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U BADMINTON 
Financial Statements & 
Supplemental Schedules 
For the Year Ended December 31, 2009 

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TABLE OF CONTENTS 
Independent Auditors' Report . . . . . . . . . . . . . . . . . 1 
Statement of Financial Position . . . . . . . . . . . . . . . 2 
Statement of Activities and Changes in Net Assets . . . . . . 3 
Statement of Cash Flows . . . . . . . . . . . . . . . . . . . 4 
Notes to Financial Statements . . . . . . . . . . . . . . . . 5 
Schedule of Program Services . . . . . . . . . . . . . . . . 12 
Schedule of Supporting Services . . . . . . . . . . . . . . . 13 

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1365 Garden of the Gods Road, Suite 105 • Colorado Springs, CO 80907 • (719) 590-9777 • Fax: (719) 590-7689 • www.waughgoodwinllp.com 
INDEPENDENT AUDITORS' REPORT 
To the Board of Directors 
USA Badminton 
Colorado Springs, Colorado 
We have audited the accompanying statement of financial position of 
USA Badminton (a nonprofit organization) as of December 31, 2009, 
and the related statements of activities and changes in net assets 
and cash flows for the year then ended. These financial statements 
are the responsibility of the Corporation's management. Our 
responsibility is to express an opinion on these financial 
statements based on our audit. The prior year summarized 
comparative information has been derived from the Corporation's 
December 31, 2008 financial statements and, in our report dated 
April 13, 2009, we expressed an unqualified opinion on those 
financial statements. 
We conducted our audit in accordance with auditing standards 
generally accepted in the United States of America. Those 
standards require that we plan and perform the audit to obtain 
reasonable assurance about whether the financial statements are 
free of material misstatement. An audit includes examining, on a 
test basis, evidence supporting the amounts and disclosures in the 
financial statements. An audit also includes assessing the 
accounting principles used and significant estimates made by 
management, as well as evaluating the overall financial statement 
presentation. We believe that our audit provides a reasonable 
basis for our opinion. 
In our opinion, the financial statements referred to above present 
fairly, in all material respects, the financial position of USA 
Badminton as of December 31, 2009, and the changes in its net 
assets and its cash flows for the year then ended in conformity 
with accounting principles generally accepted in the United States 
of America. 
Our audit was made for the purpose of forming an opinion on the 
basic financial statements taken as a whole. The supplemental 
schedules of program services and of supporting services for the 
year ended December 31, 2009 are presented for purposes of 
additional analysis and are not a required part of the basic 
financial statements. Such information has been subjected to the 
auditing procedures applied in the audit of the basic financial 
statements and, in our opinion, is fairly stated in all material 
respects in relation to the basic financial statements taken as a 
whole. 
Waugh & Goodwin, LLP 
March 29, 2010 
2009 2008 
CURRENT ASSETS: 
Cash and cash equivalents $ 185,012 $ 187,091 
Accounts receivable 1,864 11,623 
Inventory 736 775 
Prepaid expenses 15,262 9,610 
Total current assets 202,874 209,099 
INVESTMENTS (Note B) 29,188 29,175 
EQUIPMENT, at cost: 
Office furniture and equipment 22,963 15,899 
Perpetual trophies 34,336 34,336 
Less accumulated depreciation (50,782) (50,063) 
Furniture and equipment - net 6,517 172 
TOTAL ASSETS $ 238,579 $ 238,446 
CURRENT LIABILITIES: 
Accounts payable $ 2,307 $ 9,886 
Accrued liabilities 22,260 4,293 
Current portion of deferred revenue 
(Note E) 42,918 30,923 
Total current liabilities 67,485 45,102 
LONG-TERM LIABILITIES: 
Deferred revenue (Note E) 23,213 26,313 
Total liabilities 90,698 71,415 
NET ASSETS: 
Unrestricted 140,275 160,025 
Temporarily restricted (Note C) 7,606 7,006 
Total net assets 147,881 167,031 
TOTAL LIABILITIES AND NET ASSETS $ 238,579 $ 238,446 
ASSETS 
LIABILITIES AND NET ASSETS 
USA BADMINTON 
Statement of Financial Position 
December 31, 2009 
(With Comparative Amounts for 2008) 
See Notes to Financial Statements 
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Temporarily 2009 2008 
Unrestricted Restricted Totals Totals 
(With Comparative Amounts for 2008) 
USA BADMINTON 
Statement of Activities and Changes in Net Assets 
For the Year Ended December, 31 2009 
Unrestricted Restricted Totals Totals 
REVENUE: 
USOC grants (Note D) $ 151,346 $ $ 151,346 $ 99,067 
USOC content license 
agreement (Note D) 75,000 75,000 97,000 
Membership dues 58,009 58,009 60,936 
Contributions 17,126 600 17,726 23,444 
Value-in-kind support 11,208 11,208 12,000 
Miscellaneous 4,282 4,282 7,112 
Sanction fees 3,780 3,780 6,040 
National bid fees 4,500 
Investment income 
(Note B) 3,088 3,088 4,337 
Tournament/coaching 
fees 2,460 2,460 9,475 
Retail sales 1,446 1,446 3,693 
Less cost of goods 
sold (482) ( 482) (2,548) 
Total revenue 327,263 600 327,863 325,056 
EXPENSES: 
Program services: 
Elite athletes & 
coaching 194,267 194,267 144,913 
Membership 43,049 43,049 47,568 
Athlete development 29,060 29,060 27,979 
Total program 
services 266,376 266,376 220,460 
Supporting services: 
General and 
administrative 80,637 80,637 80,820 
Total supporting 
services 80,637 80,637 80,820 
Total expenses 347,013 347,013 301,280 
CHANGE IN NET ASSETS (19,750) 600 (19,150) 23,776 
NET ASSETS, 
beginning of year 160,025 7,006 167,031 143,255 
NET ASSETS, 
end of year $ 140,275 $ 7,606 $ 147,881 $ 167,031 
See Notes to Financial Statements 
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2009 2008 
CASH FLOWS FROM OPERATING ACTIVITIES: 
Change in net assets $ (19,150) $ 23,776 
Adjustments to reconcile change in 
net assets to net cash provided 
by operating activities: 
Depreciation 719 2,455 
Realized loss on securities 227 
Unrealized gain on securities (25) 
Changes in assets and liabilities: 
Decrease in accounts receivable 9,759 (8,255) 
Decrease in inventory 39 680 
Increase prepaid expenses (5,652) 3,858 
Decrease in accounts payable (7,579) 867 
Increase in accrued liabilities 17,967 100 
Increase in deferred revenue 8,895 (3,077) 
Total adjustments 24,123 (3,145) 
Net cash provided by 
operating activities 4,973 20,631 
CASH FLOWS FROM INVESTING ACTIVITIES: 
Acquisition of equipment (7,065) 
Purchase of investments 13 (454) 
Net cash used by 
investing activities (7,052) (454) 
NET INCREASE (DECREASE) IN CASH (2,079) 20,177 
CASH AND CASH EQUIVALENTS, 
beginning of year 187,091 166,914 
CASH AND CASH EQUIVALENTS, 
end of year $ 185,012 $ 187,091 
(With Comparative Amounts for 2008) 
For the Year Ended December 31, 2009 
Statement of Cash Flows 
USA BADMINTON 
See Notes to Financial Statements 
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USA BADMINTON 
Notes to Financial Statements 
For the Year Ended December 31, 2009 
A. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
Organization 
USA Badminton (the Corporation) is the national governing body 
for the sport of badminton, making it responsible for the 
promotion and development of the sport in the United States. 
Effective January 1, 2003 the Corporation incorporated in the 
state of Colorado under the name USA Badminton. 
Income Taxes 
The Corporation is an organization which is exempt from federal 
income taxes under Section 501(c)(3) of the Internal Revenue 
Code of 1986. The Corporation qualifies for charitable 
contribution deductions and is not a private foundation. 
Income from certain activities not directly related to the 
Corporation's tax-exempt purpose is subject to taxation as 
unrelated business income. 
In June 2006, the Financial Accounting Standards Board (FASB) 
issued FASB Interpretation No. 48, "Accounting for Uncertainty 
in Income Taxes," an Interpretation of FASB Statement No. 109 
(FIN 48), that clarifies the accounting and recognition for 
income tax positions taken or expected to be taken in the 
Corporation's income tax returns. The revised effective date 
for FIN 48 is years beginning after December 15, 2008; 
accordingly, the Corporation adopted the standard effective 
January 1, 2009. 
The Corporation's income tax filings are subject to audit by 
various taxing authorities. The Corporation's open audit 
periods are 2005 – 2008. The Corporation believes that its 
operations have been conducted in accordance with its taxexempt 
status. 
Cash and Cash Equivalents 
Cash and cash equivalents consist of cash in the Corporation's 
checking and money market accounts. 

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Notes to Financial Statements 
A. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 
Inventories 
Inventories are stated at the lower of cost (first-in, firstout 
method) or market and consist of the following at December 
31, 2009 and 2008: 
2009 2008 
Videos $ 540 $ 508 
Special items 196 267 
$ 736 $ 775 
Prior-Year Comparisons 
The financial statements include certain prior-year summarized 
comparative information in total but not by net asset or 
functional expense class. Such information does not include 
sufficient detail to constitute a presentation in conformity 
with accounting principles generally accepted in the United 
States of America. Accordingly, such information should be 
read in conjunction with the Corporation's financial statements 
for the year ended December 31, 2008 from which the summarized 
information was derived. 
Accounts Receivable 
Accounts receivable are stated at the amount the Corporation 
expects to collect from balances outstanding at year-end. 
Based on the Corporation's experience with individuals and 
entities having outstanding balances, it has concluded that any 
losses on balances outstanding at year-end will not be 
material. Therefore, no allowance for doubtful accounts is 
considered necessary. 
Depreciation 
Assets are recorded at cost or fair market value if donated and 
depreciated using the straight-line method over estimated 
useful lives of five to seven years. Depreciation expense for 
each of the years ended December 31, 2009 and 2008 was $719. 

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Notes to Financial Statements 
A. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 
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. This will affect the reported amounts of assets 
and liabilities, 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 these estimates. 
Donated Services 
Inasmuch as an objective basis is not available to measure the 
value of donated services, none have been included in the 
accompanying statements; however, a substantial number of 
volunteers have donated time to the Corporation. 
Contributions 
Gifts of cash and other assets are reported as restricted 
support if they are received with donor stipulations that limit 
the use of donated assets. When a restriction expires, that 
is, when a stipulated time restriction ends or a purpose 
restriction is accomplished, temporarily restricted net assets 
are reclassified to unrestricted net assets and reported in the 
statement of activities as net assets released from 
restrictions. 
Functional Allocation of Expenses 
Certain costs and expenses are allocated among the various 
programs and supporting service expenses based on salary and 
related expenses. 
Date of Management's Review 
In preparing the financial statements, the Corporation has 
evaluated events and transactions for potential recognition or 
disclosure through March 29, 2010, the date that the financial 
statements were available to be issued. 
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Notes to Financial Statements 
B. FAIR VALUE MEASUREMENTS 
The Corporation applies Generally Accepted Accounting 
Principles (GAAP) for fair value measurements of financial 
assets that are recognized or disclosed at fair value in the 
financial statements on a recurring basis. GAAP establishes a 
fair value hierarchy that prioritizes the inputs to valuation 
techniques used to measure fair value. The hierarchy gives the 
highest priority to unadjusted quoted prices in active markets 
for identical assets or liabilities (Level 1 measurements) and 
the lowest priority to measurements involving significant 
unobservable inputs (Level 3 measurements). The three levels 
of fair value hierarchy are as follows: 
• Level 1 inputs are quoted prices (unadjusted) in active 
markets for identical assets or liabilities that the 
Corporation has the ability to access at the measurement 
date. 
• Level 2 inputs are inputs other than quoted prices 
included within Level 1 that are observable for the asset 
or liability, either directly or indirectly. 
• Level 3 inputs are unobservable inputs for the asset or 
liability. 
The level in the fair value hierarchy within which a fair 
measurement in its entirety falls is based on the lowest level 
input that is significant to the fair value measurement in its 
entirety. 
The following tables present assets that are measured at fair 
value on a recurring basis at December 31, 2009 and 2008: 
Assets at Fair Value as of December 31, 2009 
Level 1 Level 2 Level 3 Total - 
Equities $ 377 $ $ $ 377 
Money market 28,811 28,811 
$ 29,188 $ 0 $ 0 $ 29,188 
Assets at Fair Value as of December 31, 2008 
Level 1 Level 2 Level 3 Total - 
Equities $ 352 $ $ $ 352 
Money market 28,823 28,823 
$ 29,175 $ 0 $ 0 $ 29,175 

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Notes to Financial Statements 
B. FAIR VALUE MEASUREMENTS – Continued 
Investment income consists of the following components for the 
years ended December 31, 2009 and 2008: 
2009 2008 
Interest & dividends $ 3,063 $ 4,564 
Unrealized gain (loss) on securities 25 (227) 
$ 3,088 $ 4,337 
C. TEMPORARILY RESTRICTED NET ASSETS 
Temporarily restricted net assets consist of the following at 
December 31, 2009 and 2008: 
2009 2008 
Walk of Fame $ 2,462 $ 1,862 
Camps 5,144 5,144 
$ 7,606 $ 7,006 
Net assets are released from donor restrictions by incurring 
expenses that satisfy the restricted purpose. During the year 
ended December 31, 2009, net assets were released from 
restrictions by satisfying the following purposes: 
2009 2008 
Walk of Fame $ 0 $ 5,178 
D. RELATED PARTY TRANSACTIONS 
The United States Olympic Committee (USOC) provides grants to 
the Corporation for sports development, international 
competition, and team preparation. Grants provided during the 
years ended December 31, 2009 and 2008 consisted of the 
following project categories: 
2009 2008 
NGB funding $ 142,362 $ 94,000 
Value-in-kind 8,984 5,067 
$ 151,346 $ 99,067 
The USOC provides the Corporation with a portion of its office 
facilities at no cost, which has been valued at $11,208 and 
recorded in the financial statements. Rent paid to the USOC 
for the years ended December 31, 2009 and 2008 amounted to $126 
per month. 
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Notes to Financial Statements 
D. RELATED PARTY TRANSACTIONS - Continued 
In 2007 the Corporation entered into a content license 
agreement with the USOC. The term of the agreement is July 1, 
2007 through December 31, 2012. The Corporation received 
$72,000 and $75,000 in licensing fees for the years ended 
December 31, 2009 and 2008 and a $25,000 bonus for the year 
ended December 31, 2008. 
During the year ended December 31, 2008, a payment totaling 
$11,506 was made to K & D Graphics, an entity owned by two 
former Board members. K & D Graphics then donated $11,506 back 
to the Corporation in 2008. This amount is included in 
contributions in the accompanying statement of activities. 
E. DEFERRED REVENUE 
Membership dues received for three and five-year memberships 
are deferred and recognized as revenue over the corresponding 
period of the membership. Dues for life memberships are 
deferred and recognized as revenue over a 20 year period. The 
Corporation recognizes bid fees as revenue when earned. 
Deferred revenue consists of the following at December 31, 2009 
and 2008: 
2009 2008 
Regular memberships $ 23,457 $ 18,589 
Lifetime memberships 22,802 23,399 
Bid fees 9,080 
Five-year memberships 6,150 7,558 
Three-year memberships 4,642 6,790 
Other 900 
$ 66,131 $ 57,236 
F. OPERATING LEASES 
The Corporation leases storage space on a month-to-month basis. 
Rent expense under this lease amounted to $1,200 for each of 
the years ended December 31, 2009 and 2008. 
G. RETIREMENT PLAN 
The Corporation established a salary reduction retirement plan 
for its employees in January 2004 pursuant to Section 403(b) of 
the Internal Revenue Code. USA Badminton does not match 
voluntary contributions of its employees. 

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Notes to Financial Statements 
H. EMPLOYMENT CONTRACT 
In April 2009, the Corporation entered into a three-year 
employment agreement with its Chief Executive Officer. Under 
the terms of the agreement, if the employee is terminated for 
any reason other than gross misconduct, the Corporation will 
make a severance payment equal to one month's salary for each 
year of employment. 

Elite Total 
Athletes & Athlete Program 
Coaching Membership Development Services 
Awards & grants $ $ 95 $ $ 95 
Coaching miscellaneous 11,026 11,026 
Development/training 191 985 1,176 
Events 7,693 7,693 
Insurance 14,385 14,385 
Membership services 5,416 5,416 
Miscellaneous expense 1,761 97 1,858 
Postage & shipping 258 552 810 
Printing 324 324 
Professional services 11,700 11,700 
Salaries, benefits & payroll taxes 120,637 20,375 28,867 169,879 
Sanction refund 192 672 96 960 
Shipping, phones, supplies 147 147 
Telephone 222 222 
Travel, lodging & meals 40,662 23 40,685 
$ 194,267 $ 43,049 $ 29,060 $ 266,376 
USA BADMINTON 
Schedule of Program Services 
For the Year Ended December 31, 2009 
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Total 
National Board of Supporting 
Office Directors Services 
Accounting fees $ 5,378 $ $ 5,378 
Bank fees 1,074 1,074 
Conferences & meetings 814 814 
Depreciation 719 719 
Dues & publications 979 979 
Equipment 1,219 1,219 
Equipment maintenance 1,061 1,061 
Insurance 3,007 7,346 10,353 
Investment fees 75 75 
Legal fees 17,359 17,359 
Miscellaneous 561 1,763 2,324 
Office supplies 6,134 6,134 
Payroll processing 1,713 1,713 
Rent 12,720 12,720 
Salaries & payroll taxes 14,215 14,215 
Shipping/postage 1,793 1,793 
Software 367 367 
Storage rent expense 1,200 1,200 
Telephone & pagers 329 33 362 
Travel 178 600 778 
$ 70,081 $ 10,556 $ 80,637 
USA BADMINTON 
Schedule of Supporting Services 
For the Year Ended December 31, 2009 
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