Kroenke Sports Charities Inc

Nonprofit profile at a glance

EIN
742442488
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Denver, CO, USA
Phone
3034051100
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$2,739,183
Expenses
$2,630,067
Assets
$4,330,025
Liabilities
$506,789

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • MICHAEL NEARY (PRESIDENT)
  • MATT BELL (VICE PRESIDENT)

People named in this filing

  • MICHAEL NEARY (PRESIDENT)
  • MATT BELL (VICE PRESIDENT)
  • BRITTAINY WILMER (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Kroenke sports charities is committed to improving the lives of families and children in Colorado.

What it reported doing in 2024

Throughout the year the organization receives many requests for assistance for a variety of general assistance programs. The focus of our efforts is to assist youth-oriented programs and charities, particularly those that serve at-risk youth. Each organization submits a proposal or fundraising program along with its 501(c)(3) determination letter. These organizations typically are well recognized for providing charitable functions in our local region. Our strategic community invest is in many forms: education, health and youth sports programs, donations of autographed merchandise and tickets, grants, appearances by our players, coaches, alumni, and the personal service of kse employees through kse cares and other individual efforts. Altitude sports & entertainment has broadened our community efforts through its airing of public service announcements for a variety of organizations throughout the year. Players, coaches, and kse staff are active participants in the community, dedicating over 1,000 hours of their time to visiting schools, hosting youth sports clinics, lifting the spirits of young patients in local hospitals, and attending fundraising events that benefit the Colorado community. Kroenke sports charities programs, outreach, and events in support of education and health and fitness, include but are not limited to: (1) hockey fights cancer (2) game programs for youth (3) avalanche/nugget for a day (4) rapids passback (5) skills challenge (6) reach new heights (7) lupus night (8) give sports (9) hoops for troops (10) teammate for kids (11) team fit (12) race for the cure (13) numerous high school and collegiate scholarships.

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 82% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 82
  • Accountability: 30
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.1%; rating input score 62
  • Program expense ratio: 63.5%; rating input score 63
  • Fundraising efficiency: $16.63 raised per $1 spent on fundraising; rating input score 54; 54th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 84.6%; rating input score 85; 1st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 87.3%; rating input score 87; 24th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 1.65; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 12.1% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 11% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 16% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 62.1% of revenue deployed · 63.5% of spending went to programs
  • Governance: 0 of 8 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.7M in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 18 of 20 current checks pass · 2 findings to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 52 filed money-flow records
  • Related organizations: 53 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 54/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.