Civic Intelligence

Polo Training Foundation

990 • Fiscal year 2018 • EIN 36-2605713

Jul 01, 2017 to Jun 30, 2018 • Filed on Sep 06, 2018

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

20th percentile

0.00x

Higher debt load relative to assets than 20% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

29th percentile

0.02x

Higher debt load relative to revenue than 29% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

16th percentile

-16%

Higher net margin than 16% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

74th percentile

$114,028

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 25.0% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

62nd percentile

4.6%

Faster asset growth than 62% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

18th percentile

-14%

Faster revenue growth than 18% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$3,961,669

Up $174,990 (+4.6%) from 2017

Net Assets

Up

$3,950,430

Up $203,509 (+5.4%) from 2017

Liabilities

Down

$11,239

Down $28,519 (-72%) from 2017

Revenue

Down

$455,431

Down $72,355 (-14%) from 2017

Expenses

Up

$530,113

Up $23,539 (+4.6%) from 2017

Net Income

Down

-$74,682

Down $95,894 (-452%) from 2017

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

2018

Assets$3,961,669
Liabilities$11,239
Net Assets$3,950,430

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

2018

Revenue$455,431
Expenses$530,113
Net Income-$74,682
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Sep 6, 2018
Return Version
2017v2.3
Gross Receipts
$1,384,155
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$3,248,740$3,654,217▲ $405,477
Land, Buildings, and Equipment, Net$229,259$229,259→ $0
Cash and Non-Interest-Bearing Accounts$147,242$33,877▼ $113,365
Savings and Temporary Cash Investments$134,015$28,778▼ $105,237
Pledges and Grants Receivable$21,505$7,400▼ $14,105
Prepaid Expenses and Deferred Charges-$2,202-
Total Assets$3,786,679$3,961,669▲ $174,990
Other Assets Total$5,918$5,936▲ $18
Liabilities
Accounts Payable and Accrued Expenses$39,758$11,239▼ $28,519
Total Liabilities$39,758$11,239▼ $28,519
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,901,668$2,901,668→ $0
Temporarily Rstr Net Assets$783,431$940,556▲ $157,125
Unrestricted Net Assets$61,822$108,206▲ $46,384
Total Net Assets Fund Balance$3,746,921$3,950,430▲ $203,509
Total Liabilities and Net Assets / Fund Balance$3,786,679$3,961,669▲ $174,990

Asset Categories

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

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$3,646,422-▲ $388,604$214,825$3,820,201
2016$3,421,713-▲ $404,335$179,626$3,646,422
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Daniel M ScheragaExecutive DirectorFT$106,420$7,608$114,028
Revenue and Support

Revenue Composition

Contributions and Grants
$265,683
Program Service Revenue
$18,525
Investment Income
$148,451
Other Revenue
$22,772
All Other Contributions
$207,949
Change in Net Assets
$-74,682

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 Table10$49,455Fair Market Value (FMV) at Date of Contr
Other Non Cash Contri Table1$3,250Fair Market Value (FMV) at Date of Contr
Total Noncash Contributions11$52,705-

Audited Revenue Reconciliation

Revenue per Audited Statements
$519,983
Revenue Not Reported on Financial Statements
$-64,552
Revenue Not Reported on Form 990
$278,191
Other Revenue Adjustments
$-90,936
Total Revenue per Audited Statements
$798,174
Total Revenue per Form 990
$455,431
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$306,205
Salaries, Compensation, and Employee Benefits$223,908
Total Fundraising Expense$41,872
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$58,824$32,884$22,320$114,028
Other Salaries and Wages$77,660$5,012-$82,672
Fees for Service Investment Mgmnt Fees-$26,384-$26,384
Fees for Services Accounting-$13,965-$13,965
Payroll Taxes$9,219$2,883$1,708$13,810
Insurance$4,538$8,823-$13,361
Other Expenses$13,011-$17,715$13,011
Travel$1,725$9,272-$10,997
Other Employee Benefits$8,630--$8,630
Office Expenses-$7,578$129$7,707
Pension Plan Contributions$3,810$958-$4,768
Conferences and Meetings-$4,079-$4,079
Information Technology-$3,755-$3,755
Occupancy-$3,000-$3,000
Fees for Services Other-$2,734-$2,734
All Other Expenses-$1,331-$1,331
Fees for Services Legal-$255-$255
Total Functional Expenses$365,328$122,913$41,872$530,113

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$594,665
Total Expenses per Form 990$530,113
Expenses per Audited Statements$503,729
Expenses Not Reported on Form 990$90,936
Expenses Not Reported on Financial Statements$26,384
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$67,340
Fundraising Direct Expenses$47,783
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Florida Auction$112,219$54,485$46,025$8,460
Total Events$121,074$63,340$47,783$15,557
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 11B

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
2018-09-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Riemenschneider
Formed
1966
Legal Domicile
Ny
Voting Board Members
29
Independent Board Members
29
Employees
3
Volunteers
100

Preparer

Firm
Dermody Burke & Brown Cpas LLC
Address
443 N FRANKLIN ST STE 100, SYRACUSE, NY 13204-1441
Preparer
Shannon B Nelson
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 -47,783. Rental expense -43,153.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expense 43,153. Special events expense 47,783.

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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/TitleTxt12DIRECTOR
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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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IRS990/OtherExpensesGrp/Desc0TRAINING PROGRAMS
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