SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND

EIN: 834686104 501(c)(3) Recreation & Sports

BALTIMORE, MD

Total Revenue
$14,366,786
Total Expenses
$11,277,293
Total Assets
$246,316
Net Assets
$246,316
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
MD
Principal Officer
Terrance Hasseltine
Phone
4102234139
Tax Period
2023-01-01 to 2023-12-31

SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND, founded in 2019, is a mid-sized nonprofit in the Recreation & Sports sector that reported $14.4M in total revenue in fiscal year 2023. Revenue surged 158% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.1M, a strong 22% operating margin.

Mission

The Sport and Entertainment Corporation of Maryland is a 501c3 established in 2019 to further and promote exclusively, charitable, religious, educational and scientific purposes and the business and objects to be carried on and promoted by it are: 1 To incubate cultural and operational event integrity for large scale sport and entertainment events in Maryland 2 To support Maryland Sports in hosting major sports events, economic analysis and research relating to sports, sponsorship of major sports events, and development of partnerships with other public and private entities to sponsor major sports events 3 To lessen the governments burden by promoting regional, national and international sporting events in the State of Maryland 4 To recruit, retain, market, promote and manage sports events that have positive media exposure, economic impact and image impact within the State of Maryland, and which will enhance the quality of life of citizens of the State of Maryland and 5 To solicit and

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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 $12,849,004
Program Service Revenue $1,489,312
Investment Income $0
Other Revenue $28,470
TOTAL REVENUE $14,366,786

Expense Breakdown

Grants Paid $0
Salaries & Benefits $516,230
Fundraising Expenses $241,873
Program Expenses $10,434,671
Other Expenses $10,761,063
TOTAL EXPENSES $11,277,293

Year-over-Year Comparison

2023 2022 Change
Revenue $14,366,786 $5,571,617 +1.6%
Expenses $11,277,293 $8,661,570 +0.3%
Net Income $3,089,493 $-3,089,953 -2.0%
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
1
Independent Members
1
Employees
4
Volunteers
400

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
1
$0
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFFREY NEWMAN PRESIDENT OF MARYLAND 5 STAR 40.00
$175,000 $0 $175,000
Terry Hasseltine President 25.00
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
2023 $14,366,786 $11,277,293 $246,316 $3,089,493
2022 $5,571,617 $8,661,570 $72,408 $-3,089,953
2021 $1,410,259 $1,935,364 $53,419 $-525,105
2020 $688,463 $899,818 $169,001 $-211,355
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