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Nonprofiteer
← BGC PHILLY PACESETTERS INC

Form 990 for tax year 2023

Filed by BGC PHILLY PACESETTERS INC.

Totals

Total revenue
$502,698
Total expenses
$771,655
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$502,698
Investment income
$0
Other revenue
$0
Total assets, end of year
$11,903,672
Total liabilities, end of year
$12,684,219
Net assets or fund balances, end of year
-$780,547
Program services expenses (Part IX)
$698,080
Management and general expenses
$73,575
Fundraising expenses
$0
Program service expenses (Part III)
$698,080

Program services were 90.5% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $502,698 · related or exempt $502,698

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $70,775 · management and general $70,775

  • 11c · Fees: accounting

    total $2,800 · management and general $2,800

  • 20 · Interest

    total $113,015 · program services $113,015

  • 22 · Depreciation, depletion and amortization

    total $585,065 · program services $585,065

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $168,387 · end of year $96,812

  • 4 · Accounts receivable

    beginning of year $301,698 · end of year $603,396

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

    $12,377,118

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

    $1,173,654

  • 10c · Land, buildings and equipment, net

    beginning of year $11,788,530 · end of year $11,203,464

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $24,400

  • 23 · Secured mortgages and notes payable

    beginning of year $9,348,946 · end of year $9,364,360

  • 25 · Other liabilities

    beginning of year $3,421,259 · end of year $3,295,459

  • 27 · Net assets without donor restrictions

    beginning of year -$511,590 · end of year -$780,547

Mission and programs · 2023

Mission

BCG PHILLY PACESETTERS, INC. WAS ORGANIZED AS A SUPPORTING ORGANIZATION TO BOYS AND GIRLS CLUBS OF PHILADELPHIA, INC. ("BGCP") TO FACILITATE THE RENOVATION OF THE RALPH J. ROBERTS BOYS & GIRLS CLUB FACILITY.

  • BCG PHILLY PACESETTERS, INC. WAS ORGANIZED AS A SUPPORTING ORGANIZATION TO BOYS AND GIRLS CLUBS OF PHILADELPHIA ("BGCP") TO FACILITATE THE RENOVATION OF THE RALPH J. ROBERTS BOYS & GIRLS CLUB FACILITY (REFERRED TO AS THE "FACILITY OR THE "GERMANTOWN CLUB"). BOTH THE BOARDS OF BGCP AND BCG PHILLY PACESETTERS APPROVED RESOLUTIONS CONCERNING THE FINANCING AND RELATED TRANSACTIONS. AS A SUPPORTING ORGANIZATION TO BGCP, BCG PHILLY PACESETTERS' ACTIVITIES WILL INVOLVE FACILITATING AND HELPING TO FUND THE RENOVATION OF THE FACILITY AND LEASING THE RENOVATED FACILITY BACK TO BGCP.

    Expenses $698,080 · Revenue $502,698

As filed on the 2023 return.

Listed in Part VII

  • BRUCE MCKENNEY

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2

  • GREG WEBSTER

    DIRECTOR AND VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • DAVID WOOLF

    DIRECTOR AND TREASURER

    Total calculated
    $0
    Hours/week
    2

  • CLARE MCGRORY KELLY

    DIRECTOR AND SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • TOM HOFFMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JOSEPH MARZIELLO

    PRESIDENT-CEO

    Total calculated
    $262,443
    From this org
    $0
    From related orgs
    $230,000
    Other
    $32,443
    Hours/week
    15 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $230,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $25,942 related
    Nontaxable benefits
    $0 + $6,501 related
    Filer's total
    $0 + $262,443 related

  • LISABETH MARZIELLO

    PRESIDENT-CEO

    Total calculated
    $268,955
    From this org
    $0
    From related orgs
    $230,000
    Other
    $38,955
    Hours/week
    15 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $230,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $25,942 related
    Nontaxable benefits
    $0 + $13,013 related
    Filer's total
    $0 + $268,955 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

The filer's explanations (Part III)

PART I, LINE 3
THE TOP MANAGEMENT OFFICIALS ARE COMPENSATED BY BOYS AND GIRLS CLUBS OF PHILADELPHIA, INC., A RELATED ORGANIZATION OF BGC PHILLY PACESETTERS, INC. BOYS AND GIRLS CLUBS OF PHILADELPHIA, INC. ESTABLISHED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIALS USING THE COMPENSATION SURVEY OR STUDY METHOD.

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
14 May 2025
IRS schema version
2023v6.0
Source object
202501359349307655

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