New Mexico Karate Association Inc
- Assets
- $20.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Albuquerque, NM
- Founding
- 01/1995
- Data as of
- 12/2022
- EIN
- 85-0415080
Organization Overview
New Mexico Karate Association Inc is located in Albuquerque, NM. The organization was established in 1995. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, 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. New Mexico Karate Association Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, New Mexico Karate Association Inc generated $75.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (9.8%) each year. All expenses for the organization totaled $71.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (10.5%) per year over the past 4 years. 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
2022
Describe the Organization's Program Activity:
Part 3
TRAINING IN TRADITIONAL JKA STYLE KARATE, ORGANIZATION OF DOJO TOURNAMENTS, PARTICIPATION IN REGIONAL AND NATIONAL CAMPS, EXAMINATION FOR RANKING AND QUALIFICATIONS, INSTRUCTOR TRAINING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Sollins President, Director | 0 | $0 | |
Albert Thiel Treasurer, Director | 1 | $0 | |
Richard Alberti Secretary, Director | 0.2 | $0 | |
Yasuaki Nagatomo Chief Instructor | 40 | $5,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $500 |
| Total Program Service Revenue | $15,376 |
| Membership dues | $59,809 |
| Investment income | $2 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $75,687 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $5,598 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $43,713 |
| Printing, publications, postage, and shipping | $124 |
| Other expenses | $22,034 |
| Total expenses | $71,469 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $20,756 |
| Other assets | $0 |
| Total assets | $20,756 |
| Total liabilities | $58,000 |
| Net assets or fund balances | -$37,244 |