Go For Broke National Education Center in Torrance, California (CA)

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Go For Broke National Education Center
Employer Identification Number (EIN)954245623
Name of OrganizationGo For Broke National Education Center
Address367 Van Ness Way Ste 611, Torrance, CA 90501-6258
ActivitiesOther cultural or historical activities
SubsectionCharitable Organization
Ruling Date09/1990
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$5,000,000 to $9,999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$5,225,146
Amount of Income$933,689
Form 990 Revenue Amount$212,394
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities:


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Amount of income in 2013: $933,689 (it was $931,306 in 2012)
This organization: 

 $933,689
Other organizations performing similar types of work: 

 $119,263

Assets in 2013: $5,225,146 (it was $5,665,715 in 2012)
This organization: 

 $5,225,146
Other organizations performing similar types of work: 

 $397,512

Expenses in 2013: $641,367
This organization: 

 $641,367
Other organizations performing similar types of work: 

 $81,894

Income to expenses ratio in 2013: 1.5
Go For Broke National Education Center: 

 1.5
Other organizations performing similar types of work: 

 1.5

Number of employees in 2013: 6
Go For Broke National Education Center: 

 6
Other organizations performing similar types of work: 

 5

Employees paid over $100,000 in 2013: 16.7%
Go For Broke National Education Center: 

 16.7%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 315.6%
This organization: 

 315.6%
Other organizations performing similar types of work: 

 88.4%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?NoNo
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYes
Did the organization report more than $15,000 of gross income from gaming activities?YesYes
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?NoNo
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?YesNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?YesNo
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
2010201120122013
The number reported in Box 3 of Form 1096292315
The number of Forms W-2G000
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return1256
Did the organization file all required federal employment tax returns?YesYesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNoNo
Has it filed a Form 990-T for this year?NoNoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNoNo
Did the organization file Form 8886-T?NoNoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYesYes
Did the organization notify the donor of the value of the goods or services provided?YesYesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNoNo
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities $0$0$0$0
Gross income from members or shareholders$0$0$0$0
Gross income from other sources$0$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNoNo
The amount of tax-exempt interest received or accrued during the year$0$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0$0
The amount of reserves on hand$0$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNoNo
Has it filed a Form 720 to report these payments?NoNoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$198,333$208,198
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$0$0
Total number of individuals who received more than $100,000 of reportable compensation from the organization11
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
2010201120122013
Total revenue$2,143,317$570,194$610,125$212,394
Contributions, Gifts, Grants and Other Similar Amounts$2,123,558$498,615$522,729$670,359
Program Service Revenue$0$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$38$151$65$31
Income from investment of tax-exempt bond proceeds$0$0$0$0
Royalties$0$0$0$0
Net rental income$0$0$0$0
Net gain/loss from sales of assets other than inventory$-96$0$0$-336,530
Gross amount from sales of assets other than inventory (Securities / Other)$953 / $0$0 / $0$0 / $0$0 / $0
Less: cost or other basis and sales expenses (Securities / Other)$1,049 / $0$0 / $0$0 / $0$0 / $336,530
Gain or (loss) (Securities / Other)$-96 / $0$0 / $0$0 / $0$0 / $-336,530
Net income/loss from fundraising events$-85,341$-22,882$20,680$-186,131
Gross income from fundraising events$206,792$395,212$270,536$135,655
Less: direct expenses$292,133$418,094$249,856$321,786
Net income/loss from gaming activities$97,859$83,617$63,306$62,131
Gross income from gaming activities$139,449$141,595$134,631$125,110
Less: direct expenses$41,590$57,978$71,325$62,979
Net income/loss from sales of inventory$0$0$0$0
Miscellaneous Revenue$7,299$10,693$3,345$2,534
0$10,693$3,345$2,534
All other revenue$0$0$0
Statement of Functional Expenses
2010201120122013
Total functional expenses$1,345,095$902,591$621,872$641,367
Grants and other assistance to domestic organizations and domestic governments$0$0$0
Grants and other assistance to domestic individuals$0$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0$0
Benefits paid to or for members$0$0$0
Compensation of current officers, directors, trustees, and key employees$147,114$186,574$178,333$195,113
Compensation not included above, to disqualified persons$0$0$0
Other salaries and wages$313,433$181,185$32,084$60,694
Pension plan accruals and contributions$0$0$0
Other employee benefits$16,649$8,439$14,716
Payroll taxes$38,074$29,179$19,259$21,189
Fees for services (non-employees)
Management$0$0$0
Legal$17,775$3,747$0
Accounting$22,540$14,040$17,000
Lobbying$0$0$0
Professional fundraising services$0$0$0$0
Investment management fees$0$0$0
Other$55,093$5,732$55,572
Advertising and promotion$23,409$12,028$12,177
Office expenses$498$3,085$55
Information technology$0$0$0
Royalties$233$55$540
Occupancy$46,391$43,567$47,345
Travel$22,861$7,927$20,006
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0$0
Conferences, conventions, and meetings$0$0$0
Interest$6,704$7,610$6,383
Payments to affiliates$0$0$0
Depreciation, depletion, and amortization$38,978$38,086$36,466
Insurance$9,471$7,747$7,409
Other expenses$94,968$18,671$23,554
Other expenses$21,605$27,308$22,037
Other expenses$19,054$47,759$19,290
Other expenses$15,172$85,510$13,500
Other expenses$0$60,885$68,321
Balance Sheet
2010201120122013
Total assets$6,067,289$5,775,294$5,665,715$5,225,146
Cash - non-interest-bearing$2,845,220$2,783,010$2,777,808
Savings and temporary cash investments$0$0$0
Pledges and grants receivable, net$1,598,228$1,626,247$1,563,717
Accounts receivable, net$31,796$0$0
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0$0
Notes and loans receivable, net$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$9,520$9,495$8,596
Land, buildings, and equipment: cost or other basis$1,275,487$1,237,400$865,462
Investments - publicly traded securities$0$0$0
Investments - other securities$0$0$0
Investments - program-related$0$0$0
Intangible assets$0$0$0
Other assets$15,043$9,563$9,563
Total liabilities$257,839$303,542$205,710$194,114
Accounts payable and accrued expenses$106,800$78,327$64,872
Grants payable$0$0$0
Deferred revenue$48,400$16,530$16,530
Tax-exempt bond liabilities$0$0$0$0
Escrow or custodial account liability$0$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$31,300$0$0
Secured mortgages and notes payable to unrelated third parties$0$104,912$103,161$103,162
Unsecured notes and loans payable to unrelated third parties$104,540$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$12,130$7,692$9,550
Total net assets or fund balances$5,809,450$5,471,752$5,460,005$5,031,032
Unrestricted net assets$1,258,634$1,363,778$1,080,099
Temporarily restricted net assets$4,213,118$4,096,227$3,950,933
Permanently restricted net assets$0$0$0
Capital stock or trust principal, or current funds$0$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$10,363,511
Subtotal$10,363,511
Gifts, grants, contributions, and membership fees received$8,426,240
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$1,937,271
Gross receipts from activities that are not an unrelated trade or business under section 513$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$10,390,573
Public support$10,363,511
Subtotal$996
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$996
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$26,066
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Vietnam Veterans Memorial Fund Inc2600 Virginia Ave Nw, Washington, DC 20037-1905DC1979-05$14,461,276
2Go For Broke National Education Center367 Van Ness Way Ste 611, Torrance, CA 90501-6258CA1990-09$933,689
3The Friends Of The Wanamaker Organ Inc630 Hidden Valley Rd, Kng Of Prussa, PA 19406-1712PA1993-09$700,678
4General Patton Memorial Inc62510 Chiriaco Rd, Indio, CA 92201-8203CA1986-08$215,774
5Veterans Memorial Center Inc400 S Sykes Creek Pkwy, Merritt Is, FL 32952-3547FL1991-10$101,198
6Vietnam Womens Memorial Foundation Inc1735 Connecticut Ave Nw Ste 3, Washington, DC 20009-1187DC1985-07$56,508
7Brentwood Historical Society Inc44 Laurel Dr, Brentwood, NY 11717NY1992-03$1,565
8Camp Atterbury Veterans Memorial Organization IncPo Box 5000, Edinburgh, IN 46124IN1991-05$1,208
9Alabama Horse Soldiers Inc1231 Mcintosh Road, Oxford, AL 36203AL1992-01$150
10A Call To Rememberanceinc, One Nation Under God205 Victoria Way, Friendswood, TX 77546-4956TX1998-05$0
11B-52 Mohawk Valley Foundation8251 Gulf Rd, Rome, NY 13440-1426NY1998-10$0
12Berkley Historical Society Inc1 N Main St, Berkley, MA 02779MA1997-03$0
13Bloomington History Clock Tower Ass9800 First Avenue South, Bloomington, MN 55420MN1995-11$0
14California Wildland Firefighter Memorial IncPo Box 21092, San Bernardino, CA 92406-0292CA1998-06$0
15Cohasset Historical Military Memorial Corporation41 Clay Spring Rd, Cohasset, MA 02025-1633MA1995-10$0
16De Pere History Walk, C-O Donald Noel1406 Main St, Green Bay, WI 54302-1702WI1991-12$0
17East Brunswick Veterans Monument Committee IncPo Box 1081, East Brunswick, NJ 08816NJ1995-07$0
18Flight 255 Their Spirit Lives On15561 Orchard Ridge Dr, Mt Clemens, MI 48038-1685MI1992-01$0
19Never Forgotten Incorporated1751 Utah St, Fairfield, CA 94533-4521CA1998-10$0
20Nikkei BridgePO BOX 6522, Torrance, CA 90504-0522CA1998-07$0
Number of organizations performing similar types of work
Alabama1
California5
District of Columbia3
Florida2
Georgia3
Illinois2
Indiana1
Kentucky1
Louisiana2
Massachusetts2
Maryland1
Michigan4
Minnesota4
Montana2
North Carolina2
New Jersey1
New York7
Ohio4
Pennsylvania4
Rhode Island1
South Dakota1
Tennessee3
Texas2
Virginia2
Wisconsin1
West Virginia1
Total62

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