Cherry Blossom Inc
- Assets
- $848.7k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Bethesda, MD
- Founding
- 12/2005
- Data as of
- 10/2020
- EIN
- 52-1640318
Organization Overview
Cherry Blossom Inc is located in Bethesda, MD. The organization was established in 2005. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., under the broad grouping of Recreation & Sports and related organizations. As of 10/2020, Cherry Blossom Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cherry Blossom 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 10/2020, Cherry Blossom Inc generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $952.3k during the year ending 10/2020. As we would expect to see with falling revenues, expenses have declined by (8.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Cherry Blossom Inc has awarded 12 individual grants totaling $105,400. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE HEALTH AND FITNESS THROUGH EDUCATION AND ATHLETIC COMPETITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ANNUALLY CONDUCTS A RUNNING EVENT FORMALLY TITLED "THE CREDIT UNION CHERRY BLOSSOM TEN MILE RUN," WHICH CONSISTS OF THREE ELEMENTS: A TEN-MILE RUN, A FIVE KILOMETER RUN-WALK, AND A HALF MILE CHILDREN'S RUN. DUE TO THE IMPACT OF COVID-19, THE IN-PERSON EVENT WAS CANCELLED AND A VIRTUAL EVENT WAS HELD INSTEAD. 1,905 TEN-MILE VIRTUAL PARTICIPANTS AND 877 FIVE-KILOMETER VIRTUAL PARTICIPANTS TOOK PART IN ACTIVITIES THAT PROMOTED THEIR HEALTH AND FITNESS, PROVIDED AN ENJOYABLE EXPERIENCE AND HELPED FIGHT CONCERNS OVER THE GROWING OBESITY CRISIS IN THE UNITED STATES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phil Stewart Event Director | 40 | $120,000 | |
Becky Lambros Deputy Director | 40 | $110,000 | |
Nita Roncone At-Large Director | Trustee | 1 | $6,500 |
Michelle Carter Secretary | OfficerTrustee | 1 | $5,000 |
Rob Wolfe Treasurer | OfficerTrustee | 1 | $3,000 |
Irv Newman President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $244,741 |
| Investment income | $7,321 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $193,338 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,212,543 |
| Statement of Expenses | |
|---|---|
| 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. | $14,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $271,175 |
| Pension plan accruals and contributions | $14,521 |
| Other employee benefits | $0 |
| Payroll taxes | $20,275 |
| Fees for services: Management | $37,395 |
| Fees for services: Legal | $2,998 |
| Fees for services: Accounting | $16,756 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,914 |
| Advertising and promotion | $7,311 |
| Office expenses | $39,311 |
| Information technology | $44,166 |
| Royalties | $0 |
| Occupancy | $90,230 |
| Travel | $25,939 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $214,582 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,990 |
| All other expenses | $0 |
| Total functional expenses | $952,328 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $848,727 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $848,727 |
| 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 | $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 |
| Total liabilities and net assets/fund balances | $848,727 |
Grants Awarded
Over the last fiscal year, Cherry Blossom Inc has awarded $26,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Arlington, VA PURPOSE: ROADS SCHOLARSHIP PROGRAM | $10,500 |
Bethesda, MD PURPOSE: SUPPORT CLEAN SPORT INITIATIVE | $10,000 |
Washington, DC PURPOSE: FESTIVAL SUPPORT | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cherry Blossom Inc has recieved totaling $130,000.
| Awarding Organization | Amount |
|---|---|
Credit Union Miracle Day Committee Inc Washington, DC PURPOSE: CHILDREN'S HOSPITAL CHARITY | $130,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southeastern Virginia Areawide Model Program Inc Norfolk, VA | $2,843,692 | $8,738,729 |
Metropolitan Richmond Sports Backers Inc Richmond, VA | $2,872,546 | $6,713,495 |
Sport And Entertainment Corporation Of Maryland Baltimore, MD | $53,419 | $1,410,259 |
Laurel Highlands Ligonier, PA | $9,995,015 | $2,370,476 |
Bike To The Beach Washington, DC | $0 | $1,888,538 |
American Recreation Coalition Washington, DC | $671,840 | $1,140,717 |
Williamsport Volunteer Fire And Emergency Medical Services Inc Williamsport, MD | $4,234,781 | $1,522,798 |
Vysa For Land Preservation Fredericksburg, VA | $6,332,662 | $617,000 |
Cherry Blossom Inc Bethesda, MD | $848,727 | $1,212,543 |
Riverside Camping Assn Lancaster, PA | $1,315,552 | $1,190,999 |
South County Athletic Association Lorton, VA | $414,265 | $1,243,554 |
Big Picture Alliance Philadelphia, PA | $507,623 | $596,811 |