Civic Intelligence

Polo Training Foundation

990 • Fiscal year 2021 • EIN 36-2605713

Jul 01, 2020 to Jun 30, 2021 • Filed on Dec 06, 2021

Refreshing map…

852 E RoadLoxahatchee Groves, FL 33470

(561) 670-3616

Siviq Scores

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

Liabilities / Assets

21st percentile

0.01x

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

30th percentile

0.06x

Higher debt load relative to revenue than 30% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

89th percentile

57%

Higher net margin than 89% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

58th percentile

$135,974

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 11.9% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

81st percentile

30%

Faster asset growth than 81% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

90th percentile

123%

Faster revenue growth than 90% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Assets

Up

$6,153,259

Up $1,421,723 (+30%) from 2020

Net Assets

Up

$6,083,587

Up $1,420,552 (+30%) from 2020

Liabilities

Up

$69,672

Up $1,171 (+1.7%) from 2020

Revenue

Up

$1,141,583

Up $629,302 (+123%) from 2020

Expenses

Down

$488,194

Down $24,970 (-4.9%) from 2020

Net Income

Up

$653,389

Up $654,272 (+74096%) from 2020

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

2021

Assets$6,153,259
Liabilities$69,672
Net Assets$6,083,587

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

2021

Revenue$1,141,583
Expenses$488,194
Net Income$653,389
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Dec 6, 2021
Return Version
2020v4.1
Gross Receipts
$1,914,107
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
Savings and Temporary Cash Investments$137,272$5,818,701▲ $5,681,429
Investments in Publicly Traded Securities$4,289,410$0▼ $4,289,410
Land, Buildings, and Equipment, Net$229,259$229,259→ $0
Cash and Non-Interest-Bearing Accounts$22,213$101,840▲ $79,627
Accounts Receivable$36,216$0▼ $36,216
Pledges and Grants Receivable$10,000$0▼ $10,000
Prepaid Expenses and Deferred Charges$2,500$0▼ $2,500
Total Assets$4,731,536$6,153,259▲ $1,421,723
Other Assets Total$4,666$3,459▼ $1,207
Liabilities
Unsecured Notes Loans Payable$46,583$35,231▼ $11,352
Accounts Payable and Accrued Expenses$21,918$34,441▲ $12,523
Total Liabilities$68,501$69,672▲ $1,171
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,254,583$5,406,476▲ $1,151,893
Net Assets Without Donor Restrictions$408,452$677,111▲ $268,659
Total Net Assets Fund Balance$4,663,035$6,083,587▲ $1,420,552
Total Liabilities and Net Assets / Fund Balance$4,731,536$6,153,259▲ $1,421,723

Asset Categories

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

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$3,875,268-▲ $1,305,044$198,885$4,981,427
2019$3,976,415-▲ $146,946$248,093$3,875,268
2018$3,820,201-▲ $412,907$256,693$3,976,415
2017$3,646,422-▲ $388,604$214,825$3,820,201
2016$3,421,713-▲ $404,335$179,626$3,646,422
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Daniel ScheregaExecutive Director (til 4.12.21)FT$99,702$36,272$135,974
Jennifer McleavyExecutive Director (eff 4.12.21)FT$76,947$13,375$90,322
Revenue and Support

Revenue Composition

Contributions and Grants
$357,789
Program Service Revenue
$10,339
Investment Income
$760,705
Other Revenue
$12,750
All Other Contributions
$311,206
Change in Net Assets
$653,389

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 Table6$29,825Fair Market Value (FMV) at Date of Contr
Other Non Cash Contri Table1$1,950Fair Market Value (FMV) at Date of Contr
Total Noncash Contributions7$31,775-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,104,528
Revenue Not Reported on Financial Statements
$37,055
Revenue Not Reported on Form 990
$769,044
Total Revenue per Audited Statements
$1,873,572
Total Revenue per Form 990
$1,141,583
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$252,830
Other Expenses$235,364
Total Fundraising Expense$35,483
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$157,484$50,075$18,745$226,304
Occupancy$42,040$3,500-$45,540
Fees for Service Investment Mgmnt Fees-$37,055-$37,055
Office Expenses-$8,289$13,446$21,735
Payroll Taxes$10,656$3,013$1,554$15,223
Fees for Services Accounting-$14,720-$14,720
Insurance$3,961$7,385-$11,346
Other Salaries and Wages$7,147$2,418$1,738$11,303
Information Technology-$10,042-$10,042
Fees for Services Other-$3,988-$3,988
Other Expenses$14,022$1,696-$1,696
Travel-$1,223-$1,223
Fees for Services Legal-$600-$600
All Other Expenses-$324-$324
Conferences and Meetings-$144-$144
Total Functional Expenses$308,239$144,472$35,483$488,194

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$488,194
Total Expenses per Audited Statements$453,020
Expenses per Audited Statements$451,139
Expenses Not Reported on Financial Statements$37,055
Expenses Not Reported on Form 990$1,881
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$3,300
Fundraising Direct Expenses$1,881
Professional Fundraising Fees$0
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 35% controlled entity
No
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
5616703616
Address
852 E ROAD, LOXAHATCHEE GROVES, FL 33470

Signing Officer

Name
Richard Riemenschneider
Title
Chairman
Phone
3156965070
Signed
2021-12-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melissa Ganzi
Formed
1966
Legal Domicile
Ny
Voting Board Members
24
Independent Board Members
24
Employees
3
Volunteers
0

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 2D - OTHER ADJUSTMENTS:

Fundraising expenses 1,881.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fund raising expense 1,881.

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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/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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