U-Turn
- Assets
- $3.9m
- Revenue
- $886.8k
- Investments
- $0.0
- Employees
- 30
- Location
- Richmond, VA
- Founding
- 04/1997
- Data as of
- 12/2020
- EIN
- 54-1771281
Organization Overview
U-Turn is located in Richmond, VA. The organization was established in 1997. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2020, U-Turn employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. U-Turn 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 12/2020, U-Turn generated $886.8k 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 (6.3%) each year. All expenses for the organization totaled $977.0k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
U-TURN IS A COMMUNITY DEVOTED TO ELEVATING LIVES (THROUGH ATHLETICS, COMMUNITY PROGRAMMING, EVENTS AND NONPROFIT DEVELOPMENT). U-TURN ALSO PROVIDES OFFICE AND MEETING SPACE TO ORGANIZATIONS THAT ALIGNS WITH U-TURN'S CORE VALUES INCLUDING CHURCHES, PARA-CHURCH MINISTRIES AND FOR-PROFIT ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
U-TURN OFFERED CONTINUOUS PROGRAMS, CLASSES AND ACTIVITIES ALONG WITH RELATIONSHIPS WITH ORGANIZATIONS SERVING THE GREATER METRO RICHMOND. U-TURN CONTINUES TO PARTNER WITH NUMEROUS SPORTS AND COMMUNITY ORGANIZATIONS INCLUDING CHURCHES. THE U-TURN FACILITY OFFERS AN ENVIRONMENT WHERE ALL PROGRAMS, CLASSES AND ACTIVITIES ENCOURAGE FELLOWSHIP, INSPIRE LEADERSHIP, AND SPREAD HOPE FOR THE FUTURE OF YOUTH AND FAMILIES IN THE RICHMOND METRO AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adrienne Wright Executive Director | OfficerTrustee | 40 | $87,502 |
Kyle Sherman Secretary | OfficerTrustee | 2 | $0 |
Kevin Salminen Treasurer | OfficerTrustee | 2 | $0 |
Ken Lambiotte Chairman | OfficerTrustee | 2 | $0 |
Daniel Palazzolo Director | Trustee | 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 | $65,594 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $65,594 |
| Total Program Service Revenue | $595,153 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $226,007 |
| 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 | $886,755 |
| 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. | $87,502 |
| Compensation of current officers, directors, key employees. | $78,752 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $254,783 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,063 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,329 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,800 |
| Advertising and promotion | $4,640 |
| Office expenses | $8,323 |
| Information technology | $12,693 |
| Royalties | $0 |
| Occupancy | $56,081 |
| 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 | $107,618 |
| Insurance | $36,574 |
| All other expenses | $17,561 |
| Total functional expenses | $976,954 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $48,278 |
| 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 | $3,898,224 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,946,502 |
| Accounts payable and accrued expenses | $22,928 |
| 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 | $329,967 |
| Other liabilities | $111,967 |
| Total liabilities | $464,862 |
| Net assets without donor restrictions | $3,481,640 |
| 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 | $3,946,502 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that U-Turn has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Thurgood Marshall College Fund Inc Washington, DC | $121,810,471 | $98,266,975 |
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Breakthrough Prize Foundation Washington, DC | $10,581,357 | $48,295,695 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
American Association Of University Women Inc Washington, DC | $138,843,361 | $18,528,803 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |