Asphalt Green Inc

Organization Overview

Asphalt Green Inc is located in New York, NY. The organization was established in 1975. According to its NTEE Classification (N31) the organization is classified as: Community Recreational Centers, under the broad grouping of Recreation & Sports and related organizations. As of 06/2021, Asphalt Green Inc employed 586 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asphalt Green Inc 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 06/2021, Asphalt Green Inc generated $15.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.4%) each year. All expenses for the organization totaled $20.5m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

SPORT AND FITNESS ORGANIZATION

Describe the Organization's Program Activity:

Part 3 - Line 4a

FACILITIES USAGE - INCLUDES USAGE OF POOL AND FITNESS CENTER. BENEFITED APPROXIMATELY 7,500 PEOPLE DURING THE YEAR.


PROGRAMS - INCLUDES AQUATICS, EXERCISE PROGRAMS, SPORTS, MARTIAL ARTS, AND CAMPS. BENEFITED APPROXIMATELY 11,250 PEOPLE DURING THE YEAR.


FREE COMMUNITY PROGRAMS & USAGE - INCLUDES USAGE OF POOL, FIELD, GYM, THEATER, SPORTS, AQUATICS AND OTHER PROGRAMS. BENEFITED APPROXIMATELY 5,000 PEOPLE DURING THE YEAR.


OTHER PROGRAM SERVICES INCLUDES THE FOLLOWING: 1) FACILITIES RENTAL - INCLUDES THE RENTAL OF THE POOL, GYM, THEATER, STUDIOS AND ASTROTURF FIELD. 2)THE ASPHALT GREEN BATTERY PARK CITY FACILITY FORMALLY BEGAN ITS OPERATIONS IN JUNE 2013 UNDER AN AMENDED MANAGEMENT-SERVICES AGREEMENT (THE "MARCH 2013 AGREEMENT"). UNDER THIS MARCH 2013 AGREEMENT, BATTERY PARK CITY AUTHORITY LEASED TO ASPHALT GREEN THE PREMISES AS DEFINED IN THE AGREEMENT. THE PREMISES ARE LEASED FOR ATERM OF APPROXIMATELY TEN YEARS, WHICH STARTED ON MAY 1, 2013 AND WILL END IN JUNE 2023, OR ON THE LAST DAY OF ANY EXTENDED TERM PURSUANT TO THE LEASE AGREEMENT. RENTAL PAYMENTS WILL BE CALCULATED ON A FEE STRUCTURE THAT IS BASED ON A PERCENTAGE OF AGPBC'S OPERATING REVENUE AND THE PAYMENTS WILL BEGAN ON JULY 1, 2019. THE ESTIMATED FUTURE MINIMUM RENTAL PAYMENTS, THROUGH FISCAL-YEARS 2021, 2022, 2023, ARE $209,644, $242,881, AND $274,850, RESPECTIVELY, TOTALING $727,735.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$359,183
Related organizations$0
Government grants $38,134
All other contributions, gifts, grants, and similar amounts not included above$1,729,360
Noncash contributions included in lines 1a–1f $106,793
Total Revenue from Contributions, Gifts, Grants & Similar$2,126,677
Total Program Service Revenue$13,056,925
Investment income $406,187
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $261,057
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $15,850,846

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Asphalt Green Inc has recieved totaling $50,000.

Awarding OrganizationAmount
Gray Foundation

Cohoes, NY

PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION.

$50,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$5,408,526
Earnings$2,361,066
Other Expense$181,656
Ending Balance$7,587,936

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