Pegasus Water Polo Academy

Overview

The Pegasus Water Polo Academy is a nonprofit organization registered in the United States, designated as a 501(c)(3) organization. This designation allows donations to the organization to be tax deductible.

Mission

The primary mission of the Pegasus Water Polo Academy is to introduce and advance water polo for youth and adults in North Texas. The organization aims to promote the sport, focusing on both educational and charitable initiatives.

Financials

As of 2024, the organization reported a revenue of $1.1 million, with expenses amounting to $1.14 million. Its total assets stood at approximately $90,090, while total liabilities were about $66,960[1].

In previous years, such as 2021, contributions constituted a significant portion of its revenue (67.3%), followed by program services (31.9%)[1].

Governance

Key individuals involved in the governance of the Pegasus Water Polo Academy include directors and officers who oversee the operation and strategic direction of the organization. Compensation is minimal, with Spencer Dornin, the Head Coach, receiving a stipend[1].

Activities

The organization's activities focus on promoting water polo, supporting programs for both youth and adult participants. These efforts aim to foster a community around the sport in North Texas.

Classification

Pegasus Water Polo Academy is classified under the National Taxonomy of Exempt Entities (NTEE) as an organization providing recreation, sports, leisure, athletics, specifically swimming and water recreation activities[1].

Purpose

Being a qualified amateur sports organization, the Pegasus Water Polo Academy supports national or international amateur competition without providing athletic facilities or equipment[1].

[1] https://projects.propublica.org/nonprofits/organizations/813699067 [2] https://www.guidestar.org/profile/81-3699067 [3] https://projects.propublica.org/nonprofits/organizations/813699067/202201439349300770/full [4] https://www.cftexas.org/donors/fund-options/pegasus-aquatics-all-access-fund/