Wakeman Memorial Association Inc
- Assets
- $31.3m
- Revenue
- $11.6m
- Investments
- $4.7m
- Employees
- 201
- Location
- Bridgeport, CT
- Founding
- 11/1937
- Data as of
- 07/2023
- EIN
- 06-0662198
Organization Overview
Wakeman Memorial Association Inc, operating under the name Wakeman Boys & Girls Club, is located in Bridgeport, CT. The organization was established in 1937. According to its NTEE Classification (O20) the organization is classified as: Youth Centers & Clubs, under the broad grouping of Youth Development and related organizations. As of 07/2023, Wakeman Boys & Girls Club employed 201 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wakeman Boys & Girls Club is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 07/2023, Wakeman Boys & Girls Club generated $11.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.6% each year . All expenses for the organization totaled $4.4m during the year ending 07/2023. While expenses have increased by 7.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY YOUTH SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC SUCCESS: AFTER SCHOOL PROGRAM FOR ALL MEMBERS K-8, WITH OPEN GYM TIME, POWER HOUR WITH DEDICATED HOMEWORK SPACE AND STAFF, OUTDOOR PLAY AREA AND FREQUENT STEM, CREATIVE ARTS AND OTHER SPECIAL ACTIVITIES. HOMEWORK HELP IS AVAILABLE FOR ALL GRADES.
WAKEMAN MEMORIAL ASSOCIATION, INC. (THE "ASSOCIATION") STRIVES TO ENHANCE THE PHYSICAL, SOCIAL AND EMOTIONAL DEVELOPMENT OF AREA YOUTH THROUGH PROGRAMS THAT PERPETUATE SOUND CITIZENSHIP. THE ASSOCIATION'S RECREATIONAL ENVIRONMENT PROVIDES ITS MEMBERSHIP, OVER 2,500 BOYS AND GIRLS, WITH A TRADITIONAL AFTER SCHOOL DROP-IN CENTER, WHILE ALSO SERVING AS AN OUTLET FOR PROFESSIONALLY STRUCTURED ACTIVITIES IN THE FOLLOWING THREE CORE PROGRAM AREAS: ACADEMIC SUCCESS, CHARACTER & LEADERSHIP AND HEALTHY LIFESTYLES. THESE PROGRAM OFFERINGS INCLUDE BUT ARE NOT LIMITED TO: SPORTS, TRAVEL LEAGUES & RECREATION, OUT OF SCHOOL TIME, THE ARTS, HEALTH & WELLNESS, TEENS INITIATIVES, MENTORING. PROGRAMS PROVIDED ARE FOCUSED AROUND SAFE PLACES, MENTORSHIP, MENTAL HEALTH, WORKFORCE READINESS, DEI AND YOUTH ADVOCACY.
CAMP: PROVIDE A SUMMER FULL OF INDOOR-OUTDOOR, ACTIVE AND CREATIVE FUN AT OUR CLUBHOUSES. OFFERING WEEKLY, THEMED, FULL-DAY CAMP WITH BEFORE AND AFTER CARE OPTIONS AS WELL AS SPECIALTY CAMPS AND TEEN LEADERSHIP TRAINING OPPORTUNITIES.
HEALTHY LIFESTYLES: BASKETBALL LEAGUES AND FOOTBALL TEAMS PROVIDE A FRIENDLY ATMOSPHERE FOR COACHES TO WORK WITH TEAMS OF BOYS AND/OR GIRLS. THESE TEAMS, WHICH CONSIST OF PLAYERS WITH DIFFERENT SKILL LEVELS, ARE TAUGHT THE BASICS AS WELL AS GOOD SPORTMANSHIP WHILE HAVING FUN AND MAKING NEW FRIENDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Sullivan Chairman | OfficerTrustee | 5 | $0 |
Stacey Hoin 1st Vice Chairman | OfficerTrustee | 1 | $0 |
Sheila Clancy 2nd Vice Chairman | OfficerTrustee | 1 | $0 |
Robert Lyons Treasurer | OfficerTrustee | 1 | $0 |
Michelle Guzzi Secretary | OfficerTrustee | 1 | $0 |
Michael A Bayles Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $259,454 |
| Fundraising events | $114,220 |
| Related organizations | $0 |
| Government grants | $7,409,652 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,436,878 |
| Noncash contributions included in lines 1a–1f | $524,243 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,220,204 |
| Total Program Service Revenue | $1,033,106 |
| Investment income | $235,322 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $78,277 |
| Net Income from Fundraising Events | $37,157 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,604,066 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $338,785 |
| Compensation of current officers, directors, key employees. | $168,791 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,835,111 |
| Pension plan accruals and contributions | $114,782 |
| Other employee benefits | $136,973 |
| Payroll taxes | $186,211 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,840 |
| Fees for services: Other | $194,448 |
| Advertising and promotion | $37,409 |
| Office expenses | $55,129 |
| Information technology | $102,077 |
| Royalties | $0 |
| Occupancy | $32,427 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $81,280 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $300,180 |
| Insurance | $0 |
| All other expenses | $260,455 |
| Total functional expenses | $4,357,300 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,374,745 |
| Savings and temporary cash investments | $136,388 |
| Pledges and grants receivable | $1,653,727 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,248,200 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $24,000 |
| Net Land, buildings, and equipment | $6,041,508 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,711,745 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,131,824 |
| Total assets | $31,322,137 |
| Accounts payable and accrued expenses | $208,997 |
| Grants payable | $0 |
| Deferred revenue | $18,495 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,489,736 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,717,228 |
| Net assets without donor restrictions | $29,016,862 |
| Net assets with donor restrictions | $588,047 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $31,322,137 |