Philadelphia Boys Gymnastics
- Assets
- -$52.8k
- Revenue
- $394.7k
- Investments
- $0.0
- Employees
- 20
- Location
- Philadelphia, PA
- Founding
- 09/2011
- Data as of
- 06/2023
- EIN
- 45-2736378
Organization Overview
Philadelphia Boys Gymnastics is located in Philadelphia, PA. The organization was established in 2011. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 06/2023, Philadelphia Boys Gymnastics employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philadelphia Boys Gymnastics 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 06/2023, Philadelphia Boys Gymnastics generated $394.7k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $447.5k during the year ending 06/2023. While expenses have increased by 21.0% per year over the past 4 years. They've been increasing with an increasing level of total revenue. 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
TO OPERATE A PROGRAM TO PROVIDE PHILADELPHIA AREA YOUTH WITH A QUALITY TRAINING AND COMPETITIVE EXPERIENCE IN BOYS' GYMNASTICS. IN JANUARY, 2021, WE ADDED TRAINING FOR BEGINNER GIRLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
350+ STUDENTS PARTICIPATED IN 2022-23. WE SENT 19 BOYS WENT TO THE STATE CHAMPIONSHIPS AND PRODUCED SEVERAL STATE CHAMPIONS PLUS OUR BOYS WON NUMEROUS MEDALS. TWO BOYS QUALIFIED FOR THE EASTERN NATIONAL CHAMPIONSHIPS. OUR TEAM WAS RECOGNIZED AS THE #2 PROGRAM IN PENNSYLVANIA.
WE WERE ABLE TO GET A GRANT FROM AN OUTSIDE ORGANIZATION FOR $10,000 TO HELP PAY FOR BACK RENT AS WE WERE CLOSED FOR 6 MONTHS IN THE PAST CALENDAR YEAR 2020 DUE TO THE PANDEMIC-IMPOSED RULES MADE BY THE CITY OF PHILADELPHIA. WE ARE STILL BEHIND IN RENT AND ARE PAYING IT OFF SLOWLY. WE EXPECT TO SETTLE THIS DEBT IN THE NEXT FISCAL YEAR.
OUR PROGRAM FOR BEGINNER GIRLS SERVICED OVER 175 STUDENTS.
WE ALSO ALLOCATED RESOURCES TO THE SAVE TEMPLE UNIVERSITY MEN'S GYMNASTICS FUND IN THE PHILADELPHIA FOUNDATION. THAT ENDOWMENT DONATED $32,700 TO US TO PAY THE TEMPLE U MEN'S GYMNASTICS COACHES FOR SERVICES, AS TEMPLE U TERMINATED THAT VARSITY PROGRAM ON JUNE 30, 2014. WE CONTINUED TO SOLICIT GRANTS FROM FOUNDATIONS AND HAD SOME SUCCESS IN GETTING EXTRA FUNDS WHICH ALLOWED US TO PURCHASE NEW EQUIPMENT TO MAKE OUR TRAINING AREA SAFER AND MORE UP-TO-DATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Turoff Program Director | Officer | 25 | $49,621 |
Walter T Kenney Coach | Officer | 32 | $48,027 |
Jesse Kitzen-Abelson Coach | Officer | 20 | $34,638 |
Nia Allen Coach | Officer | 17 | $13,321 |
Nyla Welsh Coach | Officer | 12 | $9,902 |
Thomas C Gibbs President | Officer | 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 | $48,160 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $48,160 |
| Total Program Service Revenue | $346,578 |
| 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 | $394,738 |
| 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. | $155,508 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $40,529 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $50,106 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,317 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,875 |
| Office expenses | $3,126 |
| Information technology | $1,416 |
| Royalties | $0 |
| Occupancy | $161,306 |
| Travel | $578 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,034 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,543 |
| All other expenses | $0 |
| Total functional expenses | $447,515 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | -$52,777 |
| Total assets | -$52,777 |
| 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 | -$52,777 |
| 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 | -$52,777 |