Civic Intelligence

Fred Wells Tennis & Education Center Inc.

990 • Fiscal year 2019 • EIN 41-1965977

Jan 01, 2019 to Dec 31, 2019 • Filed on Apr 13, 2020

100 Federal DriveSt Paul, MN 55111

(612) 252-8367

Siviq Scores

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

Liabilities / Assets

65th percentile

0.20x

Higher debt load relative to assets than 65% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

76th percentile

0.41x

Higher debt load relative to revenue than 76% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

33rd percentile

-2.1%

Higher net margin than 33% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

77th percentile

$124,400

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 6.4% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

69th percentile

11%

Faster asset growth than 69% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

26th percentile

-6.8%

Faster revenue growth than 26% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$3,959,118

Up $399,807 (+11%) from 2018

Net Assets

Down

$3,176,819

Down $40,456 (-1.3%) from 2018

Liabilities

Up

$782,299

Up $440,263 (+129%) from 2018

Revenue

Down

$1,929,138

Down $140,634 (-6.8%) from 2018

Expenses

Up

$1,969,594

Up $169,043 (+9.4%) from 2018

Net Income

Down

-$40,456

Down $309,677 (-115%) from 2018

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $3,885,846Liabilities 2011: $121,590Net Assets 2011: $3,764,2562011Assets 2012: $3,699,268Liabilities 2012: $146,258Net Assets 2012: $3,553,0102012Assets 2013: $3,699,785Liabilities 2013: $177,412Net Assets 2013: $3,522,3732013Assets 2014: $3,602,430Liabilities 2014: $185,878Net Assets 2014: $3,416,5522014Assets 2015: $2,973,144Liabilities 2015: $165,480Net Assets 2015: $2,807,6642015Assets 2016: $2,963,562Liabilities 2016: $187,586Net Assets 2016: $2,775,9762016Assets 2017: $3,165,956Liabilities 2017: $217,902Net Assets 2017: $2,948,0542017Assets 2018: $3,559,311Liabilities 2018: $342,036Net Assets 2018: $3,217,2752018Assets 2019: $3,959,118Liabilities 2019: $782,299Net Assets 2019: $3,176,8192019Assets 2020: $3,957,793Liabilities 2020: $614,304Net Assets 2020: $3,343,4892020Assets 2021: $4,348,545Liabilities 2021: $631,408Net Assets 2021: $3,717,1372021Assets 2022: $4,373,913Liabilities 2022: $579,864Net Assets 2022: $3,794,0492022Assets 2023: $4,547,365Liabilities 2023: $460,830Net Assets 2023: $4,086,5352023Assets 2024: $4,645,744Liabilities 2024: $338,411Net Assets 2024: $4,307,3332024

Highlighted filing

2019

Assets$3,959,118
Liabilities$782,299
Net Assets$3,176,819

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,002,643Expenses 2011: $1,048,660Net Income 2011: -$46,0172011Revenue 2012: $960,209Expenses 2012: $1,171,523Net Income 2012: -$211,3142012Revenue 2013: $1,292,763Expenses 2013: $1,324,107Net Income 2013: -$31,3442013Revenue 2014: $1,259,482Expenses 2014: $1,365,929Net Income 2014: -$106,4472014Revenue 2015: $1,308,344Expenses 2015: $1,399,076Net Income 2015: -$90,7322015Revenue 2016: $1,439,471Expenses 2016: $1,470,924Net Income 2016: -$31,4532016Revenue 2017: $1,811,774Expenses 2017: $1,639,696Net Income 2017: $172,0782017Revenue 2018: $2,069,772Expenses 2018: $1,800,551Net Income 2018: $269,2212018Revenue 2019: $1,929,138Expenses 2019: $1,969,594Net Income 2019: -$40,4562019Revenue 2020: $2,030,382Expenses 2020: $1,863,842Net Income 2020: $166,5402020Revenue 2021: $2,852,378Expenses 2021: $2,478,730Net Income 2021: $373,6482021Revenue 2022: $2,825,830Expenses 2022: $2,748,918Net Income 2022: $76,9122022Revenue 2023: $3,074,088Expenses 2023: $2,781,602Net Income 2023: $292,4862023Revenue 2024: $3,322,465Expenses 2024: $3,101,666Net Income 2024: $220,7992024

Highlighted filing

2019

Revenue$1,929,138
Expenses$1,969,594
Net Income-$40,456
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Apr 13, 2020
Return Version
2019v5.0
Gross Receipts
$2,487,342
Mission and Program Overview

Mission

To bring people together of all ages, abilities and backgrounds to embrace the lifelong game of tennis while serving under-resourced youth with the support of the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,046,172$2,590,058▲ $543,886
Cash and Non-Interest-Bearing Accounts$789,208$685,996▼ $103,212
Savings and Temporary Cash Investments$222,159$529,896▲ $307,737
Accounts Receivable$39,027$89,080▲ $50,053
Prepaid Expenses and Deferred Charges$16,390$28,667▲ $12,277
Pledges and Grants Receivable$50,000$18,500▼ $31,500
Inventories for Sale or Use$13,018$15,939▲ $2,921
Investments in Publicly Traded Securities$1,018$982▼ $36
Total Assets$3,559,311$3,959,118▲ $399,807
Other Assets Total$382,319--
Liabilities
Mortgage Notes Payable Secured by Investment Property-$484,824-
Other Liabilities$158,393$168,404▲ $10,011
Accounts Payable and Accrued Expenses$183,643$129,071▼ $54,572
Total Liabilities$342,036$782,299▲ $440,263
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,148,467$3,043,319▼ $105,148
Net Assets With Donor Restrictions$68,808$133,500▲ $64,692
Total Net Assets Fund Balance$3,217,275$3,176,819▼ $40,456
Total Liabilities and Net Assets / Fund Balance$3,559,311$3,959,118▲ $399,807
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Esther TsaiExecutive DFT$124,400$124,400

Board Members and Trustees

NameTitle
Jack Foss From March 2019Director
Jim VaughanDirector
Keith RadtkeDirector
Melissa Dalum Thru October 2019Director
Michele MingoDirector
Visala GoswitzDirector
Rick RinkoffDirector/pre
Thomas JuddDirector/sec
Santosh KrishnanDirector/tre
John AhernDirector/vic
Revenue and Support

Revenue Composition

Contributions and Grants
$789,663
Program Service Revenue
$1,505,746
Investment Income
$-422,243
Other Revenue
$55,972
All Other Contributions
$484,889
Change in Net Assets
$-40,456

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 Table50$46,169Bid Price
Securities Publicly Traded3$18,700Selling Price
Total Noncash Contributions53$64,869-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,929,138
Revenue Not Reported on Form 990
$99,883
Total Revenue per Audited Statements
$2,029,021
Total Revenue per Form 990
$1,929,138
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,289,924
Other Expenses$655,268
Total Fundraising Expense$190,063
Grants and Similar Amounts Paid$24,402
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$803,839$73,844$116,423$994,106
Depreciation Depletion$159,925$8,692$5,214$173,831
Current Officers, Directors, Trustees, and Key Employees$12,440$87,080$24,880$124,400
Occupancy$109,997$5,925$3,556$119,478
Payroll Taxes$71,786$14,152$7,677$93,615
Other Employee Benefits$57,047$14,082$6,674$77,803
Office Expenses$39,652$19,730$5,577$64,959
Insurance$36,718$6,885$2,294$45,897
Other Expenses$37,276--$37,276
Fees for Services Other$11,915$18,388-$30,303
Fees for Services Accounting-$29,015-$29,015
Grants to Domestic Individuals$24,402--$24,402
Advertising--$17,768$17,768
Interest-$14,398-$14,398
Travel$247$2,567-$2,814
Total Functional Expenses$1,484,773$294,758$190,063$1,969,594

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,069,477
Expenses per Audited Statements$1,969,594
Total Expenses per Form 990$1,969,594
Expenses Not Reported on Form 990$99,883
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$41,983
Fundraising Direct Expenses$33,265
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Pro Am Fundrais$50,862$30,208$1,805$28,403
Gala$175,065$11,775$3,569$8,206
Total Events$225,927$41,983$33,265$8,718
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Revenue$168,404
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
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
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, Page 6, Part VI, Line 4

See attachment - amended and restated bylaws of tennis & education, inc.

Form 990, Page 6, Part VI, Line 8A

The organization does not have any committees which have the authority to act on behalf of the governing body.

Form 990, Page 6, Part VI, Line 11B

A draft of form 990 is reviewed by the finance committee. After that review is finalized, form 990 is presented to and approved by the board of directors.

Form 990, Page 6, Part VI, Line 12C

The organization's conflict of interest policy covers directors, officers and employees of the organization. This policy defines such conflicts and describes procedures to be followed when a conflict exists. The board of directors review the policy annually and all directors, officers and employees are required to sign the policy annually. The policy is reviewed periodically at monthly staff meetings. All new hires must sign and acknowledge this policy.

Form 990, Page 6, Part VI, Line 15A

The executive committee obtains research and information to make a recommendation to the board for the executive director's compensation based on comparable data. The board documents how it reached its decision and approves the decision. A year-end performance evaluation of the executive director is prescribed annually to determine compensation.

Form 990, Page 6, Part VI, Line 19

Governing documents, and conflict of interest policies are available upon request. Financial statements are included in the annual report.

Filing and Contact Details

Filer

Filer Name
Tennis & Education Inc
EIN
41-1965977
Phone
6122528367
Address
100 FEDERAL DRIVE, ST PAUL, MN 55111

Signing Officer

Name
Rick Rinkoff
Title
Director/president
Phone
6122528367
Signed
2020-04-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Rinkoff
Formed
2000
Legal Domicile
Mn
Voting Board Members
9
Independent Board Members
9
Employees
40
Volunteers
79

Preparer

Firm
Sherry D Heffernan Ltd
Address
6650 HORSESHOE BEND DR, CORCORAN, MN 55340-9549
Preparer
Sherry D Heffernan Ltd
Phone
7632297129
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Tennis & education has the following programs: junior programs: our junior program focuses on creating holistic tennis players ages 5 to 18. This fee-based program offers group lessons, junior team tennis, summer tennis camp and tournaments. Through tailored classes, youth learn to play the sports of tennis and develop as players for life. The focus is on sportsmanship, health and fitness, players development and confidence and is modeled on united states tennis association curriculum. In 2019, more than 1030 twin cities youth participated in our junior program offerings, and approximately 24,000 was awarded in scholarships to enable players to participate despite their financial limitations. Adult programs: adult tennis programming includes senior drills, beginner drills, in-house leagues, women day leagues, cardio tennis, private lessons, clinics for players for all levels and daily court rentals to the public. Adult tennis stresses tennis as a lifelong sport that promotes health and wellness and is offered at some of the lowest prices in minnesota. In 2019, more than 1,425 players were active participants of which 531 were seniors.

Form 990, Part XI, Line 9

Cost of good sold subtraction from revenue 24,883 cost of goods sold subtraction from revenue -24,883

Financial Statement Notes

Schedule D, Page 3, Part X

The organization has evaluated its potential exposure for uncertain tax positions and management has expressed there are no uncertain tax positions as of december 31, 2019. Tax returns for the past three tax years remain open for examination by tax jurisdictions.

Schedule D, Page 4, Part XI, Line 2D

Cost of good sold subtraction from revenue 24,883

Schedule D, Page 4, Part XII, Line 2D

Cost of goods sold subtraction from revenue 24,883

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IRS990/Desc0TENNIS & EDUCATION HAS THE FOLLOWING PROGRAMS: JUNIOR PROGRAMS: OUR JUNIOR PROGRAM FOCUSES ON CREATING HOLISTIC TENNIS PLAYERS AGES 5 TO 18. THIS FEE-BASED PROGRAM OFFERS GROUP LESSONS, JUNIOR TEAM TENNIS, SUMMER TENNIS CAMP AND TOURNAMENTS. THROUGH TAILORED CLASSES, YOUTH LEARN TO PLAY THE SPORTS OF TENNIS AND DEVELOP AS PLAYERS FOR LIFE. THE FOCUS IS ON SPORTSMANSHIP, HEALTH AND FITNESS, PLAYERS DEVELOPMENT AND CONFIDENCE AND IS MODELED ON UNITED STATES TENNIS ASSOCIATION CURRICULUM. IN 2019, MORE THAN 1030 TWIN CITIES YOUTH PARTICIPATED IN OUR JUNIOR PROGRAM OFFERINGS, AND APPROXIMATELY 24,000 WAS AWARDED IN SCHOLARSHIPS TO ENABLE PLAYERS TO PARTICIPATE DESPITE THEIR FINANCIAL LIMITATIONS. ADULT PROGRAMS: ADULT TENNIS PROGRAMMING INCLUDES SENIOR DRILLS, BEGINNER DRILLS, IN-HOUSE LEAGUES, WOMEN DAY LEAGUES, CARDIO TENNIS, PRIVATE LESSONS, CLINICS FOR PLAYERS FOR ALL LEVELS AND DAILY COURT RENTALS TO THE PUBLIC. ADULT TENNIS STRESSES TENNIS AS A LIFELONG SPORT THAT PROMOTES HEALTH AND WELLNESS AND IS OFFERED AT SOME OF THE LOWEST PRICES IN MINNESOTA. IN 2019, MORE THAN 1,425 PLAYERS WERE ACTIVE PARTICIPANTS OF WHICH 531 WERE SENIORS.
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IRS990/OtherExpensesGrp/Desc2PROGRAM EQUIPMENT/SUPPLY
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IRS990/PayrollTaxesGrp/TotalAmt093615
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt050000
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt016390
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt028667
IRS990/PrincipalOfficerNm0RICK RINKOFF
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IRS990/ProgramServiceRevenueGrp/Desc0JUNIOR PROGRAMS
IRS990/ProgramServiceRevenueGrp/Desc1COURT TIME/PRIVATE LESSSONS
IRS990/ProgramServiceRevenueGrp/Desc2ADULT LESSONS AND LEAGUES
IRS990/ProgramServiceRevenueGrp/Desc3TENNIS & FITNESS CAMPS
IRS990/ProgramServiceRevenueGrp/Desc4COMMUNITY EVENTS
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IRS990/PYExcessBenefitTransInd0false
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IRS990/QuidProQuoContriDisclInd0true
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0330276
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt054
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS EVALUATED ITS POTENTIAL EXPOSURE FOR UNCERTAIN TAX POSITIONS AND MANAGEMENT HAS EXPRESSED THERE ARE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2019. TAX RETURNS FOR THE PAST THREE TAX YEARS REMAIN OPEN FOR EXAMINATION BY TAX JURISDICTIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1COST OF GOOD SOLD SUBTRACTION FROM REVENUE 24,883
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2COST OF GOODS SOLD SUBTRACTION FROM REVENUE 24,883
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02029021
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.65$0.34$4.31$3.32$3.10$0.22
2023Detailed filing. Detailed filing data is available for this year.$4.55$0.46$4.09$3.07$2.78$0.29
2022Detailed filing. Detailed filing data is available for this year.$4.37$0.58$3.79$2.83$2.75$0.08
2021Detailed filing. Detailed filing data is available for this year.$4.35$0.63$3.72$2.85$2.48$0.37
2020Detailed filing. Detailed filing data is available for this year.$3.96$0.61$3.34$2.03$1.86$0.17
2019Detailed filing. Detailed filing data is available for this year.$3.96$0.78$3.18$1.93$1.97$0.04
2018Detailed filing. Detailed filing data is available for this year.$3.56$0.34$3.22$2.07$1.80$0.27
2017Detailed filing. Detailed filing data is available for this year.$3.17$0.22$2.95$1.81$1.64$0.17
2016Detailed filing. Detailed filing data is available for this year.$2.96$0.19$2.78$1.44$1.47$0.03
2015Detailed filing. Detailed filing data is available for this year.$2.97$0.17$2.81$1.31$1.40$0.09
2014Summary only. Only limited summary data is available for this year.$3.60$0.19$3.42$1.26$1.37$0.11
2013Summary only. Only limited summary data is available for this year.$3.70$0.18$3.52$1.29$1.32$0.03
2012Summary only. Only limited summary data is available for this year.$3.70$0.15$3.55$0.96$1.17$0.21
2011Summary only. Only limited summary data is available for this year.$3.89$0.12$3.76$1.00$1.05$0.05