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FLWC and the other RTC Finance Reports

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FLWC and the other RTC Finance Reports

Postby JM » Wed Aug 02, 2017 10:59 am

NOTE: THE FLWC IS RANKED 3rd OF ALL CLUBS REVIEWED in the USA in NET ASSETS

From an interesting article a couple days ago on FLO:
Jul 31, 2017

by Christian Pyles

Over the past few years, Division I programs have upped the ante in their push to remain at the top. This competitiveness has manifested in higher coaching salaries, development in regional training centers, and a greater emphasis on fundraising.

FloWrestling has obtained tax information for a number of wrestling clubs and organizations. After reviewing years of tax information, the most fascinating find is the incredible financial situation of the Nittany Lion Wrestling Club.

As of its 2015 form (many 2016 tax forms aren't expected until October), the Nittany Lion Wrestling Club had net assets of $5.7 million -- a figure that was nearly eight times more the second-highest supported organization, the Hawkeye Wrestling Club.

If you take a look back to 2014, you can see when the Nittany Lion Wrestling Club became far and away the most wealthy nonprofit wrestling club in the country. In 2014, the NLWC reported $5,726,767 in contributions, ending the 2014 calendar year with net assets of $6,184,252.

Portion Of NLWC's 2014 990 Shows $5,524,538 In Contributions And Grants

In a vacuum, these numbers are impressive. When compared to the rest of the nonprofit wrestling landscape, the true picture is painted of just how much more money NLWC has than the rest of its peers.

2015 Net Assets Reveal NLWC Has Two Times As Much As Every Other Listed Club Combined

Club

2015 Net Assets


Nittany Lion WC 5,740,114
Hawkeye WC 699,997
Finger Lakes WC 474,964
Wolfpack WC 263,031
Carolina WC 240,572
Wildcat WC 173,287
Nebraska WTC 126,265
Lehigh Valley AC 125,163
Cliff Keen WC 116,996
Cyclone WC 116,637
Penn State WC 73,413
Southeast RTC 63,406
Missouri WF 59,572
West Point WC 53,221
Terrapin WC 47,238
Ohio RTC 43,559
Sooner WC 26,131
Badger WC 24,982
Sunkist Kids WC 17,461
Mat-Town WC 7,053

Annual Support

We acquired as many of the forms for as many of wrestling's nonprofit clubs as we could find. Since 2009, NLWC has raised over $9 million -- three times more than the second-place Sunkist Kids.


Two Penn State Clubs?

If you looked over the list, you probably noticed that there are not one but two Penn State-affiliated clubs in the top six. We are all familiar with the Nittany Lion Wrestling Club, which is the regional training center for Penn State and describes its mission as follows: "Support and promote amateur wrestling by conducting wrestling camps tournaments and clinics."

This club, unlike most, funds a full-time job outside of coaching. Dave Hart, who is the secretary of the Nittany Lion Wrestling Club, earned $68,796 in 2015. We know that this club is the one that the Penn State athletes compete under in freestyle/Greco Roman competition.

The Penn State Wrestling Club has an entirely different purpose and identity. In its IRS 990 form from 2015, the club stated, "We provide prematch social events at some home matches and have an end of the year Awards Banquet. Through these methods we give special recognition to wrestlers and coaches and allow our membership and fans to interact."

With contributions of $1.7 million (around $300,000 per year), think of it as a really wealthy party planning committee for Penn State.


The State Of Other Clubs

Other interesting findings included Ohio RTC being the eighth-most wealthy nonprofit. Despite its funds being behind two Penn State clubs, Lehigh, Cornell, Iowa, and Iowa State, Ohio RTC still has been the most consistently successful (in terms of hardware) RTC in America.

What these forms revealed is that to keep up with the Joneses (not just Penn State), hundreds of thousands of dollars are required. This puts the onus on the clubs to find ways to raise six figures plus on an annual basis. With Penn State's $5 million donation in 2014, it is able to have that money sitting as an endowment and can use the tax-exempt money it accrues in interest, dividends, and capital gains (e.g. if the rate is 10 percent, then 500,000 a year) to fund the club's yearly spending and then some. This is a luxury that currently only the Nittany Lion Wrestling Club can boast.

The Nittany Lion Wrestling Club is not only successful in terms of funding, but it also supports a number of elite wrestlers including current world team member Zain Retherford, David Taylor, Nico Megaludis, and others. Puerto Rico's Franklin Gomez has also been in State College for several years and Japanese Olympic champion Tatsuhiro Yonemitsu has been at Penn State as well. Ohio State, Iowa, and Oklahoma State are other programs that have had fantastic NCAA success during times when their clubs (and the senior-level talent within them) were strong.

Nittany Lion Wrestling Club: 2015 | 2014 | 2013
Penn State Wrestling Club: 2015 | 2014 | 2013
Hawkeye Wrestling Club: 2015 | 2014 | 2013
Ohio RTC: 2015 | 2014 | 2013
Sunkist Kids Wrestling Club: 2015 | 2013
Lehigh Valley Wrestling Club: 2016 | 2015
Finger Lakes Wrestling Club: 2015 | 2014 | 2012
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Re: FLWC and the other RTC Finance Reports

Postby JM » Wed Aug 02, 2017 11:07 am

From the same article as above, here are the top 10 RTC's in terms of Annual Support Funding over the last 7 years.

Rank CLUB 2009 2010 2011 2012 2013 2014 2015 TOTAL AVERAGE
1 Nittany Lion WC 487,429 535,571 580,937 543,321 676,602 5,825,251 372,072 9,021,183 1,599,637
2 Sunkist Kids WC 672,666 385,552 535,705 388,688 277,550 376,500 500,100 3,136,761 415,709
3 Hawkeye WC 244,553 286,530 409,982 646,060 388,641 468,558 557,769 3,002,093 494,202
4 Lehigh Valley AC 253,468 372,839 277,090 290,200 353,271 459,013 338,115 2,343,996 343,538
5 Finger Lakes WC 158,426 195,357 211,203 187,110 454,571 401,866 590,071 2,198,604 368,964
6 Penn State WC 94,453 195,992 198,296 256,903 259,686 239,692 529,552 1,774,574 296,826
7 Cyclone WC 272,094 215,564 133,280 249,550 229,988 223,268 167,548 1,491,292 200,727
8 Ohio RTC 88,270 152,005 202,946 210,984 135,299 201,358 235,054 1,225,916 197,128
9 Cliff Keen WC ? 89,136 155,517 186,083 178,274 263,629 255,594 1,128,233 207,819
10 Titan Mercury ? 0 0 183,000 863,104 ? ? 1,046,104 348,701
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Re: FLWC and the other RTC Finance Reports

Postby JDALU75 » Wed Aug 02, 2017 12:49 pm

JM wrote:
Rank CLUB 2009 2010 2011 2012 2013 2014 2015 TOTAL AVERAGE
1 Nittany Lion WC 487,429 535,571 580,937 543,321 676,602 5,825,251 372,072 9,021,183 1,599,637

Somebody made a really beeeg gift in 2014.
“You are only young once, but you can stay immature indefinitely.” - Ogden Nash
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Re: FLWC and the other RTC Finance Reports

Postby scribe » Thu Aug 03, 2017 6:39 am

It's heartening to see Ohio do so much more with so much less.
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Re: FLWC and the other RTC Finance Reports

Postby CJC » Fri Aug 04, 2017 11:39 am

scribe wrote:It's heartening to see Ohio do so much more with so much less.



You can't put a price on will power and technique.

Money can't buy World or Olympic Titles.
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