EXECUTIVE NOTES By Rich Bender, Executive Director


USA WRESTLING FINANCIAL UPDATE USA Wrestling’s Finance Committee in November 2010 reviewed and approved the audited financial statements for the fiscal year ended August 31, 2010. The highlights of the audited statements are as follows: The fiscal year ended with an increase in net assets of $139,846. This included total support and revenue of $8,830,433 and total expenses of $8,690,587. USA Wrestling has achieved these positive financial results in


the face of challenges such as the global economy, while con- tinuing to pursue its mission and provide programs for mem- bers. USA Wrestling has responsibly managed its budget, and exceeded the budgeted increase in net assets for fiscal year 2010. USA Wrestling continues to do more with the resources avail-


able. The Board of Directors, state leaders and national staff take great pride in providing tremendous value to our members. I would like to take this opportunity to inform our members


that the financial policies and procedures of USA Wrestling, as reviewed annually by our independent auditor, are set up to ensure the integrity of the numbers reported in our financial statements. Our financial statements are prepared in accor- dance with Generally Accepted Accounting Principles (GAAP) and the Financial Accounting Standards Board (FASB) rules. Our Finance Committee, consisting of the organization’s


Treasurer and six other members (of which four plus the Treasurer also serve on the Board of Directors), meets frequent- ly to review the internal financial statements and supporting financial information for each month. Committee members par- ticipated extensively during the conference call for the review of the fiscal year 2010 audited financial statements, questioning the independent auditor about procedures, policies, and internal controls the company has in effect, as well as the increasing numbers and areas of disclosures regarding non-profit gover- nance now required in the annual IRS Form 990. USA Wrestling believes in transparency and full disclosure regarding the organization’s financial information. If you have


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any questions regarding USA Wrestling’s finances, please feel free to contact me, or to contact Dwaine Cooper, the Associate Executive Director for Administration. Treasurer Van Stokes or any Finance Committee member would also be happy to answer any questions you may have. These results are the product of a team


effort by many people, including the Board of Directors, the State Chairpersons, the athletes and coaches, the many dedicated volunteers across the country, our spon- sors, and the USA Wrestling national staff. USA Wrestling con- tinues to be a very successful organization, and I am proud to serve as its Executive Director.


ACHIEVEMENTS TO REMEMBER FROM 2010 I’d like to share a few USA Wrestling achievements from the


past year which we are also proud of. Membership continues to grow, with new records for athletes,


clubs and sanctioned events… USA Wrestling set an all-time record for female athlete members… USA Wrestling created a Diversity Committee, which has already begun to advance many important projects… USA Wrestler magazine is now also pub- lished as a digital edition… U.S. FILA Bureau member Stan Dziedzic has been named FILA Vice President… USA Wrestling has hosted key FILA meetings… Liberty Mutual partnered with USA Wrestling with its Responsible Sports program… The Night of Champions fundraising event with USA Hockey was a big success… Women’s Team USA won two World medals and improved its World team finish to fifth… The Folkstyle Tour of America series has expanded to four events… Victoria Anthony won her second straight Junior World title… USA Wrestling has strengthened its position within the USOC… Expanded USA Wrestling webcast schedule and online video features garnered over 1.5 million views for the season… USA Wrestling set a number of entry records at its national events… USA Wrestling’s e-newsletter has been expanded and improved… Elena Pirozhkova and Ali Bernard won University World titles…


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