Overview
What is Sport And Entertainment Corporation Of Maryland?
The Sport and Entertainment Corporation of Maryland, established in 2019, is a 501c3 nonprofit organization situated in Baltimore, Maryland. Its primary mission is to foster charitable, educational, and scientific purposes by promoting large-scale sport and entertainment events in the state. The corporation aims to incubate event integrity, support Maryland Sports in hosting major events, conduct economic analysis, sponsor these events, and collaborate with public and private entities. Additionally, its goal is to lessen the government's burden by promoting regional, national, and international sporting events in Maryland. By recruiting, marketing, and managing events with positive media exposure, economic impact, and image impact, the corporation aspires to enhance the quality of life for Maryland's citizens. Based in Baltimore, Maryland, the organization currently has a total of 3 employees dedicated to this mission.
Official website here: www.sportcorpmaryland.us
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 52%, One-Star out of Four Star rating.
The Sport and Entertainment Corporation of Maryland has received a low rating of 52% from Charity Navigator, indicating significant concerns regarding its financial management and accountability. While the organization has a fully independent board and scores well on certain governance aspects, it struggles notably in areas like financial statements and liabilities to assets ratio, which are critical for assessing financial health.
Strengths of the organization include a strong program expense ratio and fundraising efficiency, suggesting that when funds are raised, they are effectively utilized for programs. However, the lack of transparency in financial reporting and significant gaps in financial accountability raise red flags for potential donors and stakeholders.
Overall, the organization demonstrates strengths in governance policies and program implementation but lacks essential financial management practices that could undermine its credibility. Donors are encouraged to carefully consider these factors when evaluating their support for the nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Sport And Entertainment Corporation Of Maryland legitimate?
Sport And Entertainment Corporation Of Maryland is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sport And Entertainment Corporation Of Maryland 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: $175,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $262,680
For more financial information, click here
Official website here: www.sportcorpmaryland.us
What is the mission statement of Sport And Entertainment Corporation Of Maryland?
The Sport and Entertainment Corporation of Maryland, established in 2019, is a 501c3 organization with a mission to advance charitable, educational, and scientific purposes. Its primary objectives include incubating cultural and operational event integrity for large-scale sports and entertainment events, supporting Maryland Sports in hosting major events, conducting economic analysis and research related to sports, sponsoring major sports events, and developing partnerships with public and private entities. The corporation aims to lessen the government's burden by promoting regional, national, and international sporting events, and it focuses on recruiting, retaining, marketing, promoting, and managing sports events with positive media exposure, economic impact, and image impact. These events are intended to enhance the quality of life of citizens and attract major sports events to the state.
Official website here: www.sportcorpmaryland.us
What is the revenue of Sport And Entertainment Corporation Of Maryland?
Sport And Entertainment Corporation Of Maryland's revenue in 2023 was $14,366,786.
Official website here: www.sportcorpmaryland.us
Who are the executives of Sport And Entertainment Corporation Of Maryland and what are their salaries?
The average compensation at Sport And Entertainment Corporation Of Maryland during 2023 was $109,420. There are 4 employees and 400 volunteers at Sport And Entertainment Corporation Of Maryland.
Here are 2 key members and their salaries:
- Compensation: $175,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.sportcorpmaryland.us
Where can I find the form 990 for Sport And Entertainment Corporation Of Maryland?
Sport And Entertainment Corporation Of Maryland's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.sportcorpmaryland.us
Learn more at the official website: www.sportcorpmaryland.us
Mission Statement of Sport And Entertainment Corporation Of Maryland
The Sport and Entertainment Corporation of Maryland, established in 2019, is a 501c3 organization with a mission to serve charitable, religious, educational, and scientific purposes. Its primary goal is to foster and promote large-scale sporting and entertainment events in the state, aiming to lessen the government's burden by promoting regional, national, and international sporting events. The corporation strives to support Maryland Sports in hosting major events, conducting economic analysis and research related to sports, sponsoring such events, and forming partnerships with public and private entities to sponsor these events.
Furthermore, the Sport and Entertainment Corporation of Maryland is committed to recruiting, retaining, marketing, promoting, and managing sports events that have positive media exposure, economic impact, and image impact within the state. These events are expected to enhance the quality of life of Maryland's citizens. The corporation also seeks to solicit funds to support its mission, emphasizing the importance of these events in enriching the state's cultural landscape. In summary, the Sport and Entertainment Corporation of Maryland works to bolster Maryland's sporting scene, stimulate economic growth, and improve the overall well-being of its citizens through major events.
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Impact
July, 2024
The Sport and Entertainment Corporation of Maryland, a nonprofit organization established in 2019, plays a significant role in promoting large-scale sport and entertainment events in Maryland. Through its mission to support Maryland Sports in hosting major sports events, conducting economic analyses, and developing partnerships to sponsor such events, the corporation helps to bring regional, national, and international sporting events to the state. By recruiting, retaining, and managing sports events that generate positive media exposure and economic impact, the corporation enhances the quality of life for citizens of Maryland. One of its notable initiatives is the Maryland 5 Star at Fair Hill, which aims to deliver, plan, manage, and oversee activities starting in 2020. Overall, the Sport and Entertainment Corporation of Maryland's efforts contribute to the promotion of sports, entertainment, and cultural activities that benefit both the community and the state.
This information is meant to be a general summary of Sport And Entertainment Corporation Of Maryland. 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $27
- Program Service Revenue: $1,489,312
- Gross Receipts: $14,366,786
Assets and Liabilities:
- Total Assets: $72,408
- Total Liabilities: $2,883,942
- Net Assets: -$2,811,534
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CATERING AND CONCESSIONS
Revenue
$10,222
OTHER PROGRAM INCOME
Revenue
$175,636
PREAKNESS
Revenue
$150,000
TICKETS & HOSPITALITY
Revenue
$1,148,028
VENDORS
Revenue
$5,426
Organization Details
Founding Year
2019
Principal Officer
Terrance Hasseltine
Website
www.sportcorpmaryland.usNTEE Category
Code: N99 - Recreation
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