Civic Intelligence

Lightning Basketball Inc.

990 • Fiscal year 2020 • EIN 11-3633046

Jan 01, 2020 to Dec 31, 2020 • Filed on Mar 12, 2021

Organization ProfileWWW.LONGISLANDLIGHTNING.COM
45 Cherry Valley AveWest Hempstead, NY 11552

(516) 292-4956

Siviq Scores

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

Liabilities / Assets

100th percentile

29.72x

Higher debt load relative to assets than 100% of similar nonprofits.

2020 filings • NTEE N • <$500k nonprofits • Source year 2020

Liabilities / Revenue

94th percentile

0.83x

Higher debt load relative to revenue than 94% of similar nonprofits.

2020 filings • NTEE N • <$500k nonprofits • Source year 2020

Net Margin

50th percentile

0.2%

Higher net margin than 50% of similar nonprofits.

2020 filings • NTEE N • <$500k nonprofits • Source year 2020

Top Officer Pay

87th percentile

$0

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • NTEE N • <$500k nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2019 to 2020

Revenue Growth

12th percentile

-81%

Faster revenue growth than 12% of similar nonprofits.

2020 filings • NTEE N • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets100th percentile

Assets

Up

$7,809

Up $7,809 from 2019

Net Assets

Up

-$224,269

Up $1,501 (+0.7%) from 2019

Liabilities

Up

$232,078

Up $6,308 (+2.8%) from 2019

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin50th percentile

Revenue

Down

$279,175

Down $1,170,076 (-81%) from 2019

Expenses

Down

$278,625

Down $1,221,004 (-81%) from 2019

Net Income

Up

$550

Up $50,928 (+101%) from 2019

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$400K$200K$0-$200K-$400KAssets 2010: $4,574Liabilities 2010: $0Net Assets 2010: $4,5742010Assets 2011: $15,542Liabilities 2011: $0Net Assets 2011: $15,5422011Assets 2012: $20,869Liabilities 2012: $0Net Assets 2012: $20,8692012Assets 2013: $43,316Liabilities 2013: $0Net Assets 2013: $43,3162013Assets 2014: $0Liabilities 2014: $4,443Net Assets 2014: -$4,4432014Assets 2015: $18,865Liabilities 2015: $0Net Assets 2015: $18,8652015Assets 2016: $80,014Liabilities 2016: $0Net Assets 2016: $80,0142016Assets 2017: $0Liabilities 2017: $35,376Net Assets 2017: -$35,3762017Assets 2018: $0Liabilities 2018: $90,962Net Assets 2018: -$90,9622018Assets 2019: $0Liabilities 2019: $225,770Net Assets 2019: -$225,7702019Assets 2020: $7,809Liabilities 2020: $232,078Net Assets 2020: -$224,2692020Assets 2021: $12,742Liabilities 2021: $212,078Net Assets 2021: -$199,3362021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2020

Assets$7,809
Liabilities$232,078
Net Assets-$224,269
Open 2020 Filing

Operations Trend

Revenue Growth12th percentile

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

$2.0M$1.0M$0-$1.0MExpenses 2010: $902,5412010Expenses 2011: $1,136,3212011Expenses 2012: $1,072,8712012Revenue 2013: $1,444,131Expenses 2013: $1,421,684Net Income 2013: $22,4472013Revenue 2014: $1,419,751Expenses 2014: $1,467,510Net Income 2014: -$47,7592014Revenue 2015: $1,608,266Expenses 2015: $1,584,958Net Income 2015: $23,3082015Revenue 2016: $1,380,386Expenses 2016: $1,319,237Net Income 2016: $61,1492016Revenue 2017: $1,457,129Expenses 2017: $1,572,519Net Income 2017: -$115,3902017Revenue 2018: $1,447,975Expenses 2018: $1,503,561Net Income 2018: -$55,5862018Revenue 2019: $1,449,251Expenses 2019: $1,499,629Net Income 2019: -$50,3782019Revenue 2020: $279,175Expenses 2020: $278,625Net Income 2020: $5502020Revenue 2021: $1,304,966Expenses 2021: $1,279,032Net Income 2021: $25,9342021Revenue 2022: $1,632,155Expenses 2022: $1,829,698Net Income 2022: -$197,5432022

Highlighted filing

2020

Revenue$279,175
Expenses$278,625
Net Income$550
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Mar 12, 2021
Return Version
2020v4.1
Gross Receipts
$279,175
Mission and Program Overview

Mission

Long island lightning is an organization that is devoted to children, ages 9-17, and their development of basketball skills.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$212,078$212,078→ $0
Cash and Non-Interest-Bearing Accounts-$7,809-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-225,770$-224,269▲ $1,501
Total Assets$0$7,809▲ $7,809
Liabilities
Unsecured Notes Loans Payable$13,692$20,000▲ $6,308
Total Liabilities$225,770$232,078▲ $6,308
Net Assets / Fund Balance
Total Net Assets Fund Balance$-225,770$-224,269▲ $1,501
Total Liabilities and Net Assets / Fund Balance$0$7,809▲ $7,809
Compensation and Service Providers
Top Officer Pay87th percentile

Board Members and Trustees

NameTitle
James P FoxAssociate Directors
Karen CammerAssociate Directors
James M FoxExecutive Director & CFO
Revenue and Support

Revenue Composition

Contributions and Grants
$251,751
Program Service Revenue
$27,424
Investment Income
$0
Other Revenue
$0
All Other Contributions
$251,751
Change in Net Assets
$550
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$278,625
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$57,706$0$0$57,706
Other Expenses$26,415$0$0$26,415
Total Functional Expenses$278,625$0$0$278,625
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$212,078$212,078→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Lightning Basketball Inc
EIN
11-3633046
Phone
5162924956
Address
45 CHERRY VALLEY AVE, WEST HEMPSTEAD, NY 11552

Signing Officer

Name
James M Fox
Title
Executive Director
Phone
5162924956
Signed
2021-03-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James M Fox
Formed
1993
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Cowan Spinoso & Booth LLC
Address
47 POST AVENUE, WESTBURY, NY 11590
Preparer
Christopher G Spinoso CPA
Phone
5162684960
Supplemental Narrative

Additional Explanations

Other

“Section ix, line 25, column b - other deductions”

Pt VI, Line 11B

“The form was reviewed by the officers together with the organization's accountant”

Pt VI, Line 19

“The organization's govening documents, conflict of interest policy and financial statements are all maintained inthe offices at the facility and are available upon request.”

Form 990, Part IX, Line 24E

“Admin/director fees 27507. 27507. 0. 0.”

Form 990, Part IX, Line 24E

“Bank fees 1078. 1078. 0. 0.”

Form 990, Part IX, Line 24E

“Office expenses 9121. 9121. 0. 0.”

Form 990, Part IX, Line 24E

“Uniforms and equip 20000. 20000. 0. 0.”

Raw XML Appendix326 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVENING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE ALL MAINTAINED INTHE OFFICES AT THE FACILITY AND ARE AVAILABLE UPON REQUEST.
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt013692
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt020000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt045 CHERRY VALLEY AVE
IRS990/USAddress/CityNm0WEST HEMPSTEAD
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011552
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0WWW.LONGISLANDLIGHTNING.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES M FOX
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05162924956
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LIGHTNING BASKETBALL INC
ReturnHeader/Filer/BusinessNameControlTxt0LIGH
ReturnHeader/Filer/EIN0113633046
ReturnHeader/Filer/PhoneNum05162924956
ReturnHeader/Filer/USAddress/AddressLine1Txt045 CHERRY VALLEY AVE
ReturnHeader/Filer/USAddress/CityNm0WEST HEMPSTEAD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011552
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COWAN SPINOSO & BOOTH LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt047 POST AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WESTBURY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011590
ReturnHeader/PreparerPersonGrp/PhoneNum05162684960
ReturnHeader/PreparerPersonGrp/PreparationDt02021-08-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTOPHER G SPINOSO CPA
ReturnHeader/ReturnTs02021-08-27T08:29:05-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JAMES
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0FOX
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,809
Liabilities
$232,078
Net assets
-$224,269
Revenue
$279,175
Expenses
$278,625
Net income
$550
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$1.63$1.83$0.20
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.01$0.21$0.20$1.30$1.28$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.01$0.23$0.22$0.28$0.28$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.23$0.23$1.45$1.50$0.05
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.09$0.09$1.45$1.50$0.06
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.04$0.04$1.46$1.57$0.12
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.08$0.00$0.08$1.38$1.32$0.06
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.02$0.00$0.02$1.61$1.58$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.42$1.47$0.05
2013Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$1.44$1.42$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.02$0.00$0.02$1.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.02$0.00$0.02$1.14
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.90