Gym Rats Inc
- Assets
- $64.6k
- Revenue
- $177.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Wayne, IN
- Founding
- 04/1996
- Data as of
- 12/2021
- EIN
- 35-1909952
Organization Overview
Gym Rats Inc is located in Fort Wayne, IN. The organization was established in 1996. According to its NTEE Classification (N62) the organization is classified as: Basketball, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gym Rats 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 12/2021, Gym Rats Inc generated $177.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (18.5%) each year. All expenses for the organization totaled $243.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (14.8%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO TEACH CHILDREN THE SPORT OF BASKETBALL AND TO CONCURRENTLY PROMOTE CHARACTER BUILDING AND REDUCE JUVENILE DELINQUENCY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES EQUIPMENT AND QUALIFIED INSTRUCTORS AND ORGANIZES BASKETBALL TOURNAMENTS FOR BOYS AGE 10-19 IN ORDER TO TEACH BASKETBALL AND PROMOTE CHARACTER BUILDING TO REDUCE THE INCIDENCE OF JUVENILE DELINQUINCY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William T Hensley CEO | OfficerTrustee | 10 | $0 |
Mark Burks Director | OfficerTrustee | 10 | $0 |
Christopher Ponce Director | OfficerTrustee | 10 | $0 |
Jared Quarles President | Officer | 10 | $0 |
Nancy Czuk Secretary/treasurer | Officer | 10 | $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 | $177,008 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $177,008 |
| Total Program Service Revenue | $0 |
| 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 | $177,008 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $243,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,648 |
| 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 | $64,648 |
| 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 | $115,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $115,000 |
| Net assets without donor restrictions | $0 |
| 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 | -$50,352 |
| Total liabilities and net assets/fund balances | $64,648 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Gym Rats Inc has recieved totaling $1,200.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: CHILDREN AND YOUTH SERVICES | $1,200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Association Of Basketball Coaches Kansas City, MO | $7,492,975 | $6,879,648 |
Forum Of Christian Leaders Wheaton, IL | $307,653 | $1,435,931 |
Lake Of The Ozarks Shootout Sunrise Beach, MO | $47,312 | $973,884 |
Knights Basketball Academy Midwest St Charles, MO | $215,472 | $572,008 |
Kentucky Cobras Inc Florence, KY | $27,896 | $450,667 |
Ignite Hoops Arlington Heights, IL | $158,269 | $413,630 |
Wisconsin Basketball Coaches Association Cuba City, WI | $470,993 | $294,847 |
Kentucky All A Classic Inc Mt Washington, KY | $190,769 | $310,106 |
24up Inc New Berlin, WI | $173,156 | $373,384 |
Naperville Youth Basketball Association Inc Naperville, IL | $91,329 | $255,872 |
Yanders Law Springfield, MO | $182,701 | $285,827 |
Wisconsin Blizzard Basketball Inc Greenville, WI | $47,098 | $270,677 |