Island Waves Inc in Holbrook, New York (NY)

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Island Waves Inc
Employer Identification Number (EIN)113612488
Name of OrganizationIsland Waves Inc
In Care of NameMichael Shapey
Address23 San Rafael Ave, Holbrook, NY 11741-2816
SubsectionEducational Organization
Ruling Date10/2001
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 Period04/2014
Assets$25,000 to $99,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$42,983
Amount of Income$161,459
Form 990 Revenue Amount$161,459
National Taxonomy of Exempt Entities (NTEE)Recreation, Sports, Leisure, Athletics: Winter Sports (Snow and Ice)


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Amount of income in 2014: $161,459 (it was $95,982 in 2013)
Island Waves Inc: 

 $161,459
Other organizations performing similar types of work: 

 $95,590

Assets in 2014: $42,983 (it was $34,751 in 2013)
This organization: 

 $42,983
Other organizations performing similar types of work: 

 $36,253

Expenses in 2014: $153,227
This organization: 

 $153,227
Other organizations performing similar types of work: 

 $85,753

Income to expenses ratio in 2014: 1.1
Island Waves Inc: 

 1.1
Other organizations performing similar types of work: 

 1.1

Grants share in income in 2014: 0.0%
Island Waves Inc: 

 0.0%
Other organizations performing similar types of work: 

 1.7%

Financial snapshot ($)

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2011201220132014
Total revenue$97,394$97,125$95,982$161,459
Contributions, gifts, grants, and similar amounts received$1,784$0$0$0
Program service revenue including government fees and contracts$0$0$0$0
Membership dues and assessments$95,875$97,125$95,982$161,459
Investment income$0$0$0$0
Gain/Loss from sale of assets other than inventory$0$0$0$0
Net income/loss from gaming and fundraising events$0$0$0$0
Gross profit/loss from sales of inventory$-265$0$0$0
Other revenue$0$0$0$0
Total expenses$129,953$97,084$66,097$153,227
Total net assets$4,825$4,866$34,751$42,983
Excess/Deficit for the year$-32,559$41$29,885$8,232
Net assets or fund balances at beginning of year$37,384$4,825$4,866$34,751
Other changes in net assets or fund balances$0$0$0$0
Net assets or fund balances at end of year$34,751$42,983
Balance Sheets
2011201220132014
Total assets$4,825$4,866$34,751$42,983
Total liabilities$0$0$0$0
Net assets or fund balances$4,825$4,866$34,751$42,983
Other Information
2011201220132014
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 activitiesNoNoNoNo
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$0
Gross receipts for public use of club facilities$0$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 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 supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2010 - 2014)
2010 - 2014 Total
Public support$720,828
Subtotal$720,828
Gifts, grants, contributions, and membership fees received$718,645
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$0
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$2,183
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$720,828
Public support$720,828
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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2Rio Grande Valley Youth Hockey Association Inc5111 N 10th St Pmb 272, Mcallen, TX 78504TX2008-05$70,609
3Mccall Figure Skating ClubPo Box 808, Mccall, ID 83638ID2009-02$46,665
4Skyliners Synchronizer Skating Team IncC/O Brenner 8 Cohawney Road, Scarsdale, NY 10583NY2002-11$1,782,905
5Webster Community Rink Association865 Publishers Pkwy, Webster, NY 14580-2579NY1999-11$693,044
6Wheatfield Blades Hockey Association Inc3385 Niagara Falls Blvd, N Tonawanda, NY 14120-1213NY2004-07$554,981
7Suffolk County High School Hockey League Inc98 Hallock Ave, Smithtown, NY 11787-3850NY2014-07$496,545
8Schenectady Youth Hockey Association IncPO BOX 2618, Glenville, NY 12325-0618NY1999-12$430,013
9Team Image Synchronized Skating Teams LtdPO BOX 548, New Rochelle, NY 10802-0548NY2011-09$381,875
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11Syracuse Youth Hockey Association Inc230 County Route 4, Central Sq, NY 13036-3435NY2011-03$314,804
12Southern Tier Hockey Association LtdPO BOX 2765, Binghamton, NY 13902-2765NY2009-11$305,082
13St Lawrence County Snowmobile Association IncPO BOX 421, Canton, NY 13617-0421NY2008-03$253,470
14Twin Tier Amateur Hockey AssociationPO BOX 174, Horseheads, NY 14845-0174NY2002-09$196,519
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Number of organizations performing similar types of work
Alaska40
Alabama3
Arkansas3
Arizona15
California90
Colorado77
Connecticut36
District of Columbia4
Delaware8
Florida43
Georgia11
Hawaii5
Iowa21
Idaho30
Illinois64
Indiana21
Kansas4
Kentucky8
Louisiana4
Massachusetts94
Maryland36
Maine49
Michigan127
Minnesota133
Missouri34
Mississippi2
Montana25
North Carolina19
North Dakota10
Nebraska5
New Hampshire51
New Jersey81
New Mexico5
Nevada12
New York140
Ohio58
Oklahoma4
Oregon29
Pennsylvania128
Rhode Island11
South Carolina6
South Dakota8
Tennessee12
Texas65
Utah44
Virginia42
Vermont36
Washington39
Wisconsin105
West Virginia3
Wyoming20
Total1,920

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