USTA NATIONAL TENNIS CENTER INCORP… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1978

Legal Domicile

Principal Officer

LEWIS SHERR

Phone

9146967000

Tax Period

2023-01-01 to 2023-12-31

USTA NATIONAL TENNIS CENTER INCORPORATED, founded in 1978, is a major nonprofit in the Recreation & Sports sector that reported $140.8M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $130.1M left a modest 8% surplus.

Mission

TO PROMOTE AND DEVELOP THE GAME OF TENNIS AS A MEANS TO HEALTHFUL RECREATION AND PHYSICAL FITNESS AND TO OPERATE A YEAR-ROUND PUBLIC RECREATIONAL FACILITY.

Program Service Accomplishments

Program 1

Expenses: $115,188,179 Revenue: $121,733,398

THE USTA BILLIE JEAN KING NATIONAL TENNIS CENTER ANNUALLY HOSTS THE US OPEN TENNIS CHAMPIONSHIPS, OPEN TO MALE AND FEMALE PROFESSIONAL AND AMATEUR TENNIS PLAYERS. NTC'S EXEMPT PURPOSES INCLUDES THE OPERATION OF TENNIS FACILITIES, PART OF WHICH INCLUDES THE US OPEN. IN 2023, THE US OPEN BROKE ITS TWO- AND THREE-WEEK ATTENDANCE RECORDS AND BECAME THE FIRST GRAND SLAM EVENT TO WELCOME MORE THAN 950,000 SPECTATORS OVER A THREE-WEEK PERIOD. THE US OPEN WELCOMED OVER 950,000 FANS TO THE GROUNDS OVER THE EVENT'S THREE WEEKS IN 2023, INCLUDING OVER 150,000 ATTENDEES TO 'FAN WEEK,' WHICH IS FREE TO ATTEND.

Program 2

Expenses: $13,632,571 Revenue: $6,565,482

THE COMMUNITY TENNIS DEVELOPMENT PROGRAM AT THE USTA BILLIE JEAN KING NATIONAL TENNIS CENTER PROMOTES AND DEVELOPS THE GAME OF TENNIS FOR YOUNGSTERS AND THE GENERAL PUBLIC THROUGH TENNIS CLINICS AND...

Program 3

Expenses: $407,776 Revenue: $2,632,800

IN ACCORDANCE WITH THE NEW YORK CITY LEASE AND IN FURTHERANCE OF ITS CHARITABLE PURPOSE OF LESSENING THE BURDENS OF THE GOVERNMENT OF THE CITY OF NEW YORK, THE NTC IS AVAILABLE FOR RECREATIONAL...

IN ACCORDANCE WITH THE NEW YORK CITY LEASE AND IN FURTHERANCE OF ITS CHARITABLE PURPOSE OF LESSENING THE BURDENS OF THE GOVERNMENT OF THE CITY OF NEW YORK, THE NTC IS AVAILABLE FOR RECREATIONAL EVENTS, ETHNIC AND COMMUNITY FESTIVALS, SCHOLASTIC ATHLETIC EVENTS AND OTHER PUBLIC SPECTATOR EVENTS. THE FACILITY IS A LARGELY YEAR-ROUND PUBLIC FACILITY FOR THE PEOPLE OF NYC.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $130,931,680

Investment Income $9,563,134

Other Revenue $301,956

TOTAL REVENUE $140,796,770

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,061,502

Fundraising Expenses $0

Program Expenses $129,228,526

Other Expenses $115,066,371

TOTAL EXPENSES $130,127,873

Year-over-Year Comparison

	2023	2022	Change
Revenue	$140,796,770	$124,437,842	+0.1%
Expenses	$130,127,873	$128,747,640	+0.0%
Net Income	$10,668,897	$-4,309,798	-3.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

1660

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,749,740

Total Directors

$212,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEWIS SHERR	CEO & EXECUTIVE DIRECTOR	10.0	Officer	$0	$65,325	$1,554,825
Daniel Zausner	VP, CHIEF OPERATING OFFICER	40.0	Officer	$1,044,151	$40,764	$1,084,915
Charles Jettmar	MD, CAPITAL PROJ. & ENGINEER.	40.0	Highest	$310,293	$42,190	$352,483
Adam Sinclair	SR. DIR., FACILITY OPERATIONS	40.0	Highest	$244,738	$48,238	$292,976
Christopher Studley	SR. DIRECTOR, EVENT SERVICES	40.0	Highest	$261,690	$27,936	$289,626
Monica Harrigan	SR. DIR., TICKET OPERATIONS	40.0	Highest	$240,535	$46,768	$287,303
JOHN DALE EVANS JR	DIRECTOR OF TENNIS OPERATIONS	40.0	Highest	$201,873	$16,821	$218,694
Dr Brian Hainline	CHAIRMAN & PRESIDENT	4.0	Officer Director	$0	$0	$35,000
Brian Vahaly	FIRST VICE PRESIDENT	3.0	Officer Director	$0	$0	$25,000
Megan Moulton-Levy	Director	2.0	Director	$0	$0	$22,400
Laura F Canfield	Vice President	3.0	Officer Director	$0	$0	$20,000
Kathleen Francis	Vice President	3.0	Officer Director	$0	$0	$20,000
Michael McNulty III	IMMEDIATE PAST PRESIDENT	2.0	Officer Director	$0	$0	$10,000
Violet Clark	DIRECTOR	2.0	Director	$0	$0	$10,000
Jeffrey Baill	Director	2.0	Director	$0	$0	$10,000
Liezel H Huber	Director	2.0	Director	$0	$0	$10,000
Vania King	Director	2.0	Director	$0	$0	$10,000
Emily S Schaefer	Director	2.0	Director	$0	$0	$10,000
MAGGIE CHAN JONES	DIRECTOR	2.0	Director	$0	$0	$10,000
BILL MCGUGIN	DIRECTOR	2.0	Director	$0	$0	$10,000
Bobby Sharma	Director	2.0	Director	$0	$0	$10,000
J Christopher Lewis	secretary & treasurer	3.0	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$140,796,770	$130,127,873	$631,896,351	$10,668,897
2022	$124,437,842	$128,747,640	$645,440,262	$-4,309,798
2021	$101,301,165	$120,878,791	$677,259,394	$-19,577,626
2020	$6,638,673	$105,239,439	$724,816,653	$-98,600,766
2019	$110,624,552	$138,460,381	$756,531,926	$-27,835,829
2018	$94,294,533	$119,206,987	$819,930,011	$-24,912,454

USTA NATIONAL TENNIS CENTER INCORPORATED