USA Basketball is a non-profit organization and the governing body for basketball in the United States. The organization represents the United States in FIBA and the men's and women's national basketball teams in the United States Olympic Committee. Its Chairman of the Board is Jerry Colangelo and its executive director is Jim Tooley. The organization was founded in 1974 as the Amateur Basketball Association of the United States of America. It was renamed to USA Basketball on October 12, 1989, after FIBA modified its rules to allow professional basketball players to compete in international competitions. USA Basketball is responsible for the selection and training of the men's and women's teams that represent the United States in international tournaments, including the FIBA Basketball World Cup for men, FIBA World Championship for Women, Games of the Olympiad and the men's and women's qualifiers therefor, as well as for the promotion of the sport amongst prospective players, spectators, and fans.