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Nonprofiteer
← Greater Burlington YMCA Foundation Inc (6663-SO1)

Form 990 for tax year 2024

Filed by Greater Burlington YMCA Foundation Inc (6663-SO1).

Totals

Total revenue
$305,141
Total expenses
$942,545
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$28,141
Other revenue
$277,000
Total assets, end of year
$23,143,361
Total liabilities, end of year
$26,512,021
Net assets or fund balances, end of year
-$3,368,660
Program services expenses (Part IX)
$547,832
Management and general expenses
$392,565
Fundraising expenses
$2,148
Program service expenses (Part III)
$547,832

Program services were 58.1% 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.

  • 3 · Investment income

    total $28,141 · excluded $28,141

  • 6a · Gross rents

    real property $277,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $277,000

  • 6d · Net rental income or loss

    total $277,000 · related or exempt $277,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $1,600 · management and general $1,600

  • 20 · Interest

    total $239,780 · management and general $239,780

  • 22 · Depreciation, depletion and amortization

    total $591,873 · program services $547,832 · management and general $41,893 · fundraising $2,148

  • 24a · Other expenses: BANK FEES

    total $109,292 · management and general $109,292

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $442,222 · end of year $419,684

  • 2 · Savings and temporary cash investments

    beginning of year $343,087 · end of year $253,651

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

    $25,429,201

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

    $2,959,175

  • 10c · Land, buildings and equipment, net

    beginning of year $23,061,899 · end of year $22,470,026

  • 23 · Secured mortgages and notes payable

    beginning of year $23,902,950 · end of year $23,902,950

  • 25 · Other liabilities

    beginning of year $2,675,514 · end of year $2,609,071

  • 27 · Net assets without donor restrictions

    beginning of year -$2,731,256 · end of year -$3,368,660

Mission and programs · 2024

Mission

THE MISSION OF THE ORGANIZATION IS TO SUPPORT THE GREATER BURLINGTON YMCA IN ALL WAYS POSSIBLE. THIS INCLUDES THE PURCHASE OF PROPERTY AND LEASE OF THAT PROPERTY TO THE GREATER BURLINGTON YMCA.

Activities or mission (Part I)

SUPPORT THE GREATER BURLINGTON YMCA INCLUDING LEASING OF PROPERTY TO THE GBYMCA.

  • THE GREATER BURLINGTON YMCA FOUNDATION (GBYMCAF) IS A SUPPORTING ORGANIZATION OF THE GREATER BURLINGTON YMCA (GBYMCA) WHOSE MISSION IS TO "BUILD A STRONG COMMUNITY BY INVOLVING YOUTHS, ADULTS, AND FAMILIES IN PROGRAMS AND ACTIVITIES THAT DEVELOP SPIRIT, MIND, AND BODY." GBYMCAF RECEIVED A TRANSFER OF REAL PROPERTY FROM THE GBYMCA IN 2015 AND SECURED 'NEW MARKETS TAX CREDIT' FINANCING IN DECEMBER 2018 FOR CONSTRUCTION OF A NEW FACILITY AT 298 COLLEGE STREET. CONSTRUCTION BEGAN IN OCTOBER 2018 AND WAS COMPLETED ON JANUARY 2, 2020.

    Expenses $547,832 · Revenue $277,000

As filed on the 2024 return.

Listed in Part VII

  • Kyle Dodson

    PRESIDENT (THRU 1/24)

    Total calculated
    $158,191
    From this org
    $0
    From related orgs
    $157,650
    Other
    $541
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $19,517 related
    Bonus
    $0
    Other
    $0 + $138,133 related
    Deferred
    $0 + $541 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $158,191 related

  • Marsha Faryniarz

    INTERIM PRESIDENT (2/24 - 11/24)

    Total calculated
    $212,968
    From this org
    $0
    From related orgs
    $209,035
    Other
    $3,933
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $209,035 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,933 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $212,968 related

  • Daniel Smith

    PRESIDENT (START 12/24)

    Total calculated
    $33,230
    From this org
    $0
    From related orgs
    $33,230
    Other
    $0
    Hours/week
    1 + 39 related

  • Lisa Ventriss

    DIRECTOR (END 03/24)

    Total calculated
    $0
    Hours/week
    1

  • Penrose Jackson

    DIRECTOR (END (03/24)

    Total calculated
    $0
    Hours/week
    1

  • Renee Bourget-Place

    DIRECTOR (START 03/24)

    Total calculated
    $0
    Hours/week
    1

  • Katie Hawley

    DIRECTOR (START 03/24)

    Total calculated
    $0
    Hours/week
    1

  • Phil Daniels

    DIRECTOR (START 03/24)

    Total calculated
    $0
    Hours/week
    1

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

  • 4a · Severance or change-of-control payment

Answered no

  • 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

The filer's explanations (Part III)

PART I, LINE 3
TOP MANAGEMENT OFFICIAL IS COMPENSATED BY A RELATED ORGANIZATION DETERMINED AS FOLLOWS: Y-USA RELEASES GUIDELINES EACH YEAR WHICH LIST A SALARY RANGE SUGGESTION FOR TOP MANAGEMENT OFFICIALS BASED ON ORGANIZATION SIZE AND OTHER RELATED FACTORS. ADDITIONALLY, A COMPENSATION STUDY USING THE HAY SCALE WAS CONDUCTED FOR THE ROLE AND THE RANGE WAS VERIFIED IN AGREEMENT WITH THE Y-USA SALARY RANGE SUGGESTIONS. THE EXECUTIVE COMMITTEE AND BOARD REVIEWS THE STRATEGIC PLAN, ORGANIZATION ASSESSMENT AND NEEDS OF THE ORGANIZATION TO SET GOALS FOR THE TOP MANAGEMENT OFFICIAL AND DETERMINE AN ANNUAL SALARY WITHIN THE RANGE PROVIDED, BASED ON GOALS AND PERFORMANCE.
PART I, LINE 4A
KYLE DODSON RECEIVED A SEVERANCE PAYMENT OF $138,133 IN 2024 FROM A RELATED ORGANIZATION.

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
2024
Filed
3 June 2025
IRS schema version
2024v5.1
Source object
202531609349300513

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