Civic Intelligence

Valley Shore YMCA Inc

990 • Fiscal year 2015 • EIN 06-0646979

Jan 01, 2015 to Dec 31, 2015 • Filed on Jun 08, 2016

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

81st percentile

0.58x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

81st percentile

0.73x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

50th percentile

2.7%

Higher net margin than 50% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

82nd percentile

$140,806

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

35th percentile

-2.3%

Faster asset growth than 35% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

25th percentile

-7.5%

Faster revenue growth than 25% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$3,461,793

Down $82,543 (-2.3%) from 2014

Net Assets

Up

$1,445,280

Up $33,609 (+2.4%) from 2014

Liabilities

Down

$2,016,513

Down $116,152 (-5.4%) from 2014

Revenue

Down

$2,768,556

Down $224,384 (-7.5%) from 2014

Expenses

Down

$2,694,632

Down $233,599 (-8.0%) from 2014

Net Income

Up

$73,924

Up $9,215 (+14%) from 2014

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

2015

Assets$3,461,793
Liabilities$2,016,513
Net Assets$1,445,280

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

2015

Revenue$2,768,556
Expenses$2,694,632
Net Income$73,924
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jun 8, 2016
Return Version
2015v2.0
Gross Receipts
$2,807,623
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$3,345,501$3,123,485▼ $222,016
Cash and Non-Interest-Bearing Accounts$139,080$162,327▲ $23,247
Pledges and Grants Receivable$360$138,681▲ $138,321
Loans From Officers Directors-$100,000-
Prepaid Expenses and Deferred Charges$32,214$18,044▼ $14,170
Accounts Receivable$14,977$11,184▼ $3,793
Intangible Assets$3,679$3,475▼ $204
Investments in Publicly Traded Securities$8,525$2,169▼ $6,356
Inventories for Sale or Use-$228-
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-
Total Assets$3,544,336$3,461,793▼ $82,543
Other Assets Total-$2,200-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,849,637$1,600,848▼ $248,789
Deferred Revenue$112,628$117,662▲ $5,034
Accounts Payable and Accrued Expenses$154,916$115,487▼ $39,429
Unsecured Notes Loans Payable-$62,622-
Escrow Account Liability$15,484$19,894▲ $4,410
Total Liabilities$2,132,665$2,016,513▼ $116,152
Net Assets / Fund Balance
Unrestricted Net Assets$1,293,454$1,185,907▼ $107,547
Temporarily Rstr Net Assets$118,217$259,373▲ $141,156
Total Net Assets Fund Balance$1,411,671$1,445,280▲ $33,609
Total Liabilities and Net Assets / Fund Balance$3,544,336$3,461,793▼ $82,543

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,825,268$3,219,672$6,044,940
Equipment$203,700$479,414$683,114
Land$70,000-$70,000
Other Land Buildings$24,517$23,451$47,968
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Chris PallattoExecutive DirectorFT$125,724$15,082$140,806

Board Members and Trustees

NameTitle
Leonard GoldbergPresident
Jacquelyn WaddockVice President
Lisa LemonteVice President
Allison PluckDirector
Art LinaresDirector
Brian BoydDirector
Candace FuchsDirector
Christina WiraDirector
David M BrownDirector
Edward BohanDirector
Edward M CassellaDirector
George Whelen VDirector
John DuhigDirector
Leighton Lee IvDirector
Marcus WackerDirector
Michael StorialeDirector
Noel BishopDirector
Richard StebbinsDirector
Robert BradyDirector
William McminnDirector
Melissa OzolsSecretary
Susan a MalanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$429,183
Program Service Revenue
$2,323,094
Investment Income
$50
Other Revenue
$16,229
All Other Contributions
$345,274
Change in Net Assets
$73,924

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,768,556
Revenue Not Reported on Form 990
$-72,612
Total Revenue per Audited Statements
$2,695,944
Total Revenue per Form 990
$2,768,556
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,495,348
Other Expenses$1,115,724
Total Fundraising Expense$86,113
Grants and Similar Amounts Paid$73,548
Professional Fundraising Fees$10,012

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,101,461$65,374$1,441$1,168,276
Occupancy$384,917$2,936$1,978$389,831
Depreciation Depletion$258,930$1,512$1,308$261,750
Current Officers, Directors, Trustees, and Key Employees$56,250$33,832$50,000$140,082
Payroll Taxes$100,021$8,375$3,810$112,206
Grants to Domestic Individuals$73,298--$73,298
Payments to Affiliates$47,340$3,438$2,116$52,894
Advertising$49,909$2,374$265$52,548
Office Expenses$25,664$25,168$658$51,490
Insurance$47,027$238$238$47,503
Other Employee Benefits$41,396$322-$41,718
Pension Plan Contributions$29,723$2,275$1,068$33,066
Information Technology$24,785-$4,675$29,460
Fees for Services Other$20,712$779$476$21,967
Interest$17,233$326$38$17,597
Fees for Services Accounting-$13,000-$13,000
Fees for Services Professional Fundraising--$10,012$10,012
Conferences and Meetings$2,196$3,137$1,897$7,230
Travel$5,696$1,384-$7,080
Other Expenses$1,669$319$134$1,669
All Other Expenses$935--$935
Foreign Grants$250--$250
Fees for Services Legal-$-2,944-$-2,944
Total Functional Expenses$2,440,748$167,771$86,113$2,694,632

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,694,632
Total Expenses per Form 990$2,694,632
Total Expenses per Audited Statements$2,662,335
Expenses Not Reported on Form 990$-32,297
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$26,509
Fundraising Gross Income$25,120
Professional Fundraising Fees$10,012

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spin-a-thon$20,952---
Golf Classic$59,284$16,800-$16,800
Total Events$97,524$25,120$26,509$-1,389
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$11,950
Christina WiraDirectorGrant Writing SrvcNo$10,012

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$100,000-
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
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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 executive committee undertook a compensation comparabilty analysis when hiring for the ceo posistion. There has been no changes to the compensation levels since hiring in 2012.

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
2016-06-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Pallatto
Formed
1917
Legal Domicile
Ct
Voting Board Members
22
Independent Board Members
22
Employees
192
Volunteers
212

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

Other Changes In Net Assets Or Fund Balances - Other Decreases

Loss on disposition of assets = -$40315

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.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt19Director
IRS990/Form990PartVIISectionAGrp/TitleTxt20Director
IRS990/Form990PartVIISectionAGrp/TitleTxt21Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt22Executive Dir.
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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