Indiana Basketball Hall Of Fame Foundation Inc
- Assets
- $5.1m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 10
- Location
- New Castle, IN
- Founding
- 12/1965
- Data as of
- 06/2021
- EIN
- 35-6054160
Organization Overview
Indiana Basketball Hall Of Fame Foundation Inc is located in New Castle, IN. The organization was established in 1965. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Indiana Basketball Hall Of Fame Foundation Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indiana Basketball Hall Of Fame Foundation 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, Indiana Basketball Hall Of Fame Foundation Inc generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $503.5k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROMOTE THE EDUCATIONAL AND CHARITABLE PURPOSES OF THE INDIANA BASKETBALL HALL OF FAME AND TO PRESERVE FOR FUTURE GENERATIONS THE HISTORY OF INDIANA HIGH SCHOOL BASKETBALL.
Describe the Organization's Program Activity:
HALL OF FAME BANQUET-THE ANNUAL MEN'S AND WOMEN'S AWARDS BANQUET IS A CELEBRATION OF OUR STATE'S BASKETBALL HERITAGE, AND A REUNION OF ITS GREATEST STARS. EACH YEAR THE PROGRAM HONORS THE NEWEST INDUCTEES,INCLUDING THE SILVER MEDAL RECIPIENT, AND BRINGS TOGETHER A SILVER ANNIVERSARY TEAM OF THE BEST GRADUATING HIGH SCHOOL SENIORS FROM 25 YEARS AGO. THE STATE CHAMPIONSHIP TEAMS OF 25, 50, AND 100 YEARS AGO ARE RECOGNIZED AND OUTSTANDING OFFICIALS ARE RECOGNIZED AS RECIPIENTS OF THE CENTER CIRCLE OFFICIALS AWARD. HALL OF FAME BASKETBALL TOURNAMENT-SELECTING FROM THE BEST INDIANA HAS TO OFFER, THE HALL OF FAME CLASSIC TOURNAMENT IS THE MOST PRESTIGIOUS IN-SEASON TOURNAMENT IN THE STATE AND HAS INCLUDED THE BEST TEAMS, PLAYERS, COACHES, AND FANS OF INDIANA HIGH SCHOOL BOYS AND GIRLS BASKETBALL.
MUSEUM-A 14,000 SQUARE FOOT MUSEUM FEATURES NOT ONLY THE MEN, WOMEN, AND TEAMS THAT HAVE BROUGHT RECOGNITION TO THEMSELVES, THEIR COMMUNITIES AND SCHOOLS, BUT A NUMBER OF INTERACTIVE EXHIBITS THAT WILL BRING YOU CLOSER TO THE ACTION OF INDIANA HIGH SCHOOL BASKETBALL!
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris May Executive Director | Officer | 40 | $90,000 |
Ray Pavy Treasurer | OfficerTrustee | 2 | $0 |
Steve Witty Past President | OfficerTrustee | 2 | $0 |
John Heaton Vice President-Central | OfficerTrustee | 2 | $0 |
Bill Walker Vice President-North | OfficerTrustee | 2 | $0 |
Donna Sullivan Secretary | OfficerTrustee | 2 | $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 | $533,508 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $533,508 |
| Total Program Service Revenue | $162,071 |
| Investment income | $151,769 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $243,458 |
| Net Income from Fundraising Events | $61,638 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,895 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,207,689 |
| 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. | $90,000 |
| Compensation of current officers, directors, key employees. | $22,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $141,289 |
| Pension plan accruals and contributions | $4,449 |
| Other employee benefits | $0 |
| Payroll taxes | $18,620 |
| 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 | $2,400 |
| Advertising and promotion | $11,892 |
| Office expenses | $4,946 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,878 |
| 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 | $79,234 |
| Insurance | $10,638 |
| All other expenses | $35,546 |
| Total functional expenses | $503,486 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $760,741 |
| 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 | $18,062 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $721,955 |
| Investments—publicly traded securities | $3,645,147 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,145,905 |
| 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 | $59,661 |
| Other liabilities | $694 |
| Total liabilities | $60,355 |
| Net assets without donor restrictions | $5,085,550 |
| 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 | $5,145,905 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Indiana Basketball Hall Of Fame Foundation Inc has recieved totaling $15,132.
| Awarding Organization | Amount |
|---|---|
American Endowment Foundation Hudson, OH PURPOSE: GENERAL OPERATING SUPPORT | $15,000 |
Max L Gibson & Jacqueline Gibson Foundation Terre Haute, IN PURPOSE: GENERAL SUPPORT | $100 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $32 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Crosswater Canyon Inc Petersburg, KY | $131,093,453 | $43,029,126 |
Johnny Morris Wonders Of Wildlife Foundation Springfield, MO | $84,645,334 | $34,583,902 |
Adler Planetarium Chicago, IL | $62,060,707 | $24,242,958 |
Milwaukee Public Museum Inc Milwaukee, WI | $17,354,362 | $14,883,405 |
National Corvette Museum Foundation Inc Bowling Green, KY | $80,229,990 | $15,403,313 |
Eiteljorg Museum Of American Indians And Western Art Inc Indianapolis, IN | $95,582,001 | $21,664,008 |
Kentucky Derby Museum Corporation Louisville, KY | $35,033,343 | $10,633,125 |
Margaret Woodbury Strong Museum Charitable Trust Chicago, IL | $73,980,694 | $7,829,381 |
Peoria Riverfront Museum Peoria, IL | $12,190,456 | $4,223,811 |
Unlimited Opportunities Inc Boonville, MO | $6,714,259 | $4,941,880 |
Muhammad Ali Museum And Education Louisville, KY | $31,131,591 | $4,563,188 |
Lake States Dairy Center Inc Fair Oaks, IN | $6,073,141 | $3,616,020 |