Albuquerque Balloon Championship Inc in Albuquerque, New Mexico (NM)

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Albuquerque Balloon Championship Inc
Employer Identification Number (EIN)200686366
Name of OrganizationAlbuquerque Balloon Championship Inc
In Care of NamePaul Smith
Address4401 Alameda Blvd Ne, Albuquerque, NM 87113-1554
SubsectionEducational Organization
Ruling Date06/2006
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$25,000 to $99,999
Income$25,000 to $99,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$78,258
Amount of Income$70,903
Form 990 Revenue Amount$70,903
National Taxonomy of Exempt Entities (NTEE)Recreation, Sports, Leisure, Athletics: Amateur Sports Competitions


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Amount of income in 2013: $70,903 (it was $84,296 in 2012)
This organization: 

 $70,903
Other organizations performing similar types of work: 

 $68,822

Assets in 2013: $78,258 (it was $89,615 in 2012)
This organization: 

 $78,258
Other organizations performing similar types of work: 

 $29,808

Expenses in 2013: $82,260
This organization: 

 $82,260
Other organizations performing similar types of work: 

 $62,550

Income to expenses ratio in 2013: 0.9
This organization: 

 0.9
Other organizations performing similar types of work: 

 1.1

Grants share in income in 2013: 0.0%
Albuquerque Balloon Championship Inc: 

 0.0%
Other organizations performing similar types of work: 

 38.2%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
Total revenue$92,582$84,296$70,903
Contributions, gifts, grants, and similar amounts received$1,320$80$0
Program service revenue including government fees and contracts$91,262$84,216$69,343
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$1,560
Total expenses$59,065$79,544$82,260
Total net assets$84,863$89,615$78,258
Excess/Deficit for the year$33,517$4,752$-11,357
Net assets or fund balances at beginning of year$51,346$84,863$89,615
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$89,615$78,258
Balance Sheets
201120122013
Total assets$84,863$89,615$78,258
Total liabilities$0$0$0
Net assets or fund balances$84,863$89,615$78,258
Other Information
201120122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
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?NoNo
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?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
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$457,578
Subtotal$457,578
Gifts, grants, contributions, and membership fees received$1,400
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$456,178
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$457,578
Public support$457,578
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
IdNameAddressStateEstablishedTotal Income
1Tour Of The Gila IncPO BOX 5192, Silver City, NM 88062-5192NM2007-08$274,190
2United States Bowling Congress Inc, 81013 Central New Mexico Usbc125 Jackson St Ne, Albuquerque, NM 87108-1339NM2004-09$149,170
3United States Bowling Congress Inc, New Mexico Usbc3608 Mimbres Lane, Santa Fe, NM 87507NM2004-09$31,423
4United States Bowling Congress Inc, Las Cruces Usbc304 Sanchez Place, Las Cruces, NM 88005NM2004-09$7,430
5Amateur Athletic World Hall Of Fame Museum1308 Elfego Baca Dr Sw, Albuquerque, NM 87121NM2001-11$0
6Bar Diamond-S131 Buckboard Rd, Tijeras, NM 87059NM2006-11$0
7Coyote Country SpeedwayPO BOX 154, Tatum, NM 88267-0154NM2004-07$0
8Crossroads City Derby1015 Maple St, Las Cruces, NM 88001-4108NM2011-08$0
9Dona Ana County Senior Olympics Inc205 W Boutz Rd Bldg 6, Las Cruces, NM 88005NM1992-12$0
10Four Corners Drag Racing AssociationPo Box 2661, Farmington, NM 87499NM2008-12$0
11Golden Gloves Association Of New Mexico Inc1709 San Patricio Ave Sw, Albuquerque, NM 87104NM2009-04$0
12Lea County Special Rodeo IncPO BOX 1092, Hobbs, NM 88241-1092NM2001-06$0
13Milkman Triathlon IncPO BOX 399, Dexter, NM 88230-0399NM2014-09$0
14New Mexico Cactus Vbc1000 Casa Roja Pl Nw, Albuquerque, NM 87120-6587NM2011-01$0
15New Mexico Judo Institute Inc6509 Lomas Blvd Ne, Albuquerque, NM 87110NM2010-09$0
16New Mexico Wrestling - Usa1820 Atrisco Dr Sw, Albuquerque, NM 87105-4132NM2014-10$0
17Nmca101 Veranda Rd Nw Ste B, Albuquerque, NM 87107-2215NM2012-03$0
18Northern New Mexico Education- Sports Alliance Inc1072 Calle Largo, Santa Fe, NM 87501NM2014-05$0
19Perez Boxing Inc1305 Amole Dr Sw, Albuquerque, NM 87121NM2012-08$0
20Ruidoso Usssa Youth SportsPO BOX 767, Ruidoso Downs, NM 88346-0767NM2001-11$0
Number of organizations performing similar types of work
Alaska51
Alabama70
Arkansas93
Arizona88
California465
Colorado154
Connecticut48
District of Columbia14
Delaware22
Florida238
Georgia118
Hawaii43
Iowa248
Idaho86
Illinois302
Indiana208
Kansas139
Kentucky101
Louisiana72
Massachusetts101
Maryland101
Maine33
Michigan289
Minnesota214
Missouri131
Mississippi39
Montana90
North Carolina130
North Dakota87
Nebraska134
New Hampshire35
New Jersey124
New Mexico57
Nevada39
New York323
Ohio320
Oklahoma75
Oregon118
Pennsylvania250
Rhode Island17
South Carolina53
South Dakota65
Tennessee104
Texas286
Utah51
Virginia142
Vermont30
Washington172
Wisconsin286
West Virginia43
Wyoming73
International24
Total6,596

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