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Nonprofit · EIN 83-4686104

SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND

Tax-exempt · BALTIMORE, MD 21201

Financials

$14.4M$11.3M2023
Revenue Expenses · by fiscal year end
Financials of SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2023990$14,366,786$11,277,293$3,089,493$246,316$0$246,316
Financial details: 990 for the year ended December 31, 2023

Revenue

Contributions, gifts and grants
$12,849,004
of which government grants
$3,912,418
Program service revenue
$1,489,312
Investment income
$0
Net income from fundraising events
$28,470
Other revenue
$28,470

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$175,000
Other salaries and wages
$262,680
Salaries, compensation and benefits (total)
$516,230
Professional fundraising fees
$0
Legal fees
$9,000
Accounting fees
$18,979
Travel
$34,268
Depreciation
$884
Program services (functional)
$10,434,671
Management and general (functional)
$600,749
Fundraising (functional)
$241,873

Balance sheet and other

Total assets, start of year
$72,408
Total assets, end of year
$246,316
Total liabilities, end of year
$0
Net assets, end of year
$246,316
Land, buildings and equipment
$4,767
Net assets without donor restrictions
$246,316
Gross receipts
$14,366,786
Employees
4
Volunteers
400
Year formed
2019
State of legal domicile
MD

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 December 31, 2023, highest compensation first.

NameTitleHours / weekCompensation
JEFFREY NEWMANPRESIDENT OF MARYLAND 5 STAR40$175,000
Terry HasseltinePresident
Trustee or director, Officer
25$0

Address and contacts

Address (IRS master file)
351 W CAMDEN ST FL 202, BALTIMORE, MD 21201-2475
In care of
% TERRANCE HASSELTINE
Mailing address (990-N for 2018)
333 WEST CAMDEN STREET, BALTIMORE MD 21201
Principal officer (990 for 2023)
Terrance Hasseltine
Principal officer (990-N for 2018)
TERRY HASSELTINE, 333 WEST CAMDEN STREET, BALTIMORE MD 21201
Signed the 990
Terrance Hasseltine, President
Phone
(410) 223-4139
Return prepared by
CEA Scholtes and Associates

Mission

The Sport and Entertainment Corporation of Maryland is a 501c3 established in 2019 to further and promote exclusively, charitable, religious, educational and scientific purposes and the business and objects to be carried on and promoted by it are: 1 To incubate cultural and operational event integrity for large scale sport and entertainment events in Maryland 2 To support Maryland Sports in hosting major sports events, economic analysis and research relating to sports, sponsorship of major sports events, and development of partnerships with other public and private entities to sponsor major sports events 3 To lessen the governments burden by promoting regional, national and international sporting events in the State of Maryland 4 To recruit, retain, market, promote and manage sports events that have positive media exposure, economic impact and image impact within the State of Maryland, and which will enhance the quality of life of citizens of the State of Maryland and 5 To solicit and

990 for the year ended December 31, 2023

Program accomplishments

  • MARYLAND 5 STAR AT FAIR HILL - The Fair Hill Organizing Committee was created to deliver, plan, manage and oversee all aspects of the activities that take place at the Maryland 5 Star at Fair Hill, event to begin in 2020.
    Expenses $7,549,610 · revenue $1,387,337
  • MARYLAND CYCLING CLASSIC - Marylands first UCI PROSERIES tour stop The Maryland Cycling Classic Organizing Committee is charged with delivering, planning, managing and overseeing all aspects of the activities that take place at the inaugural Maryland Cycling Classic & Festival September 2021.
    Expenses $2,615,728 · revenue $36,975
  • AMATEUR ATHLETIC UNION
    Expenses $215,113 · revenue $65,000

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 December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025Not on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
83-4686104
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (509(a)(2))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2019
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$246,316
Income (IRS master file)
$14,366,786

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2023$14,366,786$11,277,293$246,316XML
990December 2022$5,571,617$8,661,570$72,408IRS
990December 2021–––IRS
990December 2020–––IRS
990-N for 2018
Officer: TERRY HASSELTINE
June 30, 2019≤ $50,000 receipts––e-Postcard

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 83-4686104).

Questions about SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND

What is the EIN of SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND?
The employer identification number (EIN) of SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND is 83-4686104.
Is SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2019.
Are donations to SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND 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 SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2023.
Who is the principal officer of SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND?
The 990 for the year ended December 31, 2023 names Terrance Hasseltine.
Who are the officers and directors of SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND?
The 990 for the year ended December 31, 2023 lists 2 people; 1 received compensation from the organization, the highest $175,000 (JEFFREY NEWMAN, PRESIDENT OF MARYLAND 5 STAR).
How much revenue does SPORT AND ENTERTAINMENT CORPORATION OF MARYLAND have?
On its 990 for the year ended December 31, 2023 it reported revenue of $14,366,786, expenses of $11,277,293 and total assets of $246,316 at year end.

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