Newtown Youth Academy Inc
- Assets
- $6.7m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Newtown, CT
- Founding
- 08/2007
- Data as of
- 12/2022
- EIN
- 45-0547484
Organization Overview
Newtown Youth Academy Inc is located in Newtown, CT. The organization was established in 2007. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newtown Youth Academy 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 12/2022, Newtown Youth Academy Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING INDOOR SPORTS FACILITY AND PROGRAMS TO NEWTOWN AREA YOUTH AND AMATEUR SPORTS TEAMS AND LEAGUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Conway Director | 30 | $60,000 | |
William Manfredonia Director | 1 | $0 | |
Francis Pennarola Director, Secretary | 1 | $0 | |
Stephen Conte Director | 1 | $0 | |
Salvatore D'amico Director, President | 1 | $0 | |
Ian T Yorty Executive Director | 45 | $78,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,926 |
| Interest on Savings | $126 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,618,961 |
| Total Revenue | $1,630,013 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $60,000 |
| Other employee salaries and wages | $542,794 |
| Pension plans, employee benefits | $73,903 |
| Interest | $179,382 |
| Taxes | $0 |
| Depreciation | $230,725 |
| Occupancy | $303,890 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $288,814 |
| Total operating and administrative expenses | $1,726,875 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,726,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,106 |
| Savings and temporary cash investments | $113,711 |
| Net Accounts receivable | $5,249 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $5,919,007 |
| Other assets | $554,339 |
| Total assets | $6,655,412 |
| Accounts payable and accrued expenses | $136,568 |
| Grants payable | $0 |
| Deferred revenue | $85,840 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $422,237 |
| Mortgages and other notes payable | $5,043,910 |
| Other liabilities | $248,609 |
| Total liabilities | $5,937,164 |
Grants Awarded
Over the last fiscal year, Newtown Youth Academy Inc has awarded $2,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ELIZABETH POSENO PURPOSE: SCHOLARSHIP | $500 |
JACQUELYN MATTHEWS PURPOSE: SCHOLARSHIP | $500 |
SAMANTHA BICHO PURPOSE: SCHOLARSHIP | $500 |
NAHIR SOMAN PURPOSE: SCHOLARSHIP | $500 |
JONATHAN NAHMIAS PURPOSE: SCHOLARSHIP | $500 |