Island Waves Inc in Holbrook, New York (NY)
Table of contents:
| Island Waves Inc | |
| Employer Identification Number (EIN) | 113612488 |
| Name of Organization | Island Waves Inc |
| In Care of Name | Michael Shapey |
| Address | 23 San Rafael Ave, Holbrook, NY 11741-2816 |
| Subsection | Educational Organization |
| Ruling Date | 10/2001 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 04/2014 |
| Assets | $25,000 to $99,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $42,983 |
| Amount of Income | $161,459 |
| Form 990 Revenue Amount | $161,459 |
| National Taxonomy of Exempt Entities (NTEE) | Recreation, Sports, Leisure, Athletics: Winter Sports (Snow and Ice) |
Non-representatives - add comments:
Amount of income in 2014: $161,459 (it was $95,982 in 2013)
| Island Waves Inc: | $161,459 |
| Other organizations performing similar types of work: | $95,590 |
Assets in 2014: $42,983 (it was $34,751 in 2013)
| This organization: | $42,983 |
| Other organizations performing similar types of work: | $36,253 |
Expenses in 2014: $153,227
| This organization: | $153,227 |
| Other organizations performing similar types of work: | $85,753 |
Income to expenses ratio in 2014: 1.1
| Island Waves Inc: | 1.1 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2014: 0.0%
| Island Waves Inc: | 0.0% |
| Other organizations performing similar types of work: | 1.7% |
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| Total revenue | $97,394 | $97,125 | $95,982 | $161,459 |
| Contributions, gifts, grants, and similar amounts received | $1,784 | $0 | $0 | $0 |
| Program service revenue including government fees and contracts | $0 | $0 | $0 | $0 |
| Membership dues and assessments | $95,875 | $97,125 | $95,982 | $161,459 |
| Investment income | $0 | $0 | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 | $0 | $0 |
| Gross profit/loss from sales of inventory | $-265 | $0 | $0 | $0 |
| Other revenue | $0 | $0 | $0 | $0 |
| Total expenses | $129,953 | $97,084 | $66,097 | $153,227 |
| Total net assets | $4,825 | $4,866 | $34,751 | $42,983 |
| Excess/Deficit for the year | $-32,559 | $41 | $29,885 | $8,232 |
| Net assets or fund balances at beginning of year | $37,384 | $4,825 | $4,866 | $34,751 |
| Other changes in net assets or fund balances | $0 | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $34,751 | $42,983 | ||
| Balance Sheets | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| Total assets | $4,825 | $4,866 | $34,751 | $42,983 |
| Total liabilities | $0 | $0 | $0 | $0 |
| Net assets or fund balances | $4,825 | $4,866 | $34,751 | $42,983 |
| Other Information | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | ||
| Were any significant changes made to the organizing or governing documents? | No | No | ||
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | ||
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | ||
| Amount of political expenditures, direct or indirect | $0 | $0 | ||
| Did the organization file Form 1120-POL for this year? | No | No | ||
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No | ||
| Total amount involved | $0 | $0 | ||
| Initiation fees and capital contributions | $0 | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No | ||
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | ||
| Reason for Public Charity Status (for 2014) | |
| The organization is not a private foundation because it is: | An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975 |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2010 - 2014) | |
| 2010 - 2014 Total | |
|---|---|
| Public support | $720,828 |
| Subtotal | $720,828 |
| Gifts, grants, contributions, and membership fees received | $718,645 |
| Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | $0 |
| Gross receipts from activities that are not an unrelated trade or business under section 513 | $0 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $2,183 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| Less | $0 |
| Amounts received from disqualified persons | $0 |
| Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support | $0 |
| Total support | $720,828 |
| Public support | $720,828 |
| Subtotal | $0 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $0 |
| Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Ussa Investment Fund | PO BOX 100, Park City, UT 84060-0100 | UT | 2007-01 | $3,239,980 |
| 2 | Rio Grande Valley Youth Hockey Association Inc | 5111 N 10th St Pmb 272, Mcallen, TX 78504 | TX | 2008-05 | $70,609 |
| 3 | Mccall Figure Skating Club | Po Box 808, Mccall, ID 83638 | ID | 2009-02 | $46,665 |
| 4 | Skyliners Synchronizer Skating Team Inc | C/O Brenner 8 Cohawney Road, Scarsdale, NY 10583 | NY | 2002-11 | $1,782,905 |
| 5 | Webster Community Rink Association | 865 Publishers Pkwy, Webster, NY 14580-2579 | NY | 1999-11 | $693,044 |
| 6 | Wheatfield Blades Hockey Association Inc | 3385 Niagara Falls Blvd, N Tonawanda, NY 14120-1213 | NY | 2004-07 | $554,981 |
| 7 | Suffolk County High School Hockey League Inc | 98 Hallock Ave, Smithtown, NY 11787-3850 | NY | 2014-07 | $496,545 |
| 8 | Schenectady Youth Hockey Association Inc | PO BOX 2618, Glenville, NY 12325-0618 | NY | 1999-12 | $430,013 |
| 9 | Team Image Synchronized Skating Teams Ltd | PO BOX 548, New Rochelle, NY 10802-0548 | NY | 2011-09 | $381,875 |
| 10 | Scarsdale Youth Hockey Association Inc | 27 Paddington Rd, Scarsdale, NY 10583-2323 | NY | 1998-04 | $322,651 |
| 11 | Syracuse Youth Hockey Association Inc | 230 County Route 4, Central Sq, NY 13036-3435 | NY | 2011-03 | $314,804 |
| 12 | Southern Tier Hockey Association Ltd | PO BOX 2765, Binghamton, NY 13902-2765 | NY | 2009-11 | $305,082 |
| 13 | St Lawrence County Snowmobile Association Inc | PO BOX 421, Canton, NY 13617-0421 | NY | 2008-03 | $253,470 |
| 14 | Twin Tier Amateur Hockey Association | PO BOX 174, Horseheads, NY 14845-0174 | NY | 2002-09 | $196,519 |
| 15 | Stars Hockey Inc | 11 Upland Ln, Armonk, NY 10504-2244 | NY | 2003-09 | $187,072 |
| 16 | Bristol Mountain Race Club Inc | 7 Brookwood Rd, Rochester, NY 14610-2101 | NY | 2011-06 | $146,766 |
| 17 | Allstarr Volleyball Incorporated, Allstarr Volleyball | 76 Saint James Place, Brooklyn, NY 11238-1236 | NY | 2011-02 | $143,920 |
| 18 | Watertown Skating And Hockey Association Inc | PO BOX 371, Watertown, NY 13601-0371 | NY | 2006-03 | $129,864 |
| 19 | Valley Youth Hockey Association Inc | PO BOX 15494, Syracuse, NY 13215-0494 | NY | 2002-12 | $127,286 |
| 20 | Skaneateles Figure Skating Club Inc Allyn Arena Jordon St | PO BOX 155, Skaneateles, NY 13152-0155 | NY | 2004-01 | $126,536 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 1,920 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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