Virginia Basketball Academy Foundation
- Assets
- $209.8k
- Revenue
- $562.0k
- Investments
- $0.0
- Employees
- 25
- Location
- Charlottesville, VA
- Founding
- 08/2008
- Data as of
- 06/2021
- EIN
- 20-8861885
Organization Overview
Virginia Basketball Academy Foundation is located in Charlottesville, VA. The organization was established in 2008. According to its NTEE Classification (N62) the organization is classified as: Basketball, under the broad grouping of Recreation & Sports and related organizations. As of 06/2021, Virginia Basketball Academy Foundation employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Basketball Academy Foundation 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, Virginia Basketball Academy Foundation generated $562.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $356.0k during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD CHARACTER AND SHAPE LIVES THROUGH THE GAME OF BASKETBALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES A COMPREHENSIVE, OFF-SEASON BASKETBALL TRAINING PROGRAM COMPRISED OF A VARIETY OF LEARNING OPPORTUNITIES FOR BOYS AND GIRLS OF ALL AGES. THE FOUNDATION'S UNIQUE PROGRAM CONSISTS OF CAMPS, MINI-CAMPS, CLINICS, WEEKLY COURSES AND PRIVATE AND GROUP INSTRUCTION.PARTICIPANTS IN THE FOUNDATION'S PROGRAMS COME FROM THE CITY OF CHARLOTTESVILLE AND SURROUNDING COUNTIES OF ALBEMARLE, GREENE, FLUVANNA, AND LOUISA. DURING THE YEAR, APPROXIMATELY 1,600 CHILDREN PARTICIPATED IN THE FOUNDATION'S BASKETBALL LEAGUES AND 7-WEEK SUMMER CAMP PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben D'alessandro Executive Director | Officer | 60 | $127,000 |
Mr Chris Brubaker Treasurer | OfficerTrustee | 1 | $0 |
Mr Jt Enoch Vice-President | OfficerTrustee | 1 | $0 |
Mr Doug Barrese President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $45,614 |
| All other contributions, gifts, grants, and similar amounts not included above | $121,949 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $167,563 |
| Total Program Service Revenue | $394,477 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $562,040 |
| 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. | $156,000 |
| Compensation of current officers, directors, key employees. | $23,400 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $63,071 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,983 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,995 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,780 |
| Advertising and promotion | $0 |
| Office expenses | $9,299 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,321 |
| All other expenses | $13,371 |
| Total functional expenses | $356,007 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $209,780 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $209,780 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $209,780 |
| Net assets with donor restrictions | $0 |
| 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 | $209,780 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Virginia Basketball Academy Foundation has recieved totaling $68,664.
| Awarding Organization | Amount |
|---|---|
Charlottesville Area Community Foundation Charlottesville, VA PURPOSE: GENERAL PURPOSES | $65,664 |
Dicks Sporting Goods Foundation Coraopolis, PA PURPOSE: SPORTS MATTER | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South West Lmc Inc Ona, WV | $364,106 | $8,913,283 |
The Empowered Workforce Association Hamilton, VA | $281,260 | $8,487,514 |
Kenneth A Hall And Patricia A Hall Charitable Foundation Norfolk, VA | $61,687,213 | $53,085,247 |
Together Every1 Achieves More Inc Gwynn Oak, MD | $1,472,727 | $5,366,148 |
District Of Columbia Approved Basketball Officials Association I Silver Spring, MD | $111,562 | $892,920 |
Carolina Rise Indian Trail, NC | $28,581 | $518,712 |
Kentucky Cobras Inc Florence, KY | $27,896 | $450,667 |
Nova 94 Feet Inc Herndon, VA | $62,716 | $473,698 |
D-Up Inc High Point, NC | $689,970 | $686,296 |
Va Hokies Sports Organization Inc Manassas, VA | $860 | $379,968 |
Virginia Basketball Academy Foundation Charlottesville, VA | $209,780 | $562,040 |
Leadership Through Athletic Inc Lansdowne, MD | $1,689,605 | $399,561 |