2019-05-10T09:24:23-05:00 2018-12-31 210650289 KLATZKIN & COMPANY LLP 1670 WHITEHORSE HAM SQ RD HAMILTON NJ 086903513 990 2018-01-01 236275472 UNITED STATES ROWING ASSOCIATION UNIT 6097510702 2 WALL STREET PRINCETON NJ 08540 BRIAN KLAUSNER CHIEF FINANCIAL OFFICER 6097510702 2019-05-10 1 THOMAS MARTIN P00123816 6098909189 75.99.151.218 2019-05-10 10:23:39 ED P 743A319AABA2A220760A38602628C04509F2C57F AC2856AA1C715CCDA862DC299A839AC81C19109D 2018 2019-02-21 02:37:17Z PATRICK MCNERNEY 2 WALL STREET PRINCETON NJ 08540 11733209 0 X WWW.USROWING.ORG X 1970 NJ The Association supports and promotes the sport of rowing. 14 14 48 2800 6100 0 3538715 4401265 6236382 6684010 25998 37611 170649 181034 9971744 11303920 0 0 0 0 3178355 3375400 30000 30000 213381 6797383 8096995 10005738 11502395 -33994 -198475 1622488 1742335 1271245 1643714 351243 98621 X See Schedule O 0 0 5124169 4982098 To promote the development for the sport of rowing throughout the world and to provide support for programmatic activities during the year. To organize and hold regattas, conferences, and other events related to the promotion of the sport of rowing. 5855387 1708833 To provide financing, equipment and resources for the National Rowing Team to allow them to train and compete. 10979556 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 1 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 1 0 0 1 123 0 48 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 14 14 0 0 1 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 CA FL GA IL IN MD MA NJ NY NC OK OR PA TN VA MI MN NH WI AL KS KY SC X X BRIAN KLAUSNER 6097510702 2 WALL STREET PRINCETON NJ 08540 MARCIA HOOPER PRESIDENT, WOMEN'S VICE CH 10.00 X X 0 0 0 JIM DIETZ MEN'S VICE CHAIR 10.00 X X 0 0 0 NOBUHISA ISHIZUKA SECRETARY 10.00 X X 0 0 0 NICK LACAVA TREASURER 10.00 X X 0 0 0 JAMIE REDMAN DIRECTOR 10.00 X 0 0 0 DARLENE DISNEY DIRECTOR 10.00 X 0 0 0 CHARLIE HAIGHT DIRECTOR 10.00 X 0 0 0 JIMMY SOPKO DIRECTOR 10.00 X 0 0 0 LISA STONE DIRECTOR 10.00 X 0 0 0 STEVE SHURE DIRECTOR 10.00 X 0 0 0 JOSEPH MANION DIRECTOR 10.00 X 0 0 0 MEGHAN O'LEARY DIRECTOR 10.00 X 0 0 0 BILL DONOHO DIRECTOR 10.00 X 0 0 0 FALESHA THRASH DIRECTOR 10.00 X 0 0 0 BRIAN KLAUSNER CHIEF FINANCIAL OFFICER 40.00 X 119557 0 12627 PATRICK MCNERNEY CHIEF EXECUTIVE OFFICER 40.00 X 193868 0 10862 SUSAN SMITH CHIEF DOMESTIC OFFICER 40.00 X 109324 0 12881 THOMAS TERHAAR COACH 40.00 X 252602 0 35246 LAUREL KORHOLZ COACH 40.00 X 160132 0 12396 MIKE TETI COACH 40.00 X 186592 0 13776 MARK NOWAK DIRECTOR OF ATHLETE HEALTH 40.00 X 139509 0 11768 MATT IMES HIGH PERFORMANCE DIRECTOR 40.00 X 115117 0 4724 1276701 0 114280 10 0 1 0 0 95410 4305855 554273 4401265 MEMBERSHIP DUES 713990 3054894 3054894 REGATTAS/CONFERENCES 713990 1927204 1927204 NATL & JR NATL TEAM EVENTS 713990 1701912 1701912 6684010 16194 16194 147177 147177 283270 261853 21417 21417 21417 148752 95410 148752 0 25605 18684 6921 6921 MISCELLANEOUS 900099 20836 20836 SPONSORSHIPS 900099 6100 6100 26936 11303920 6690931 6100 205624 459119 273812 153271 32036 2446974 2356840 90134 56193 54531 1662 201538 198624 2914 211576 194402 15209 1965 132126 119028 8727 4371 28648 26127 2091 430 30000 30000 114058 81366 2648 30044 44261 38819 35 5407 291465 271665 5307 14493 309775 301979 6467 1329 2753665 2730787 7996 14882 514097 459062 55035 152435 141159 9354 1922 559012 558351 548 113 LESS:DIRECT FUNDRAISING -148752 -148752 EVENT EXPENSE 1405998 1262564 1708 141726 IN KIND EXPENSES 531122 505727 25395 ROWING MAGAZINE PUBLISH 515018 515018 894067 889695 1387 2985 11502395 10979556 309458 213381 X 41407 47961 492179 409825 271702 372598 11340 11340 146090 275764 1179659 982837 209006 196822 450764 428025 1622488 1742335 324677 713784 935875 929930 10693 1271245 1643714 X -99521 -329404 450764 428025 351243 98621 1622488 1742335 -198475 -54147 0 X X 0 1 X 1 0 X 3265870 4639280 5130011 3538715 4401265 20975141 3265870 4639280 5130011 3538715 4401265 20975141 451363 20523778 137722 155921 142038 135314 163371 734366 40867 61489 58863 34896 26936 223051 21932558 27515092 0.93580 0.93870 X Schedule A, Part II, Line 10, Explanation of Other Income: MISCELLANEOUS - 2014 Amount: $ 40,867. 2015 Amount: $ 61,489. 2016 Amount: $ 58,863. 2017 Amount: $ 34,896. 2018 Amount: $ 26,936. 450764 -22739 428025 392710 58054 450764 382906 14262 4458 392710 393571 -7676 2989 382906 398041 6287 10757 393571 0.58500 0.41500 0 0 1179659 982837 196822 196822 X Part V, Line 4: The Organization's endowment consists of several individual funds established by donors to provide funding for the US Women's Open Weight and Lightweight programs. Part X, Line 2: The Organization's federal exempt and unrelated business income returns are subject to examination by the IRS, generally for three years after they were filed. The statute of limitations does not apply to unfiled returns. The Organization believes that all required tax returns have been filed. The Organization has determined that there are no material uncertain tax positions that require disclosure in the consolidated financial statements. X X X 1 JENNIFER W KIERSTEAD CONSULTING 179 MAIN STREETSUITE 204 WATERVILLE ME 04901 WRITING GRANT APPLICATIONS 0 250000 30000 220000 250000 30000 220000 CA CT FL GA IL IN MD MA NJ NY NC OH OK OR PA TN VA WA CO MI MN NH WI AL KS KY ME SC MO GOLDEN OARS GALA 135290 34052 101238 1112 55035 45090 GOLF OUTING 108872 61358 47514 22119 25396 244162 95410 148752 1112 77154 70486 148752 0 X 1 1 X X 0 0 0 0 0 0 0 0 0 PATRICK MCNERNEY CHIEF EXECUTIVE OFFICER 193868 0 0 0 0 0 1538 0 9324 0 204730 0 0 0 THOMAS TERHAAR COACH 252602 0 0 0 0 0 7694 0 27552 0 287848 0 0 0 LAUREL KORHOLZ COACH 160132 0 0 0 0 0 4800 0 7596 0 172528 0 0 0 MIKE TETI COACH 186592 0 0 0 0 0 0 0 13776 0 200368 0 0 0 MARK NOWAK DIRECTOR OF ATHLETE HEALTH 139509 0 0 0 0 0 4172 0 7596 0 151277 0 0 0 Part I, Line 1b The US Rowing Association's coachs' contracts permit them to bring spouses to the rowing events. In 2018, Coach Thomas Terharr brought his wife to an event. This benefit was properly recorded in his W-2 wages. ALYCE KLAUSNER ALYCE'S HUSBAND, BRIAN, IS THE CFO OF THE ORGANIZATION 22037 ALYCE IS A PART-TIME EMPLOYEE OF US ROWING 0 X 435904 FAIR MARKET VALUE X AIRLINE TICKETS 1 72224 FAIR MARKET VALUE X AUCTION ITEMS 62 25645 FAIR MARKET VALUE X TRAVEL SPONSORSHIP 1 20500 FAIR MARKET VALUE 0 0 0 Part I, Column (b): The number of times airline tickets were contributed is recorded as the number of contributions rather than the number of tickets contributed. All airline tickets contributed came from the same donor. The number of contributions of auction items is reported at the number of items donated for auction. The number of travel sponsorships is recorded as the number of contributions, not the number of items contributed. Form 990, Part III, Line 1 To provide ongoing opportunities to achieve excellence in rowing in the United States. In pursuit of this mission, US Rowing seeks to increase awareness of rowing, grow lifetime participation in rowing, provide education on rowing safety, healthy training methods, and effective rowing techniques, provide standards for all rowers of safe, fair racing, and continually improve performance at the Olympic games. Form 990, Part VI, Section A, line 4 On March 7,2018 the Board voted to revise the Association's bylaws. The Treasurer's duties were updated to include serving as the Chair of the Finance and Audit Committee. Form 990, Part VI, Section A, line 6 The Association has four classes of membership: Individual Members, Organizational Members, National Association Members and Athlete Members. The Individual, Organizational, and Athlete Members participate in the election of board members. None of the members receive a share of the Association's profits or excess dues or a share of the Association's net assets upon dissolution. Form 990, Part VI, Section A, line 7a The Association has four classes of membership: Individual Members, Organizational Members, National Association Members and Athlete Members. Individual Members are eligible to vote soley to elect the Male Vice Chair and Female Vice Chair of the Association. Organizational Members are eligible to vote to elect Regional Directors and to amend the bylaws. National Association Members do not have voting rights. Athlete Members have the right to elect the Board Athlete Representatives and the Athlete Advisory Council Representative. They may also vote on amendments to the bylaws. Form 990, Part VI, Section A, line 7b The Organizational and Athlete Members have the right to alter, amend, or suspend portions of the bylaws by a vote of two-thirds of votes cast at a Special Meeting of Members. Form 990, Part VI, Section A, line 8b The organization has no committee with the power to act on behalf of the board therefore there is no documentation of any such meetings. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed by the Association's Chief Financial Officer, Chief Executive Officer, and the Finance and Audit Committee, and is then presented to the board of directors prior to filing. Form 990, Part VI, Section B, line 12c Members must annually disclose any involvements with other organizations, with vendors, or any other associations that might produce a conflict or be perceived as producing a conflict. Form 990, Part VI, Section B, line 15 The Chief Executive Officer's salary is reviewed by the compensation committee and approved by the board of directors. The Chief Financial Officer's salary is included in the Association's annual budget which is approved by the board of directors. When CFO Brian Klausner was hired the board used the Robert Half Salary guide for data concerning comparable compensation. When CEO Patrick McNerney was hired the board used comparable compensation data provided by executive recruiters. Form 990, Part VI, Section C, line 19 The Association makes governing documents, the conflict of interest policy, and financial statements available to the public on their website. Form 990, Part X, lines 27-29 The Organization has adopted the principles of FASB ASU No. 2016-14 (ASC958) for its audited financial statements for the periods ended December 31,2018 and 2017. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus we have included the net asset categories in our audited financial statements on existing Form 990, Part X, Lines 27-29 as follows: 2018 2017 Net assets without donor restrictions $(329,404) $( 99,521) Net assets with donor restrictions 428,025 450,764 Total net assets $ 98,621 $ 351,243 Unrestricted net assets $(329,404) $( 99,521) Temporarily restricted net assets 428,025 450,764 Permanently restricted net assets 0 0 Total net assets $ 98,621 $ 351,243 Form 990, Part XII, line 2c The finance and audit committee select an accounting firm to perform the audit of the financial statements. Their selection is then approved by the board of directors. The audit is overseen by the Chief Executive Officer and the Controller. The ending financial statements are reviewed by the finance and audit committee before being presented to the board of directors. CASITAS FUND 2 WALL STREET PRINCETON NJ 08540 311148247 TO ACT FOR THE EXCLUSIVE BENEFIT OF THE US ROWING ASSOCIATION IN 501(c)(3) Line 12a, I UNITED STATES ROWING ASSOCIATION 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CASITAS FUND INC C 77448 CASH