Carolina Velocity Futbol Club Inc
- Assets
- $361.3k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 16
- Location
- Raleigh, NC
- Founding
- 06/2016
- Data as of
- 12/2021
- EIN
- 81-2169463
Organization Overview
Carolina Velocity Futbol Club Inc is located in Raleigh, NC. The organization was established in 2016. According to its NTEE Classification (N64) the organization is classified as: Soccer, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Carolina Velocity Futbol Club Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina Velocity Futbol Club 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, Carolina Velocity Futbol Club Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 36.3% each year . All expenses for the organization totaled $884.0k during the year ending 12/2021. While expenses have increased by 36.2% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
AMATEUR SOCCER CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
AMATEUR SOCCER CLUB
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kris Lamb President | Officer | $0 | |
Ciaran Mcardle Vice Preside | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $66,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,387 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $99,487 |
| Total Program Service Revenue | $1,014,204 |
| 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 | $1,113,691 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $305,276 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $63,106 |
| Payroll taxes | $24,706 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,750 |
| Fees for services: Accounting | $7,422 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,935 |
| Advertising and promotion | $4,297 |
| Office expenses | $6,483 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $102,211 |
| Travel | $3,892 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,455 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $68,909 |
| All other expenses | $51,557 |
| Total functional expenses | $884,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $352,235 |
| 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 | $60 |
| 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 | $8,997 |
| Total assets | $361,292 |
| Accounts payable and accrued expenses | $5,173 |
| 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 | $153,797 |
| Other liabilities | $0 |
| Total liabilities | $158,970 |
| Net assets without donor restrictions | $202,322 |
| 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 | $361,292 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Carolina Velocity Futbol Club Inc has recieved totaling $11,000.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $11,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Capital Area Soccer League Inc Raleigh, NC | $15,967,738 | $13,846,448 |
Nc Triad Fusion Inc Bermuda Run, NC | $14,278,028 | $8,923,871 |
Carolinas Football Club Cornelius, NC | $1,803,647 | $7,874,250 |
Charlotte Soccer Academy Pineville, NC | $10,553,353 | $8,684,226 |
Richmond Strikers Soccer Club Inc Glen Allen, VA | $6,484,910 | $7,892,282 |
Loudoun Youth Soccer Association Leesburg, VA | $8,456,614 | $7,397,666 |
Nasa Tophat Inc Kennesaw, GA | $5,043,211 | $7,270,572 |
Arlington Soccer Association Inc Arlington, VA | $7,101,878 | $5,587,943 |
Cobb Futbol Club Marietta, GA | $5,753,138 | $5,185,277 |
Alexandria Soccer Association Inc Alexandria, VA | $6,235,592 | $5,465,888 |
United Futbol Academy Inc Cumming, GA | $562,305 | $4,953,862 |
Atlanta Concorde Fire Soccer Association Inc Atlanta, GA | $1,822,580 | $4,589,073 |