Civic Intelligence

Valley Shore YMCA Inc

990 • Fiscal year 2014 • EIN 06-0646979

Jan 01, 2014 to Dec 31, 2014 • Filed on Sep 29, 2015

PO Box 694Westbrook, CT 06498

(860) 399-9622

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

82nd percentile

0.60x

Higher debt load relative to assets than 82% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

81st percentile

0.71x

Higher debt load relative to revenue than 81% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

48th percentile

2.2%

Higher net margin than 48% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

81st percentile

$136,117

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

23rd percentile

-3.9%

Faster asset growth than 23% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

44th percentile

1.6%

Faster revenue growth than 44% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Down

$3,544,336

Down $145,313 (-3.9%) from 2013

Net Assets

Up

$1,411,671

Up $64,709 (+4.8%) from 2013

Liabilities

Down

$2,132,665

Down $210,022 (-9.0%) from 2013

Revenue

Up

$2,992,940

Up $48,008 (+1.6%) from 2013

Expenses

Down

$2,928,231

Down $233,770 (-7.4%) from 2013

Net Income

Up

$64,709

Up $281,778 (+130%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $4,259,440Liabilities 2010: $2,220,553Net Assets 2010: $2,038,8872010Assets 2011: $3,945,359Liabilities 2011: $2,051,103Net Assets 2011: $1,894,2562011Assets 2012: $3,612,924Liabilities 2012: $2,049,259Net Assets 2012: $1,563,6652012Assets 2013: $3,689,649Liabilities 2013: $2,342,687Net Assets 2013: $1,346,9622013Assets 2014: $3,544,336Liabilities 2014: $2,132,665Net Assets 2014: $1,411,6712014Assets 2015: $3,461,793Liabilities 2015: $2,016,513Net Assets 2015: $1,445,2802015Assets 2016: $3,468,542Liabilities 2016: $1,837,721Net Assets 2016: $1,630,8212016Assets 2017: $3,404,163Liabilities 2017: $1,659,233Net Assets 2017: $1,744,9302017Assets 2018: $3,869,228Liabilities 2018: $1,509,072Net Assets 2018: $2,360,1562018Assets 2019: $4,347,921Liabilities 2019: $1,418,334Net Assets 2019: $2,929,5872019Assets 2020: $4,569,314Liabilities 2020: $1,802,694Net Assets 2020: $2,766,6202020Assets 2021: $6,670,057Liabilities 2021: $1,592,624Net Assets 2021: $5,077,4332021Assets 2022: $6,220,981Liabilities 2022: $1,326,019Net Assets 2022: $4,894,9622022Assets 2023: $6,318,502Liabilities 2023: $1,280,907Net Assets 2023: $5,037,5952023Assets 2024: $6,567,711Liabilities 2024: $1,354,458Net Assets 2024: $5,213,2532024

Highlighted filing

2014

Assets$3,544,336
Liabilities$2,132,665
Net Assets$1,411,671

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $3,589,7452010Expenses 2011: $3,034,0482011Expenses 2012: $3,255,6342012Revenue 2013: $2,944,932Expenses 2013: $3,162,001Net Income 2013: -$217,0692013Revenue 2014: $2,992,940Expenses 2014: $2,928,231Net Income 2014: $64,7092014Revenue 2015: $2,768,556Expenses 2015: $2,694,632Net Income 2015: $73,9242015Revenue 2016: $2,853,216Expenses 2016: $2,625,964Net Income 2016: $227,2522016Revenue 2017: $2,949,336Expenses 2017: $2,810,903Net Income 2017: $138,4332017Revenue 2018: $3,425,216Expenses 2018: $2,809,990Net Income 2018: $615,2262018Revenue 2019: $3,363,403Expenses 2019: $2,793,972Net Income 2019: $569,4312019Revenue 2020: $1,780,649Expenses 2020: $1,943,616Net Income 2020: -$162,9672020Revenue 2021: $4,398,865Expenses 2021: $2,086,203Net Income 2021: $2,312,6622021Revenue 2022: $2,545,298Expenses 2022: $2,727,769Net Income 2022: -$182,4712022Revenue 2023: $3,167,459Expenses 2023: $3,024,826Net Income 2023: $142,6332023Revenue 2024: $3,637,804Expenses 2024: $3,472,848Net Income 2024: $164,9562024

Highlighted filing

2014

Revenue$2,992,940
Expenses$2,928,231
Net Income$64,709
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Sep 29, 2015
Return Version
2014v5.0
Gross Receipts
$3,025,872
Mission and Program Overview

Mission

The mission of the Valley Shore YMCA, Inc. is to develop and encourage the growth of all individuals in spirit, mind and body in an atmosphere of mutual respect. Our areas of focus are youth development, healthy living and social responsibility.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,532,852$3,345,501▼ $187,351
Cash and Non-Interest-Bearing Accounts$94,025$139,080▲ $45,055
Prepaid Expenses and Deferred Charges$26,391$32,214▲ $5,823
Accounts Receivable$14,909$14,977▲ $68
Investments in Publicly Traded Securities$5,089$8,525▲ $3,436
Intangible Assets$3,883$3,679▼ $204
Pledges and Grants Receivable$12,500$360▼ $12,140
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Inventories for Sale or Use-$0-
Total Assets$3,689,649$3,544,336▼ $145,313
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,898,272$1,849,637▼ $48,635
Accounts Payable and Accrued Expenses$283,023$154,916▼ $128,107
Deferred Revenue$145,203$112,628▼ $32,575
Escrow Account Liability$16,189$15,484▼ $705
Total Liabilities$2,342,687$2,132,665▼ $210,022
Net Assets / Fund Balance
Unrestricted Net Assets$1,273,484$1,293,454▲ $19,970
Temporarily Rstr Net Assets$73,478$118,217▲ $44,739
Total Net Assets Fund Balance$1,346,962$1,411,671▲ $64,709
Total Liabilities and Net Assets / Fund Balance$3,689,649$3,544,336▼ $145,313

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,996,405$3,323,148$6,319,553
Equipment$251,381$479,849$731,230
Land$70,000-$70,000
Other Land Buildings$27,715$20,253$47,968
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Chris PallattoExecutive DirectorFT$121,096$15,021$136,117

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$270,852
Program Service Revenue
$2,644,158
Investment Income
$236
Other Revenue
$77,694
All Other Contributions
$228,650
Change in Net Assets
$64,709

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,992,940
Revenue Not Reported on Form 990
$-93,682
Total Revenue per Audited Statements
$2,899,258
Total Revenue per Form 990
$2,992,940
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,550,420
Other Expenses$1,284,129
Grants and Similar Amounts Paid$93,682
Total Fundraising Expense$46,858
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,112,690$68,126$1,550$1,182,366
Depreciation Depletion$283,056$1,430$1,430$285,916
Payroll Taxes$215,946$21,463$3,005$240,414
Current Officers, Directors, Trustees, and Key Employees$59,074$38,292$30,274$127,640
Grants to Domestic Individuals$93,682--$93,682
Interest$89,733$453$453$90,639
All Other Expenses$69,999$6,206$5,480$81,685
Fees for Services Other$44,678$34,697$579$79,954
Other Expenses$43,758$3,974$1,188$48,920
Advertising$43,218$2,313$61$45,592
Insurance$43,864$222$222$44,308
Travel$10,857$3,487$11$14,355
Total Functional Expenses$2,674,331$207,042$46,858$2,928,231

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,928,231
Expenses per Audited Statements$2,834,549
Total Expenses per Audited Statements$2,834,549
Expenses Not Reported on Financial Statements$93,682
Other Expense Adjustments$93,682
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$110,626
Fundraising Direct Expenses$32,932
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Classic$65,333$65,333$19,934$45,399
Spin-a-thon$19,457$19,457-$19,457
Total Events$109,864$109,864$32,932$76,932
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
William McminnDirectorPrinting ServicesNo$20,096

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

Each member of the board receives a copy of the 990 before filing. After review, the board votes on approval of the form. Once approved, it is then filed.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Under leadership of the board chairperson, the executive committee periodically reviews the conflict of interest forms submitted by board members.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The ceo submits a chart of work to the board of directors at the beginning of the year. At the end of the year, the executive committee evaluates how well those objectives were accomplished during the year and discusses the evaluation with the full board of directors in a closed meeting. The evaluation is then discussed and delivered to the ceo.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The audited financial statements are made available to the public on our website.

Filing and Contact Details

Filer

Filer Name
Valley Shore Ymca
EIN
06-0646979
Phone
8603999622
Address
PO BOX 694, WESTBROOK, CT 06498

Signing Officer

Name
Chris Pallatto
Title
Executive Director
Signed
2015-09-29
Discuss with paid preparer
Yes

Organization Details

Formed
1917
Legal Domicile
Ct
Voting Board Members
24
Independent Board Members
23
Employees
197
Volunteers
182

Preparer

Firm
Lewitz Balosie Wollack Rayner & Giroux LLC
Address
36 Elm St, Old Saybrook, CT 06475
Preparer
Dennis M Giroux CPA
Phone
8603884451
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES

Youth developmentour ymca is committed to nurturing the potential of every child and teen. We believe that all kids deserve the opportunity to discover who they are and what they can achieve. That's why we help young people cultivate the values, skills, and relationships that lead to positive behaviors, better health, and educational achievement. Our ymca programs, such as before and after school care, summer camp, youth enrichment, and summer of service offer a range of experiances that enrich cognitive, social, physical, and emotional growth. Expenses included subsidies and direct financial assistance that make participation possible for many of the young people we engage.healthy livingthe y is a leading voice on health and well-being. We bring families closer together, encourage good health, and foster connections through fitness, sports, fun, and shared interests. As a result 7,000 people in our community are receiving the support, guidance, and resources they need to achieve greater health in spirit, mind, and body. This is particularly important as our nation struggles with an obesity crisis, families struggle with work/life balance, and individuals search for personal fulfillment. Our programs are accessible, affordable, and open to all faiths,backgrounds, abilities, and income levels. In 2014 we provided over $93,000 in financial assistance to people who otherwise may not have been able to afford to participate. Additionally, we offered hope is power, a free 12-week program to more than thirty cancer survivors to help them overcome the fatigure and deconditioning of cancer and its treatment.social responsibilityour ymca believes in giving back and supporting our neighbors. We have been listening and responding to our community's most critical social needs for more than 96 years. Y programs and initiatives, such as providing free showers to our community after hurricanes, offering cpr and first aid training, and providing free memberships for active military families are examples of how we deliver training, resources and support that empower our neighbors to effect change, bridge gaps, and overcome obstacles. In 2014 we built a 4,000 square foot community garden and delivered over 2,000 pounds of fresh produce to our local food pantry. In 2014, we engaged 180 ymca members, particiapnts, and volunteers in activities that strengthen our community and pave the way for future generations to thrive. Together they have provided over 4,000 volunteer hours.

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

The organization has a custodial account for a parents organization related to one of its programs.

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

Noncash scholarships $93682

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IRS990/Desc0HEALTHY LIVINGOUR ACTIVE OLDER ADULT CLASSES PROVIDE OPPORTUNITIES FOR THE 30% OF OUR SENIOR MEMBERS TO SOCIALIZE, IMPROVE THEIR PHYSICAL FITNESS TO BE ABLE TO LEAD MORE ACTIVE AND PRODUCTIVE LIVES IN RETIREMENT, INCLUDING PERFORMING ROUTINE HOUSEHOLD ACTIVITIES, TRAVEL, PURSUE HOBBIES, AND ACTIVELY ENGAGE WITH FAMILY, PARTICULARLY GRANDCHILDREN. WE OFFER SPECIALLY DESIGNED WATER AND LAND BASED ACTIVITIES FOR ALL OF OUR DIFFERENT MEMBER POPULATIONS. APPROXIMATELY 50% OF OUR SENIORS WERE ON A NO-COST OR LOW-COST PLAN TO THEM WHICH IS HIGHLY SUBSIDIZED BY OUR MEMBERSHIP.80% OF AMERICANS ARE CONSIDERED "HEALTH SEEKERS," INDIVIDUALS WHO STRUGGLE TO MAKE HEALTH AND WELLNESS A PRIORITY AND REGULAR PART OF THEIR DAILY ACTIVITIES. WE PROVIDE THE SUPPORT AND ENVIRONMENT NEEDED TO HELP MEMBERS DEVELOP ROUTINES, SUPPORT NETWORKS, AND PROPER ACTIVITY LEVELS TO IMPROVE THEIR OVERALL HEALTH. WE PROVIDE A VARIETY OF CLASSES, SPORTS LEAGUES, INSTRUCTION, AND WELLNESS ACTIVITIES, INCLUDING SWIMMING, TO ENSURE THAT MEMBERS CAN MAINTAIN AN EFFECTIVE LIFESTYLE. WE TAKE SPECIAL PRIDE WITH THE EFFORT WE PUT FORTH TO HELP MEMBERS BUILD RELATIONSHIPS THAT MOTIVATE THEM TO COME TO THE YMCA.WE BELIEVE THAT LIFELONG WELLNESS STARTS WITH LEARNING TO LOVE PHYSICAL ACTIVITIES OF ALL SORTS FROM AN EARLY AGE. FOR THIS REASON, WE OFFER A WIDE RANGE OF ACTIVITIES TO ENGAGE THE BODIES OF CHILDREN OF ALL AGES. WE OFFER SWIM LESSONS AND COMPETITIVE SWIMMING, YOUTH SPORTS INSTRUCTION (SOCCER, BASKETBALL, GYMNASTICS, RUNNING, AND MORE), AND RECREATIONAL PLAY AT OUR YMCA AND AT VARIOUS LOCATIONS IN TTHE TOWNS WE SERVE.
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IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt21Director
IRS990/Form990PartVIISectionAGrp/TitleTxt22Director
IRS990/Form990PartVIISectionAGrp/TitleTxt23Vice President
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IRS990/MissionDesc0The Mission of the Valley Shore YMCA, Inc. is to develop and encourage the growth of all individuals in spirit, mind and body in an atmosphere of mutual respect. Our areas of focus are youth development, healthy living and social responsibility.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.57$1.35$5.21$3.64$3.47$0.16
2023Detailed filing. Detailed filing data is available for this year.$6.32$1.28$5.04$3.17$3.02$0.14
2022Detailed filing. Detailed filing data is available for this year.$6.22$1.33$4.89$2.55$2.73$0.18
2021Detailed filing. Detailed filing data is available for this year.$6.67$1.59$5.08$4.40$2.09$2.31
2020Detailed filing. Detailed filing data is available for this year.$4.57$1.80$2.77$1.78$1.94$0.16
2019Detailed filing. Detailed filing data is available for this year.$4.35$1.42$2.93$3.36$2.79$0.57
2018Summary only. Only limited summary data is available for this year.$3.87$1.51$2.36$3.43$2.81$0.62
2017Detailed filing. Detailed filing data is available for this year.$3.40$1.66$1.74$2.95$2.81$0.14
2016Detailed filing. Detailed filing data is available for this year.$3.47$1.84$1.63$2.85$2.63$0.23
2015Detailed filing. Detailed filing data is available for this year.$3.46$2.02$1.45$2.77$2.69$0.07
2014Detailed filing. Detailed filing data is available for this year.$3.54$2.13$1.41$2.99$2.93$0.06
2013Summary only. Only limited summary data is available for this year.$3.69$2.34$1.35$2.94$3.16$0.22
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.61$2.05$1.56$3.26
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.95$2.05$1.89$3.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.26$2.22$2.04$3.59