2019 ANNUAL REPORT 18-SKI-0428 2019 AS Annual Report.indd 1 8/20/19 1:50 PM A MESSAGE FROM THE ADAPTIVE SPIRIT BOARD CHAIRPERSON “The Push Makes It Possible” was the theme for our and the movement. I am so proud to represent the U.S. in 24th Annual Event. We want to thank our sponsors and competition and this allows me to take similar pride as other attendees for “pushing hard” to make AS2019 a success. members of Team USA.” The athletes of the U.S. Paralympic Ski and Snowboard To get to this moment, it took the work of countless Team push hard all year to compete against the best in the people who feel passionate about the Paralympic movement world. including you! With years of supporting Adaptive Spirit And speaking of pushing, many of us have been pushing through attendance and sponsorship dollars, you sent a for years to make the Paralympics a more prominent part clear message: this movement matters. We always wanted of the U.S. Olympic Committee. At press time for this to make sure this event showcased the athletes but also report, the world learned the U.S. Olympic Committee gave you the opportunity to do some networking, business formally changed its name to the United States Olympic and continuing education at the same time. Now, you can and Paralympic look forward to seeing the new USOPC logos Committee at next year’s event! (USOPC)—a And speaking of next year, our sponsor change celebrating “I have personally felt packages are at an 82% sell out all Team USA the growing support including all platinum and gold. athletes including There are still silver and the Paralympic for Paralympic bronze packages as Movement. Oksana well as a number of Masters, four-time athletes and activities available. Paralympian, said And believe me, it best, “I have the movement.” you want to make personally felt the —Oksana Masters, sure you get your growing support for U.S. Paralympian, first choice and Paralympic athletes Nordic Team hold the dates for AS2020 (April 2-5) where we will commemorate our 25th anniversary! We have some big plans to “shake up” the event and we want you there to help us celebrate! Thanks for everything you do to support our industry and Team USA. Steve Raymond Board Chair, Adaptive Spirit 2 18-SKI-0428 2019 AS Annual Report.indd 2 8/20/19 1:50 PM FINANCIAL OVERVIEW Sources of Funds Summary In the organization’s eighth year as a standalone entity, we continue to serve as a great networking and educational resource for the telecommunications industry. The 24th Annual Event generated gross revenue of over 1.4 million dollars. After paying event expenses, the board approved a donation of 2019 Annual Event $1,490,625–95.0% $500,000 to the U.S. Olympic Committee to benefit the U.S. Paralympic Membership dues $56,000–3.6% Ski and Snowboard Team for its 2019-2020 season. Additional donations Educational events $20,000–1.3% for special initiatives for the team may be approved during the upcoming Other $1,930–0.1% fiscal year based on requests and needs. During the event, the silent auction, Box O’ Money raffle and other Adaptive Spirit Athlete Partnership (ASAP) funding efforts grossed $126,662. (Most of the revenue and expenses are not reflected within the Adaptive Spirit financial records as No Excuses Unlimited receives and disburses the associated dollars.) These funds are used to support the ASAP (administered by No Excuses Unlimited) and benefit the team’s Use of athletes on an individual basis. In addition, the Adaptive Spirit board Funds approved a donation of $81,000 to No Excuses Unlimited to provide incremental dollars to the program. One part of Adaptive Spirit’s financial plan is to maintain an investment account creating a “safety net” in the event additional team donations or unexpected expenses are incurred. In 2016, the board chose to relocate its investment funds to Charles Schwab Corporation to take advantage of lower investment expenses and a more closely managed approach. At the end of the fiscal year, due to a more favorable market, the managed asset Charitable donations $774,000–52.6% portfolio value increased 5.83% since inception. 2019 Annual Event $679,186–46.1% Organization $11,448 – 0.8% Educational events $8,087–0.5% “Opportunity to build strong business relationships, while at the same time supporting a great cause… Everybody wins!”* *Source: 2019 Attendee Survey conducted by Horowitz Research, the official research provider of Adaptive Spirit 3 18-SKI-0428 2019 AS Annual Report.indd 3 8/20/19 1:50 PM Statement of Statement of Activities Financial Position July 1, 2018 to June 30, 2019 (in thousands, unaudited) June 30, 2019 Revenue Sources Charitable Donations (in thousands, unaudited) 2019 Annual Event $1,490.6 Athlete Partner Assets Program $81.0 Membership Dues $56.0 Cash and Cash Empire State Games $7.0 Equivalents $656.9 Educational Events $20.0 U.S. Paralympics $686.0 Schwab $266.1 Other $1.9 $774.0 Deposits Asset $2.0 $1,568.5 Contracts Asset $11.3 Gain from Expenses Promotional operations $95.7 Assets $2.8 2019 Annual Event $679.2 $939.1 Organization $11.5 In-kind services value received $92.4 Educational Events $8.1 $698.8 Donations to the U.S. Paralympic Ski Team $782,000 $732,000 $686,000 $627,000 $601,770 $600,000 $540,000 $520,689 $506,171 $500,000 $500,000 $463,400 $455,469 $414,010 $410,000 $365,595 $350,000 $ 327, 29 5 $310,000 $290,000 $171,600 $268,400 $130,000 $100,000 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 4 18-SKI-0428 2019 AS Annual Report.indd 4 8/20/19 1:50 PM 2018–2019 YEAR IN REVIEW 24th Annual Event Director, Telecommunications Strategy & Operations, Deloitte. Each panelist shared thoughts on the anticipated An annual networking and educational event hosted by roll out of 5G technology—a huge part of IoT, autonomous Adaptive Spirit, this three-day happening brings together vehicles and mobile media. They also disclosed how their telecom industry executives and their families from all over companies are preparing for this and other disruptive the country. It is widely recognized as one of the industry’s technologies and the massive changes this technology will top-ranked networking opportunities. Thanks to industry present. support, this annual event brings Adaptive Spirit members together to continue our mission to expand and build up Brain Trust Breakfast the telecommunications business. All funds remaining after The Brain Trust Breakfast is always a hit with attendees expenses are distributed to a charitable organization. In due to its unique premise: not a panel in a large venue but 2019, Adaptive Spirit once again chose the U.S. Paralympic an intimate space where attendees have the opportunity Ski and Snowboard Team as the recipient of the majority of to connect with the host in their room. Adaptive Spirit those funds. The 24th Annual Event hosted 1,167 registrants members are able to ask questions of top decision-makers, and 145 industry companies were represented. Educational Panel In what is becoming a key draw to the Annual Event, the Educational Panel kicks off the weekend with a spirited and informative discussion on topics at the forefront of telecom’s competitive landscape. This year’s panel was dedicated to differing industry opinions about what it means to be disruptive in the marketplace. Moderated by long time industry reporter and Light Reading Senior Editor, Jeff Baumgartner, this panel attempted to take a futuristic view of market “disruption” and how operating in that manner technology suppliers and industry innovators and share ideas in an intimate setting. This year’s hosts were: Danny Bowman, Chief Mobile Officer, Charter; Kristine Faulkner, SVP Marketing Operations, Cox; Julie Laulis, CEO, Cable ONE; Elena Ritchie, GVP Content Management and Strategy, Charter; and, Roger Seiken, SVP Programming, WOW! AS Connections One of our event’s first-time sponsors, Metrological brought a new spin to this event. This networking activity (formerly created as B2B Après Ski), AS Connections offers industry members the chance to unwind and mingle after a busy Day can build your business. The panelists came from a variety Two. Metrological added a special experience to the activity of telecom companies, each giving their own spin on the with a rum tasting presented by Parce Rum. This “something topic. Joining the panel were Danny Bowman, Chief Mobile extra” added to the networking experience as colleagues Officer, Charter; Jeff Lewis, VP Connectivity & Managed were able to discuss topics such as: Solutions, Comcast Business; Bruce McClelland, CEO, ﹥ Challenges of integrating OTT content into current linear ARRIS (now CommScope); and Phil Wilson, Managing product and how to overcome them 5 18-SKI-0428 2019 AS Annual Report.indd 5 8/20/19 1:50 PM ﹥ Content your customer watches which you don’t provide also the time to celebrate our athletes, thank our sponsors ﹥ How to shrink the EPG without shrinking the available and solidify commitments for the next year. At the 2019 content Banquet, we were honored to welcome Tanith White as the ﹥ The art of surfacing content for your customers emcee. White, a two-time Olympian and silver medalist in In the past few years, the AS Connections event has become ice dancing, also served as a sports deck reporter for NBC’s a mainstay of Adaptive Spirit, putting operators and vendors coverage of the 2018 Paralympic Games in PyeongChang.