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Nonprofiteer
← SIXTH MAN CENTER INC

Form 990 for tax year 2024

Filed by SIXTH MAN CENTER INC.

Totals

Total revenue
$4,074,279
Total expenses
$1,131,804
Contributions and grants received
$3,952,496
Grants paid
$0
Program service revenue
$0
Investment income
$34
Other revenue
$121,749
Total assets, end of year
$41,677,468
Total liabilities, end of year
$28,711,469
Net assets or fund balances, end of year
$12,965,999
Program services expenses (Part IX)
$1,131,804
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,131,804

Program services were 100.0% 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.

  • 1d · Related organizations

    $3,952,496

  • 3 · Investment income

    total $34 · excluded $34

  • 6a · Gross rents

    real property $121,749

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $121,749

  • 6d · Net rental income or loss

    total $121,749 · related or exempt $121,749

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $4,072 · program services $4,072

  • 11c · Fees: accounting

    total $12,420 · program services $12,420

  • 11g · Fees: other

    total $115,997 · program services $115,997

  • 13 · Office expenses

    total $82,548 · program services $82,548

  • 20 · Interest

    total $284,912 · program services $284,912

  • 22 · Depreciation, depletion and amortization

    total $631,751 · program services $631,751

  • 23 · Insurance

    total $104 · program services $104

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $117,685 · end of year $10,762

  • 2 · Savings and temporary cash investments

    beginning of year $373,629 · end of year $296,244

  • 3 · Pledges and grants receivable

    beginning of year $1,000,000 · end of year $0

  • 4 · Accounts receivable

    end of year $5,206

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $89,910

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

    $41,633,222

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

    $631,751

  • 10c · Land, buildings and equipment, net

    beginning of year $36,429,928 · end of year $41,001,471

  • 15 · Other assets

    beginning of year $273,740 · end of year $273,875

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,891,858 · end of year $101,084

  • 24 · Unsecured notes and loans payable

    beginning of year $23,279,600 · end of year $28,610,000

  • 25 · Other liabilities

    beginning of year $0 · end of year $385

  • 27 · Net assets without donor restrictions

    beginning of year $10,023,524 · end of year $12,965,999

Mission and programs · 2024

Mission

THE "SIXTH MAN" CENTER WILL SERVE AS THE FACILITY FOR PHILADELPHIA YOUTH BASKETBALL INC TO PROVIDE A TRANSFORMATION YOUTH DEVELOPMENT EXPERIENCE THAT LEVERAGES BASKETBALL AS A MEANS TO GROW YOUNG PEOPLE AS LEADERS, LEARNERS, AND ATHLETES. THE "SIXTH MAN" CENTER HAS SEVEN BASKETBALL COURTS, A FINANCIAL EMPOWERMENT ENGINE, HEALTHY FOOD CAFE, CLASSROOMS, PHYSICAL & MENTAL WELLNESS SPACES, RETAIL SHOP, AND MULTIMEDIA LAB.

Activities or mission (Part I)

TO PROVIDE A TRANSFORMATION YOUTH DEVELOPMENT EXPERIENCE THAT LEVERAGES BASKETBALL AS A MEANS TO GROW YOUNG PEOPLE AS LEADERS, LEARNERS, AND ATHLETES.

  • BEGINNING IN JUNE 2024, THE "SIXTH MAN" CENTER OPENED FOR THE PURPOSES OF PHILADELPHIA YOUTH BASKETBALL BEING THE SOLE TENANT. CERTIFICATE OF OCCUPANCY WAS RECEIVED IN MARCH 2025, AT WHICH POINT TENANT (PYB) BEGAN PAYING MONTHLY RENT TO LANDLORD (SMC) PER MASTER LEASE AGREEMENT.

    Expenses $1,131,804 · Revenue $121,749

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

Listed in Part VII

  • Kenneth Holdsman

    PRESIDENT

    Total calculated
    $341,196
    From this org
    $0
    From related orgs
    $312,002
    Other
    $29,194
    Hours/week
    2 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $264,272 related
    Bonus
    $0 + $47,730 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $29,194 related
    Filer's total
    $0 + $341,196 related

  • Ariel Johnson-Peredo

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Mark Silow

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Thomas Faulstich

    CFO (AS OF 01/2025)

    Total calculated
    $0
    Hours/week
    2 + 42 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
2024
Filed
14 May 2026
IRS schema version
2024v5.5
Source object
202601349349308400

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