2024-04-01T12:11:28-05:00 2023-11-30 561031342 WILLIAMS OVERMAN PIERCE LLP 2501 ATRIUM DRIVE SUITE 500 RALEIGH NC 27607 990 2022-12-01 822846674 UNITED STATES POWER SQUADRONS ENDOWMENT FUND INC UNIT 8883678777 1504 BLUE RIDGE ROAD RALEIGH NC 27607 ROBERT BALDRIDGE CHAIRMAN 8883678777 2024-04-01 1 ROBERT BALDRIDGE 999009999 0 MARYELLEN PRANCE CPA P01662078 9197823444 2024-04-01 X 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROBERT BALDRIDGE 1504 BLUE RIDGE RD RALEIGH NC 27607 403222 0 X HTTPS://USPSENDOWMENT.FUND/ X 2017 NC SEE SCHEDULE OTHE UNITED STATES POWER SQUADRONS ENDOWMENT FUND IS ORGANIZED UNDER SECTIONS 509(A)(3) AND 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (OR THE CORRESPONDING PROVISION OF ANY FUTURE UNITED STATES INTERNAL REVENUE LAW) (THE "CODE") EXCLUSIVELY FOR THE SUPPORT OF THE UNITED STATES POWER SQUADRONS, INC., A NORTH CAROLINA CORPORATION ORGANIZED UNDER SECTION 501(C)(3) OF THE CODE. 7 7 0 17848 0 0 23954 93409 0 0 159165 72291 0 0 183119 165700 96186 164182 0 0 0 0 0 0 10126 18127 20678 114313 184860 68806 -19160 2182424 2135959 939 1199 2181485 2134760 X SEE SCHEDULE OTHE UNITED STATES POWER SQUADRONS ENDOWMENT FUND IS ORGANIZED UNDER SECTIONS 509(A)(3) AND 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (OR THE CORRESPONDING PROVISION OF ANY FUTURE UNITED STATES INTERNAL REVENUE LAW) (THE "CODE") EXCLUSIVELY FOR THE SUPPORT OF THE UNITED STATES POWER SQUADRONS, INC., A NORTH CAROLINA CORPORATION ORGANIZED UNDER SECTION 501(C)(3) OF THE CODE. 0 0 164182 164182 THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PROVIDING FINANCIAL SUPPORT FOR THE UNITED STATES POWER SQUADRONS, INC. (USPS), AND ACTIVITIES IN FURTHERANCE OF THE PURPOSES OF USPS, NAMELY, THE PROMOTION AND IMPROVEMENT OF RECREATIONAL BOATING SAFETY AND EDUCATION. THE CORPORATION WILL SOLICIT, HOLD, AND INVEST FUNDS FOR THE BENEFIT OF USPS TO BE DISBURSED FOR THE GENERAL NEEDS AND SPECIFIC PROJECTS OF USPS. 164182 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 X MARY CATHERINE BERUBE 8883678777 1504 BLUE RIDGE ROAD RALEIGH NC 27607 JOHN MALATAK CHAIRMAN 10.00 X X 0 0 0 RUTH WITZTUM VICE-CHAIRMAN 10.00 X X 0 0 0 THOMAS DOUGHERTY TRUSTEE 10.00 X 0 0 0 MARY PAIGE ABBOTT TRUSTEE 10.00 X 0 0 0 FRANK DVORAK TRUSTEE 10.00 X 0 0 0 WARREN STEVENS TRUSTEE 10.00 X 0 0 0 ROBERT BALDRIDGE TRUSTEE 10.00 X 0 0 0 DAVID ALLEN SECRETARY 5.00 40.00 X 0 0 0 SHIRLEY HEALD TREASURER 5.00 40.00 X 0 0 0 MARY CATHERINE BERUBE EXECUTIVE ADMINISTRATOR 10.00 40.00 X 0 109317 792 0 109317 792 0 0 0 0 0 93409 93409 55771 55771 254042 237522 16520 16520 16520 165700 0 0 72291 164182 164182 8435 8435 10552 10552 104 104 1199 1199 300 300 BANK CHARGES 88 88 184860 164182 10552 10126 68786 144122 1978491 1848512 130443 138445 4704 4880 2182424 2135959 939 1199 939 1199 X 541263 401130 1640222 1733630 2181485 2134760 2182424 2135959 -19160 -27565 0 X X 0 1 X 1 0 X X 1 UNITED STATES POWER SQUADRONS NATIONAL HEADQUARTERS 221487365 10 1 164182 0 1 164182 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART IV, SECTION C, LINE 1: THE USPS ENDOWMENT FUND (THE "FUND"), THE SUPPORTING ORGANIZATION, AND UNITED STATES POWER SQUADRONS ("USPS"), THE SUPPORTED ORGANIZATION, DO NOT SHARE A MAJORITY OF DIRECTORS IN COMMON. HOWEVER, THE USPS GOVERNING BOARD ELECTS THE DIRECTORS OF BOTH USPS AND THE FUND. THUS, ULTIMATE CONTROL AND MANAGEMENT OF BOTH ORGANIZATIONS IS VESTED IN THE USPS GOVERNING BOARD. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2182424 93409 34174 174048 2135959 2437141 23229 -153716 124230 2182424 2214352 25220 285571 88002 2437141 2134152 15994 211324 147118 2214352 1943300 19888 221155 50191 2134152 0.18836 0.81164 0 0 0 LAZARD INTERNATIONAL STR 138445 F 138445 X PART V, LINE 4: THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PROVIDING FINANCIAL SUPPORT FOR THE UNITED STATES POWER SQUADRONS, INC. (USPS), AND ACTIVITIES IN FURTHERANCE OF THE PURPOSES OF USPS, NAMELY, THE PROMOTION AND IMPROVEMENT OF RECREATIONAL BOATING SAFETY AND EDUCATION. THE CORPORATION WILL SOLICIT, HOLD, AND INVEST FUNDS FOR THE BENEFIT OF USPS TO BE DISBURSED FOR THE GENERAL NEEDS AND SPECIFIC PROJECTS OF USPS. PART X, LINE 2: THE ORGANIZATIONS EVALUATE ALL SIGNIFICANT TAX POSITIONS AS REQUIRED BY GAAP. AS OF NOVEMBER 30, 2023, THE ORGANIZATIONS DO NOT BELIEVE THAT THEY HAVE TAKEN ANY POSITIONS THAT WOULD REQUIRE THE RECORDING OF ANY ADDITIONAL TAX LIABILITY, NOR DO THEY BELIEVE THAT THERE ARE ANY UNREALIZED TAX BENEFITS THAT WOULD EITHER INCREASE OR DECREASE WITHIN THE NEXT YEAR. THE ORGANIZATIONS ARE SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2020. 1 UNITED STATES POWER SQUADRONS NATIONAL HEADQUARTERS 1504 BLUE RIDGE RD RALEIGH NC 27607 221487365 501 (C) (3) 164182 0 TO SUPPORT USPS FUNDS. 1 PART I, LINE 2: THE ENDOWMENT FUND IS RELATED TO THE UNITED STATES SQUADRONS NATIONAL HEADQUARTERS THROUGH A COMMON GOVERNING BOARD. THROUGH THIS RELATIONSHIP, THE ENDOWMENT FUND ENSURES ITS FUNDS ARE PROPERLY UTILIZED. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE USPS GOVERNING BOARD ANNUALLY ELECT THE TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE CHAIR AND VICE CHAIR RECEIVE A COPY OF THE FORM 990 PRIOR TO SUBMITTING IT TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION SENDS ANNUAL CONFLICT OF INTEREST LETTERS TO OFFICERS TO SIGN AND RETURN TO THE USPS NATIONAL HEADQUARTERS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. PART VI, SECTION A, LINE 7B: THE USPS ENDOWMENT FUND IS GOVERNED BY ITS BYLAWS. THE TRUSTEES ARE THE GOVERNING BODY FOR DECISIONS. THE USPS GOVERNING BOARD ELECTS THE TRUSTEES. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. UNITED STATES POWER SQUADRONS 1504 BLUE RIDGE RD RALEIGH NC 27607 221487365 BOATING EDUCATION NC 501(C)(3) LINE 10 0 USPS EDUCATIONAL FUND 1504 BLUE RIDGE RD RALEIGH NC 27607 222083467 PROVIDE GRANTS TO SUPPORT PROGRAMS THAT FURTHER BOATING SKILLS NC 501(C)(3) LINE 7 0 USPS-EC HOLDINGS INC HOLDING ENTITY OH UNITED STATES POWER SQUADRONS NATIONAL HEADQUARTERS C 1.00000 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 UNITED STATES POWER SQUADRONS B 164182 COST