Buchanan Basketball Foundation in Grundy, Virginia (VA)
Table of contents:
| Buchanan Basketball Foundation | |
| Employer Identification Number (EIN) | 911872682 |
| Name of Organization | Buchanan Basketball Foundation |
| In Care of Name | GINA SIMPSON |
| Address | PO BOX 2100, Grundy, VA 24614 |
| Activities | Described in section 170(b)1)(a)(vi) of the Code, Training in sports |
| Subsection | Charitable Organization, Educational Organization |
| Ruling Date | 05/2014 |
| 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 | 2013 |
| Assets | $0 |
| Income | $0 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $322,333 |
| Amount of Income | $8,770 |
| Form 990 Revenue Amount | $8,770 |
| National Taxonomy of Exempt Entities (NTEE) | Recreation, Sports, Leisure, Athletics: Basketball |
Non-representatives - add comments:
Amount of income in 2013: $8,770 (it was $19,455 in 2011)
| This organization: | $8,770 |
| Other organizations performing similar types of work: | $64,577 |
Assets in 2013: $322,333 (it was $349,870 in 2011)
| This organization: | $322,333 |
| Other organizations performing similar types of work: | $12,347 |
Expenses in 2013: $27,356
| This organization: | $27,356 |
| Other organizations performing similar types of work: | $60,846 |
Income to expenses ratio in 2013: 0.3
| Buchanan Basketball Foundation: | 0.3 |
| Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2013: 56.9%
| This organization: | 56.9% |
| Other organizations performing similar types of work: | 0.5% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||||
| 2009 | 2010 | 2011 | 2013 | |
|---|---|---|---|---|
| Total revenue | $21,892 | $16,649 | $19,455 | $8,770 |
| Contributions, gifts, grants, and similar amounts received | $13,750 | $9,097 | $13,560 | $4,986 |
| Program service revenue including government fees and contracts | $0 | $0 | $0 | $1,722 |
| Membership dues and assessments | $0 | $0 | $0 | $0 |
| Investment income | $1,189 | $962 | $585 | $69 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $6,953 | $6,499 | $5,079 | $1,993 |
| Gross income from gaming | $6,953 | $6,499 | $0 | $0 |
| Gross income from fundraising events | $0 | $0 | $5,136 | $2,209 |
| Less: direct expenses from gaming and fundraising events | $0 | $0 | $57 | $216 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 | $0 |
| Other revenue | $0 | $91 | $231 | $0 |
| Total expenses | $35,915 | $35,155 | $30,150 | $27,356 |
| Total net assets | $379,071 | $360,565 | $349,870 | $322,333 |
| Excess/Deficit for the year | $-14,023 | $-18,506 | $-10,695 | $-18,586 |
| Net assets or fund balances at beginning of year | $393,094 | $379,071 | $360,565 | $340,919 |
| Other changes in net assets or fund balances | $0 | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $379,071 | $360,565 | $349,870 | $322,333 |
| Balance Sheets | ||||
| 2009 | 2010 | 2011 | 2013 | |
|---|---|---|---|---|
| Total assets | $379,071 | $360,565 | $349,870 | $322,333 |
| Total liabilities | $0 | $0 | $0 | $0 |
| Net assets or fund balances | $379,071 | $360,565 | $349,870 | $322,333 |
| Other Information | ||||
| 2009 | 2010 | 2011 | 2013 | |
|---|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | No | No |
| Were any significant changes made to the organizing or governing documents? | No | No | 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 | No | No |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | No | No |
| Amount of political expenditures, direct or indirect | $0 | $0 | $0 | $0 |
| Did the organization file Form 1120-POL for this year? | No | No | 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 | No | No |
| Total amount involved | $0 | $0 | $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 | No | No |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | No | No |
| 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 supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $119,500 |
| Subtotal | $119,500 |
| Gifts, grants, contributions, and membership fees received | $83,533 |
| 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 | $35,967 |
| 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 |
| 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 | $124,021 |
| Public support | $119,500 |
| Subtotal | $4,521 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $4,521 |
| 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 | Virginia Travel Baseball | 8108 Tall Timber Dr, Gainesville, VA 20155-1745 | VA | 2013-12 | $306,064 |
| 2 | Gainesville District Basketball Associates | PO BOX 104, Catharpin, VA 20143-0104 | VA | 2014-05 | $301,104 |
| 3 | The 2 Ridges Basketball League Inc, T2rbl | 42445 Meadow Sage Dr, Ashburn, VA 20148-5693 | VA | 2006-05 | $298,812 |
| 4 | Mercer-Lunsford Basketball League | 25050 Riding Plz Ste 130 # 137, South Riding, VA 20152-5926 | VA | 2014-07 | $215,304 |
| 5 | Virginia Pride Inc | 1651 Old Meadow Rd, Mclean, VA 22102-4311 | VA | 2002-11 | $204,888 |
| 6 | Western Loudoun Basketball League Inc | PO BOX 1338, Purcellville, VA 20134-1338 | VA | 2014-08 | $182,681 |
| 7 | Tpls Inc | 3313 Pemberton Creek Ct, Richmond, VA 23233-1448 | VA | 2007-08 | $156,486 |
| 8 | P S P A | 3622 Barcroft View Ter, Falls Church, VA 22041-1584 | VA | 2012-10 | $149,562 |
| 9 | Tri-City Basketball Officials Association | PO BOX 7883, Richmond, VA 23231-0383 | VA | 2008-08 | $140,256 |
| 10 | Hanover Youth Basketball League | PO BOX 2885, Mechanicsvlle, VA 23116-0023 | VA | 2011-06 | $135,805 |
| 11 | Filipino-American Youth Basketball Association Inc | 8591 Tyrolean Way, Springfield, VA 22153 | VA | 2009-02 | $122,999 |
| 12 | Nova 94 Feet Inc | 11607 Tori Glen Court, Herndon, VA 20170 | VA | 2013-01 | $120,229 |
| 13 | Winchester Athletic Association, Aau Basketball | 115 Racey Ridge Dr, Winchester, VA 22602-6922 | VA | 2003-12 | $115,595 |
| 14 | Seneca Ridge River Bend Basketball League Inc | Po Box 650129, Potomac Falls, VA 20165-0129 | VA | 2002-05 | $96,472 |
| 15 | Fairfax Home School Athletic Association | PO BOX 576, Fairfax, VA 22038-0576 | VA | 2013-03 | $73,020 |
| 16 | Turnpike Basketball Club | 8245 Taunton Pl, Springfield, VA 22152-2428 | VA | 2012-03 | $60,459 |
| 17 | Spectrum Basketball Club | 3710 Tom Andrews Rd Nw, Roanoke, VA 24019-3062 | VA | 2014-07 | $59,174 |
| 18 | Arlington Travel Basketball Inc | 2114 N Pollard St, Arlington, VA 22207-3812 | VA | 2014-08 | $29,914 |
| 19 | Va Hokies Sports Organization Inc | 9759 Copeland Dr, Manassas, VA 20109-3066 | VA | 2011-11 | $26,500 |
| 20 | Titans Association | Po Box 9530, Chesapeake, VA 23321 | VA | 2002-11 | $16,515 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 2,799 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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