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Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 043650760 ✦ Portsmouth, VA ✦ Designated as a 501(c)(4)

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Overview

What is Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley?

Portsmouth Invitational Tournament Foundation Inc, led by Robert Stanley, is a distinguished nonprofit organization situated in Portsmouth, Virginia. The primary objective of this organization is to host the annual Portsmouth Invitational Basketball Tournament (PIT). The tournament serves multiple purposes, including providing college scholarships for local high school students, making charitable contributions to community organizations, showcasing the city of Portsmouth, and boosting the local economy. The foundation raises funds through events like the PIT, which are then allocated for charitable purposes and scholarships for deserving student-athletes from local high schools.


Official website here: www.portsmouthinvitational.com

Is Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley legitimate?

Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley is a legitimate nonprofit organization registered as a 501(c)(4) entity. Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.


Heare are some key statistics you may want to consider:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here


Official website here: www.portsmouthinvitational.com

What is the mission statement of Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley?

The Portsmouth Invitational Tournament Foundation's mission involves raising funds through various activities, such as the annual basketball tournament. These funds are then allocated for charitable purposes, benefiting nonprofit community organizations, and providing scholarships to deserving student-athletes graduating from local high schools. The primary event, the Portsmouth Invitational Tournament, serves multiple purposes. It offers college scholarships to talented high school students, contributes to charitable organizations, showcases the city, and positively impacts the local economy.


Official website here: www.portsmouthinvitational.com

Who is the CEO of Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley?

James Stanley is the Director of Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley.


Official website here: www.portsmouthinvitational.com

What is the revenue of Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley?

Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley's revenue in 2022 was $152,024.


Official website here: www.portsmouthinvitational.com

Who are the executives of Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley and what are their salaries?


Here are 13 key members and their salaries:


Jack Ankerson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Terry Baronner (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michael Boyd (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Randy Caviness (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Synthia Goode (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Clifton Jones (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
John Round (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Richard Wentz (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Angela Bovee (Recording Se)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michael Morris (Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Clifford Sayles (Co-Vice Chai)
  • Compensation: $0
  • Related: $0
  • Other: $0
James Stanley (Treasurer, C)
  • Compensation: $0
  • Related: $0
  • Other: $0
Scott Taylor (Co-Vice Chai)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.portsmouthinvitational.com

Where can I find the form 990 for Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley?

Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.portsmouthinvitational.com

Learn more at the official website: www.portsmouthinvitational.com

Mission Statement of Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley

The Portsmouth Invitational Tournament Foundation Inc, led by Robert Stanley, is an organization dedicated to generating funds through various activities, including the annual Portsmouth Invitational Tournament (PIT). The primary purpose of these funds is twofold: to provide charitable contributions to a multitude of nonprofit community organizations and to offer scholarships to deserving student-athletes who are set to graduate from local high schools. By hosting the PIT, the foundation aims to showcase the city of Portsmouth, contributing positively to its economy, while simultaneously promoting educational opportunities for promising young athletes.

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Impact




October, 2024

The Portsmouth Invitational Tournament Foundation Inc, under the leadership of Robert Stanley, has a significant impact on the community by raising funds through the Portsmouth Invitational Tournament (PIT). This event not only showcases basketball talent but serves a greater purpose by providing scholarships to deserving local high school athletes. These scholarships empower students to pursue higher education, fostering their academic and athletic endeavors.

Additionally, the funds generated from the tournament are directed towards charitable contributions to various community organizations, enhancing the social fabric of Portsmouth, VA. By focusing on education and community development, the foundation plays a crucial role in uplifting the local economy and promoting Portsmouth as a vibrant city. The annual tournament has become a cornerstone event, fostering community pride and engagement while investing in the future of its youth.




This information is meant to be a general summary of Portsmouth Invitational Tournament Foundation Inc C/O Robert Stanley. Please take the time to review official sources before making any decisions based upon the content provided here.


Financials

This financial information is from Propublica.

Revenue
$152,024 (2022)
Expenses
$204,480 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $111
  • Program Service Revenue: $126,863
  • Gross Receipts: $152,024

Assets and Liabilities:

  • Total Assets: $451,387
  • Total Liabilities: $0
  • Net Assets: $451,387

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

BASKETBALL TOURNAMENT

Revenue

$126,863

Organization Details

Founding Year

2002

Principal Officer

James Stanley

Main Address

5606 GREENEFIELD DRIVE SOUTH, PORTSMOUTH, VA, 23703

NTEE Category

Code: N70 - Recreation

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