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Progression Sports Performance INC

Tax-deductible

Los Angeles, CA501(c)(3)Recreation & Sports EIN 87-3914340Revenue $281K in FY2024

On file with the IRSprogressiontkd.com3126 1/2 S Sepulveda Blvd, 90034-4204 · Los Angeles, CATax-exempt since Jan 2023School — 170(b)(1)(A)(ii)

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Educational: Teaching martial arts to students is the sole program service

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Run by 1 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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FY2024 · 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
2 of 2
filings with a surplus
Average surplus $35K a year · 13% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$31K
to officers and key staff · 12% of spending
Top officer’s pay lower than 54% of similar orgs
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$14K
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$281K
+14% vs prior year
Spent
$262K
To programs
93%
Net assets
$121K
By yearFY2022–FY2024
Revenue
$281K
FY2024▲ +14%
Tap a bar for its year
Revenue by fiscal year
FY2022$106K
FY2023$246K
FY2024$281K
Expenses
$262K
FY2024▲ +33%
Tap a bar for its year
Expenses by fiscal year
FY2022Not on file
FY2023$196K
FY2024$262K
Net assets
$121K
FY2024▲ +19%
Tap a bar for its year
Net assets by fiscal year
FY2022$52K
FY2023$102K
FY2024$121K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2023.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $243K Management & general 7% · $19K

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

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Who runs it and what they're paid

9 people listed on the 990; $31K paid to officers and key staff.

Part VII, Section A · reportable compensation
Richard Lee
President
$31,356Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Angela Choi
Director
$0Pt VII · Sec A
Hoda Daraby
Director
$0Pt VII · Sec A
Julie Zhu
Director
$0Pt VII · Sec A
Heidi Sung
Director
$0Pt VII · Sec A
Mina Choi
Director
$0Pt VII · Sec A

Richard Lee’s $31K as President is at the 46th percentile of top reported officer pay among 1017 $100K–1M recreation & sports nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Progression Sports Performance INC executive salaries →

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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 15aNo

Programs and updates

Teaches martial arts to students.

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Provided by the organization

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1 program · $243K · in their own filed words · FY2024
01

Teaching martial arts to students is the sole program service.

$243Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$281K
Ln 12
Fees for servicesLn 2g$253K
Gifts and grantsLn 1h$25K
Investment incomeLn 3$2K
Money outPt IX
$262K
Ln 25
Programscol B$243K
Managementcol C$19K
Owns and owesPt X
$121K
net assets · Ln 32
Cash and savingsLn 1–2$97K
Total assetsLn 16$135K
LiabilitiesLn 26$14K
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$25K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$253K
Investment incomeLn 3$2K
Total revenueLn 12$281K
Assets in detailPt X, end of year
CashLn 1$97K
Cash and savings togetherLn 1–2$97K
Land, buildings, equipmentLn 10c$16K
Other assetsLn 15$22K
Total assetsLn 16$135K
LiabilitiesLn 26$14K
Net assetsLn 32$121K
OperationsPt I, VI
EmployeesI 50
VolunteersI 61
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$76K$97K
Land, buildings, equipmentLn 10c$16K$16K
Total assetsLn 16$115K$135K
LiabilitiesLn 26$13K$14K
Net assetsLn 32$102K$121K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$31K$28K$3K
Office expensesLn 13$13K$12K$1K
Information technologyLn 14$847$762$85
OccupancyLn 16$129K$116K$13K
TravelLn 17$19K$19K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$63K$63K$133
All other expensesLn 24e$1K$1K
Total functional expensesLn 25$262K$243K$19K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $281K$262K$19K$121K 990 PDF
FY2023 $246K$196K$50K$102K 990 PDF
FY2022 $106K$52K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $280,698 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $57,940$25,470
I-9 Program service revenuePrior year $187,051$253,484
I-10 Investment incomePrior year $1,066$1,744
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $246,057$280,698
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$31,357
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $196,140$230,201
I-18 Total expensesPrior year $196,140$261,558
I-19 Revenue less expensesPrior year $49,917$19,140
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $280,698 across 12 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$25,470
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$25,470
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $253,484 · Unrelated business $0 · Excluded from tax $0$253,484
VIII-3 Investment incomeRelated to mission $1,744 · Unrelated business $0 · Excluded from tax $0$1,744
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $255,228 · Unrelated business $0 · Excluded from tax $0$280,698
Part IX · Statement of functional expenses $261,558 across 8 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $28,221 · Management $3,136$31,357
IX-13 Office expensesPrograms $11,561 · Management $1,285$12,846
IX-14 Information technologyPrograms $762 · Management $85$847
IX-16 OccupancyPrograms $116,371 · Management $12,930$129,301
IX-17 TravelPrograms $18,655$18,655
IX-23 InsurancePrograms $4,292$4,292
IX-24 Other expenses (24a–d)Programs $62,857 · Management $133$62,990
IX-24e All other expensesManagement $1,270$1,270
IX-25 Total functional expensesPrograms $242,719 · Management $18,839 · Fundraising $0$261,558
Part X · Balance sheet $134,858 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $76,459$96,619
X-10c Land, buildings and equipment, netStart of year $16,500$16,500
X-15 Other assetsStart of year $21,739$21,739
X-16 Total assetsStart of year $114,698$134,858
X-17 Accounts payable and accrued expensesStart of year $12,534$13,554
X-26 Total liabilitiesStart of year $12,534$13,554
X-27 Net assets without donor restrictionsStart of year $102,164$121,304
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $102,164$121,304
X-33 Total liabilities and net assetsStart of year $114,698$134,858
Part XI · Reconciliation of net assets $121,304 net assets at year end
XI-1 Total revenue$280,698
XI-2 Total expenses$261,558
XI-3 Revenue less expenses$19,140
XI-4 Net assets at start of year$102,164
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$121,304

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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