Total Functional Expenses$401,718$156,372$33,646$591,736

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$634,668
Total Expenses per Form 990$591,736
Expenses per Audited Statements$566,671
Expenses Not Reported on Form 990$67,997
Expenses Not Reported on Financial Statements$25,065
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$91,175
Fundraising Direct Expenses$30,628
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Florida Auction$69,526$69,526$29,703$39,823
Total Events$75,156$75,156$30,628$44,528
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The executive director receives the draft 990 from the auditor and reviews the form. The draft 990 is then sent to the board member/officer responsible for signing the form with a letter stating the executive director's approval. The board member/officer reviews the draft 990 and addresses any questions with the executive director. The 990 is filed once all questions have been addressed and all signatures obtained.

Form 990, Part VI, Section B, Line 12C

The foundation regularly and consistently monitors compliance with the conflict of interest policy by requiring board members to sign the policy on an annual basis.

Form 990, Part VI, Section B, Line 15

On at least an annual basis, the compensation for the executive director of the foundation is compared to other comparable foundation's using guidestar or other local information. The approval of the executive director's compensation is approved by the board of directors.

Form 990, Part VI, Section C, Line 19

The foundation's governing documents, conflict of interest policy, financial statements, and irs form 990 are available upon request.

Filing and Contact Details

Filer

Filer Name
Polo Training Foundation
EIN
36-2605713
Phone
3156965070
Address
70 CLINTON STREET, TULLY, NY 13159

Signing Officer

Name
Richard Riemenschneider
Title
Chairman
Phone
3156965070
Signed
2016-10-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Riemenschneider
Formed
1966
Legal Domicile
Ny
Voting Board Members
18
Independent Board Members
18
Employees
3
Volunteers
100

Preparer

Firm
Dermody Burke & Brown Cpas LLC
Address
443 N FRANKLIN ST STE 100, SYRACUSE, NY 13204-1441
Preparer
David J De Silva
Phone
3154719171
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The organization has not changed its oversight process during the tax year.

Financial Statement Notes

PART V, LINE 4:

The foundation's endowment funds have been established to further its mission.

PART X, LINE 2:

Management is unaware of any unrelated business activities that may be subject to unrelated business income tax or any activities that would jeopardize the foundation's exempt status.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Special events expense -30,628. Rental expense -37,369.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expense 37,369. Special events expense 30,628.

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IRS990/ActivityOrMissionDesc0THE POLO TRAINING FOUNDATION'S PURPOSE IS TO ESTABLISH AND ADMINISTER A SERIES OF FUNDS, INCLUDING MEMORIAL, ADVISORY, INTERNATIONAL, ENDOWMENT, INTERCOLLEGIATE/ INTERSCHOLASTIC, AND OTHERS. THESE FUNDS ARE DEDICATED TO SUPPORT POLO IN COLLEGIATE OR SCHOLASTIC SPORTS CURRICULUMS, PROMOTE INTERNATIONAL GOODWILL THROUGH POLO COMPETITION, AND ABOVE ALL, ENCOURAGE DEVELOPMENT AND SPORTSMANSHIP THROUGH TEACHING YOUNG PEOPLE THE PRINCIPLES OF THE GAME OF POLO. SINCE 1967, THE POLO TRAINING FOUNDATION HAS BEEN COMMITTED TO EXCELLENCE IN THE GREAT SPORT OF POLO. THE PTF SUPPORTS POLO TRAINING AT ALL LEVELS BY PROVIDING FUNDS FOR THE DEVELOPMENT OF CURRENT AND FUTURE GENERATIONS OF PLAYERS AND UMPIRES. THROUGH ITS ACTIVITIES, THE PTF SEEKS TO ENCOURAGE THE HIGHEST STANDARDS OF SPORTSMANSHIP AND TO PROMOTE INTERNATIONAL GOOD WILL THROUGH POLO COMPETITION.
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IRS990/Desc0YOUTH CLINICS - PLAYING POLO IS A CONFIDENCE BUILDER FOR BOTH HORSE AND RIDER. ANY BREED OF HORSE ALONG WITH ANY AGE OF RIDER CAN HAVE A GREAT TIME WITH POLO. POLO IS A FANTASTIC TEAM SPORT, WHICH CAN MAKE IT A FUN FAMILY ACTIVITY. AT THE HIGHER LEVELS IT IS AN EXHILARATING AND FAST-PACED SPORT.THE CLINIC GOAL IS TO HELP STUDENTS UNDERSTAND THE CONCEPTS, RULES, AND PRINCIPLES OF POLO. TO ACCOMPLISH THIS GOAL, PARTICIPANTS WILL RECEIVE INSTRUCTION THROUGH VIDEOS, DISCUSSION AND HANDS-ON LEARNING.THE PARTICIPANTS WILL:VIEW A USPA BLUE BOOK VIDEO GUIDE WHILE WILBUR EXPLAINS THE RULES OF THE GAME. IDENTIFY AND DEMONSTRATE THE FOUR BASIC MALLET STROKES. UNDERSTAND THE LINE OF THE BALL (LOB) AND THE RIGHT OF WAY LEARN THE CONCEPT OF THE MAN, LINE, BALL THEORY AND BEGINNING STRATEGY FOR POLO. PRACTICE THESE CONCEPTS WITH THE USE OF FOOT MALLETS WHILE UNMOUNTED. LEARN THE PROPER WAY TO PREPARE AND PROTECT YOUR HORSE FOR THE GAME AND HOW TO INTRODUCE YOUR HORSE TO MALLETS AND BALLS. LEARN SKILLS WHILE MOUNTED, PROGRESSING TO COACHED SCRIMMAGE GAMES. DISCUSS PLANS FOR THE CREATION OF A POLO CLUB OR INTERSCHOLASTIC/INTERCOLLEGIATE CLUB IF DESIRED. ADULT CLINICS - THE PTF WILL PAY HALF THE COST OF A PLAYER'S CLINIC CONDUCTED AT ANY USPA MEMBER CLUB, UP TO A MAXIMUM REIMBURSEMENT OF $1,000 TO THAT CLUB. THESE ARE GENERALLY THREE DAY CLINICS HELD OVER A WEEKEND BUT CAN BE OF LONGER DURATION.
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IRS990/Form990PartVIISectionAGrp/PersonNm18LYN JASON COBB
IRS990/Form990PartVIISectionAGrp/PersonNm19DANIEL W COLHOUN JR
IRS990/Form990PartVIISectionAGrp/PersonNm20JESSIE PRUITT
IRS990/Form990PartVIISectionAGrp/PersonNm21DANIEL M SCHERAGA
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
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IRS990/MissionDesc0THE POLO TRAINING FOUNDATION'S PURPOSE IS TO ESTABLISH AND ADMINISTER A SERIES OF FUNDS, INCLUDING MEMORIAL, ADVISORY, INTERNATIONAL, ENDOWMENT, INTERCOLLEGIATE/ INTERSCHOLASTIC, AND OTHERS. THESE FUNDS ARE DEDICATED TO SUPPORT POLO IN COLLEGIATE OR SCHOLASTIC SPORTS CURRICULUMS, PROMOTE INTERNATIONAL GOODWILL THROUGH POLO COMPETITION, AND ABOVE ALL, ENCOURAGE DEVELOPMENT AND SPORTSMANSHIP THROUGH TEACHING YOUNG PEOPLE THE PRINCIPLES OF THE GAME OF POLO. SINCE 1967, THE POLO TRAINING FOUNDATION HAS BEEN COMMITTED TO EXCELLENCE IN THE GREAT SPORT OF POLO. THE PTF SUPPORTS POLO TRAINING AT ALL LEVELS BY PROVIDING FUNDS FOR THE DEVELOPMENT OF CURRENT AND FUTURE GENERATIONS OF PLAYERS AND UMPIRES. THROUGH ITS ACTIVITIES, THE PTF SEEKS TO ENCOURAGE THE HIGHEST STANDARDS OF SPORTSMANSHIP AND TO PROMOTE INTERNATIONAL GOOD WILL THROUGH POLO COMPETITION.
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