DME SPORTS FOUNDATION INC

EIN: 820922093 501(c)(3) Youth Development

DAYTONA BEACH, FL

Total Revenue
$241,400
Total Expenses
$15,774
Total Assets
$222,375
Net Assets
$221,200
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
FL
Principal Officer
MICHAEL J PANAGGIO
Phone
3862713900
Tax Period
2021-07-01 to 2022-06-30

DME SPORTS FOUNDATION INC, founded in 2017, is a small nonprofit in the Youth Development sector that reported $241K in total revenue in fiscal year 2021. The organization ran a surplus of $226K, a strong 93% operating margin.

Mission

TO PROVIDE SCHOLARSHIPS FOR ACADEMIC AND ATHLETIC ASSISTANCE TO QUALIFIED INDIVIDUALS WITH A DEMONSTRATED NEED.

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Trantor Score

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

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $241,400
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $241,400

Expense Breakdown

Grants Paid $13,650
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $13,650
Other Expenses $2,124
TOTAL EXPENSES $15,774

Year-over-Year Comparison

2021 2020 Change
Revenue $241,400 N/A N/A
Expenses $15,774 N/A N/A
Net Income $225,626 N/A N/A
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

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Liquidity & Cash Position

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Governance

Voting Members
4
Independent Members
N/A
Employees
N/A
Volunteers
N/A

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
0
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL J PANAGGIO Chairman 0.00
Director
$0 $0 $0
DANIEL M PANAGGIO Treasurer 0.00
Director
$0 $0 $0
HOBART WORLEY Secretary 0.00
Director
$0 $0 $0
CHARLENE GREER Director 0.00
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
2022 $241,400 $15,774 $222,375 $225,626
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