Hit The Books Inc
- Assets
- $1.1m
- Revenue
- $750.1k
- Investments
- $0.0
- Employees
- 11
- Location
- New York, NY
- Founding
- Data as of
- 12/2022
- EIN
- 84-2795993
Organization Overview
Hit The Books Inc is located in New York, NY. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 12/2022, Hit The Books Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hit The Books 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 12/2022, Hit The Books Inc generated $750.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 63.4% each year . All expenses for the organization totaled $754.0k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
HIT THE BOOKS ("HTB") AIMS TO BRING ADDITIONAL EDUCATIONAL RESOURCES TO UNDERSERVED COMMUNITIES THROUGH A SPORTS-BASED DEVELOPMENT APPROACH. SEE FULL MISSION IN SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR THE CHARITABLE PURPOSES OF PROVIDING UNDERPRIVILEGED YOUTH WITH AFTER-SCHOOL BOXING CLASSES, EDUCATIONAL PROGRAMS SUCH AS ACADEMIC TUTORING, AND MENTORSHIP IN ORDER TO HELP THEM DEVELOP OUTSIDE OF THE CLASSROOM PHYSICALLY, INTELLECTUALLY, AND EMOTIONALLY; PROVIDING THEM WITH EDUCATIONAL AND PROFESSIONAL OPPORTUNITIES THAT MAY OTHERWISE PASS THEM BY THROUGH FOSTERING AN ENVIRONMENT OF EDUCATIONAL EQUALITY; AND DEVELOPING INTO A COMMUNITY WITHIN A COMMUNITY WHERE THEY FEEL SAFE AND VIEW THE GYM AS A SECOND HOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kazz Pinkard Board Member/exec Dir-To 5/22 | OfficerTrustee | 1 | $35,553 |
Justin Haber Executive Director | OfficerTrustee | 15 | $0 |
Zachary Levy Board Chair | OfficerTrustee | 15 | $0 |
Phillip Isom Treasurer | OfficerTrustee | 1 | $0 |
Madison Dawkins Secretary | OfficerTrustee | 1 | $0 |
Victor Boadum Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,558 |
| All other contributions, gifts, grants, and similar amounts not included above | $699,576 |
| Noncash contributions included in lines 1a–1f | $30,424 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $750,134 |
| Total Program Service Revenue | $0 |
| 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 | $750,134 |
| 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. | $37,500 |
| Compensation of current officers, directors, key employees. | $1,875 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $252,303 |
| Pension plan accruals and contributions | $4,487 |
| Other employee benefits | $42,955 |
| Payroll taxes | $21,407 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,503 |
| Advertising and promotion | $622 |
| Office expenses | $11,813 |
| Information technology | $7,780 |
| Royalties | $0 |
| Occupancy | $260,755 |
| 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 | $15,386 |
| Insurance | $2,950 |
| All other expenses | $0 |
| Total functional expenses | $753,975 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $169,648 |
| 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 | $651 |
| Net Land, buildings, and equipment | $107,195 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $815,916 |
| Total assets | $1,093,410 |
| Accounts payable and accrued expenses | $10,385 |
| 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 | $792,416 |
| Total liabilities | $802,801 |
| Net assets without donor restrictions | $290,609 |
| 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 | $1,093,410 |