Civic Intelligence

USA Gymnastics

990 • Fiscal year 2023 • EIN 75-1847871

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 06, 2024

1099 N Meridian Suite ste 800Indianapolis, IN 46204

(317) 237-5050

Siviq Scores

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

Liabilities / Assets

98th percentile

1.44x

Higher debt load relative to assets than 98% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

72nd percentile

0.78x

Higher debt load relative to revenue than 72% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

18th percentile

-12%

Higher net margin than 18% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

88th percentile

$632,567

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

13th percentile

-5.1%

Faster asset growth than 13% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

13th percentile

-28%

Faster revenue growth than 13% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Assets

Down

$14,876,274

Down $798,847 (-5.1%) from 2022

Net Assets

Down

-$6,573,303

Down $3,288,084 (-100%) from 2022

Liabilities

Up

$21,449,577

Up $2,489,237 (+13%) from 2022

Revenue

Down

$27,647,703

Down $10,507,301 (-28%) from 2022

Expenses

Up

$30,935,785

Up $1,909,206 (+6.6%) from 2022

Net Income

Down

-$3,288,082

Down $12,416,507 (-136%) from 2022

Historical Trend

Balance Sheet Trend

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

$100M$50M$0-$50MAssets 2010: $10,308,943Liabilities 2010: $4,835,287Net Assets 2010: $5,473,6562010Assets 2011: $11,082,538Liabilities 2011: $5,404,284Net Assets 2011: $5,678,2542011Assets 2012: $9,887,204Liabilities 2012: $5,848,320Net Assets 2012: $4,038,8842012Assets 2013: $11,783,111Liabilities 2013: $7,480,540Net Assets 2013: $4,302,5712013Assets 2014: $11,815,875Liabilities 2014: $11,732,012Net Assets 2014: $83,8632014Assets 2015: $9,173,512Liabilities 2015: $8,234,017Net Assets 2015: $939,4952015Assets 2016: $11,807,049Liabilities 2016: $8,772,191Net Assets 2016: $3,034,8582016Assets 2017: $91,033,618Liabilities 2017: $89,472,807Net Assets 2017: $1,560,8112017Assets 2018: $85,260,444Liabilities 2018: $87,720,411Net Assets 2018: -$2,459,9672018Assets 2019: $6,295,705Liabilities 2019: $13,344,881Net Assets 2019: -$7,049,1762019Assets 2020: $10,341,762Liabilities 2020: $14,518,253Net Assets 2020: -$4,176,4912020Assets 2021: $10,063,495Liabilities 2021: $16,240,125Net Assets 2021: -$6,176,6302021Assets 2022: $15,675,121Liabilities 2022: $18,960,340Net Assets 2022: -$3,285,2192022Assets 2023: $14,876,274Liabilities 2023: $21,449,577Net Assets 2023: -$6,573,3032023Assets 2024: $19,724,078Liabilities 2024: $20,216,955Net Assets 2024: -$492,8772024

Highlighted filing

2023

Assets$14,876,274
Liabilities$21,449,577
Net Assets-$6,573,303

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $16,974,9472010Revenue 2011: $17,964,863Expenses 2011: $17,728,778Net Income 2011: $236,0852011Expenses 2012: $28,466,9972012Revenue 2013: $22,195,250Expenses 2013: $21,909,415Net Income 2013: $285,8352013Revenue 2014: $23,398,927Expenses 2014: $27,589,156Net Income 2014: -$4,190,2292014Revenue 2015: $23,740,207Expenses 2015: $22,858,818Net Income 2015: $881,3892015Revenue 2016: $34,477,340Expenses 2016: $32,374,608Net Income 2016: $2,102,7322016Revenue 2017: $25,057,726Expenses 2017: $26,551,272Net Income 2017: -$1,493,5462017Revenue 2018: $24,180,860Expenses 2018: $28,201,638Net Income 2018: -$4,020,7782018Revenue 2019: $26,492,612Expenses 2019: $31,380,382Net Income 2019: -$4,887,7702019Revenue 2020: $23,572,427Expenses 2020: $21,070,359Net Income 2020: $2,502,0682020Revenue 2021: $28,360,406Expenses 2021: $31,215,596Net Income 2021: -$2,855,1902021Revenue 2022: $38,155,004Expenses 2022: $29,026,579Net Income 2022: $9,128,4252022Revenue 2023: $27,647,703Expenses 2023: $30,935,785Net Income 2023: -$3,288,0822023Revenue 2024: $40,189,841Expenses 2024: $34,109,415Net Income 2024: $6,080,4262024

Highlighted filing

2023

Revenue$27,647,703
Expenses$30,935,785
Net Income-$3,288,082
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 6, 2024
Return Version
2023v5.1
Gross Receipts
$27,681,921
Mission and Program Overview

Mission

The usa gymnastics is the designated national governing body of the olympic sport of gymnastics. The organization was so designated by the united states olympic committee (the usoc) and is a group a member of the usoc. Usa gymnastics is also the united states' representative to the federation internationale de gymnastique (fig), an organization whose purpose is to promote the development of the sport of gymnastics throughout the world. In addition to organizing the olympic gymnastics team and other national teams, usa gymnastics supports and promotes the sport of gymnastics through athlete and coach development, event sanctioning, safety, and education.

Usa gymnastics is the designated national governing body for the sport of gymnastics in the united states.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$9,209,337$6,743,092▼ $2,466,245
Savings and Temporary Cash Investments$3,100,434$2,902,326▼ $198,108
Prepaid Expenses and Deferred Charges$384,221$2,526,673▲ $2,142,452
Accounts Receivable$1,567,541$1,537,706▼ $29,835
Land, Buildings, and Equipment, Net$338,827$237,558▼ $101,269
Inventories for Sale or Use$244,636$210,419▼ $34,217
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$15,675,121$14,876,274▼ $798,847
Other Assets Total$830,125$718,500▼ $111,625
Liabilities
Deferred Revenue$6,409,762$9,809,116▲ $3,399,354
Unsecured Notes Loans Payable$5,240,588$4,937,068▼ $303,520
Other Liabilities$845,126$4,854,255▲ $4,009,129
Accounts Payable and Accrued Expenses$6,464,864$1,849,138▼ $4,615,726
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$18,960,340$21,449,577▲ $2,489,237
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$668,191▲ $668,191
Net Assets Without Donor Restrictions$-3,285,219$-7,241,494▼ $3,956,275
Total Net Assets Fund Balance$-3,285,219$-6,573,303▼ $3,288,084
Total Liabilities and Net Assets / Fund Balance$15,675,121$14,876,274▼ $798,847

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$224,356$265,138$489,494
Other Land Buildings$13,202$10,392$23,594
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Li Li LeungChief Executive OfficerFT$507,925$124,642$632,567
Lauryn TurnerChief Operating OfficerFT$245,573$73,385$318,958
Debbie ShonChief Legal OfficerFT$234,647$38,333$272,980
Stefanie KorepinChief Program OfficerFT$220,648$46,694$267,342
Kimberly KranzChief of Athlete WellnessFT$210,862$28,880$239,742
Erica KovenChief Membership OfficerFT$168,023$34,509$202,532
Jill GeerChief Comm & Mktg OfficerFT$171,534$17,687$189,221
Kelly FeilkeVP Partnerships & Event MarketFT$150,066$26,608$176,674
Anne HeffernonVP OF WOMEN'S PROGRAM IN WOMENFT$128,585$21,646$150,231
Bernadette M BarronCFO (thru 11/23)PT$143,000-$143,000
Brett McclureMEN'S HIGH PERFORMANCE DirectorFT$132,722$9,370$142,092
Jennifer BedsoleCFO (eff. 8/23)FT$45,640$6,399$52,039
Kimberly TillDirector-$480-$480

Board Members and Trustees

NameTitle
Kathryn CarsonBoard Chairman
Justin TomanBoard Vice Chair/secretary
Brandon WynnAthlete Director
Jessica RenteriaAthlete Director
Logan DooleyAthlete Director
Rebecca SeredaAthlete Director
Sarah FinneganAthlete Director
Serena LuAthlete Director
Dylan CarneyDirector
Julie SpringwaterDirector
Kittia CarpenterDirector
Lois BinghamDirector
Staci SlaughterDirector
Tasha Schwikert MoserDirector
Brent LangTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Miller Johnson Snell CummiskeylegalPO BOX 306, Grand Rapids, MI 49501$310,240
The Pictor GroupConsult. men's gymn.PO BOX 19942, Reno, NV 89511$136,543
Plews Shadley Racher Braun LLPLegal1346 N DELAWARE STREET, Indianapolis, IN 46202$130,128
Revenue and Support

Revenue Composition

Contributions and Grants
$5,128,305
Program Service Revenue
$21,181,051
Investment Income
$150,886
Other Revenue
$1,187,461
All Other Contributions
$4,900,305
Change in Net Assets
$-3,288,082

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table2$985,893catalog price
Other Non Cash Contri Table3$679,111Comparable Mkt Rates
Other Non Cash Contri Table1$95,000catalog price
Other Non Cash Contri Table1$10,575Retail Price
Total Noncash Contributions7$1,770,579-

Audited Revenue Reconciliation

Revenue per Audited Statements
$27,681,921
Revenue Not Reported on Financial Statements
$-34,218
Revenue Not Reported on Form 990
$400
Other Revenue Adjustments
$-34,218
Total Revenue per Audited Statements
$27,682,321
Total Revenue per Form 990
$27,647,703
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$22,456,315
Salaries, Compensation, and Employee Benefits$6,556,502
Grants and Similar Amounts Paid$1,922,968
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Travel$5,820,705$235,707-$6,056,412
Other Salaries and Wages$2,390,164$1,219,346-$3,609,510
Insurance$6,223$3,566,860-$3,573,083
Office Expenses$1,596,537$720,772-$2,317,309
Current Officers, Directors, Trustees, and Key Employees$1,251,463$638,435-$1,889,898
Fees for Services Other$1,355,393$319,937-$1,675,330
Grants to Domestic Individuals$1,577,485--$1,577,485
Occupancy$1,219,668$269,773-$1,489,441
All Other Expenses$632,457$260,892-$893,349
Other Employee Benefits$341,826$174,383-$516,209
Other Expenses$386,295$3,291-$386,295
Payroll Taxes$229,814$117,240-$347,054
Grants to Domestic Orgs$345,483--$345,483
Fees for Services Legal-$286,454-$286,454
Fees for Services Accounting-$268,947-$268,947
Information Technology$57,546$142,372-$199,918
Pension Plan Contributions$128,352$65,479-$193,831
Interest-$146,479-$146,479
Depreciation Depletion-$101,269-$101,269
Total Functional Expenses$22,396,323$8,539,462$0$30,935,785

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$30,970,403
Expenses per Audited Statements$30,935,785
Total Expenses per Form 990$30,935,785
Expenses Not Reported on Form 990$34,618
International Activity

International Summary

Offices
0
Employees
0
Spending
$3,397,683

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)Program ServicesTravel Costs & Fees00$2,705,428
South AmericaProgram ServicesTravel Costs & Fees00$408,196
Russia and the Newly Independent StatesProgram ServicesTravel Costs & Fees00$219,782
Middle East and North AfricaProgram ServicesTravel Costs & Fees00$50,157
East Asia and the PacificProgram ServicesTravel Costs & Fees00$14,120
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held for Others$4,258,438
Lease Liability$595,817
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 6:

Usa gymnastics has three classes of members that have the right to elect positions to the the board of directors. According to the bylaws, members shall have no ownership rights or beneficial interests of any kind in the property of the organization.

FORM 990, PART VI, SECTION A, LINE 7A:

Usa gymnastics board of directors shall consist of 16 members, selected as follows: 1) one national membership director is elected by a national program committee representing all disciplines. 2) five athlete directors are elected in proportion to the number of athlete members in the various gymnastics disciplines. Athlete representatives are first elected to the athlete's council and must meet the federal statutory and usopc qualifications for athlete representatives. 3) eight independent directors are elected by the board, to include the board chair. 4) one director is elected by an affiliate organization to the board of directors. 5) one director is elected to represent the sexual abuse survivors.

FORM 990, PART VI, SECTION A, LINE 8B:

No committees have authority to act on behalf of the governing body.

FORM 990, PART VI, SECTION B, LINE 11B:

Form 990 was prepared by a national accounting firm in conjunction with the organization's financial department. The form 990 was reviewed in detail by management. After review a final draft was presented to the full board of directors prior to filing with the internal revenue service.

FORM 990, PART VI, SECTION B, LINE 12C:

A conflict of interest questionnaire is completed by every director, officer, member of any committee and employee. The staff questionnaires are then reviewed by the chief operating officer and chief legal officer. The ethics committee is charged with reviewing the president's, the board of director's, and senior management's conflict of interest questionnaires. Potential conflicts of interest are brought to the attention of the chair of the board, who then directs the matter to the full board of directors. This process is done annually. No director, officer, member of any committee or employee shall participate in negotiation, evaluation or approval by the organization of any contractual arrangement in which there is an actual or potential conflict of interest. Each director, officer, member of any committee or employee upon learning that the organization is proposing to enter into an arrangement in which he or she has a financial interest in such arrangement, promptly notifies the president in writing of the existence of such interest, and the president in turn discloses such interest to the board of directors.

FORM 990, PART VI, SECTION B, LINE 15A:

The full board of directors analyzes, reviews and ultimately determines compensation for the ceo of the organization.

FORM 990, PART VI, SECTION B, LINE 15B:

The ceo is responsible for analyzing, reviewing and determining the compensation for executives and key employees of the organization.

FORM 990, PART VI, SECTION C, LINE 19:

The organization's governing documents, financial statements and the conflict of interest policy are available to the public on our website.

FORM 990, PART VII, SECTION A:

None of the board members are paid for their services as a board member. However, some board members receive compensation as a coach, judge or other services as part of the organization's operations and that reportable compensation is reflected in part vii.

Filing and Contact Details

Filer

Filer Name
USA Gymnastics
EIN
75-1847871
In Care Of
% JENNIFER BEDSOLE
Phone
3172375050
Address
1099 N Meridian Suite ste 800, INDIANAPOLIS, IN 46204

Signing Officer

Name
Jennifer Bedsole
Title
CFO
Phone
3172375050
Signed
2024-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Li Li Leung
Formed
1964
Legal Domicile
TX
Voting Board Members
16
Independent Board Members
16
Employees
63
Volunteers
4,000

Preparer

Firm
Bdo USA
Address
200 PARK AVENUE 38TH FLOOR, NEW YORK, NY 10166
Preparer
Paul Hammerschmidt
Phone
2128858000
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 4D:

1) communications - usa gymnastics promotes the sport and helps deliver the positive message of being involved in the sport of gymnastics via a variety of platforms. Media releases about upcoming events, athletes' competitive success overseas, and other gymnastics related stories are generated on a daily basis. Usa gymnastics maintains a website, has a facebook page, and communicates through instagram and twitter to quickly deliver updated information to its members and fans of the sport alike. Expenses: $1,112,317. Grants: $0. Revenue: $355,322. 2) medical - usa gymnastics is committed to providing a safe environment and creating a foundation for competitive excellence both in and beyond the gym. For on-site events, usa gymnastics provides splinting, wound care, massage therapy, therapeutic modalities, injury evaluation and treatment. Usa gymnastics provides long and short-term treatment and rehabilitation plans for all gymnastics disciplines, including men's and women's artistic, rhythmic, acrobatics, and trampoline. These initiatives support our commitment to athlete safety. Expenses: $1,069,982. Grants: $0. Revenue: $30,215. 3) safety & response - usa gymnastics is committed to provide a safe environment, creating a foundation for competitive excellence both in and beyond the gym, and holistically developing our gymnasts. Usa gymnastics provides awareness, prevention, and reporting information regarding sexual and other misconduct to professional members, members clubs, athlete members, and their families. In december 2021, usa gymnastics leadership approved and adopted a revised safe sport policy, which is mandatory for all members to comply with. This policy includes increasing the number of individuals who fall under usa gymnastics' jurisdiction, increasing the categories of misconduct, addressing and prohibiting boundary violations and grooming behaviors, requiring the reporting of suspicion of abuse to law enforcement, requiring the notification to usa gymnastics or u.s. Center for safesport for any misconduct, and requiring covered individuals to take a designated safe sport course every two years. Expenses: $736,897. Grants: $0. Revenue: $0.

Financial Statement Notes

PART X, LINE 2:

USA Gymnastics accounts for uncertainty in income taxes using the provisions of ASC 740, Income Taxes. Using that guidance, tax positions initially need to be recognized in the consolidated financial statements when it is more-likely-than-not the positions will be sustained upon examination by the tax authorities. A recognized tax position is measured at the largest amount of benefit that has a greater than 50% likelihood of being realized upon settlement. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Organization recognizes interest and/or penalties related to income tax matters in income tax expense and did not have any amounts accrued for interest and penalties at December 31, 2023.

PART XI, LINE 4B:

Cost of goods sold......................$(34,218.)

PART XII, LINE 2D:

Cost of goods sold......................$34,218.

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.7$20.2$0.49$40.2$34.1$6.08
2023Detailed filing. Detailed filing data is available for this year.$14.9$21.4$6.57$27.6$30.9$3.29
2022Detailed filing. Detailed filing data is available for this year.$15.7$19.0$3.29$38.2$29.0$9.13
2021Detailed filing. Detailed filing data is available for this year.$10.1$16.2$6.18$28.4$31.2$2.86
2020Detailed filing. Detailed filing data is available for this year.$10.3$14.5$4.18$23.6$21.1$2.50
2019Detailed filing. Detailed filing data is available for this year.$6.30$13.3$7.05$26.5$31.4$4.89
2018Detailed filing. Detailed filing data is available for this year.$85.3$87.7$2.46$24.2$28.2$4.02
2017Detailed filing. Detailed filing data is available for this year.$91.0$89.5$1.56$25.1$26.6$1.49
2016Detailed filing. Detailed filing data is available for this year.$11.8$8.77$3.03$34.5$32.4$2.10
2015Detailed filing. Detailed filing data is available for this year.$9.17$8.23$0.94$23.7$22.9$0.88
2014Detailed filing. Detailed filing data is available for this year.$11.8$11.7$0.08$23.4$27.6$4.19
2013Detailed filing. Detailed filing data is available for this year.$11.8$7.48$4.30$22.2$21.9$0.29
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.89$5.85$4.04$28.5
2011Summary only. Only limited summary data is available for this year.$11.1$5.40$5.68$18.0$17.7$0.24
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.3$4.84$5.47$17.0