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Nonprofit · EIN 04-3650760

PORTSMOUTH INVITATIONAL TOURNAMENT FOUNDATION INC

Tax-exempt · PORTSMOUTH, VA 23703

Financials

$266K$232K2022$245K$235K2023$317K$218K2024
Revenue Expenses · by fiscal year end
Financials of PORTSMOUTH INVITATIONAL TOURNAMENT FOUNDATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$317,378$217,836$99,542$594,552$0$594,552
June 30, 2024990$244,965$235,067$9,898$495,010$0$495,010
June 30, 2023990$265,939$232,214$33,725$485,112$0$485,112
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$25,000
of which government grants
$25,000
Program service revenue
$272,599
Investment income
$19,779
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Accounting fees
$1,875
Program services (functional)
$215,961
Management and general (functional)
$1,875

Balance sheet and other

Total assets, start of year
$495,010
Total assets, end of year
$594,552
Total liabilities, end of year
$0
Net assets, end of year
$594,552
Gross receipts
$317,378
Employees
0
Year formed
2002
State of legal domicile
VA

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2025, highest compensation first.

NameTitleHours / weekCompensation
JACK ANKERSONDIRECTOR
Trustee or director
–$0
MICHAEL BOYDDIRECTOR
Trustee or director
–$0
RANDY CAVINESSDIRECTOR
Trustee or director
–$0
SYNTHIA GOODEDIRECTOR
Trustee or director
–$0
EDDIE HARRISDIRECTOR
Trustee or director
–$0
JUSTIN JACKSONDIRECTOR
Trustee or director
–$0
CLIFTON JONESDIRECTOR
Trustee or director
–$0
JOHN ROUNDDIRECTOR
Trustee or director
–$0
ALYSSA SCRIPTERDIRECTOR
Trustee or director
–$0
RICHARD WENTZDIRECTOR
Trustee or director
–$0
TERRY BARONNERCO-VICE CHAI
Officer
–$0
ANGELA BOVEERECORDING SE
Officer
–$0
MICHAEL MORRISCHAIRMAN
Officer
–$0
CLIFFORD SAYLESCO-VICE CHAI
Officer
–$0
JAMES STANLEYTREASURER, C
Officer
–$0
990 for the year ended June 30, 2024: 15 people
NameTitleHours / weekCompensation
JACK ANKERSONDIRECTOR
Trustee or director
–$0
MICHAEL BOYDDIRECTOR
Trustee or director
–$0
RANDY CAVINESSDIRECTOR
Trustee or director
–$0
SYNTHIA GOODEDIRECTOR
Trustee or director
–$0
EDDIE HARRISDIRECTOR
Trustee or director
–$0
JUSTIN JACKSONDIRECTOR
Trustee or director
–$0
CLIFTON JONESDIRECTOR
Trustee or director
–$0
JOHN ROUNDDIRECTOR
Trustee or director
–$0
ALYSSA SCRIPTERDIRECTOR
Trustee or director
–$0
RICHARD WENTZDIRECTOR
Trustee or director
–$0
TERRY BARONNERCO-VICE CHAI
Officer
–$0
ANGELA BOVEERECORDING SE
Officer
–$0
MICHAEL MORRISCHAIRMAN
Officer
–$0
CLIFFORD SAYLESCO-VICE CHAI
Officer
–$0
JAMES STANLEYTREASURER, C
Officer
–$0
990 for the year ended June 30, 2023: 13 people
NameTitleHours / weekCompensation
JACK ANKERSONDIRECTOR
Trustee or director
–$0
TERRY BARONNERDIRECTOR
Trustee or director
–$0
MICHAEL BOYDDIRECTOR
Trustee or director
–$0
RANDY CAVINESSDIRECTOR
Trustee or director
–$0
SYNTHIA GOODEDIRECTOR
Trustee or director
–$0
CLIFTON JONESDIRECTOR
Trustee or director
–$0
JOHN ROUNDDIRECTOR
Trustee or director
–$0
RICHARD WENTZDIRECTOR
Trustee or director
–$0
ANGELA BOVEERECORDING SE
Officer
–$0
MICHAEL MORRISCHAIRMAN
Officer
–$0
CLIFFORD SAYLESCO-VICE CHAI
Officer
–$0
JAMES STANLEYTREASURER, C
Officer
–$0
SCOTT TAYLORCO-VICE CHAI
Officer
–$0

Address and contacts

Address (IRS master file)
5606 GREENEFIELD DR S, PORTSMOUTH, VA 23703-3835
In care of
% DAVID R TYNCH
Principal officer (990 for 2024)
JAMES STANLEY, 5606 GREENEFIELD DRVIE SOUTH, PORTSMOUTH, VA 23703
Signed the 990
JAMES STANLEY, TREASURER, CO-VICE
Phone
(757) 647-2270
Return prepared by
E CLARK & COMPANY

Mission

RAISE FUNDS FROM ACTIVITIES SUCH AS THE PORTSMOUTH INVITATIONAL TOURNAMENT. FUNDS RAISED SHALL BE GIVEN FOR CHARITABLE PURPOSES TO NONPROFIT COMMUNITY ORGANIZATIONS & FOR SCHOLARSHIPS TO DESERVING STUDENT ATHLETES GRADUATING FROM LOCAL HIGH SCHOOLS.

990 for the year ended June 30, 2025

Program accomplishments

  • HOST THE ANNUAL PORTSMOUTH INVITATIONAL BASKETBALL TOURNAMENT ("PIT"). THE PURPOSE OF THE TOURNAMENT IS TO PROVIDE COLLEGE SCHOLARSHIPS TO LOCAL HIGH SCHOOL STUDENTS, PROVIDE CHARTIABLE CONTRIBUTIONS TO COMMUNITY ORGANIZATIONS, SHOWCASE THE CITY OF PORTSMOUTH AND BENEFIT THE LOCAL ECONOMY.
    Expenses $215,961

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
04-3650760
Tax-exempt status
501(c)(4): Social welfare organization
Donations deductible
No
Exempt since
2008
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$594,552
Income (IRS master file)
$317,378

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$317,378$217,836$594,552XML
990June 2024$244,965$235,067$495,010XML
990June 2023$265,939$232,214$485,112XML
990June 2022$152,024$204,480$451,387IRS
990June 2021–––IRS
990June 2020–––IRS
990June 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-3650760).

Questions about PORTSMOUTH INVITATIONAL TOURNAMENT FOUNDATION INC

What is the EIN of PORTSMOUTH INVITATIONAL TOURNAMENT FOUNDATION INC?
The employer identification number (EIN) of PORTSMOUTH INVITATIONAL TOURNAMENT FOUNDATION INC is 04-3650760.
Is PORTSMOUTH INVITATIONAL TOURNAMENT FOUNDATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 2008.
Are donations to PORTSMOUTH INVITATIONAL TOURNAMENT FOUNDATION INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does PORTSMOUTH INVITATIONAL TOURNAMENT FOUNDATION INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of PORTSMOUTH INVITATIONAL TOURNAMENT FOUNDATION INC due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did PORTSMOUTH INVITATIONAL TOURNAMENT FOUNDATION INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of PORTSMOUTH INVITATIONAL TOURNAMENT FOUNDATION INC?
The 990 for the year ended June 30, 2025 names JAMES STANLEY.
Who are the officers and directors of PORTSMOUTH INVITATIONAL TOURNAMENT FOUNDATION INC?
The 990 for the year ended June 30, 2025 lists 15 people; 0 received compensation from the organization.
How much revenue does PORTSMOUTH INVITATIONAL TOURNAMENT FOUNDATION INC have?
On its 990 for the year ended June 30, 2025 it reported revenue of $317,378, expenses of $217,836 and total assets of $594,552 at year end.

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