Overview
What is Spokane Hoopfest Association?
Spokane Hoopfest Association is a vibrant nonprofit organization located in Spokane, Washington. Their primary mission is to foster a passion for basketball within the local community. They achieve this by organizing the renowned Hoopfest Weekend Basketball Tournament, attracting around 4,200 teams in 2023, marking an increase of approximately 700 teams from the previous year. Beyond the tournament, they also focus on youth leagues, nurturing the next generation of basketball enthusiasts. Additionally, they are dedicated to improving community facilities, maintaining outdoor courts, and promoting the local basketball community by sponsoring a hall of fame in Spokane's River Front Park. As of the provided information, the association employs 33 individuals, demonstrating their commitment to this endeavor.
Official website here: www.spokanehoopfest.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Stars)
Spokane Hoopfest Association has achieved a solid rating of 84% from Charity Navigator, indicating a good level of accountability and financial health. The score is based entirely on its accountability and finance metrics, reflecting the organization's commitment to transparency and responsible management. Notably, it has received full marks for various components, such as having a majority of independent board members and a strong program expense ratio.
The organization demonstrates strong governance practices, as evidenced by its policies on material asset diversion, conflict of interest, and document retention. However, it lacks a whistleblower policy, which may be a concern for some stakeholders. This gap could suggest a need for improvement in ensuring that potential ethical concerns are adequately addressed.
While the fundraising efficiency ratio appears to be low, indicating that the costs of raising funds may be high relative to the amount raised, the organization maintains a healthy working capital ratio and a reasonable liabilities to assets ratio. Overall, Spokane Hoopfest Association shows strengths in governance and program spending, but it may benefit from addressing its weaknesses in fundraising and whistleblower protections.
This AI summary has been generated from information found on Charity Navigator.
Is Spokane Hoopfest Association legitimate?
Spokane Hoopfest Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Spokane Hoopfest Association 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: $117,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $456,055
For more financial information, click here
Official website here: www.spokanehoopfest.net
What is the mission statement of Spokane Hoopfest Association?
The Spokane Hoopfest Association aims to inspire, connect, and foster growth in basketball within diverse communities by providing exceptional and inclusive basketball experiences. This is achieved through the organization of the world's largest 3-on-3 tournaments, youth leagues, maintaining and improving outdoor basketball courts, and establishing a basketball hall of fame. The association's goal is to engage and empower individuals through basketball, fostering a sense of community and shared passion for the sport.
Official website here: www.spokanehoopfest.net
Who is the CEO of Spokane Hoopfest Association?
Rick Betts is the Executive Director of Spokane Hoopfest Association.
Official website here: www.spokanehoopfest.net
What is the revenue of Spokane Hoopfest Association?
Spokane Hoopfest Association's revenue in 2023 was $2,778,844.
Official website here: www.spokanehoopfest.net
Who are the executives of Spokane Hoopfest Association and what are their salaries?
The average compensation at Spokane Hoopfest Association during 2023 was $17,365. There are 33 employees and 2500 volunteers at Spokane Hoopfest Association.
Here are 11 key members and their salaries:
- Compensation: $117,000
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- Other: $5,069
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- Other: $0
Official website here: www.spokanehoopfest.net
Where can I find the form 990 for Spokane Hoopfest Association?
Spokane Hoopfest Association's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.spokanehoopfest.net
Learn more at the official website: www.spokanehoopfest.net
Mission Statement of Spokane Hoopfest Association
The Spokane Hoopfest Association aims to inspire, connect, and foster growth in basketball within the broader Spokane community. They achieve this by providing exceptional and inclusive basketball experiences. Their primary focus is on organizing the largest 3 on 3 tournaments globally, attracting a diverse range of participants. Beyond tournaments, the association also supports youth leagues, contributing to the development of young basketball enthusiasts. They are actively involved in the maintenance and construction of outdoor community basketball courts, ensuring accessibility to the sport for everyone. Furthermore, the Spokane Hoopfest Association is responsible for establishing and sustaining a Spokane Basketball Hall of Fame in Spokane's River Front Park, honoring the region's basketball legends and celebrating the sport's history.
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Impact
July, 2024
The Spokane Hoopfest Association's impact can be seen in the significant growth and engagement of basketball in the greater Spokane community. The organization's premier event, the Hoopfest Weekend Basketball Tournament, has consistently drawn a large number of teams, reaching approximately 4,200 teams in 2023, showcasing a substantial increase from previous years. By providing inclusive opportunities for basketball enthusiasts of all ages and skill levels, the association's mission to inspire, connect, and grow the sport in Spokane is clearly making a tangible impact. The efforts to build and maintain outdoor community courts and support programs like youth leagues and the Spokane basketball hall of fame further highlight the organization's commitment to fostering a vibrant basketball culture in the city.
This information is meant to be a general summary of Spokane Hoopfest Association. 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: $38,510
- Program Service Revenue: $1,051,898
- Gross Receipts: $2,877,097
Assets and Liabilities:
- Total Assets: $2,436,993
- Total Liabilities: $759,590
- Net Assets: $1,677,403
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Player & team registrations
Revenue
$1,051,898
Organization Details
Founding Year
1990
Phone
(509) 624-2414Principal Officer
Rick Betts
Main Address
421 W Riverside Suite 115, Spokane, WA, 99201
Website
www.spokanehoopfest.netNTEE Category
Code: A99Z - Arts
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