Formula Elite Inc
- Assets
- $0.0
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Chatsworth, CA
- Founding
- 11/2015
- Data as of
- 12/2021
- EIN
- 46-5191204
Organization Overview
Formula Elite Inc is located in Chatsworth, CA. The organization was established in 2015. 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. Formula Elite 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, Formula Elite Inc generated $119.3k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 65.4% each year . All expenses for the organization totaled $119.3k during the year ending 12/2021. While expenses have increased by 65.4% per year over the past 2 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
GIVING THE NOT AS FORTUNATE YOUTH THE OPPORTUNITY TO PLAY THE SPORTS THEY MAY NEVER HAVE HAD THE CHANCE WITHOUT THE NON PROFIT'S ASSISTANCE.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $119,324 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $119,324 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $119,324 |
| Total expenses | $119,324 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Total liabilities | $0 |
| Net assets or fund balances | $0 |
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