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

Form 990 for tax year 2023

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

Totals

Total revenue
$299,943
Total expenses
$973,483
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$22,943
Other revenue
$277,000
Total assets, end of year
$23,847,208
Total liabilities, end of year
$26,578,464
Net assets or fund balances, end of year
-$2,731,256
Program services expenses (Part IX)
$547,833
Management and general expenses
$423,502
Fundraising expenses
$2,148
Program service expenses (Part III)
$547,833

Program services were 56.3% 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 $22,943 · excluded $22,943

  • 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.

  • 20 · Interest

    total $243,255 · management and general $243,255

  • 22 · Depreciation, depletion and amortization

    total $591,874 · program services $547,833 · management and general $41,893 · fundraising $2,148

  • 24a · Other expenses: BANK FEES

    total $138,354 · management and general $138,354

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $344,744 · end of year $442,222

  • 2 · Savings and temporary cash investments

    beginning of year $475,144 · end of year $343,087

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

    $25,429,201

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

    $2,367,302

  • 10c · Land, buildings and equipment, net

    beginning of year $23,653,686 · end of year $23,061,899

  • 23 · Secured mortgages and notes payable

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

  • 25 · Other liabilities

    beginning of year $2,628,340 · end of year $2,675,514

  • 27 · Net assets without donor restrictions

    beginning of year -$2,057,716 · end of year -$2,731,256

Mission and programs · 2023

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 $547,833 · Revenue $277,000

As filed on the 2023 return.

Listed in Part VII

  • KYLE DODSON

    PRESIDENT

    Total calculated
    $182,959
    From this org
    $0
    From related orgs
    $177,753
    Other
    $5,206
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $177,753 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,698 related
    Nontaxable benefits
    $0 + $1,508 related
    Filer's total
    $0 + $182,959 related

  • LISA VENTRISS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PENROSE JACKSON

    DIRECTOR

    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

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
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202403139349300125

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