Palma Promotions Incorporated in Shelbyville, Kentucky (KY)
Table of contents:
| Palma Promotions Incorporated | |
| Employer Identification Number (EIN) | 541697206 |
| Name of Organization | Palma Promotions Incorporated |
| In Care of Name | David E Fiehtner |
| Address | 5609 Orphan Ln, Shelbyville, KY 40065 |
| Activities | Fundraising athletic or sports event |
| Subsection | Charitable Organization |
| Ruling Date | 07/1995 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 02/2014 |
| Assets | $25,000 to $99,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $35,786 |
| Amount of Income | $79,404 |
| Form 990 Revenue Amount | $79,404 |
| National Taxonomy of Exempt Entities (NTEE) | Recreation, Sports, Leisure, Athletics: Olympics Committees and Related International Competitions |
Non-representatives - add comments:
Amount of income in 2014: $79,404 (it was $24,486 in 2013)
| Palma Promotions Incorporated: | $79,404 |
| Other organizations performing similar types of work: | $79,404 |
Assets in 2014: $35,786 (it was $10,853 in 2013)
| Palma Promotions Incorporated: | $35,786 |
| Other organizations performing similar types of work: | $35,786 |
Expenses in 2014: $54,811
| This organization: | $54,811 |
| Other organizations performing similar types of work: | $54,811 |
Income to expenses ratio in 2014: 1.4
| This organization: | 1.4 |
| Other organizations performing similar types of work: | 1.4 |
Grants share in income in 2014: 100.0%
| This organization: | 100.0% |
| Other organizations performing similar types of work: | 100.0% |
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2012 | 2013 | 2014 | |
|---|---|---|---|
| Total revenue | $130,401 | $24,486 | $79,404 |
| Contributions, gifts, grants, and similar amounts received | $130,243 | $24,486 | $79,404 |
| Program service revenue including government fees and contracts | $0 | $0 | $0 |
| Membership dues and assessments | $0 | $0 | $0 |
| Investment income | $0 | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 |
| Other revenue | $158 | $0 | $0 |
| Total expenses | $216,965 | $18,732 | $54,811 |
| Total net assets | $5,099 | $10,853 | $35,446 |
| Excess/Deficit for the year | $-86,564 | $5,754 | $24,593 |
| Net assets or fund balances at beginning of year | $91,663 | $5,099 | $10,853 |
| Other changes in net assets or fund balances | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $10,853 | $35,446 | |
| Balance Sheets | |||
| 2012 | 2013 | 2014 | |
|---|---|---|---|
| Total assets | $6,130 | $10,853 | $35,786 |
| Total liabilities | $1,031 | $0 | $340 |
| Net assets or fund balances | $5,099 | $10,853 | $35,446 |
| Other Information | |||
| 2012 | 2013 | 2014 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | |
| Were any significant changes made to the organizing or governing documents? | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | No | No | |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No | |
| Total amount involved | $0 | $0 | |
| Initiation fees and capital contributions | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | |
| Reason for Public Charity Status (for 2014) | |
| The organization is not a private foundation because it is: | An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi) |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014) | |
| 2010 - 2014 Total | |
|---|---|
| Public Support | $455,278 |
| Subtotal Support | $455,278 |
| Gifts, grants, contributions, and membership fees received | $455,278 |
| 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 |
| The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support | $0 |
| Total Support | $473,375 |
| Public Support | $455,278 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $18,097 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income. Do not include gain or loss from the sale of capital assets | $0 |
| Gross receipts from related activities, etc. | $0 |
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|---|---|---|---|---|---|
| 1 | Paducah Swimming Incorporated | 115 Lebanon Church Rd, Paducah, KY 42003-9221 | KY | 1995-08 | $155,520 |
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| 9 | Paintsville Main Street Association Inc | 340 Main Street, Paintsville, KY 41240 | KY | 1992-04 | $0 |
| 10 | Palliative Care Of The Bluegrass | 2312 Alexandria Dr, Lexington, KY 40504-3229 | KY | 2000-01 | $1,798,685 |
| 11 | Palma Promotions Incorporated | 5609 Orphan Ln, Shelbyville, KY 40065 | KY | 1995-07 | $79,404 |
| 12 | Pampered Pets Animal Rescue Inc | 3341 Bluejay Drive, Edgewood, KY 41018 | KY | 2009-12 | $0 |
| 13 | Panco Youth Center Inc | 9626 Hwy 1482, Oneida, KY 40972 | KY | 1985-10 | $0 |
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