SOCAL ELITE SPORTS INC

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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

2007

Legal Domicile

Principal Officer

CARY LAMBETH

Phone

9496782949

Tax Period

2024-01-01 to 2024-12-31

SOCAL ELITE SPORTS INC, founded in 2007, is a community nonprofit in the Recreation & Sports sector that reported $1.5M in total revenue in fiscal year 2024.

Mission

SOCAL ELITE SPORTS, INC. WAS FORMED IN 2007 FOR EDUCATIONAL AND CHARITABLE PURPOSES SPECIFICALLY TO PROVIDE BASKETBALL CAMPS, CLINICS, TRAINING, SKILL DEVELOPMENT, AND COMPETITIVE TOURNAMENT ACTIVITIES FOR YOUNG BOYS AND GIRLS.

Program Service Accomplishments

Program 1

Expenses: $701,784 Revenue: $868,451

BASKETBALL LEAGUES AND CAMPS - SOCAL ELITE CONDUCTS SEASONAL BASKETBALL LEAGUES, EACH OF WHICH RUN FROM FIVE TO TEN WEEKS. LEAGUE PARTICIPANTS COME FROM THE SOCAL ELITE BASKETBALL ACADEMY OR FROM...

BASKETBALL LEAGUES AND CAMPS - SOCAL ELITE CONDUCTS SEASONAL BASKETBALL LEAGUES, EACH OF WHICH RUN FROM FIVE TO TEN WEEKS. LEAGUE PARTICIPANTS COME FROM THE SOCAL ELITE BASKETBALL ACADEMY OR FROM OTHER YOUTH RESIDENTS WITHIN THE COMMUNITY. SOCAL ELITE ALSO CONDUCTS SEVERAL SEASONAL CAMPS FOR BEGINNING, INTERMEDIATE, AND EXPERIENCED PLAYERS, RANGING IN AGE FROM 6-18.

Program 2

Expenses: $276,736 Revenue: $284,847

BASKETBALL ACADEMY - SOCAL ELITE CONDUCTS YEAR-ROUND BASKETBALL ACADEMIES (BASKETBALL SCHOOL), UTILIZING SEVERAL GYM FACILITIES THROUGHOUT IRVINE AND NEWPORT BEACH, CA. THE ACADEMIES INCLUDES WEEKLY TRAINING SESSIONS, SKILL DEVELOPMENT, SCRIMMAGES, FITNESS DEVELOPMENT, GAME SITUATIONS, ETC. THESE ARE ALL AGE-GROUP SESSIONS SO THAT YOUTH ATHLETES ARE PRACTICING WITH OTHERS OF THE SAME AGE GROUP.

Program 3

Expenses: $263,719 Revenue: $208,538

BASKETBALL CLUB TEAMS - SOCAL ELITE'S CLUB BASKETBALL TEAMS ARE A GREAT OPPORTUNITY FOR CHILDREN TO PLAY AGAINST THE TOP COMPETITION IN SOUTHERN CALIFORNIA. THIS EXPOSURE TO THE BEST COMPETITION IS PARAMOUNT TO A PLAYER'S IMPROVEMENT ON A GRANDER STAGE. OUR CLUB TEAMS PLAY IN 1-2 TOURNAMENTS PER MONTH AND PRACTICE TWO OR THREE TIMES PER WEEK IN INDOOR GYMNASIUMS. PLAYING ON A SOCAL ELITE CLUB TEAM IS A GREAT WAY TO DEVELOP CAMARADERIE WITH FELLOW TEAMMATES, ALL THE WHILE PLAYING AGAINST TOP-NOTCH COMPETITION. UNIQUE TO SOCAL ELITE, WE WILL ASSIST YOU WITH ANY FINANCIAL DIFFICULTIES YOU HAVE; OUR MAIN FOCUS IS TO MAKE SURE THAT THOSE PLAYERS WHO CAN PLAY AT THE CLUB LEVEL, DO PLAY AT THE CLUB LEVEL.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,470,092

Investment Income $17,272

Other Revenue $0

TOTAL REVENUE $1,487,364

Expense Breakdown

Grants Paid $54,940

Salaries & Benefits $722,820

Fundraising Expenses $0

Program Expenses $1,405,732

Other Expenses $722,628

TOTAL EXPENSES $1,500,388

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,487,364	$1,449,808	+0.0%
Expenses	$1,500,388	$1,566,106	0.0%
Net Income	$-13,024	$-116,298	-0.9%

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

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

$239,335

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARY LAMBETH	VP & Secretary	50.00	Officer	$92,000	$39,664	$131,664
PATRICK LEFLER	CEO	50.00	Officer	$92,000	$15,671	$107,671
CHRIS MCGARAHAN	Director	2.00	Officer	$0	$0	$0
KEVIN KARAMANOS	Director	2.00	Officer	$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	$1,487,364	$1,500,388	$902,727	$-13,024
2023	$1,449,808	$1,566,106	$928,208	$-116,298
2022	$1,518,135	$1,302,513	$1,055,937	$215,622
2021	$1,237,491	$847,015	$856,246	$390,476
2020	$569,334	$783,048	$180,025	$-213,714
2019	$1,351,686	$1,448,074	$319,497	$-96,388
2018	$1,506,494	$1,601,689	$415,885	$-95,195