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Nonprofiteer
← BGC PHILLY PACESETTERS INC

Form 990 for tax year 2022

Filed by BGC PHILLY PACESETTERS INC.

Totals

Total revenue
$435,698
Total expenses
$513,713
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$435,698
Total assets, end of year
$12,258,615
Total liabilities, end of year
$12,770,205
Net assets or fund balances, end of year
-$511,590
Program services expenses (Part IX)
$461,700
Management and general expenses
$52,013
Fundraising expenses
$0
Program service expenses (Part III)
$461,700

Program services were 89.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 6a · Gross rents

    real property $435,698

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $435,698

  • 6d · Net rental income or loss

    total $435,698 · related or exempt $435,698

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $52,000 · management and general $52,000

  • 11c · Fees: accounting

    total $13 · management and general $13

  • 20 · Interest

    total $113,050 · program services $113,050

  • 22 · Depreciation, depletion and amortization

    total $348,650 · program services $348,650

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $269,222 · end of year $168,387

  • 4 · Accounts receivable

    beginning of year $0 · end of year $301,698

  • 10a · Land, buildings and equipment: cost or other basis

    $12,377,118

  • 10b · Land, buildings and equipment: accumulated depreciation

    $588,588

  • 10c · Land, buildings and equipment, net

    beginning of year $12,123,163 · end of year $11,788,530

  • 23 · Secured mortgages and notes payable

    beginning of year $9,333,531 · end of year $9,348,946

  • 25 · Other liabilities

    beginning of year $3,492,429 · end of year $3,421,259

  • 27 · Net assets without donor restrictions

    beginning of year -$433,575 · end of year -$511,590

Mission and programs · 2022

Mission

BGC PHILLY PACESETTERS, INC. WAS ORGANIZED AS A SUPPORTING ORGANIZATION TO BOYS AND GIRLS CLUBS OF PHILADELPHIA, INC. ("BGCP") TO FACILITATE THE RENOVATION OF THE RALPH J. ROBERTS BOYS & GIRLS CLUB FACILITY.

  • BGC PHILLY PACESETTERS, INC. WAS ORGANIZED AS A SUPPORTING ORGANIZATION TO BOYS AND GIRLS CLUBS OF PHILADELPHIA, INC. ("BGCP") TO FACILITATE THE RENOVATION OF THE RALPH J. ROBERTS BOYS & GIRLS CLUB FACILITY (REFERRED TO AS THE "FACILITY OR THE "GERMANTOWN CLUB"). BOTH THE BOARDS OF BGCP AND BGC PHILLY PACESETTERS APPROVED RESOLUTIONS CONCERNING THE FINANCING AND RELATED TRANSACTIONS. AS A SUPPORTING ORGANIZATION TO BGCP, BGC PHILLY PACESETTERS' ACTIVITIES WILL INVOLVE FACILITATING AND HELPING TO FUND THE RENOVATION OF THE FACILITY AND LEASING THE RENOVATED FACILITY BACK TO BGCP.

    Expenses $461,700 · Revenue $435,698

As filed on the 2022 return.

Listed in Part VII

  • Greg Webster

    DIRECTOR AND VICE PRESIDEN

    Total calculated
    $0
    Hours/week
    2

  • David Woolf

    DIRECTOR AND TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Clare McGrory Kelly

    DIRECTOR AND SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Bruce McKenney

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2

  • Tom Hoffman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Joseph Marziello

    PRESIDENT AND CEO

    Total calculated
    $263,475
    From this org
    $0
    From related orgs
    $230,000
    Other
    $33,475
    Hours/week
    15 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $230,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,000 related
    Nontaxable benefits
    $0 + $10,475 related
    Filer's total
    $0 + $263,475 related

  • Lisabeth Marziello

    PRESIDENT AND CEO

    Total calculated
    $276,547
    From this org
    $0
    From related orgs
    $230,000
    Other
    $46,547
    Hours/week
    15 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $230,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,000 related
    Nontaxable benefits
    $0 + $23,547 related
    Filer's total
    $0 + $276,547 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
3 May 2024
IRS schema version
2022v5.0
Source object
202411289349302906

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