2012-2013 ANNUAL REPORT
CHAIRMAN AND CEO LETTERS
MISSION To enhance peopleâ€™s health and well-being by increasing participation in squash, to enrich the experiences of our members of all ages, and to build awareness of the sport, valuing excellence, professionalism and fiscal responsibility.
VISION For all people to have the opportunity to enhance their health and well-being through the sport of squash.
US SQUASH MILESTONES 1850s
Boys at Harrow School near London create a version of the game of racquets (an old bat and ball game) using a small rubber ball—rubber having just been vulcanized a few years earlier—and makeshift outdoor courts in alleys and courtyards
James Conover, a teacher at St. Paul’s School in Concord, NH, builds the first squash courts outside England. He copies the Harrow courts by consulting with his college roommate, an Old Harrovian
The Racquet Club of Philadelphia adds a fives (handball) court on the top floor of their Walnut Street clubhouse. It quickly gets used for squash
First inter-city five-man national team tournament at nationals, with two cities represented (Boston and Philadelphia)
USSRA standardizes 18 1/2 foot court width
Harvard University starts the nation’s first men’s collegiate squash team and hires Harry Cowles as coach
The national women’s association is founded; The New England Professional Association, now the U.S. Professional Squash Racquets Association, hosts its first national tournament (now the Tournament of Champions) ten months before the first British Open; Forty-nine clubs are affiliated with USSRA
Men’s intercollegiate association founded
Philadelphia Districts, first junior tournament in the world, is started
Pacific Coast Championships is founded, representing a dozen western states and British Columbia
Germantown Invitational Mixed Doubles, precursor of U.S. national mixed doubles, is founded; Detroit becomes the first non-East Coast side to win the national men’s team tournament
Grant doubles competition added to Lapham Cup
First time squash is televised, in a local broadcast at the U.S. Open in Pittsburgh
First women’s individual intercollegiate tournament is held at Vassar
U.S. Open amalgamates with Canadian Open to become North American Open
The world’s first inter-club squash league is founded for seven squash clubs in Philadelphia; one, Philadelphia Country Club, even adds electric lights to their courts
US Squash is founded as the Philadelphia Association; world’s first professional event, with six entries, is held in Philadelphia
First U.S. men’s nationals are held in Philadelphia; John Miskey, a local doctor, wins; the pro at the Racquet Club, Fred Thompkins, builds world’s first doubles court, inventing the game of squash doubles; Philadelphia Association changes name to United States Squash Racquets Association
17-inch tin standardized for U.S.; the world’s first international match, the annual Lapham Cup (U.S. v. Canada), is started
Nineteen clubs are affiliated with USSRA; first intercollegiate match in the world (Harvard v. Yale) is played—Harvard wins, starting a collegiate unbeaten streak that lasts until 1937
U.S. women’s nationals begins with forty players; Great Britian’s Squash Racquets Association standardizes 21-foot wide court and softer ball, creating two versions of the game
Wolfe-Noel women’s cup (U.S. v. Britain) is founded; first U.S. national men’s and women’s doubles tournaments started
An Elko, Nevada, club becomes the first squash club west of the Mississippi to join the USSRA; Vassar starts first women’s collegiate squash team
Heights Casino in Brooklyn hosts world’s first doubles tournament open to pros (now called the Johnson Doubles)
First United States Open held in New York
Women’s national team tournament renamed Howe Cup in honor of Margaret Howe and her twin daughters, Peggy Howe White and Betty Howe Constable
250 USSRA members; seventy member clubs; first U.S. national juniors for boys is started
USSRA helps start International Squash Rackets Federation (now the World Squash Federation)
First glass back-wall is built at the University of Pennsylvania
Hyder Cup, first softball tournament in U.S., is started
First intercollegiate women’s team tournament, also called the Howe Cup, is played
First public commercial squash club is started at Berwyn, PA; First U.S. men’s team plays in world championships, finishing fifth out of five teams
USSRA hires Darwin Kingsley, first executive director, and opens head office in Bala Cynwyd; USSRA has 1,500 members and 150 member clubs
First junior squash camp founded, at Heights Casino in Brooklyn; Squash News becomes USSRA’s official monthly newspaper
First U.S. women’s team plays in world championships; Nationals are held in Portland, the first time a national tournament is held west of the Mississippi; National women’s association merges with USSRA
U.S. men’s team comes in seventh out of twenty teams in world team championships; Mark Alger becomes the first non-East Coast player to win U.S. men’s nationals; Alicia McConnell wins the U.S. national juniors, national intercollegiates and women’s nationals all within one month
USSRA has 8,000 members and 300 member clubs U.S. Open re-launched as softball tournament; U.S. women come in seventh at world team championships
USSRA joins U.S. Olympic Committee as a nonmedal sport
Softball nationals has more entrants than hardball nationals
Tournament of Champions, annually played since 1930, is staged on a portable glass court in Grand Central Terminal; Greg Zaff, former All American in tennis and squash at Williams, starts SquashBusters, the first urban youth enrichment squash program
Squash Magazine takes over as official publication of USSRA
World Junior Men’s Championships is held at Princeton, the first world championship in U.S. The first public high school program is founded by teacher and squash parent Susan Gross at Lower Merion-Harriton
The U.S. High School Team Championships is launched by Philadelphia squash parent Melinda Justi; USSRA has 8,500 members and 265 member clubs
U.S. Open is staged in Boston’s landmark Symphony Hall
U.S. Squash Hall of Fame & Museum moves to Yale USSRA changes name to US Squash and moves headquarters to New York; Arkansas becomes the last state in the nation to build squash courts
2013 US Squash has 16,000 members, sixteen full-time employees and the world’s most visited squash website; twelve urban youth enrichment programs across the country serve thousands of children; More than 200 high schools have squash teams, 155 compete in the national championships; 57 men’s college teams and 42 women’s college teams compete in the national team tournament
First World Open is played
Men’s and women’s nationals are hosted together for the first time at the University of Pennsylvania
U.S. junior nationals for girls is founded; Bancroft Open, the first professional women’s tournament, is held in New York
Bob Callahan at Princeton starts camp, now the world’s oldest squash summer camp
First U.S. national softball tournament held in Baltimore
Mark Talbott beats Jahangir Khan 18-16 in the fifth in the finals of the Boston Open in America’s first portable glass court tournament
Women’s intercollegiate squash switches to softball; pro hardball and softball associations merge to create PSA
Men’s intercollegiate squash switches to softball
Squash is played for the first time in the PanAmerican Games
World Women’s Championships is held in Seattle; Demer Holleran wins last of her record nine U.S. national singles titles
U.S. Squash Hall of Fame is launched with inaugural class of fifteen inductees
U.S. Open in Boston is halted on first day of qualifying because of September 11th attacks
New York native Amanda Sobhy wins world junior women’s title; the U.S. Junior Open and the U.S. High School Championships are the largest junior and largest squash tournaments in the world respectively
Todd Harrity of Princeton becomes first American to win national intercollegiate individual title since 1990; World Women’s Junior Championships is held at Harvard and the U.S. team comes in second to Egypt
The longest unbeaten run in collegiate sports history, Trinity’s 252-win streak ends and, after thirteen straight national titles, Trinity loses in the finals of the national team tournament to Princeton University; U.S. men finish sixth at world championships, the team’s best finish ever
CHAIRMAN Dear Squash Enthusiasts, This past season, along with running twenty national championships, we successfully hosted the Delaware Investments U.S. Open at Drexel University for the second time. As models for our “Open” we have closely studied the successes of the USGA with the PGA Tour, as well as the USTA with U.S. Open Tennis, and included their insights in planning our growth strategies for the future of this signature event. We also worked very closely with the World Squash Federation to support squash’s efforts to gain inclusion in the Olympic Program. The IOC is a very complex body and with the highly publicized developments related to wrestling, squash’s challenge is that much greater. No matter what the ultimate outcome is, our sport is much stronger for these efforts and our profile elevated to new heights due to the high quality media messaging surrounding the bid efforts. Finally, we are eager to press ahead with our officiating program next season. I feel strongly that if the game is officiated properly there should be far fewer “Yes Lets” and more “No Let” or “Stroke” calls. In order for this to happen we will add significant new training resources for refereeing at all levels, and an easy to use scoring system to fill the current “data gap.” Our game is incredibly fun, action-packed, and entertaining when it is played in the right spirit, and we will strive to cultivate these features. This being my final year on the board, and my fourth serving as Chairman, I would like to express that it has been a distinct honor and pleasure. There is not enough room here to personally thank all of my fellow board members, the amazingly enthusiastic, talented and hard-working staff, donors and informal advisors who were such a pleasure to work with and who have been the key to the organization’s significant progress in recent times. I look forward to seeing the organization and sport continue to prosper. Thank you all for this great opportunity! Sincerely,
Peter R. Lasusa, Jr. Chairman of the Board
CEO Dear Members and Supporters, Thanks to support from members and the generosity of hundreds of donors, the United States has the fastest growing squash participation level of any country worldwideâ€”the most recent data from the Sporting Goods Manufacturers Association shows remarkable growth of 82% between 2007 and 2011 to an estimated 1.1 million players nationally. From urban, junior and high school squash, college squash, sanctioned tournaments and leagues, to professional squash, coach and referee certifications, National Championships and National Teams, we operate dozens of programs and support several partnerships serving players of all ages and levels. We are taking important steps to support the Squash 2020: Back the Bid campaign, coordinated by the World Squash Federation, which we feel, whether it is successful or not, will dramatically raise the profile of the sport internationally and increase collaboration within the squash community. The Board and management have also embarked on another cycle of strategic planning which will lay the foundation for the next phase of our growth and development. Thank you again to all of the members, as well as the volunteers and donors who generously give their time and money to support all of our initiatives.
Kevin D. Klipstein Chief Executive Officer
BOARD OF DIRECTORS
Richard A. Chin, New York, NY, Athlete Representative Timothy J. Conway, Boston, MA Diana E. Dowling, Riverside, CT John A. Fry, Philadelphia, PA Amrit Kanwal, Boston, MA Peter R. Lasusa, Jr., New York, NY, Chairman of the Board Emily A. Lungstrum, Brooklyn, NY Terrence M. O’Toole, Short Hills, NJ, Chair, Finance Committee Marshall W. Pagon, Philadelphia, PA, Chair, Investment Committee Meredeth Quick, Brooklyn, NY, Athlete Representative Alternate
STAFF Staff members as of June 30, 2013
Kevin Klipstein, CEO Diana Abuzaid, Executive Administrator Bill Buckingham, Director of Member Services Dan Heinrich, Program Manager Kristi Maroc, Senior Manager PR & Media Chris McClintick, Program Manager Conor O’Malley, Director of Events and Teams Preston Quick, Director of Doubles Ryan Rayfield, Senior Program Manager Harry Smith, Program Manager Sheila Suzara, Director of Development Dent Wilkens, Program Director
Paul Assaiante, Head National Coach Natalie Grainger, Women’s National Coach Adam Hamill, Junior Men’s National Coach Scott Devoy, Junior Women’s National Coach
nnually the Association surveys the membership to assess satisfaction levels and look for areas in which to improve its programs and services. There is a remarkably high level of satisfaction in specific US Squash services ranging from Squash Magazine and email communications to national championships and league administration. However, while there is a sense that the association is headed in the right direction, and the community understands the mission, from participants to administrators and supporters, there is a very wide range of feedback about US Squash’s performance in areas such as the cost to participate, rankings, extent of regional support, accessibility of the sport, the quality of technology and a lack of overall presence in the community.
MEMBER SATISFACTION & PERCEPTION
% Agree Or Strongly Agree
“I think US Squash is going in the right direction supporting squash.” “I am satisfied with US Squash as an organization in delivering value.” 80 75 70 65 60 55 50 45 40 2009
VISION & MISSION KNOWLEDGE
% Who Know Vision/Mission
“Do you feel you know the vision and mission of US Squash?” 80 75 70 65 60 55 50 45 40 2009
US SQUASH ORGANIZATION BOARD OF DIRECTORS CEO
Staff Contractors Vendors
Board Of Review (Carey Anderson) Finance, Audit & Compensation (Terry O’Toole) Investment (Mark Pagon) Nominating & Governance (Jeff Stanley) Athlete Advisory Council (Richard Chin) THE STANDING COMMITTEES ABOVE ARE PROVIDED FOR IN THE BY-LAWS AND ARE PERMANENT AND NECESSARY FOR THE OVERSIGHT OF THE ASSOCIATION INTERNATIONAL AFFAIRS AND DIRECTOR OF OFFICIALS ARE ROLES APPOINTED BY THE CEO
Teaching Pro Advisory Council (Dan Heinrich) COUNCILS REPRESENTING CONSTITUENCIES ALSO HELP ADVISE THE ORGANIZATION AD HOC COMMITTEES FOR EVENTS AND FUNDRAISING CAMPAIGNS MAY ALSO BE FORMED
Development (Kevin Klipstein) Doubles (Tim Wyant) Women’s (Kim Clearkin, AJ Copeland, Jen Gabler) Coaches (Dent Wilkens) Hardball Singles (Charlie Baker) Rules & Refereeing (Sheldon Anderson) U.S. Squash Hall Of Fame & Museum (Jim Zug) National Teams (Paul Assaiante) District Association (Kevin Klipstein) COMMITTEES MAY BE FORMED BY EITHER THE BOARD OR CEO TO ASSIST WITH AND ADVISE ON PROGRAMS OVER THE LONG TERM
Governance (March 2005 – June 2007 ) (Peter Lasusa) Competition (January 2006 – May 2006) (John Musto) Facility Development (September 2006 – December 2008) (Paul Droar) EACH COMMITTEE AND TASK FORCE HAS A US SQUASH STAFF MEMBER LIAISON ASSIGNED
STANDING COMMITTEES FINANCE, AUDIT & COMPENSATION COMMITTEE Terry O’Toole, Chairperson Michelle Quibell, Athlete Rep Diana Dowling, Member Tom Clayton, Member Jackie Moss, Member
INVESTMENT COMMITTEE Mark Pagon, Chairperson Hope Prockop, Athlete Rep Tom Poor, Member Bill Broadbent, Member Lenny Bernheimer, Member
The association took steps this year to reduce risk and conflict within the community in the following ways: b Protective eyewear—Enhanced efforts to enforce policy via events, in-club promotion and online presence and gained traction in compliance. (See poster below) b Team selection—Overall has gone smoothly as each year the National Teams committee has tweaked criteria to be specific and flexible. b Conduct—Revised the Parent, Coach, Attendee and Player codes of conduct.
, DON T LOSE YOURSELF SIGHT PROTECT WITH EYEWear All players and coaches must wear approved protective eyewear whether playing singles or doubles, hardball or softball squash during all activities that take place on the court involving racquets and balls at US Squash sanctioned events.
ASTM-F803* approved eyewear is required for participation in all US Squash sanctioned play. For a full list of approved eyewear, and more information go to www.ussquash.com/eyewear
NOMINATING & GOVERNANCE COMMITTEE Jeff Stanley, Chairperson Gilly Lane, Athlete Rep Berkeley Revenaugh, Member Phil Brandes, Member John Fry, Member
BOARD OF REVIEW Carey Anderson, Chairperson Vacant, Athlete Rep Bill Palmer, Member Sandy Tierney, Member Richard Chin, Member 16
Dunlop is an official partner of U.S. Squash *American Society for Testing and Materials standard ASTM-F803.
2012 ANNUAL ASSEMBLY On Saturday, October 6, 2012, at 9:30am at Drexel University, Philadelphia, PA, Chairman of the Board Peter Lasusa and CEO Kevin Klipstein reported on the state of the association. At the Assembly were nearly half the currently serving District Presidents. In summary, its was indicated that:
2 0 1 2
b Financial health of the organization was gaining momentum; b Staff has doubled in size in two years, the association having hired in areas of communications, officiating and sanctioned tournament support; supporting Olympic efforts broadly and participating in governance at the world level; b Regional involvement is anticipated to increase to strengthen governance and host events.
OLYMPIC FUND US Squash would like to thank the generous leadership donors to the Back the Bid campaign
Mr. Mike Lee, OBM, Chairman of VERO Communications, serving as agency to the World Squash Federation, spoke to the Assembly regarding the sportâ€™s efforts to gain Olympic inclusion.
PRESIDENTS CLUB Kathy and Al Gordon Fund
Mike Lee, OBM and Chairman of VERO Communications
Sue and Steve Mandel Linda and Jim Robinson CHAMPIONS CLUB Martha and D. David Slosburg COACHES CLUB Marcia A. and Peter R. Lasusa, Jr. PLAYERS CLUB Squash on Fire FAN CLUB R. Clark Amos Jeanne and John Blasberg Thomas M. Poor
During the Assembly, the 2012 Annual Meeting of the Members was conducted, with the primary purpose of electing Board members. Upon the recommendation of the Nominating and Governance Committee, after due consideration, review and approval in accordance with Article IX, Section 10(1), the Board of Directors had nominated for election to the Board, Diana Dowling, Amrit Kanwal, and Tim Conway. Â The membership was provided an opportunity to assign proxies in the election online in the week leading up to the meeting. The proxy results were verified by the independent Board of Review. All three nominees were approved at the meeting. 17
US SQUASH is grateful to all of the individuals and foundations that have generously demonstrated their commitment and support of the association. ANNUAL FUND CHAMPIONS CLUB Kathryn and Tim Conway Amrit Kanwal Polly and Terry O’Toole Marshall W. Pagon COACHES CLUB Patricia and Eric C. Fast John F. Herrick Lin Zhao and Jianyou Tan Marshall W. Pagon Thomas Wrightson Fund of the Oregon Community Foundation Anonymous PLAYERS CLUB Joseph A. Dworetzky John A. Fry Emily Ash Lungstrum Edward C. Simmons III FAN CLUB Howard C. Appleby Kathy and James Domenick Michael L. Elizondo Ingrid and David Ellen Victor Elmaleh Foundation Walter F. Glennon Dan Gordon Christopher Gould Eric Grossman Janet Hanson Sarah and James B. Harrity Judith B. and William Hiltz Elizabeth B. Dater and William Mitchell Jennings Barclay G. Jones David Keating Charles C. Kingsley
Evan Lamp Daryl A. Libow Sue and Steve Mandel Andrew R. Martin Caroline and Slade McLaughlin Robin Shanus and Stephen Merkel Frank D. Millet Amy D. Boesky and Jacques Perold Gerald P. Peters III Eve and Leo W. Pierce, Jr. David Rayfield Shah Family Gillian and Robert K. Steel Sheng-Ping Zou
JUNIOR DEVELOPMENT FUND
Leslie Henshaw and Renny Mendez Trish and Michael J. Odrich Jean and Jeff Rose Paula Kovanic Spiro and Richard Spiro
NATIONAL TEAMS CHAMPIONS CLUB Robert Phillip Bixby FAN CLUB Julie and Peter LeBlanc SUPPORTERS R. Clark Amos Dianne and John C. Smith James W. Zug
CHAMPIONS CLUB Anne and Clay Rohrbach
COACHES CLUB Elizabeth and Mark Epley Robert Warth
The following donors who have given consecutively to US Squash’s core fund-raising campaigns:
PLAYERS CLUB Patricia and Eric C. Fast Lin Zhao and Jianyou Tan
8 YEARS OF GIVING Lucy and John D. Barrett II Susan B. and George Cady, Jr. Charles T. Crawford Patricia and Eric C. Fast Ruth C. and A. Carter Fergusson Marcia A. and Peter R. Lasusa, Jr. Nancy and Richard Lubin Nancy and John O. F. Roehm, Jr.
FAN CLUB Aube Family Ashley and Jason Bernhard Christopher Duffy Ingrid and David Ellen Jean and John Ervasti Helen and Brian D. Fitzgerald Barb and Ed Hughes Emily Ash Lungstrum Mackesy Family Elizabeth and Kevin M. McClintock
7 YEARS OF GIVING Sally and Guy Davidson Elizabeth and Kevin M. McClintock 6 YEARS OF GIVING Amy Banse and Joe Dworetzky
We would like to provide special acknowledgment to those that have given Leadership Gifts for the period July 1, 2012 to June 30, 2013. George H. Bostwick, Jr. John R. Campodonico Stephen Craxton Mary and Dick Daly The Victor Elmaleh Foundation Leslie Henshaw and Renny Mendez John F. Herrick O. Wayne Hodges Daryl A. Libow M. Jeffrey Maisels Michael C. Nolan Gillian and Robert K. Steel John L. Tyler Richard R. Upton Thomas Wrightson Fund of the Oregon Community Foundation
FRIENDS OF JUNIOR SQUASH The Friends of Junior Squash are families who have contributed of $250 - $999 to the Junior Development Fund.
5 YEARS OF GIVING William G. Anderson Ashley and Jason Bernhard Robin and Stephen Constantine Elizabeth Fulton A.C. and Penny Hubbard Foundation Tom Kent Jeanne and Anthony Lai Elizabeth M. and Robert W. Loring Andrew R. Martin John G. Nelson Moira K. and Cormac K. O’Malley Susie and Jim Parsons Leslie and Michael Petrick Eileen R. and Phillip E. Pheiffer Eve and Leo W. Pierce Jr. Thomas M. Poor Francis X. Scanlan Robin Shanus and Stephen Merkel Timothy F. Wyant
BRONZE Sara and Charlie Ayres Ellen and Michael Berk Tina Marie Baskin and Michael Bernstein The Charlton Family I.H. “Chip” Clothier Divya and Anurag Das Elyse and Parker Douglas Cristy and Mitchell Hollin Binny and Jeff Huffman Barb and Ed Hughes The Korn Family Felicia and Larry Lazor Lisa and Ted Lovejoy Andrea Montalbano and Diron Jebejian The Moyer Family The Prager Family Nancy and David Siker Jill and Sandy Spaulding The Spizzirri Family Beth and Beau Taylor Kimberly and Eric Werner The Zimmer Family
SILVER Tami and Charles Anton Mary Beth and Chris Harvey The Manning Family Ross McLaren Marci and Ted Murphy The O’Dowd Family Laura and Robert Villani Heather and Charles K. Woodworth Betsy and Doug York
KINGSLEY-KNOX FOUNDERS CLUB We gratefully acknowledge the following group of friends who have demonstrated their support for US SQUASH in making commitments of $50,000 to the association within a five-year period. Stephanie and David Barrett Diane and Stephen C. Bieneman Jeanne and John Blasberg Kathryn and Tim Conway Diana and Joseph Dowling The Victor Elmaleh Foundation Patricia and Eric Fast Allison and L. Scott Frantz Amrit Kanwal Seymour H. Knox Foundation Marcia A. McLean and Peter R. Lasusa, Jr. James D. Marver Polly and Terry O’Toole Marshall W. Pagon Hilary and Charles H. Parkhurst Anne and Clay Rohrbach Alfred and Blair Sadler Cynthia and William Simon, Jr. Martha and David Slosburg Anonymous
NATIONAL AWARDS President’s Cup: Victor Elmaleh W. Stewart Brauns, Jr.: Jay D. Prince Achievement Bowl: Stephanie Bosserman Feron’s Wedgwood Sportsmanship: Beth Fedorowich Grand Master Honor Roll: Lee Engler and J. Ritchie Bell DeRoy Junior Sportsmanship: Dylan Murray and Katie Tutrone William T. Ketcham, Jr., Most Improved: (GU19) Linsey Dewey
(BU19) Hayes Murphy
(GU17) Nicole Friedman
(BU17) Benjamin Francis
(GU15) Angela Luo
(BU15) Osuman Imoro
(GU13) Julia Curran
(BU13) Matthew Lazor
(GU11) Devon Shatzman
(BU11) Tad E. Carney
In April 2013, Victor Elmaleh became the oldest winner of the President’s Cup, at age 94, when he received the award at the World Doubles Championships. (L-R) James Zug, Gary Waite, Niko Elmaleh, Victor Elmaleh, Peter Lasusa and Morris Clothier. Elmaleh still plays a weekly game of singles (using a doubles ball, of course).
THE PRESIDENT’S CUP, CREATED IN 1966, IS THE MOST PRESTIGIOUS ANNUAL AWARD FOR US SQUASH. ORIGINALLY DONATED BY WILLIAM T. KETCHAM, JR., THE PRESIDENT’S CUP IS AWARDED TO THE PERSON WHO HAS MADE SUBSTANTIAL, SUSTAINED AND SIGNIFICANT CONTRIBUTIONS TO THE GAME OF SQUASH.
INDUCTION INTO THE U.S. SQUASH HALL OF FAME IS THE HIGHEST HONOR IN THE GAME OF SQUASH. IT IS GIVEN TO THOSE WHO HAVE HAD AN EXTRAORDINARY IMPACT ON THE GAME IN THE UNITED STATES. KEY REQUIREMENTS ARE POSITIVE INFLUENCE ON THE DEVELOPMENT OF THE GAME, INTEGRITY AND SPORTSMANSHIP.
HALL OF FAME INDUCTEES CLASS OF 2011
CLASS OF 2012
Robert W. Callahan Joyce V. Davenport John F. Herrick
Leonard A. Bernheimer Thomas M. Poor
The U.S. Squash Hall of Fame Class of 2012 was Leonard A. Bernheimer, winner of more than thirty-five national age group titles, and Thomas A. Poor, winner of more than fortyfive United States and Canadian national age group titles in singles and doubles (center, L-R).
The U.S. Squash Hall of Fame Class of 2011 was honored during the U.S. Open in Philadelphia, Pennsylvania. Formally inducted that week were Robert W. Callahan (L), the legendary coach at Princeton University, and Joyce V. Davenport, winner of more than forty national age group titles in singles and doubles. John F. Herrick (R) would have his formal induction later in the winter in Cleveland, Ohio.
Paul Assaiante Guy Cipriano Alan Fox John F. Herrick Mariann Greenberg Demer Holleran Sam Howe
Hazel White Jones Charlie Kingsley Aggie Kurtz Gail Ramsay Carol Weymuller Greg Zaff Jim Zug (Chair) 23
US SQUASH, A MEMBER OF THE U.S. OLYMPIC COMMITEE, IS RESPONSIBLE FOR MANAGING THE NATIONAL TEAMS THAT REPRESENT THE UNITED STATES IN INTERNATIONAL SQUASH COMPETITION, WHICH INCLUDES SELECTING, SUPPORTING, COACHING AND DEVELOPING THE TEAMS.
ince the transition from hardball to softball, the adult and junior teams have made steady progress in their final standings at world team championships. This has occurred during a time of an increased number of countries participating overall, and a doubling in the number of men and women competing professionally on a worldwide basis.
1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013
NATIONAL TEAM FINISHES AT WORLD CHAMPIONSHIPS
0 5 10 15 20 25 30
2001 2003 2005
1995 1997 1999
1987 1989 1991 1993
1973 1976 1977 1979 1981 1983 1985
0 5 10 15 20 25 30 BOYS GIRLS
NATIONAL TEAM DEVELOPMENT TEAM USA: World Championships Pan American Games Pan American Squash Federation Cup ELITE ATHLETE PROGRAM AND COLLEGE
DEVELOPMENT: Providing meaningful support for
EAP AND COLLEGE DEVELOPMENT
professional touring players Engaging elite athletes through training and
NATIONAL SQUADS & JUNIOR NATIONAL TEAM EVENTS
competition Creating pathways for college players to reach their full potential
REGIONAL SQUADS & TEAM CHAMPIONSHIPS
JUNIOR NATIONAL TEAM EVENTS: World Junior Individual & Team Championships Ontario-American Challenge International Test Matches British Junior Open REGIONAL SQUADS: 3 regional squads per season 168 players across 7 regions U.S. JUNIOR CHAMPIONSHIPS
GOLD SILVER BRONZE
Played across 4 age divisions 28 regional coaches Over 5,000 training hours recorded per season
TEAM CHAMPIONSHIPS: 1 Regional Team Championship per season 168 players and 14 coaches
JUNIOR NATIONAL SQUADS: 4 Junior National Squads per season 14 players 4 junior national coaches
The junior men’s team, coached by Adam Hamill, finished 8th at the world championships held in Doha, Qatar, in July 2012. The U.S. defeated Ontario by a score of 16-8 in August 2012 at White Oaks Resort at Niagara-on-the-Lake, Ontario. The women’s team placed 13th at the 2012 Women’s World Team Championships in Nimes, France, in November 2012. The men’s team placed 12th at the 2013 Men’s World Team Championships in Mulhouse, France, in June 2013, coached by Paul Assaiante. Performances by Gilly Lane would later earn him a nomination for USOC Athlete of the Year. 27
or 105 years US Squash has been hosting national championships, and the nineteen 2012-13 U.S. Championships made for the most exciting series yet. The U. S. Open continued to grow in its second year at Drexel. Nine hundred spectators attended the finals, the largest crowd in Open history. Interactivity was the theme, whether by text or tweeting on the giant screen in between games or in an Annual Assembly address and question-and-answer with Mike Lee, the man who managed squash’s bid for the Olympics. The 2012 Open champions, Nicol David and Ramy Ashour, were each firsttime winners, with David pleased to finally capture the one major that had eluded her during her spectacular career. At the National Singles in Stamford, CT, Chris Gordon won the men’s SL Green title, ending Julian Illingworth’s eight-year reign as champion, and Natalie Grainger grabbed her sixth title in a five-game tussle with Amanda Sobhy. In the age-groups, notable wins came from former SL Green winner Anders Wahlstedt in the men’s 45+, while Sue Lawrence, who won the women’s 50+ at the 2012 World Masters, upended d e fe n d i n g c h a m p i o n B e t h Fedorowich in a five-game final of the women’s 50+. The Howe Cup, the annual women’s team event, held its eightieth edition in Seattle, with 125 players ranging from sixteen
to seventy years of age. Seattle swept three of the four divisions. The Hardball Singles were in Philadelphia. Forty-seven players entered the Hardball Singles at Merion Cricket Club. Chris Walker, former top softball pro, became the first Englishman to win the title since Gerald Roberts in 1924. The junior championships produced equally exciting action. The U.S. Junior Open, played in Boston in 2012, cemented itself as the world’s largest individual junior tournament, with over 800 players from 24 countries playing more than 1,800 matches. Overseas players won all divisions except for the GU15 and GU19, won by Helen Teegan and Sabrina Sobhy, respectively. To the disappointment of more than a thousand high school squash players, a historic blizzard forced the cancellation of the annual High School Championships. At the National Juniors, Sabrina Sobhy and Dylan Murray confirmed their positions as the best juniors in the country. Collegiate squash continued to be a hotbed of nail-biting matches. Harvard’s women just snuck past Trinity 5-4 in the finals, while Trinity’s men, after their streak of thirteen straight national titles was broken in 2012, came back to reclaim their title with a 6-3 victory over Harvard. In the national individuals, Amanda Sobhy romped to her second consecutive title, while Amr Khaled Khalifa gave St. Lawrence its first ever national
squash cup. The third Can-Am Cup was held in Buffalo during the start of Hurricane Sandy’s assault on the East Coast; Canada secured the cup for the first time in three tries. Canada also swept to victory in all four divisions at the Lapham-Grant in Vancouver. The 2013 World Doubles saw ninety-five players from nineteen countries descend on New York to play in the World Squash Federation-sanctioned event. Australia’s Damien Mudge & Ben Gould won the men’s, America’s Amanda Sobhy & Natalie Grainger took the women’s and Australia’s Paul Price & Narelle Krizek snagged the mixed. —James Zug
Flash Gordon Christopher Gordon captures his first S.L. Green U.S. Championship title in impressive style at Chelsea Piers
march/aPrIL 2013 / $3.50 www.squashmagazine.com
OFFICIAL PUBLICATION OF U.S. SqUASh
CHRIS GORDON BECAME U.S. NATIONAL CHAMPION
NATIONAL MEN’S TEAM MEMBER GILLY LANE IN THE SL
GREEN FINAL. THE
NATIONAL TITLE BOOSTED GORDON WHO THEN WENT ON TO CLAIM HIS THIRD PSA TITLE IN THE OLIVER NEW YORK METRO OPEN, AND PLAYED AS THE TOP SEED FOR THE UNITED STATES IN THE 2013 WORLD MEN’S TEAM CHAMPIONSHIPS IN MULHOUSE, FRANCE.
hristopher Gordon had a breakout year. Not only did he win his first main draw match in a major Professional Squash Association (PSA) event, when he shocked Egyptian Hisham Ashour in the opening round of the 2012 Delaware Investments U.S. Open to advance to the second round, but Gordon also captured his first SL Green Men’s U.S. Championship in March 2013. Facing Gilly Lane, who had ended the eight-year title run of Julian Illingworth in the semifinals, Gordon never gave Lane an opportunity to stop the New York native from claiming his first U.S. title. At the time ranked world No. 58, Gordon jumped ten spots to No. 44 by May, his all-time highest career ranking on the PSA world tour.
BY PROMOTING SQUASH AT THE HIGHEST LEVEL, US SQUASH CELEBRATES THE BEST IN THE WORLD WHILE, AT THE SAME TIME, ACCOMPLISHING THE GOALS OF INCREASING THE AVAILABILITY AND AWARENESS OF THE SPORT AND LAYING THE FOUNDATION FOR PROVIDING THE RESOURCES TO DO IT ON A BIGGER AND BETTER SCALE EACH YEAR. 30
2012 U.S. OPEN SQUASH CHAMPIONSHIPS
he 2012 Delaware Investments U.S. Open doubled down on interactivity. In between games on the two dozen video screens at Drexel’s Daskalakis Athletic Center, including the four-sided JumboTron, you could text or tweet responses to various questions—who will win this match? Is this a let or a stroke?— or even pose questions: “What do you eat after a match?”—or vote on referee’s calls on a replay of interference. Instantly you could see the votes tabulated. Sometimes a “fan-cam” appeared, showing dancing, waving spectators. Players tossed signed balls into the crowd after matches. Staff shot shirts and hats toward boogieing sections. You could download the U.S. Open app onto your smartphone and follow live scoring, especially handy if you were watching matches on multiple courts at the same time. Yes, you could, in the interactive expo area, bang on the radar gun like last year. Trevor McGuinness, one of the hardest hitting doubles players, recorded 155mph and, after sweeping the hair from his eyes, he said that he wanted to try it with a doubles hardball. Interactivity of an old-fashioned kind also happened behind the front wall. Conor O’Malley, the
tournament director, expanded the usually ignored space into a floating, free-flowing milieu where you could stand by a bar or sit at high tables or in regular seats. Because the players had access
magazine. They not only threw up billboards around town but hung banners from lampposts all the way down Market Street till you smacked into William Penn atop City Hall. They wrapped a 300-plus player Junior C h a m p i o n s h i p To u r tournament at Drexel and Penn that first weekend; the national intercollegiate doubles MAGAZINE was again in town; the Annual Assembly brought in dozens of key decisionmakers; NUSEA not only hosted a board meeting at the Open, but had an elite player event—the Urban Development Squad—at SquashSmarts, which meant an even larger number of urban squash Delaware Investments U.S. Open players in the stands champions, Nicol David and Ramy Ashour, finally etch their (especially during Kids names on the coveted hardware. Day when Philadelphia public school students attended matches for free). Because of deep outreach, area clubs and alumni groups held to this space and could stand evenings at the Open. An active and watch, it enabled the Open young professionals committee to become the most social and networked and made sure that intimate of any pro tournament I’ve Philadelphia, the second largest been to: players, fans, coaches, district in US Squash, supported referees—all with the best view of the event. the McWil glass court. It worked. More than 900 The Open attracted significantly people attended the finals—the larger crowds, solving for the largest crowd in Open history. disappointing attendance at the 2011 event. US Squash advertised —James Zug a two-page spread in Philadelphia
NOVEMBER 2012 / $3.50 www.squashmagazine.com
OFFICIAL PUBLICATION OF U.S. SqUASh
SQUASH GOVERNANCE WORLD
WORLD SQUASH FEDERATION
ASIA ≈6,500 COURTS
EUROPE ≈17,000 COURTS
AMERICAS ≈7,500 COURTS AFRICA ≈4,500 COURTS
OCEANIA ≈4,000 COURTS
COUNTRIES 189 Countries with courts and approximately 130 with federations
TOP 5 BY NUMBER OF COURTS
TOP 5 BY COURTS PER PERSON
2. UNITED STATES
5. SOUTH AFRICA
US SQUASH PARTNERS US Squash maintains a close working relationship with NUSEA at a national level, provides free US Squash memberships to all NUSEA students, and hosts or handles the finances for major events of which proceeds go towards individual NUSEA programs and scholarship funds. NUSEA members receive tournament and event discounts, and NUSEA is promoted through the US Squash website and Squash Magazine. US Squash hosted the 2012 Delaware Investments U.S. Open Squash Championships, continuing from the 2011 event as the first and only major professional event to feature parity in prize money for Men and Women. US Squash launched the US Pro Squash Series in January 2013 with the goal of providing a marketing and organizational umbrella for all PSA events in the United States. US Squash is the tour manager for the SDA Tour, responsible for tournament management support, rankings, news and social media coverage, and marketing and website design. US Squash provides software tools for league schedule and results, directly manages the three CSA end-of-season championships, processes CSA finances through US Squash accounting infrastructure, and provides governance consulting.
Fourteen was the magic number at the 2013 Intercollegiate Team Squash Championships, as both the Harvard women and the Trinity men recorded their fourteenth titles in school history. For the Crimson women, the team final was a nail-biter, with a 5-4 win over Trinity. Harvard’s sophomore sensation, Amanda Sobhy (R), added the individual title a week later by defeating Trinity’s Egyptian dynamo, Kanzy El Defrawy, in the final to extend her unbeaten streak in college play to two full seasons.
The Trinity Bantam men saw their remarkable thirteen-year winning streak come to an end in 2012 when Princeton captured the title. But, in 2013, the Bantams’ hunger for a return to the top of the podium was fed throughout the season and culminated in a convincing 6-3 win over Harvard to reclaim the Potter Trophy. Harvard had upset the defending champion Princeton Tigers in the semifinals, 5-4, when Gary Power recovered from being down two games to none at the number four position to carry the Crimson to the title match. 33
THE STRENGTH OF SQUASH DOUBLES PROGRAMS, THE PRO TOURS, AND THE ADDITION OF ACTIVE INTERCLUB LEAGUES HAS HELPED THE ASSOCIATION’S MEMBERSHIP CONTINUE TO GROW. 34
embership has increased 100% in the last five years and provides approximately 20% of the association’s earned revenue. The Northeast’s strength continues, although expansion on the West Coast and in other pockets of the country is increasingly significant. Close partnerships with college, high school and urban squash organizations help foster a greater sense of community among the membership. YEAR-END MEMBERSHIP TOTALS
Numbers are in Thousands
18 16 14 12 10 8 6 0
WEST COAST JUNIOR TOURNAMENTS INCREASED BY
TOP 4 US SQUASH DISTRICTS BY MEMBERSHIP
NEW YORK TOTAL 3,233
PHILADELPHIA TOTAL 1,776
MEN 1,263 WOMEN 513
WOMEN 575 35
SFIA—TOTAL SQUASH PARTICIPATION The Sports & Fitness Industry Association (SFIA), formerly the SGMA, is the trade association of leading industry sports and fitness brands, suppliers, retailers and partners. SFIA Research, working in partnership with Sports Marketing Surveys USA, is the leading supplier of research for our industry and publishes over 100 annual industry reports on industry and product categories helping you understand and manage your business. Every year, the SFIA releases this participation topline summary that features data from the largest single source sports, fitness and leisure activity participation study in the country. They track participation in 119 sports, recreation & fitness activities. This is the industry’s essential reference document for sports participation.
TOTAL PARTICIPATION TREND ACROSS 4 YEAR SPAN 2007
1 YR % CHANGE (2010-2011)
2 YR % CHANGE (2009-2011)
PARTICIPATE AT LEAST ONCE PER YEAR—SIX YEARS OF AGE OR OLDER
1,200 1,000 800 600 400 200 0
*Participation figures are in thousands
PROGRAMS In addition to the membership services provided, additional work was completed to serve the associationâ€™s mission including: b Expanded tournament support for Gold tournaments and entry management for all sanctioned tournaments; including a Tournament Director Certification Program; b Rolled out U.S. Pro Squash Series in 2013, increasing the number of events from 7 to 19;
American Julian Illingworth, the eight-time SL Green National Champion, captured the inaugural U.S. Pro Squash Series.
b Introduced the 1904 Society recognition for endowment and legacy or planned giving, as well as a Friends of Junior Squash campaign; b Supported the Olympic bid effort via fund-raising and promotion; b Opened a regional office in Philadelphia to support area activity; b Migrated the website content management system to lay the groundwork for additional future updates and improvements to the associationâ€™s online presence.
SITE VISITS UNIQUE VISITORS
JUNIOR SQUASH IS A RAPIDLY EXPANDING DEMOGRAPHIC IN THE UNITED STATES, WITH THOUSANDS OF JUNIORS PARTICIPATING IN TOURNAMENTS, LEAGUES AND PROGRAMS AROUND THE COUNTRY. THE JUNIOR PROGRAMS RUN BY US SQUASH SUPPORT THE ASSOCIATION’S VISION FOR ALL PEOPLE TO HAVE THE OPPORTUNITY TO ENHANCE THEIR HEALTH AND WELL-BEING THROUGH THE SPORT OF SQUASH. 38
JUNIOR SQUASH Participation rates continued to rise across the country in accredited matches and tournaments offered. More tournaments of each level were hosted, while the average number of players per tournament type remained fairly stable. Slight modifications to the junior development structure were also made including: b Further standardized guidelines and timelines for bronze, silver, and gold level accredited tournaments; b Slight adjustments to points structure for bronze and U.S. Championship events to make the ranking system more accurate. TOTAL JUNIOR TOURNAMENTS BY TYPE PER SEASON 140 MAGAZINE
120 100 80
Sabrina Sobhy takeS U.S. Jr. open
At just 15-years-old, Sabrina Sobhy rises to the top of the U19
20 0 2010-2011
AVERAGE JUNIOR PLAYERS PER TOURNAMENT TYPE 250 200 150 100 50 0 2010-2011
DECEMBER 2012 / $3.50 www.squashmagazine.com
OFFICIAL PUBLICATION OF U.S. SqUASh
Fifteen-year-old Sabrina Sobhy won her first U.S. Junior Open under-19 title as the number one seed and top-ranked player in the division. Played at Harvard University’s Murr Center, Sobhy was helped along by the support of her sister, Amanda, a sophomore on the Crimson women’s team and former winner of the same event. Just a month earlier, Sabrina Sobhy represented the U.S. on the women’s world championships team in Nimes, France.
INCREASING THE PARTICIPATION OF WOMEN IN SQUASH IS A PRIORITY FOR US SQUASH. JUNIOR, INDIVIDUAL AND TEAM PROGRAMS ARE STRONG ACROSS THE UNITED STATES AND, IN ADDITION TO INCREASING PARTICIPATION AT NATIONAL EVENTS, A REGIONAL NETWORK OF WOMEN’S COMMITTEE MEMBERS HAS 40
n 2008, New York’s Jessica Green and Emily Stieff started “Women’s Squash Night” as a way for New York Squash (then the Metropolitan Squash Racquets Association) to build growth in women’s squash. After running four successful events in New York, in 2011 AJ Copeland reached out to Stieff to put a similar event together in Washington, DC. In the fall of 2012, the night turned into a nation-wide celebration—Women’s Squash Week. With fifteen cities joining in, more than 400 women of all ages and skill levels participated in social round robins of singles, doubles, and “queen of the court.” The goal was social, not competitive, play to inspire women to get back on court after the summer, reconnect with old friends, and introduce new women players to the sport. Women’s Squash Week not only brought players out in droves to local events, but it has helped spawn more participation in weekly round robins, league teams, and the development of new teams to participate in Howe Cup.
MEMBER GENDER RATIO AS OF JUNE 30, 2013
74% MALES FEMALES
Each of the fifteen cities hosting Women’s Squash Week activities took group photos to commemorate the event. In New York, nearly fifty women enjoyed the festivities on “photo day” and used the camaradarie developed throughout the week to increase participation in squash throughout the year.
WOMEN’S COMMITTEE TRI-CHAIRS: Kim Clearkin, AJ Copeland and Jen Gabler 41
WHY GIVE? To continue to develop new programs, build awareness and grow the game, we need your support. As a not-for-profit 501(c)3 organization, US Squash relies on the generosity of its friends and supporters to help fund our activities, which are designed to build a bright future for squash. Each contribution is 100% tax-deductible and has a direct impact on our efforts to enrich the experience of players in the United States.
To make a donation, visit www.ussquash.com and click DONATE or call 212.268.4090. 42
You can shape the future of squash in many ways: The association raises an additional $400,000-600,000 in critical support each year across the Annual, Junior and National Team Funds to balance the budget. This additional 15% of the budget, raised through contributions, allows the organization to continue to invest in technology to increase efficiencies and program quality, and to hire staff responsible for driving and managing the growth and development of the sport.
ANNUAL FUND Provides a major source of funding for US Squash’s core programs. Gifts to the Annual Fund allow US Squash to invest in areas where they are most needed to continue to develop new programs, build awareness and grow the game.
JUNIOR DEVELOPMENT FUND Created to meet the needs of the rapidly expanding junior community. Gifts are restricted to junior development, to improve the quality of our junior squash programs, expand their reach, and increase the opportunities associated with being involved with junior squash.
NATIONAL TEAMS FUND US Squash invests $400,000 annually in our National Teams program. It is our goal to take the best our country has to offer, and combine it with world-class professional support in order for our athletes and National Teams to have the opportunity to become true ‘players’ on the world stage.
DOUBLES FUND Gifts are restricted to doubles development, improving the quality of our squash doubles programs, and increasing the opportunities for young people from underserved communities to benefit from the life-changing opportunities that squash doubles can provide.
HARDBALL SINGLES FUND Supports hardball singles activities. Hardball singles has been played at the national level since 1907 and continues to this day.
US SQUASH 1904 LEGACY SOCIETY To recognize donors that make a planned gift, in 2013 US Squash created the 1904 Society. Those who donate $10,000 or more to the US Squash Endowment Fund or Junior Endowment Fund, or via planned giving through bequests, life insurance policies or annuities, will now be recognized in perpetuity as a lifetime member of the US Squash 1904 Legacy Society. 43
1904 SOCIETY BE REMEMBERED FOR YOUR PASSION
Lifetime members of the 1904 Society have donated $10,000 or more to the US Squash Endowment Fund or Junior Endowment Fund, or via planned giving with a bequest, life insurance policy or annuity. These legacy gifts allow the organization to honor those who value the past and present role that squash has played in their lives.
Mary Acuff Russell C. Ball Stephanie and David Barrett Leonard Bernheimer Camille and Bill Broadbent Beth and Samuel Chapin Richard S. Chute DeRoy Testamentary Foundation Lynn and William A. Douglass Daniel L. Dudas Brian G. Dyson Patricia and Eric C. Fast Ruth C. and A. Carter Fergusson Helen and Brian D. Fitzgerald Sarah K. de Coizart Article TENTH Perpetual Charitable Trust Alan L. Fox William Garratt Vere Gaynor William H. Giese Stephen L. Green The Haggarty Foundation Robert Hanscom Anne and Bill Harrison
T. James Hense, Jr. Mr. John F. Herrick George A. Kellner Darwin P. Kingsley III Charles C. Kingsley Elizabeth Kingsley Seymour H. Knox IV George B. Lemmon Sue and Steve Mandel John M. McGarry Sidney F. McKenna Polly and Terry Oâ€™Toole Pierce Family Partnership John R. Reese Aileen K. and Brian L. Roberts Frank H. Schmidt Cynthia L. and William E. Simon Jr. C.K. Skinner, Jr. Gretchen L. and A. Warren Smith, Jr. Letitia W. and Charles W. Ufford Jr. James Van Kennen Wheelock Whitney C. Howard Wilkins Anonymous
IF YOU WOULD LIKE TO FIND OUT MORE ABOUT SUPPORTING US SQUASH THROUGH LEGACY GIVING, VIST WWW.USSQUASH.COM AND CLICK ON DONATE, CALL 212-268-4090 OR EMAIL DEVELOPMENT@USSQUASH.COM
2013-2014 US SQUASH CHAMPIONSHIP SERIES ADULT CHAMPIONSHIPS
U.S. OPEN SQUASH CHAMPIONSHIPS* Philadelphia, PA October 9-18, 2013
U.S. OPEN SQUASH DOUBLES CHAMPIONSHIPS* Philadelphia, PA December 5-8, 2013
U.S. WOMEN’S TEAM SQUASH CHAMPIONSHIPS (HOWE CUP) King of Prussia, PA October 18-20, 2013
U.S. DOUBLES SQUASH CHAMPIONSHIPS New York, NY March 21-23, 2014
U.S. HARDBALL SQUASH CHAMPIONSHIPS New York, NY February 14-16, 2014 U.S. SQUASH SKILL LEVEL CHAMPIONSHIPS Baltimore, MD April 5-6, 2014 U.S. MASTERS SQUASH CHAMPIONSHIPS (OPEN AGE DIVISION) Charlottesville, VA March 7-9, 2014
U.S. JUNIOR SQUASH DOUBLES CHAMPIONSHIPS Wilmington, DE March 28-30, 2014 U.S. CENTURY SQUASH DOUBLES CHAMPIONSHIPS New York, NY February 21-23, 2014 U.S. FATHER-SON SQUASH DOUBLES CHAMPIONSHIPS New York, NY April 4-6, 2014 *Professional Event
JUNIOR CHAMPIONSHIPS U.S. JUNIOR OPEN SQUASH CHAMPIONSHIPS New Haven, CT December 14-17, 2013 U.S. MIDDLE SCHOOL TEAM SQUASH CHAMPIONSHIPS New Haven, CT January 31-February 2, 2014 U.S. HIGH SCHOOL TEAM SQUASH CHAMPIONSHIPS Philadelphia, PA February 7-9, 2014 U.S. JUNIOR SQUASH CHAMPIONSHIPS (CLOSED) Princeton, NJ March 14-16, 2014 U.S. JUNIOR SILVER SQUASH CHAMPIONSHIPS Newtown Square, PA April 11-13, 2014 U.S. JUNIOR BRONZE SQUASH CHAMPIONSHIPS New Haven, CT April 25-27, 2014
FOR MORE INFORMATION VISIT
2012-2013 NATIONAL CHAMPIONS JUNIORS 2012 U.S. JUNIOR OPEN SQUASH CHAMPIONSHIPS
BU19 Karim El Hammamy BU17 Diego Elias BU15 Juan J. Camacho Mercado BU13 Leonel Cardenas, Jr. BU11 Karim Elbarbary GU19 Sabrina Sobhy GU17 Laila Omar GU15 Helen Teegan GU13 Farida M. Saber GU11 Farida Mohamed 2013 U.S. JUNIOR SQUASH CHAMPIONSHIPS
BU19 Dylan Murray BU17 Derek Hsue BU15 Harrison Gill BU13 Charles M. East BU11 Conner Stoltz GU19 Sabrina Sobhy GU17 Caroline D. East GU15 Casey S. Wong GU13 Elle Ruggiero GU11 Marina E. Stefanoni 2013 U.S. JUNIOR SILVER SQUASH CHAMPIONSHIPS
BU19 Aaron Jung BU17 Justin Restivo BU15 Jonathan R. Lentz BU13 Spencer Yager BU11 Auggie H. Bhavsar GU19 Hannah Scherl GU17 Abigail Shonrock GU15 Caroline Q. Neave GU13 Isabella Kearns GU11 Nina Flinn 2013 U.S. JUNIOR BRONZE SQUASH CHAMPIONSHIPS
BU19 James W. Michaelis BU17 Vedaant Kukadia 46
BU15 Anton Boyer BU13 Vaughan Siker BU11 Robby Friz GU19 Khadijah Muhammad GU17 Nicole Windreich GU15 Lilly L. Soroko GU13 Grace E. Rorke GU11 Kristen Weil 2013 U.S. MIDDLE SCHOOL TEAM SQUASH CHAMPIONSHIPS
Boys’ Division 1 Pingry School Boys’ Division 2 Calvert School Girls’ Division 1 Greenwich Academy 2013 U.S. HIGH SCHOOL TEAM SQUASH CHAMPIONSHIPS
Not played due to severe weather
DOUBLES 2013 U.S. JUNIOR SQUASH DOUBLES CHAMPIONSHIPS
BU19 Randy Beck & Mason Blake BU17 Senen Ubina & Jarret Odrich BU15 Christopher Dalglish & Sean Oen BU13 Deven S. Kanwal & David C. Rubin BU11 William Aube & Andrew Aube GU19 Sawyer Chilton & Diane J. Tyson GU15 Samira Baird & Julia D. Buchholz GU13 Caroline Spahr & Haley C. Aube Mixed U19 Trevor Wentzell & Sarah Hopton Mixed U17 Jarett M. Odrich & Kayley M. Leonard Mixed U15 Maximo L. Moyer & Emily B. Beinkampen Mixed U13 Deven S. Kanwal & Caroline Spahr 2012 U.S. OPEN SQUASH DOUBLES CHAMPIONSHIPS
Men’s Open Damien Mudge & Ben Gould 2013 U.S. SQUASH DOUBLES CHAMPIONSHIPS
Men’s Open Preston B. Quick & Gregory O. Park Men’s 40+ Shane Coleman & Michael Puertas Men’s 45+ William J Villari & Chris Walker
Men’s 50+ Dominic Hughes & Richard A. Sheppard Men’s 55+ Sean Mcdonough & Albert G. Tierney Men’s 60+ Palmer Page & Joseph Casey McKee Men’s 65+ Molson Robertson & Tony Swift Men’s 70+ Don Mills & Bartlett H. McGuire Men’s 75+ Barry Abelson & John Wildman Women’s Open Dana Betts & Stephanie Hewitt Women’s 40+ Berkeley Revenaugh & Lee Belknap Women’s 50+ Sara Luther & Joyce Davenport 2013 U.S. CENTURY SQUASH DOUBLES CHAMPIONSHIPS
Open Eben Hardie & William J. Villari Legends (60+) Tony Ross & Scott Stoneburgh Masters (70+) Bartlett H. McGuire & Aaron Zimmerman Grand Champions (80+) Will Simonton & Michael McBean Women’s Susan M. Greene & Susan Rose Mixed Palmer Page & Libby E. Welch 2013 U.S. FATHER-SON SQUASH DOUBLES CHAMPIONSHIPS
Open Chris Spahr & Carson Spahr Century James W. Zug & James W. Zug, Jr. 17 & Under Harry C. Curtis & Samuel Curtis 13 & Under Peter C. Miller & Peter S. Miller 2013 U.S. MIXED SQUASH DOUBLES CHAMPIONSHIPS
Open Steven A. Scharff & Natalie J. Grainger 40+ Eric Vlcek & Marie Vlcek 50+ Charles H. Parkhurst & Joyce V. Davenport 2012 U.S. INTERCOLLEGIATE SQUASH DOUBLES CHAMPIONSHIPS
Men’s Open Todd B. Harrity & Taylor W. Tutrone Women’s Open Ashley Tidman & Natalie Babjukova Mixed Daniel Judd & Colleen M. Fehm
ADULTS 2013 U.S. CHAMPIONSHIPS (MEN’S AND WOMEN’S CLOSED)
Men Christopher Gordon Women Natalie J. Grainger
2012 U.S. WOMEN’S TEAM SQUASH CHAMPIONSHIPS (HOWE CUP)
A Division Seattle – Seattle’s Best B Division Seattle – Team Theattle C Division Washington, D.C. – National Capitol Squashers D Division Seattle – Seattle Sirens 2013 U.S. MASTERS SQUASH CHAMPIONSHIPS
Men’s 35+ Liam Kenny Men’s 40+ Daniel A. Sharplin Men’s 45+ Anders Wahlstedt Men’s 50+ Richard C. Millman Men’s 55+ Michael Bertin Men’s 60+ Bruce S. Brickman Men’s 65+ William Berlinghof Men’s 70+ Gerry A. Poulton, PhD Men’s 75+ Alastair C. Gowan Men’s 80+ Philip E. Leis Women’s 35+ Hope Nichols Prockop Women’s 40+ Juliana L. Lilien Women’s 45+ Juliana L. Lilien Women’s 50+ Susan Lawrence 2013 US SQUASH CHAMPIONSHIPS (SKILL LEVELS)
Men’s 6.0 Ehimen J. Ehalen Men’s 5.5 Jose L. Calderon Men’s 5.0 J. Zachary Bradley Men’s 4.5 Benjamin T. Smith Men’s 4.0 Luke Park Men’s 3.5 Ben M. Korn Men’s 3.0 Garon G. Rothenberg Women’s 5.0 Susan Lawrence Women’s 4.0 Casey S. Wong Women’s 3.0 Katherine C. E. Galambos 2013 U.S. HARDBALL SINGLES CHAMPIONSHIPS
Men’s Open Chris Walker Men’s 50+ Thomas W. Harrity Men’s 60+ Palmer Page Men’s 65+ Tefft W. Smith Men’s 70+ James Zug Men’s 75+ Bruce Elfenbein Men’s 80+ Charles Baker 47
US SQUASH FINANCIALS
S Squash’s fiscal year runs from July 1 – June 30 each year, mirroring the seasonality of the sport. Operating revenues before fundraising for the Association are approximately $3.2 million, comprised of roughly 25% from event entries, 20% from membership, 18% from sponsorship, 13% from accreditation (sanctioning) fees, and 10% from event-related contributions. Expenses are comprised of roughly 55% direct expenses (44% of which is event-related and 6% national team), 31% personnel and 14% shared expenses for the association. Since expenses exceed earned revenues, and event entry fees are less than expenses, typically the association raises an additional 15% of the budget through contributions to break even while also allowing the organization to continue to invest in driving and managing the growth of the sport. Since 2007, US Squash has used Matt Dapolito, CPA, President at NonProfit Fiscal Management LLC, to provide financial control services on an ongoing basis. Since 2008, US Squash has used Jim Mulroy, CPA, PSA, CGFM, partner at WithumSmith+Brown, the Certified Public Accountant and Consultants firm, to conduct annual independent audits of the Association’s finances. US Squash’s financial statements (Form 990) under section 501(c), dating back to 2004, are available in the About section of the US Squash website. MANAGEMENT DISCUSSION AND ANALYSIS FOR FISCAL YEAR 2013 The association has increased overall revenue by more than $1.4 million, or 64%, in the last three years and ended the fiscal year with $188,000 in operating cash and $2,319,000 in endowment fund investments. US Squash has not had to draw on its $200,000 bank line of credit since 2010, historically a regular occurrence. The organization’s consistent growth has been combined with severely limited cash resources despite the association continuing to run as a lean organization. US Squash maintains the highest revenue per employee ratio versus comparable national sports governing bodies in the U.S. and 90% of expenses are focused on investments in programs to grow the sport. For the fiscal year ending June 30, 2013, US Squash experienced a decrease in net assets of $393,000, and cash was down $236,000, due in part to delayed collection of $70,000 in Platinum Club member dues, $125,000 in losses from two new events, and the funding of two adult world championship teams in one fiscal year (the men’s team competed in June, several months earlier than normal). There was also less event activity versus the prior year, and the U.S. High School Team Championships was cancelled due to weather. The proposed budget for the fiscal year ending June 30, 2014, is projected at break even. This includes an additional $120,000 in capital purchases and technology investments. Fiscal year 2014 will be the first operational year with US Squash owning and operating Squash Magazine. Total expenses are planned to increase $476,000, or 24%, with the largest increase being in payroll with the addition of five (5) new staff positions, mostly related to the Squash Magazine purchase and the need to develop a Marketing/Communications department. These positions include Senior Correspondent, Executive Editor, Graphic Designer, and Seasonal Communications and Events Managers. The budget also includes new expenses from the planned Elite Athlete Program providing increased direct support to U.S. professional players, public relations consulting and sponsorship sales consulting services. Revenues are planned to increase by $611,000 as a result of anticipated membership growth, sponsorship fee increases, a rise in sanctioned tournaments, advertising fees associated with the magazine and program fees related to operating a full schedule of regional squads. Approximately one-third of the revenue increase is due to the expected addition of the North American Open as a men’s and women’s professional event in spring 2014. *Full audit report is available upon request. 49
United States Squash Racquets Association, Inc. Statements of Financial Position June 30, 2013 and 2012 2013
Assets Current assets Cash and cash equivalents Accounts and other receivables Contributions receivable, net Merchandise inventory Prepaid expenses Total current assets
Property and equipment, net Investments - restricted for endowment Other assets Contributions receivable, net U.S. Open trademark, net of accumulated amortization of $15,482 in 2013 and $14,344 in 2012 Software development costs, net of accumulated amortization of $104,302 in 2013 and $81,124 in 2012 Cash surrender value of life insurance - restricted for endowment Total other assets
188,812 108,368 160,000 42,496 133,516 633,192
424,476 128,688 17,690 38,816 128,467 738,137
57,947 114,612 399,258
81,125 110,626 716,240
210,121 389,684 -7,505 3,000 610,310
169,994 374,886 33,714 7,101 -585,695
Liabilities and Net Assets Liabilities Current liabilities Accounts payable and accrued expenses Deferred revenue Licensing fee payable Capital lease obligation, current portion Other current liabilities Total current liabilities Noncurrent liabilities Deferred revenue Capital lease obligation Total liabilities Net assets Unrestricted Temporarily restricted Permanently restricted Total net assets $
The Notes to Financial Statements are an integral part of these statements. 3 50
56,462 3,910 670,682
59,673 11,415 656,783
62,610 387,074 2,262,086 2,711,770
191,488 651,818 2,261,157 3,104,463
United States Squash Racquets Association, Inc. Statements of Activities Year Ended June 30, 2013 (with comparative totals for 2012)
Support and revenue Events Entry fees Sponsorship and royalties Sanctioning fees Commissions and licensing Membership Program fees Management fees Contributions Merchandise, net Investment income, net Miscellaneous income
Net assets released from restriction
Expenses Program services Membership Events Senior Junior Senior programs Junior programs Certification Supporting services Management and general Fundraising
Change in net assets Net assets - beginning of year Net assets - end of year
911,500 555,767 321,783 30,510 726,434 67,074 171,093 316,435 (13,073) 187,667 16,213
-------340,314 ---(605,058) (264,744)
911,500 555,767 321,783 30,510 726,434 67,074 171,093 657,678 (13,073) 187,667 16,213
1,026,625 706,062 214,636 32,977 665,039 45,250 35,000 2,048,102 6,903 91,472 13,000
1,445,757 709,522 493,021 511,001 176,557 3,643,578
1,445,757 709,522 493,021 511,001 176,557 3,643,578
1,858,259 872,459 363,511 340,447 63,183 3,772,532
250,364 131,397 381,761 4,025,339
250,364 131,397 381,761 4,025,339
224,385 245,134 469,519 4,242,051
The Notes to Financial Statements are an integral part of this statement. 4
United States Squash Racquets Association, Inc. Statements of Cash Flows Years Ended June 30, 2013 and 2012 2013 Cash flows from operating activities Change in net assets Adjustments to reconcile change in net assets to net cash (used) provided by operating activities Bad debt Depreciation and amortization Realized gains Unrealized (gains) and losses Increase in cash value of life insurance policies (Increase) decrease in assets Accounts and other receivables Contributions receivable Merchandise inventory Prepaid expenses Increase (decrease) in liabilities Accounts payable and accrued expenses Deferred revenue Other current liabilities Net cash (used) provided by operating activities
10,000 38,262 (73,785) (59,830) (3,986)
9,048 43,645 (67,768) 23,678 (4,000)
10,320 154,342 (3,680) (5,049)
(84,792) (491,023) (9,327) (27,979)
40,127 11,587 3,000 (271,385)
103,410 (39,054) -98,853
Cash flows from investing activities Purchase of equipment Net proceeds from sales of investments Net cash provided by investing activities
(18,815) 95,351 76,536
(3,317) 73,868 70,551
Cash flows from financing activities Principal payments on licensing fee payable Principal payments on capital lease obligation Net cash used by financing activities
(33,714) (7,101) (40,815)
(34,766) (6,717) (41,483)
Change in cash and cash equivalents Cash and cash equivalents Beginning of year End of year
Supplemental disclosure of cash flow information Interest paid
The Notes to Financial Statements are an integral part of these statements. 8
United States Squash Racquets Association, Inc. Notes to Financial Statements June 30, 2013 and 2012 1.
Nature of Operations United States Squash Racquets Association, Inc. (the â€œAssociationâ€?) is the governing body of the game of squash racquets in the United States. Its mission is to govern and promote the game of squash in all forms, promote participation in the game by the full spectrum of players and abilities, from novice to professionals, aid its members and member associations in the development, promotion, and administration of squash, to continually improve the game, the rules, and the quality of participation by all involved, and to maintain a genuine spirit of true fair play and sportsmanship among all who play.
Summary of Significant Accounting Policies Basis of Accounting The financial statements of the Association are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Basis of Presentation The Association reports information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents For purposes of the statements of cash flows, cash equivalents include short-term money market funds, commercial paper and certificates of deposit with an initial maturity of three months or less that are not held in a brokerage account for reinvestment. These cash equivalents are carried at cost which approximates fair value. Contributions Contributions (including grants, pledges and public support) received are recorded as increases in unrestricted, temporarily restricted, or permanently restricted net assets, depending on the existence or nature of any donor restrictions. All donor-restricted contributions are reported as increases in temporarily or permanently restricted net assets. When a restriction expires (that is, when a stipulated time restriction ends or purpose restriction is accomplished), restricted net assets are reclassified to unrestricted net assets and reported in the statements of activities as net assets released from restrictions. Investments Investments in marketable securities are reported at their fair value in the statements of financial position. Realized and unrealized gains and losses are included in the change in net assets in the accompanying statements of activities. Investments Pools The Association maintains investment accounts for its donor-restricted endowments. Realized and unrealized gains and losses from securities in the investment accounts are unrestricted or temporarily restricted based on the type of restriction, if any, placed on them.
United States Squash Racquets Association, Inc. Notes to Financial Statements June 30, 2013 and 2012 Investment Income Investment income restricted by donors is reported as an increase in unrestricted net assets if the restriction is met (either a stipulated time period ends or a purpose restriction expires) in the reporting period in which the income is recognized. Inventory Inventory, which consists primarily of merchandise, is valued at the lower of cost or market. Accounts Receivable Accounts receivable consist of events and membership dues and are stated at the amount management expects to collect from balances outstanding at year end. Based on managementâ€™s assessment of the credit history with customers having outstanding balances and current relationships with them, it has concluded that realization losses on balances outstanding at year end will not be significant and no allowance for doubtful accounts has been recorded. Contributions Receivable Unconditional promises to give are reported at the amounts management expects to collect on balances outstanding at year end. Management closely monitors outstanding balances and writes off, as of year end, all balances that are not considered collectible. Unconditional promises to give, less an allowance for uncollectible amounts are recognized as revenue in the period received and as assets, decreases of liabilities, or expenses, depending on the form of the benefits received. Conditional promises to give are recognized only when the conditions on which they depend are substantially met. Property and Equipment Property, equipment and fixtures are carried at cost. Maintenance, repairs, and minor renewals are charged to expense when incurred. Permanent additions and renovations of $1,000 or more are capitalized as incurred. Depreciation is provided using the straight-line method over the estimated useful lives of the assets, generally 7 to 40 years for buildings and improvements, and 5 years for equipment, furniture and fixtures. Intangibles Intangible assets deemed to have indefinite lives are subject to periodic evaluation. The U.S. Open trademark costs are amortized over its estimated useful life of 40 years. Software development costs are amortized over its estimated useful life of 7 years. Deferred Revenue Membersâ€™ dues and tournament fees received in advance for future fiscal years are recorded as deferred revenue, and recognized as revenue when earned in the applicable future periods. Income Taxes The Association is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code and from New York income taxes under the respective state charitable organization taxing authorities. The Association had no unrecognized tax benefits at June 30, 2013. The Association had no open years subject to examination prior to June 30, 2010. In addition, the Association has no income tax related penalties or interest for the periods reported in these financial statements.
United States Squash Racquets Association, Inc. Notes to Financial Statements June 30, 2013 and 2012 3.
Investments Investments consisted of the following at June 30: 2013
Cash and money market funds Exchange traded funds
46,344 2,273,644 2,319,988
Cash and money market funds Exchange traded funds
46,344 2,106,737 2,153,081 Cost
67,910 2,213,814 2,281,724
67,910 2,106,737 2,174,647
Investments consist of permanently restricted net assets designated for long-term purposes together with earnings designated for unrestricted and temporarily restricted use. The following schedule summarizes the components of investment return which is reported in investment income in the statements of activities for the years ended June 30: 2013 Interest and dividend income Realized gains Unrealized gains (losses)
54,052 73,785 59,830 187,667
47,382 67,768 (23,678) 91,472
Fair Value Measurements Pursuant to the requirements of the pronouncement on Fair Value Measurements, the Association has provided fair value disclosure information for relevant assets in these financial statements. The following table summarizes assets which have been accounted for at fair value on a recurring basis as of June 30, 2013 and 2012, along with the basis of the determination of fair value: 2013 Total Cash and money market funds Exchange traded funds
46,344 2,273,644 2,319,988
Quoted Prices in Active Markets (Level 1)
Cash and money market funds Exchange traded funds
Quoted Prices in Active Markets (Level 1)
67,910 2,213,814 2,281,724
46,344 2,273,644 2,319,988
67,910 2,213,814 2,281,724
United States Squash Racquets Association, Inc. Notes to Financial Statements June 30, 2013 and 2012 For applicable assets (liabilities) subject to this pronouncement, the Association will value such assets (liabilities) using quoted market prices in active markets (Level 1) for identical assets (liabilities) to the extent possible. To the extent possible that such markets are not available, the Association will next attempt to value such assets (liabilities) using observable measurement criteria (Level 2), including quoted market prices of similar assets (liabilities) in active and inactive markets and other corroborated factors. In the event that quoted market prices in active markets and other observable measurement criteria are not available, the Association will develop measurement criteria based on the best information available (Level 3). 5.
Financial Instruments The following methods and assumptions were used to estimate the fair value of the Associationâ€™s financial instruments: Cash and cash equivalents â€“ the carrying amount approximates fair value because of the short maturities of those investments. Contributions receivable â€“ the carrying amount approximates fair value because they have been discounted to net present value using an interest rate at the time of donation commensurate with a risk-free rate of return appropriate for the expected term.
Contributions Receivable Contributions receivable consisted of the following at June 30: 2013 Receivable in less than one year Receivable in one to five years Receivable in over five years
160,000 196,681 -356,681
17,690 493,333 -511,023
Contributions receivable due in more than one year were discounted 3 percent at each of the years ended June 30, 2013 and 2012. 7.
Deferred Revenue Deferred revenue consisted of the following at June 30: 2013 Membership dues Life member dues Tournament income
261,683 59,674 124,789 446,146 389,684
329,611 62,884 42,064 434,559 374,886
Current portion Net of current portion
United States Squash Racquets Association, Inc. Notes to Financial Statements June 30, 2013 and 2012 Deferred membership dues relate to annual memberships paid throughout the year. Memberships run on 12 month cycles from the date of the memberâ€™s application or renewal. Deferred life member dues relate to members who have a life-time membership in the Association. Life memberships are being amortized over 40 years. Life-time memberships ceased being issued in 2006. 8.
Property and Equipment Property and equipment at June 30 consisted of the following: 2013 Equipment, furniture and fixtures Less: Accumulated depreciation
110,011 (79,997) 30,014
2012 $ $
91,196 (66,051) 25,145
Depreciation on property and equipment for the years ended June 30, 2013 and 2012 was $13,946 and $19,329, respectively. 9.
Software Development Costs Software development costs at June 30 consisted of the following: 2013 Software development costs Less: Accumulated amortization
162,249 (104,302) 57,947
2012 $ $
162,249 (81,124) 81,125
Amortization on software development costs for each of the years ended June 30, 2013 and 2012 was $23,178. 10.
U.S. Open Trademark U.S. Open trademark at June 30 consisted of the following: 2013 Software development costs Less: Accumulated amortization
45,500 (15,482) 30,018
2012 $ $
45,500 (14,344) 31,156
Amortization on the U.S. Open trademark for each of the years ended June 30, 2013 and 2012 was $1,138.
United States Squash Racquets Association, Inc. Notes to Financial Statements June 30, 2013 and 2012 11.
Capital Lease Obligation The Association entered into a capital lease arrangement in 2010 for copier equipment. The future minimum lease payments due under this capital lease obligation and the net present value of those payments at June 30, 2013 are as follows: Years Ending June 30,
Less: Amounts representing interest at 5.6 percent
7,949 3,974 11,923 (508)
Capital lease obligation
Net of current portion
Commitments The Association conducts its administrative activities from facilities that are leased under various noncancelable operating leases expiring between 2014 and 2015. Rent expense amounted to $109,912 and $102,240 for the years ended June 30, 2013 and 2012, respectively. Future minimum rental payments due under all leases are as follows: Years Ending June 30,
37,412 10,530 47,942
Licensing Fee Payable The Association entered into a software licensing fee arrangement in 2009 for software development costs. The final payment on this obligation was made by June 30, 2013.
Restrictions/Limitations on Net Assets Temporarily restricted net assets at June 30, are available for the following purposes: 2013 Operations Junior Development Urban Squash Hall of Fame Hardball Capacity Building Olympic Fund
340,000 -15,702 3,981 15,641 5,800 5,950 387,074
450,000 33,333 14,702 3,941 18,042 96,800 35,000 651,818
United States Squash Racquets Association, Inc. Notes to Financial Statements June 30, 2013 and 2012 Permanently restricted net assets are restricted endowments in which the principal is invested in perpetuity and the income is expendable to support the designated purposes. The purposes for which the endowment income may be used and the principal amount of the endowment designated for each purpose at June 30, are: 2013 Endowments (Operations) Junior Endowments (Junior Development)
1,295,166 966,920 2,262,086
2012 $ $
1,294,237 966,920 2,261,157
Concentration of Credit Risk The Association maintained interest bearing cash balances at one financial institution that exceeded the insured limit by the Federal Deposit Insurance Corporation (“FDIC insured”). The Association has not experienced any losses in these accounts. The Association believes it is not exposed to any significant credit risk on its cash balances.
Endowments The Association adopted Endowments of Not-for-Profit Organizations: Net Asset Classification of Funds Subject to an Enacted Version of the Uniform Prudent Management of Institutional Funds Act, and Enhanced Disclosure for All Endowment Funds. This publication provides guidance on the net asset classification of donor-restricted endowment funds for a nonprofit organization that is subject to an enacted version of the Uniform Prudent Management of Institutional Funds Act of 2006 (“UPMIFA”). UPMIFA is a model act approved by the Uniform Law Commission that serves as a guideline for states to use in enacting legislation. This pronouncement also improves disclosures about an organization’s endowment funds (both donor-restricted endowment funds and board-designated endowment funds), whether or not the organization is subject to UPMIFA. The Association’s endowments consist of the Senior and Junior endowment funds in which the principal is invested in perpetuity and the income is expendable to support the designated purpose; operations from the Senior endowment and Junior programs for the Junior endowment. In addition the endowments contain funds that are designated by the Board of Directors. This fund holds the unexpended amounts of revenue generated by the Senior endowment fund when it exceeds the amount as allowable expenditures in accordance with the spending formula (see below). As required by GAAP, net assets associated with endowment funds, including funds designated by the Association to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. Interpretation The Association follows the New York State Not-For-Profit Corporation Law (“N-PCL”) when adhering to donor-restricted contributions. The law preserves the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the Association classifies as permanently restricted net assets (a) the original value of gifts donated to the permanent endowment and the original value of subsequent gifts to the permanent endowment. Currently there are no gifts that require the accumulation of earning as additions to the permanent endowments. The portion of the donor-restricted endowment fund that is not classified as permanently restricted net assets is classified as unrestricted or temporarily restricted net assets based on donor stipulations.
United States Squash Racquets Association, Inc. Notes to Financial Statements June 30, 2013 and 2012 The Association considers the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds: 1) The duration and preservation of the fund 2) The purposes of the Association and the donor-restricted endowment fund 3) General economic conditions 4) The possible effect of inflation and deflation 5) The expected total return from income and the appreciation of investments 6) Other resources of the Association 7) The investment policies of the Association Investment policy The Associationâ€™s Board of Directors will delegate investment responsibility to its Investment Committee. The Investment Committee shall be responsible for maintaining a policy of prudent investment in stocks, bonds, real estate, mutual funds, non-marketable securities such as private placements and limited partnerships, and other similar financial and trust instruments or interests. The Investment Committee shall make the decisions leading to the timely purchase or sale of securities, interests, or instruments and shall make analyses of the market conditions as will, in the Investment Committeeâ€™s judgment, provide for both short-term and long-term investment strategies. Investments may be made on behalf of the Association either by the Investment Committee, its delegated members or by independent investment managers selected by the Investment Committee and regularly reviewed for performance. The Investment committee operates in accordance with its Committee Charter and statements of investment policy. Funds with deficiencies From time to time, the fair value of the assets associated with individual donor-restricted endowment funds may fall below the level that the donor requires the Association to retain as a fund of perpetual duration. In accordance with GAAP, deficiencies of this nature are reported in unrestricted and temporarily restricted net assets. Spending policy The Association's spending policy, as approved by its Board, permits the Association to utilize for current operations and Junior programs up to 5 percent of the rolling three-year average of its endowment funds. Such spending is generally required to be obtained from current and accumulated investment earnings on the endowment funds. Endowment net asset composition by type of fund at June 30 is as follows: 2013 Senior Endowment Fund Junior Endowment Fund Operations Urban Squash Hall of Fame Hardball Capacity Building Olympic Fund
Temporarily Restricted $
--340,000 15,702 3,981 15,641 5,800 5,950 387,074
Permanently Restricted $
1,295,166 966,920 ------2,262,086
United States Squash Racquets Association, Inc. Notes to Financial Statements June 30, 2013 and 2012 2012
Senior Endowment Fund Junior Endowment Fund Operations Junior Development Urban Squash Hall of Fame Hardball Capacity Building Olympic Fund
--450,000 33,333 14,702 3,941 18,042 96,800 35,000 651,818
Permanently Restricted $
1,294,237 966,920 -------2,261,157
Changes in endowment net assets for the years ended June 30, 2013 and 2012 are as follows: Temporarily Restricted July 1, 2011
Contributions Interest and dividend income Unrealized gain Appropriated for expenditure
June 30, 2012
June 30, 2013
2,260,398 759 46,650 42,961 (89,611)
Contributions Interest and dividend income Unrealized gain Appropriated for expenditure
929 53,204 126,079 (179,283) $
Subsequent Events The Association has evaluated subsequent events occurring after the statement of financial position through the date of October 11, 2013 which is the date the financial statements were available to be issued. Based on this evaluation, the Association has determined that no subsequent events have occurred, which require disclosure in the financial statements.
Fit For Life
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Published on May 23, 2014