Parkette National Gymnastic Team Inc
- Assets
- $2.4m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 67
- Location
- Allentown, PA
- Founding
- 03/1978
- Data as of
- 08/2023
- EIN
- 23-2046090
Organization Overview
Parkette National Gymnastic Team Inc is located in Allentown, PA. The organization was established in 1978. As of 08/2023, Parkette National Gymnastic Team Inc employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Parkette National Gymnastic Team 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 08/2023, Parkette National Gymnastic Team Inc generated $2.3m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $2.2m during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 8 years. 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
PARKETTES ARE ORGANIZED FOR THE PURPOSE OF PROVIDING ALL BOYS AND GIRLS, REGARDLESS OF AGE, FINANCIAL, MENTAL, OR PHYSICAL ABILITY, THE OPPORTUNITY TO EXPERIENCE THE JOY AND BENEFITS OF GYMNASTICS WHILE BECOMING PART OF OUR FAMILY OF ATHLETES. TOWARD THAT END, THE OFFICERS, DIRECTORS, STAFF, AND VOLUNTEERS ARE COMMITTED TO: PROGRAMS THAT COVER THE ENTIRE RANGE OF YOUTH AND THEIR DEVELOPMENT, BEGINNING WITH PRE-SCHOOL CLASSES, WITH THE OPPORTUNITY FOR ADVANCEMENT TO TEAM PROGRAMS THROUGH WHICH YOUNG ATHLETES MAY ULTIMATELY GAIN NATIONAL, INTERNATIONAL, AND OLYMPIC RECOGNITION. PROGRAMS FOR CHILDREN WHO HAVE SPECIAL PHYSICAL, MENTAL OR EMOTIONAL NEEDS SO THEY MAY GAIN PHYSICAL BENEFITS AND INNER CONFIDENCE THROUGH THE SPORT OF GYMNASTICS. AN ENVIRONMENT TO EXPERIENCE THE IMPORTANCE OF PHYSICAL FITNESS, INCLUDING STRENGTH, BALANCE, FLEXIBILITY, AND COORDINATION, AND THE VALUE OF A DISCIPLE.INED TRAINING REGIMENT THAT ENHANCES ANY ATHLETIC ENDEAVOR. A LEARNING EXPERIENCE WITH EMPHASIS ON T
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING THE FINEST IN GYMNASTICS TRAINING TO OVER 1200 LOCAL CHILDREN THAT PARTICIPATE TO HAVE FUN WHILE DEVELOPING PHYSCIAL FITNESS, COORDINATION, STRENGTH AND FLEXIBILITY. ALSO PROVIDING GYMNAST WHO ARE INTERESTED IN COMPETING THE OPPORTUNITY TO COMPETE ON ONE OF MANY DIFFERENT TEAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Strauss President /c | OfficerTrustee | 40 | $62,500 |
Kurt Feldman Co-Chairman | OfficerTrustee | 2 | $0 |
Daniel Dawson Treasurer | OfficerTrustee | 2 | $0 |
Stephanie Cipolloni Board Member | Trustee | 1 | $0 |
Name Not Listed Board Member | Trustee | 1 | $0 |
Name Not Listed Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,186 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,186 |
| Total Program Service Revenue | $2,218,075 |
| Investment income | $9,008 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $96,857 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,343,101 |
| 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. | $146,500 |
| Compensation of current officers, directors, key employees. | $146,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,018,354 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $57,514 |
| Payroll taxes | $95,738 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,498 |
| Fees for services: Accounting | $17,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,176 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,805 |
| Office expenses | $24,627 |
| 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 | $35,182 |
| Insurance | $56,705 |
| All other expenses | $347,949 |
| Total functional expenses | $2,215,776 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $261,420 |
| Savings and temporary cash investments | $552,543 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,664 |
| 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 | $40,602 |
| Net Land, buildings, and equipment | $383,725 |
| Investments—publicly traded securities | $1,073,138 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,381 |
| Total assets | $2,356,473 |
| Accounts payable and accrued expenses | $35,241 |
| Grants payable | $0 |
| Deferred revenue | $204,513 |
| 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 | $54,486 |
| Total liabilities | $294,240 |
| Net assets without donor restrictions | $2,062,233 |
| 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 | $2,356,473 |