Terrace Athletic Club Inc in New Castle, Delaware (DE)

Terrace Athletic Club Inc
Employer Identification Number (EIN)	510351397
Name of Organization	Terrace Athletic Club Inc
In Care of Name	B Garcia
Address	PO BOX 421, New Castle, DE 19720-0421
Activities	Other social activities, Other sports club, Other sports or athletic activities
Subsection	Pleasure, Recreational, or Social Club
Ruling Date	07/1996
Deductibility	Contributions are not deductible
Foundation	All organizations except 501(c)(3)
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	12/2013
Assets	$100,000 to $499,999
Income	$100,000 to $499,999
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$272,345
Amount of Income	$342,172
Form 990 Revenue Amount	$169,231

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Financial snapshot ($)

Revenue for 2012

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?	Yes
Initiation fees and capital contributions	$0
Gross receipts for public use of club facilities	$0
Gross income from members or shareholders	$0
Gross income from other sources	$0

Statement of Revenue (for 2012)
Total revenue	$211,367
Contributions, Gifts, Grants and Other Similar Amounts	$0
Program Service Revenue	$14,653
Other Revenue
Investment income (including dividends, interest, and other similar amounts)	$7,388
Income from investment of tax-exempt bond proceeds	$0
Royalties	$0
Net rental income	$0
Net gain from sales of assets other than inventory	$0
Net income from fundraising events	$0
Net income from gaming activities	$0
Net income from sales of inventory	$189,326
Gross sales of inventory, less returns and allowances	$361,598
Less: cost of goods sold	$172,272
Miscellaneous Revenue	$0

Statement of Functional Expenses (for 2012)
Total functional expenses	$156,013
Compensation of current officers, directors, trustees, and key employees	$0
Other salaries and wages	$0
Payroll taxes	$0
Professional fundraising services	$0
Other	$156,013

Balance Sheet (for 2012)
Total assets	$298,428
Total liabilities	$1,890
Tax-exempt bond liabilities	$0
Secured mortgages and notes payable to unrelated third parties	$0
Unsecured notes and loans payable to unrelated third parties	$0
Other	$1,890
Total net assets or fund balances	$296,538
Retained earnings, endowment, accumulated income, or other funds	$0

Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:	Not provided

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