Vasa INC EIN 62-1376706 Form 990 (PDF) Claim this org

Vasa INC FY2023 filing

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Provides soccer training and development for children in Blount and surrounding counties. For fiscal year 2023 it reported $276K in revenue, $215K in expenses, and $183K in net assets.Pt I

Founded
1997
Type
Public charity (501(c)(3)) · Recreation & Sports
Location
Alcoa, TN
Website
www.blountunited.com
Filings
6 on file (2020–2023)
Revenue
$276KFY2023
Expenses
$215K
Net assets
$183K
People
14
Filings
6
Updates
0
More identity details & actions ⌄
EIN  62-1376706 Public charity (501(c)(3)) Alcoa, TN Founded 1997
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Provides soccer training and development for children in Blount and surrounding counties.
Leadership
Jami Sugg · President
Money in and out
$276K revenue, $215K expenses
Bottom line
95% program efficiency
Where the money goes · FY2023
Total revenue
$276K
Pt VIII · Ln 12
Total expenses
$215K
Pt IX · Ln 25
Net assets
$183K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $61K
Where spending went · Part IX cols B–D
Program services $0.95 Management & general $0.05
Program efficiency
95%
of spending reaches programs
Operating runway
5.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+22%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$276K
FY2023▲ +16%
Expenses
$215K
FY2023▼ -12%
Total assets
$204K
FY2023▲ +36%
Total liabilities
$21K
FY2023▼ -27%
Total revenue
$276K
Pt VIII · Ln 12
Total expenses
$215K
Pt IX · Ln 25
Net assets
$183K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$61K
Total assetsPt X · Ln 16$204K
Program-expense ratioPt IX · col B95%
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 415
Mission & Programs · Part III

Where the work happens

1 program service account for $204K of program spending, described in the organization's own filed words · FY2023.
01

Excellence in soccer training and development for young people including the principles of fair play, sportsmanship and community spirit

$204Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CVasa INC
EINHdr · item D62-1376706
Principal addressHdr · item CAlcoa, TN
WebsiteHdr · item Jwww.blountunited.com
Year of formationHdr · item L1997
State of legal domicileHdr · item MTN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFRecreation & Sports (N64)
Ruling yearIRS BMFJan 2002

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a15
Independent voting membersPt VI · Ln 1b15
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice-Preside
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Member at La
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Program service revenue$238K · 86%
Contributions & grants$24K · 9%
Other revenue$14K · 5%
Program service revenue86%$238K
Contributions & grants9%$24K
Other revenue5%$14K
Investment income$1
Total revenueLn 12$276K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.95 Management & general $0.05
Program services95%$204K
Management & general5%$11K
Total functional expensesLn 25$215K

Balance Sheet

Part X · end of year
CashLn 1$89K
Total assetsLn 16$204K
Total liabilitiesLn 26$21K
Total net assetsLn 32$183K
Months of cash on handcomputed5.0

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $89K · Operating expenses/yr $215K
5.0 months
Where the money goes
Program services
Program services $204K · Total expenses $215K
95%
Management & General
Management & general $11K · Total expenses $215K
5%
Fundraising
Fundraising $0 · Total expenses $215K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $13K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $24K · Total revenue $276K
9%
Government reliance
Government grants — · Total revenue $276K
Earned-income share
Program service revenue $238K · Total revenue $276K
86%
Investment reliance
Investment income $1 · Total revenue $276K
<0.01%
Program self-sufficiency
Program service revenue $238K · Total expenses $215K
111%
Growth & trend
Revenue growth (YoY)
This year $276K · Prior year $237K
+16%
Net-asset trend (YoY)
End of year $183K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $276K · Expenses $215K
+22%
Liabilities-to-Assets
Total liabilities — · Total assets $204K
Net-asset ratio
Net assets $183K · Total assets $204K
90%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $204K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jami Sugg · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $215K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $215K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 95%
Overhead ratio 5%
Fundraising cost ratio 0%
Revenue growth 16%
Accounting fee ratio 0.2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$549K revenue · ⤓ 990 PDF
FY2024$442K revenue · ⤓ 990 PDF
FY2023$276K revenue · viewing · ⤓ 990 PDF
FY2022$237K revenue · ⤓ 990 PDF
FY2021$202K revenue · ⤓ 990 PDF
FY2020$128K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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