Thomas Shipman Sr Memorial Youth Center Inc in Lake Placid, New York (NY)

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Thomas Shipman Sr Memorial Youth Center Inc
Employer Identification Number (EIN)141794204
Name of OrganizationThomas Shipman Sr Memorial Youth Center Inc
AddressPO BOX 1122, Lake Placid, NY 12946-5122
SubsectionCharitable Organization
Ruling Date02/1997
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$259,101
Amount of Income$139,364
Form 990 Revenue Amount$82,482
National Taxonomy of Exempt Entities (NTEE)Recreation, Sports, Leisure, Athletics: Community Recreational Centers

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Amount of income in 2013: $139,364 (it was $143,972 in 2012)
This organization: 

Other organizations performing similar types of work: 


Assets in 2013: $259,101 (it was $244,273 in 2012)
This organization: 

Other organizations performing similar types of work: 


Expenses in 2013: $67,570
This organization: 

Other organizations performing similar types of work: 


Income to expenses ratio in 2013: 2.1
Thomas Shipman Sr Memorial Youth Center Inc: 

Other organizations performing similar types of work: 


Grants share in income in 2013: 83.4%
Thomas Shipman Sr Memorial Youth Center Inc: 

Other organizations performing similar types of work: 


Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue$81,027$86,901$82,482
Contributions, gifts, grants, and similar amounts received$90,300$75,556$68,807
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$0$0$0
Investment income$15$8,334$12,437
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$-17,144$-11,564$-11,915
Gross income from gaming$0$0$0
Gross income from fundraising events$40,186$38,042$38,873
Less: direct expenses from gaming and fundraising events$57,330$49,606$50,788
Gross profit/loss from sales of inventory$428$3,904$5,403
Gross sales of inventory, less returns and allowances$2,779$11,369$11,497
Less: cost of goods sold$2,351$7,465$6,094
Other revenue$7,428$10,671$7,750
Total expenses$75,221$78,182$67,570
Total net assets$233,943$242,668$257,579
Excess/Deficit for the year$5,806$8,719$14,912
Net assets or fund balances at beginning of year$227,494$233,943$242,668
Other changes in net assets or fund balances$643$6$-1
Net assets or fund balances at end of year$242,668$257,579
Balance Sheets
Total assets$238,213$244,273$259,101
Total liabilities$4,270$1,605$1,522
Net assets or fund balances$233,943$242,668$257,579
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: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 supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$668,140
Gifts, grants, contributions, and membership fees received$420,715
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$247,425
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$0
The value of services or facilities furnished by a governmental unit to the organization without charge$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$723,875
Public support$668,140
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$20,844
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$34,891
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5Skating Institute Of Rochester Inc1 Boys Club Pl, Rochester, NY 14608-2017NY2014-07$284,554
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15Amsterdam Sports Foundation Inc250 W 65th St, New York, NY 10023-6403NY1999-06$0
16Bethlehem Judah Multi Cultural Center650 Lenox Ave Ste 13b, New York, NY 10037-1036NY2012-05$0
17Bridge Community CenterPO BOX 36, Copake, NY 12516-0036NY1995-11$0
18Bridge Of Hope Resource Center91 Balin Avenue, South Setauket, NY 11720NY2003-11$0
19Cacique Sports Corp220 Manhattan Ave Apt 1j, New York, NY 10025-2624NY2011-04$0
20Chautauqua Lake Rowing Association IncPo Box 824, Jamestown, NY 14701NY2007-06$0
Number of organizations performing similar types of work
District of Columbia4
North Carolina61
North Dakota8
New Hampshire17
New Jersey34
New Mexico15
New York81
Rhode Island5
South Carolina31
South Dakota9
West Virginia24
Total1,668 is not associated with, endorsed by, or sponsored by Thomas Shipman Sr Memorial Youth Center Inc and has no official or unofficial affiliation with Thomas Shipman Sr Memorial Youth Center Inc