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← ADDISON COMMUNITY ATHLETICS FOUNDATION INC

Form 990 for tax year 2023

Filed by ADDISON COMMUNITY ATHLETICS FOUNDATION INC.

Totals

Total revenue
$487,058
Total expenses
$430,794
Contributions and grants received
$260,463
Grants paid
$12,225
Program service revenue
$212,137
Investment income
$12,043
Other revenue
$2,415
Total assets, end of year
$1,770,675
Total liabilities, end of year
$32,749
Net assets or fund balances, end of year
$1,737,926
Program services expenses (Part IX)
$158,728
Management and general expenses
$272,066
Fundraising expenses
$0
Program service expenses (Part III)
$158,728

Program services were 36.8% 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

    $256,269

  • 1f · All other contributions, gifts and grants

    $4,194

  • 2a · Program service revenue: MEMBERSHIPS

    total $92,227 · related or exempt $92,227

  • 2b · Program service revenue: TEACHING/ TENNIS LESSO

    total $75,220 · related or exempt $75,220

  • 2c · Program service revenue: COURT FEES

    total $32,006 · related or exempt $32,006

  • 2d · Program service revenue: FACILITY OPERATION

    total $12,684 · related or exempt $12,684

  • 3 · Investment income

    total $15,253 · excluded $15,253

  • 6a · Gross rents

    real property $2,415

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $2,415

  • 6d · Net rental income or loss

    total $2,415 · excluded $2,415

  • 7a · Gross sales of assets other than inventory

    securities $9,827

  • 7b · Less cost or other basis and sales expenses

    securities $13,037

  • 7c · Gain or loss

    securities -$3,210

  • 7d · Net gain or loss

    total -$3,210 · excluded -$3,210

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $12,225 · program services $12,225

  • 5 · Compensation of officers, directors and key employees

    total $47,250 · program services $47,250

  • 7 · Other salaries and wages

    total $169,426 · program services $47,021 · management and general $122,405

  • 10 · Payroll taxes

    total $19,638 · program services $9,182 · management and general $10,456

  • 11a · Fees: management

    total $40,000 · management and general $40,000

  • 11f · Fees: investment management

    total $3,585 · management and general $3,585

  • 12 · Advertising and promotion

    total $3,557 · management and general $3,557

  • 13 · Office expenses

    total $2,830 · program services $1,193 · management and general $1,637

  • 14 · Information technology

    total $5,606 · program services $2,186 · management and general $3,420

  • 16 · Occupancy

    total $48,603 · program services $17,051 · management and general $31,552

  • 19 · Conferences, conventions and meetings

    total $553 · program services $356 · management and general $197

  • 22 · Depreciation, depletion and amortization

    total $31,565 · program services $12,310 · management and general $19,255

  • 23 · Insurance

    total $6,638 · management and general $6,638

  • 24a · Other expenses: MISCELLANEOUS

    total $23,900 · program services $9,954 · management and general $13,946

  • 24b · Other expenses: TENNIS SUPPLIES

    total $13,883 · management and general $13,883

  • 24c · Other expenses: DUES

    total $1,535 · management and general $1,535

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $126,078 · end of year $36,370

  • 3 · Pledges and grants receivable

    end of year $105

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,381 · end of year $1,978

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

    $1,085,196

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

    $207,552

  • 10c · Land, buildings and equipment, net

    beginning of year $799,268 · end of year $877,644

  • 11 · Investments: publicly traded securities

    beginning of year $586,387 · end of year $586,783

  • 12 · Investments: other securities

    beginning of year $92,378 · end of year $267,795

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,049 · end of year $32,749

  • 27 · Net assets without donor restrictions

    beginning of year $1,600,443 · end of year $1,737,926

Mission and programs · 2023

Mission

TO PROMOTE ATHLETICS AND HEALTHFUL BEHAVIORS THROUGHOUT THE GREATER ADDISON COUNTY REGION OF VERMONT BY SUPPORTING TENNIS AND OTHER HEALTH EDUCATION PROGRAMS FOR YOUTH AND ADULTS.

  • THE FOUNDATION DEVELOPS AND SUPPORTS PROGRAMS THAT ENGAGE COMMUNITIES IN THE GREATER ADDISON COUNTRY REGION BY OFFERING TENNIS AND OTHER ATHLETIC ACTIVITIES AT THE FOUNDATION'S INDOOR TENNIS FACILITY, AT LOCAL SCHOOLS, AND COMMUNITY COURTS. THROUGH THESE PROGRAMS, THE FOUNDATION SEEKS TO PROMOTE THE HEALTH AND WELL-BEING OF CHILDREN AND ADULTS IN THE GREATER ADDISON COUNTRY REGION OF VERMONT. THE FOUNDATION PROVIDED COMPLIMENTARY SERVICES TO LOCAL SCHOOLS, STUDENTS, AND PROGRAMS TOTALING $12,225 AND $8,667 IN 2023 AND 2022, RESPECTIVELY.

    Expenses $158,728 · Grants $12,225 · Revenue $212,137

As filed on the 2023 return.

Listed in Part VII

  • David W Ignat

    PRESIDENT

    Total calculated
    $0
    Hours/week
    25

  • Eleanor P Ignat

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    8

  • Thomas Smith

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Kate Neubauer

    SECRETARY (UNTIL 04/23)

    Total calculated
    $120,806
    From this org
    $0
    From related orgs
    $71,222
    Other
    $49,584
    Hours/week
    2 + 40 related

  • Anna Grady

    SECRETARY (AS OF 04/23)

    Total calculated
    $169,094
    From this org
    $0
    From related orgs
    $146,645
    Other
    $22,449
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $146,645 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,011 related
    Nontaxable benefits
    $0 + $16,438 related
    Filer's total
    $0 + $169,094 related

  • David Hamilton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Brian McDonough

    GENERAL MANAGER

    Total calculated
    $47,250
    From this org
    $47,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    24

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MIDDLEBURY INDOOR TENNIS LLC

    LEASES AN INDOOR TENNIS FACILITY TO ADDISON COMMUNITY ATHLETICS FOUNDATION · VT · income $214,552 · assets $845,122

    Directly controlled by ADDISON COMMUNITY ATHLETICS FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349325944

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