Palmyra Racing Assoc in Palmyra, New York (NY)

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Palmyra Racing Assoc
Employer Identification Number (EIN)161477370
Name of OrganizationPalmyra Racing Assoc
In Care of NameJames Roe
Address126 E Charlotte Ave, Palmyra, NY 14522-1406
SubsectionSocial Welfare Organization
Ruling Date09/2010
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
Exempt Organization StatusUnconditional Exemption
Tax Period12/2014
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$207,241
Amount of Income$148,562
Form 990 Revenue Amount$144,008
National Taxonomy of Exempt Entities (NTEE)Recreation, Sports, Leisure, Athletics: Amateur Sports Competitions

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Amount of income in 2014: $148,562 (it was $131,368 in 2013)
This organization: 

Other organizations performing similar types of work: 


Assets in 2014: $207,241 (it was $202,085 in 2013)
Palmyra Racing Assoc: 

Other organizations performing similar types of work: 


Expenses in 2013: $140,447
Palmyra Racing Assoc: 

Other organizations performing similar types of work: 


Income to expenses ratio in 2013: 1.1
This organization: 

Other organizations performing similar types of work: 


Grants share in income in 2013: 0.0%
Palmyra Racing Assoc: 

Other organizations performing similar types of work: 


Financial snapshot ($)

Revenue for 2013

Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue$131,961$131,526$131,368
Contributions, gifts, grants, and similar amounts received$0$0$0
Program service revenue including government fees and contracts$81,516$73,286$67,519
Membership dues and assessments$43,915$51,753$53,135
Investment income$363$228$259
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$0$0$0
Gross profit/loss from sales of inventory$0$0$0
Other revenue$6,167$6,259$10,455
Total expenses$108,725$142,192$140,447
Total net assets$221,830$211,164$202,085
Excess/Deficit for the year$23,236$-10,666$-9,079
Net assets or fund balances at beginning of year$198,594$221,830$211,164
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$211,164$202,085
Balance Sheets
Total assets$221,830$211,164$202,085
Total liabilities$0$0$0
Net assets or fund balances$221,830$211,164$202,085
Other Information
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
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?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities$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?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:Not provided
Number of organizations supported0
Sum of amounts of support$0
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Number of organizations performing similar types of work
District of Columbia14
North Carolina130
North Dakota87
New Hampshire35
New Jersey124
New Mexico57
New York323
Rhode Island17
South Carolina53
South Dakota65
West Virginia43
Total6,596 is not associated with, endorsed by, or sponsored by Palmyra Racing Assoc and has no official or unofficial affiliation with Palmyra Racing Assoc