SPORTS AND FITNESS INDUSTRY ASSOCIATION

EIN: 360753520

SILVER SPRING, MD

Total Revenue
$1,981,372
Total Expenses
$2,024,217
Total Assets
$4,467,660
Net Assets
$4,091,038
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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
1975
Legal Domicile
IL
Principal Officer
THOMAS J COVE
Phone
3014956321
Tax Period
2023-01-01 to 2023-12-31

SPORTS AND FITNESS INDUSTRY ASSOCIATION, founded in 1975, is a community nonprofit that reported $2.0M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. Net assets of $4.1M represent 25 months of operating reserves.

Mission

TO PROMOTE SPORTS AND FITNESS PARTICIPATION AND INDUSTRY VITALITY.

Program Service Accomplishments

Program 1

UNDERTOOK MARKETING SERVICES, MEMBER SERVICES, LEGISLATIVE ACTIVITIES AND EDUCATIONAL ACTIVITIES TO PROMOTE AND FOSTER THE SPORTING GOODS INDUSTRY.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $264,149
Program Service Revenue $1,288,923
Investment Income $221,763
Other Revenue $206,537
TOTAL REVENUE $1,981,372

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,087,378
Fundraising Expenses $0
Other Expenses $936,839
TOTAL EXPENSES $2,024,217

Year-over-Year Comparison

2023 2022 Change
Revenue $1,981,372 $1,604,131 +0.2%
Expenses $2,024,217 $2,076,517 0.0%
Net Income $-42,845 $-472,386 -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

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Governance

Voting Members
23
Independent Members
22
Employees
6
Volunteers
100

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
3
$409,092
Total Directors
23
$409,092
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THOMAS COVE CEO 40.00
Officer Director
$386,239 $22,853 $409,092
JONATHAN RAM CHAIR 10.00
Officer Director
$0 $0 $0
ROMAN OBEN TREASURER 10.00
Officer Director
$0 $0 $0
DAN ARMENT BOARD MEMBER 5.00
Director
$0 $0 $0
MIKE DOWSE BOARD MEMBER 5.00
Director
$0 $0 $0
RAY HILVERT BOARD MEMBER 5.00
Director
$0 $0 $0
LAURA ST GEORGE BOARD MEMBER 5.00
Director
$0 $0 $0
NEIL MORTON BOARD MEMBER 5.00
Director
$0 $0 $0
RICHARD SULLIVAN BOARD MEMBER 5.00
Director
$0 $0 $0
MARCO ZAMBIANCHI BOARD MEMBER 5.00
Director
$0 $0 $0
JENNIFER BENDALL BOARD MEMBER 5.00
Director
$0 $0 $0
DAN SHERIDAN BOARD MEMBER 5.00
Director
$0 $0 $0
MIKE ZLAKET BOARD MEMBER 5.00
Director
$0 $0 $0
TERRANCE BABAILLA BOARD MEMBER 5.00
Director
$0 $0 $0
KIM DAVIS BOARD MEMBER 5.00
Director
$0 $0 $0
MELISSA DAWSON BOARD MEMBER 5.00
Director
$0 $0 $0
DAVE ELLIOTT BOARD MEMBER 5.00
Director
$0 $0 $0
JEFF FIORINI BOARD MEMBER 5.00
Director
$0 $0 $0
RAWLEIGH GROVE BOARD MEMBER 5.00
Director
$0 $0 $0
RAY HILVERT BOARD MEMBER 5.00
Director
$0 $0 $0
SCOTT MCDONALD BOARD MEMBER 5.00
Director
$0 $0 $0
MICHAEL SCHROEDER BOARD MEMBER 5.00
Director
$0 $0 $0
KURT TANDAN BOARD MEMBER 5.00
Director
$0 $0 $0
WILLIAM SELLS SENIOR VP 40.00
Highest
$205,923 $21,554 $227,477
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 $1,981,372 $2,024,217 $4,467,660 $-42,845
2022 $1,604,131 $2,076,517 $4,190,806 $-472,386
2021 $1,645,847 $1,767,901 $5,448,074 $-122,054
2020 $1,575,650 $1,610,311 $4,965,561 $-34,661
2019 $2,534,352 $2,465,455 $4,675,114 $68,897
2018 $2,185,017 $2,489,657 $4,209,979 $-304,640
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