Project Deep Inc in Gloucester, Massachusetts (MA)
Table of contents:
| Project Deep Inc | |
| Employer Identification Number (EIN) | 042733972 |
| Name of Organization | Project Deep Inc |
| Address | 127 Eastern Avenue, Gloucester, MA 01930-1802 |
| Subsection | Charitable Organization |
| Ruling Date | 12/1981 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Association |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 06/2014 |
| Assets | $10,000 to $24,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $12,207 |
| Amount of Income | $101,465 |
| Form 990 Revenue Amount | $101,465 |
| National Taxonomy of Exempt Entities (NTEE) | Recreation, Sports, Leisure, Athletics: Swimming, Water Recreation |
Non-representatives - add comments:
Amount of income in 2014: $101,465 (it was $87,871 in 2013)
| This organization: | $101,465 |
| Other organizations performing similar types of work: | $198,434 |
Assets in 2014: $12,207 (it was $14,547 in 2013)
| Project Deep Inc: | $12,207 |
| Other organizations performing similar types of work: | $98,183 |
Expenses in 2014: $105,022
| This organization: | $105,022 |
| Other organizations performing similar types of work: | $175,793 |
Income to expenses ratio in 2014: 1.0
| Project Deep Inc: | 1.0 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2014: 0.0%
| Project Deep Inc: | 0.0% |
| Other organizations performing similar types of work: | 14.2% |
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2012 | 2013 | 2014 | |
|---|---|---|---|
| Total revenue | $112,103 | $87,871 | $101,465 |
| Contributions, gifts, grants, and similar amounts received | $0 | $0 | $0 |
| Program service revenue including government fees and contracts | $112,103 | $87,871 | $101,465 |
| 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 | $0 | $0 | $0 |
| Total expenses | $107,285 | $95,166 | $105,022 |
| Total net assets | $21,301 | $14,006 | $10,449 |
| Excess/Deficit for the year | $4,818 | $-7,295 | $-3,557 |
| Net assets or fund balances at beginning of year | $16,483 | $21,301 | $14,006 |
| Other changes in net assets or fund balances | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $14,006 | $10,449 | |
| Balance Sheets | |||
| 2012 | 2013 | 2014 | |
|---|---|---|---|
| Total assets | $21,301 | $14,547 | $12,207 |
| Total liabilities | $0 | $541 | $1,758 |
| Net assets or fund balances | $21,301 | $14,006 | $10,449 |
| 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: (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 supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2010 - 2014) | |
| 2010 - 2014 Total | |
|---|---|
| Public support | $512,079 |
| Subtotal | $512,079 |
| Gifts, grants, contributions, and membership fees received | $0 |
| 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 | $512,079 |
| 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 | $512,079 |
| Public support | $512,079 |
| Subtotal | $0 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $0 |
| 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 | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Us Swimming Inc, Southern Ca Swimming Inc | 55 Hitchcock Way Ste 211, Santa Barbara, CA 93105-5110 | CA | 2006-03 | $3,953,880 |
| 2 | Nantucket Community Sailing Inc, Nantucket Island Community Sailing | PO BOX 2424, Nantucket, MA 02584-2424 | MA | 1995-09 | $2,031,515 |
| 3 | Stony Brook Yacht Club Inc | PO BOX 755, Stony Brook, NY 11790-0755 | NY | 1953-06 | $1,877,522 |
| 4 | Roanoke Valley Swimming Inc | PO BOX 4646, Roanoke, VA 24015-0646 | VA | 1988-04 | $1,822,202 |
| 5 | Community Boating Inc | 21 David G Mugar Way, Boston, MA 02114-3214 | MA | 1951-10 | $1,358,853 |
| 6 | Waukesha Express Swim Team Inc | PO BOX 1874, Waukesha, WI 53187-1874 | WI | 1981-02 | $1,131,659 |
| 7 | Saltaire Yacht Club Inc | 13o New Hyde Park Rd, Franklin Square, NY 11010 | NY | 1984-03 | $1,014,746 |
| 8 | Us Swimming Inc, Pacific Swimming | 4533 Tuolumne Way, Concord, CA 94521-4233 | CA | 2006-03 | $972,373 |
| 9 | Shawmut Aquatic Club Inc | 71 Hillside Dr, Wayland, MA 01778-3826 | MA | 1976-02 | $470,479 |
| 10 | Pleon Yacht Club Inc | 20 Highland Ter, Marblehead, MA 01945-2334 | MA | 1984-10 | $376,865 |
| 11 | Lincoln Maritime Center Inc | PO BOX 492, Hingham, MA 02043-0492 | MA | 1971-06 | $300,884 |
| 12 | Cohasset Sailing Club Inc | 152 King St Rt 3a, Cohasset, MA 02025 | MA | 1962-05 | $205,995 |
| 13 | Belmont Aquatic Team Inc, Glynn | PO BOX 294, Belmont, MA 02478-0007 | MA | 1981-05 | $197,542 |
| 14 | Wequaquet Lake Yacht Club | PO BOX 399, Centerville, MA 02632-0399 | MA | 1993-02 | $172,725 |
| 15 | Cohasset Swimming And Recreation Trust | 152 King St-Rt 3a, Cohasset, MA 02025 | MA | 1970-12 | $141,844 |
| 16 | Project Deep Inc | 127 Eastern Avenue, Gloucester, MA 01930-1802 | MA | 1981-12 | $101,465 |
| 17 | Wellesley Swimming Association Inc | 5 Bluebird Rd, Wellesley, MA 02481-3504 | MA | 1991-04 | $97,354 |
| 18 | C R A S H-B Sprints Inc | 60 State Street, Boston, MA 02109-1800 | MA | 1987-08 | $95,493 |
| 19 | Catboat Association Inc | 262 Forest St, Needham, MA 02492-1326 | MA | 1984-12 | $60,804 |
| 20 | Nobska Swim Club Inc | 242 Hatchville Rd, Hatchville, MA 02536-4026 | MA | 1976-06 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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