USA Diving INC FY2021 filing

Tax-deductible

Indianapolis, IN501(c)(3)EIN 31-0986868

To support u.s. Olympic and paralympic athletes in achieving sustained competitive excellence.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
$309K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $126K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$309K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $1.6M
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$885K
60% of total assets
Fine: liabilities are 60% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.6M
+66% vs prior year
Spent
$3.0M
To programs
79%
Net assets
$602K
By yearFY2020–FY2024
Revenue
$3.6M
FY2021▲ +66%
Revenue by fiscal year
FY2020$2.2M
FY2021$3.6M
FY2022$3.2M
FY2023$3.5M
FY2024$4.6M
Expenses
$3.0M
FY2021▲ +30%
Expenses by fiscal year
FY2020$2.3M
FY2021$3.0M
FY2022$3.1M
FY2023$3.7M
FY2024$4.3M
Net assets
$602K
FY2021▲ +341%
Net assets by fiscal year
FY2020−$250K
FY2021$602K
FY2022$951K
FY2023$1.1M
FY2024$1.3M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1981.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $2.4M Management & general 20% · $591K Fundraising 1% · $23K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

18 people listed on the 990; $309K paid to officers and key staff.

Part VII, Section A · reportable compensation
$167,110Pt VII · Sec A
High Performance Director
$138,000Pt VII · Sec A
Member-Term End: 11/21
$4,231Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Lee Michaud$238,075$243,150$188,222$167,110$115,303
Dan Laak———$138,000—
Leslie Adams$130,673$113,500———
Olivia Rosendahl———$4,231—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps U.S. Olympic and Paralympic athletes achieve sustained competitive excellence.

Provided by the organization

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2 program services account for $2.4M of program spending, described in the organization's own filed words · FY2021.
01

Competition program expenses include costs incurred to train athletes, conduct domestic competitions and send teams to international competitions. Expenses include travel, contract labor, lodging and meals, and athlete training costs such as sports science.

$1.8Mprogram expense
02

Member services include the publication of "inside usa diving and provision of member benefits such as sport accident insurance, safety education.

$569Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$1.6M
Grants paid · 4 grants · $33K · 2023–2023
DivervaVA · FY2023$10,000
Hastings Community Diving ClubFY2023$10,000
North Star Diving ClubFY2023$8,000
Unitemized GrantFY2023$5,000

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$3.6M
Ln 12
Gifts and grantsLn 1h$2.6M
Fees for servicesLn 2g$999K
Other incomeLn 4–11$12K
Money outPt IX
$3.0M
Ln 25
Programscol B$2.4M
Managementcol C$591K
Fundraisingcol D$23K
Owns and owesPt X
$602K
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$1.5M
LiabilitiesLn 26$885K
PeoplePt VI, VII
18
listed · VII A
PaidVII A3
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.6M
Government grantsLn 1e$120K
Noncash giftsLn 1g$86K
Fees for servicesLn 2g$999K
Investment incomeLn 3$783
Other incomeLn 4–11$12K
Total revenueLn 12$3.6M
Assets in detailPt X, end of year
CashLn 1$1.4M
Cash and savings togetherLn 1–2$1.4M
InvestmentsLn 11–13$7K
Land, buildings, equipmentLn 10c$32K
Total assetsLn 16$1.5M
LiabilitiesLn 26$885K
Net assetsLn 32$602K
OperationsPt I, VI
EmployeesI 57
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$767K$1.4M
InvestmentsLn 11–13$7K$7K
Land, buildings, equipmentLn 10c$18K$32K
Total assetsLn 16$812K$1.5M
LiabilitiesLn 26$1.1M$885K
Net assetsLn 32−$250K$602K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$116K$116K
Pay of current officers, directors and key staffLn 5$186K$164K$21K
Other salaries and wagesLn 7$388K$340K$31K$18K
Pension plan contributionsLn 8$11K$9K$965$854
Other employee benefitsLn 9$39K$19K$17K$3K
Payroll taxesLn 10$40K$29K$10K$1K
Legal feesLn 11b$159K$159K
Other fees for servicesLn 11g$94K$1K$93K
Office expensesLn 13$21K$3K$18K
Information technologyLn 14$84K$9K$75K
OccupancyLn 16$7K$7K
TravelLn 17$23K$12K$11K
Conferences, conventions and meetingsLn 19$10K$8K$2K
InsuranceLn 23$536K$453K$83K
Other expenses (24a–d)Ln 24$1.3M$1.2M$65K
All other expensesLn 24e$482$270$212
Total functional expensesLn 25$3.0M$2.4M$591K$23K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $4.6M$4.3M$210K$1.3M 990 PDF
FY2023 $3.5M$3.7M−$193K$1.1M 990 PDF
FY2022 $3.2M$3.1M$108K$951K 990 PDF
FY2021 Viewing $3.6M$3.0M$631K$602K 990 PDF
FY2020 $2.2M$2.3M−$124K−$250K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $3,617,166 across 10 lines filed
Lines not itemized here account for $12,086 of total revenue; see the IRS return.
VIII-1b Membership dues$558,432
VIII-1d Related organizations$506,194
VIII-1e Government grants$120,120
VIII-1f All other contributions, gifts and grants$1,420,503
VIII-1g Noncash contributions (included above)$85,854
VIII-1h Total contributions, gifts and grants$2,605,249
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $998,834$998,834
VIII-3 Investment incomeExcluded from tax $783$783
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $214$214
VIII-12 Total revenueRelated to mission $999,048 · Unrelated business $0 · Excluded from tax $12,869$3,617,166
Part IX · Statement of functional expenses $2,986,549 across 16 lines filed
IX-4 Benefits paid to or for membersPrograms $115,680$115,680
IX-5 Pay of current officers, directors and key staffPrograms $164,429 · Management $21,085$185,514
IX-7 Other salaries and wagesPrograms $339,792 · Management $30,663 · Fundraising $17,966$388,421
IX-8 Pension plan contributionsPrograms $8,984 · Management $965 · Fundraising $854$10,803
IX-9 Other employee benefitsPrograms $19,288 · Management $17,237 · Fundraising $2,940$39,465
IX-10 Payroll taxesPrograms $29,247 · Management $9,544 · Fundraising $1,192$39,983
IX-11b Legal feesManagement $158,787$158,787
IX-11g Other fees for servicesPrograms $1,125 · Management $92,573$93,698
IX-13 Office expensesPrograms $2,921 · Management $18,403$21,324
IX-14 Information technologyPrograms $8,985 · Management $75,048$84,033
IX-16 OccupancyManagement $6,523$6,523
IX-17 TravelPrograms $12,170 · Management $11,073$23,243
IX-19 Conferences, conventions and meetingsPrograms $8,498 · Management $1,581$10,079
IX-23 InsurancePrograms $453,000 · Management $82,931$535,931
IX-24 Other expenses (24a–d)Programs $1,208,059 · Management $64,524$1,272,583
IX-24e All other expensesPrograms $270 · Management $212$482
IX-25 Total functional expensesPrograms $2,372,448 · Management $591,149 · Fundraising $22,952$2,986,549
Part X · Balance sheet $1,487,443 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $767,261$1,441,017
X-4 Accounts receivableStart of year $15,257$2,698
X-9 Prepaid expenses and deferred chargesStart of year $5,000$5,000
X-10c Land, buildings and equipment, netStart of year $17,508$31,807
X-11 Publicly traded securitiesStart of year $6,921$6,921
X-16 Total assetsStart of year $811,947$1,487,443
X-19 Deferred revenueStart of year $666,884$685,212
X-26 Total liabilitiesStart of year $1,061,717$885,112
X-27 Net assets without donor restrictionsStart of year −$392,220$459,881
X-28 Net assets with donor restrictionsStart of year $142,450$142,450
X-32 Total net assets or fund balancesStart of year −$249,770$602,331
X-33 Total liabilities and net assetsStart of year $811,947$1,487,443
Part XI · Reconciliation of net assets $602,331 net assets at year end
XI-1 Total revenue$3,617,166
XI-2 Total expenses$2,986,549
XI-3 Revenue less expenses$630,617
XI-4 Net assets at start of year−$249,770
XI-8 Prior period adjustments$221,484
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$602,331

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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