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Nonprofiteer
← U-TURN

Form 990 for tax year 2024

Filed by U-TURN.

Totals

Total revenue
$61,028
Total expenses
$836,926
Contributions and grants received
$0
Grants paid
$802,000
Program service revenue
$0
Investment income
$61,028
Other revenue
$0
Total assets, end of year
$1,352,558
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,352,558
Program services expenses (Part IX)
$813,990
Management and general expenses
$22,936
Fundraising expenses
$0
Program service expenses (Part III)
$813,990

Program services were 97.3% 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 $61,028 · excluded $61,028

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $802,000 · program services $802,000

  • 11b · Fees: legal

    total $5,303 · program services $2,652 · management and general $2,651

  • 11c · Fees: accounting

    total $15,793 · program services $7,897 · management and general $7,896

  • 14 · Information technology

    total $2,668 · program services $1,334 · management and general $1,334

  • 23 · Insurance

    total $9,249 · management and general $9,249

  • 24a · Other expenses: TAXES

    total $1,806 · management and general $1,806

  • 24b · Other expenses: MISCELLANEOUS

    total $107 · program services $107

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,174,326

  • 2 · Savings and temporary cash investments

    end of year $1,352,558

  • 27 · Net assets without donor restrictions

    beginning of year $2,174,326 · end of year $1,352,558

Mission and programs · 2024

Mission

U-TURN IS A COMMUNITY DEVOTED TO ELEVATING LIVES (THROUGH ATHLETICS, COMMUNITY PROGRAMMING, EVENTS AND NONPROFIT DEVELOPMENT). U-TURN ALSO PROVIDES OFFICE AND MEETING SPACE TO ORGANIZATIONS THAT ALIGNS WITH U-TURN'S CORE VALUES INCLUDING CHURCHES, PARA-CHURCH MINISTRIES AND FOR-PROFIT ORGANIZATIONS.

  • PRIOR TO THE YEAR ENDED JUNE 30, 2025, U-TURN OFFERED CONTINUOUS PROGRAMS, CLASSES AND ACTIVITIES ALONG WITH RELATIONSHIPS WITH ORGANIZATIONS SERVING THE GREATER METRO RICHMOND. U-TURN PARTNERED WITH NUMEROUS SPORTS AND COMMUNITY ORGANIZATIONS INCLUDING CHURCHES. THE U-TURN FACILITY OFFERED AN ENVIRONMENT WHERE ALL PROGRAMS, CLASSES AND ACTIVITIES ENCOURAGED FELLOWSHIP, INSPIRED LEADERSHIP, AND SPREAD HOPE FOR THE FUTURE OF YOUTH AND FAMILIES IN THE RICHMOND METRO AREA. DURING THE YEAR-ENDED JUNE 30, 2024, U-TURN BEGAN THE WINDING DOWN OF ITS AFFAIRS AND LIQUIDATION OF ITS NET ASSETS. U-TURN BEGAN THE PROCESS OF DISTRIBUTING IT'S NET ASSETS TO VARIOUS 501(C)(3) CHARITABLE ORGANIZATIONS.

    Expenses $813,990 · Grants $802,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • KEN LAMBIOTTE

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • KYLE SHERMAN

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • DANIEL PALAZZOLO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KEVIN SALMINEN

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • SIMEON HARRIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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.

Grants on this return

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2024
Filed
6 October 2025
IRS schema version
2024v5.2
Source object
202532799349301928

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