Comitato Per L Organizzazione Deixx Giochi Olmpc Invernali Torino 2006 in Italy, (international)

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Comitato Per L Organizzazione Deixx Giochi Olmpc Invernali Torino 2006
Employer Identification Number (EIN)980341909
Name of OrganizationComitato Per L Organizzazione Deixx Giochi Olmpc Invernali Torino 2006
Address10152 Torino, Italy
SubsectionCivic League
Ruling Date05/2001
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2006
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$78,349,478
Amount of Income$1,047,638,743
Form 990 Revenue Amount$1,047,638,743
National Taxonomy of Exempt Entities (NTEE)Recreation, Sports, Leisure, Athletics: Olympics Committees and Related International Competitions


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Amount of income in 2006: $1,047,638,743
Comitato Per L Organizzazione Deixx Giochi Olmpc Invernali Torino 2006: 

 $1,047,638,743
Other organizations performing similar types of work: 

 $169,284,394

Assets in 2006: $78,349,478
This organization: 

 $78,349,478
Other organizations performing similar types of work: 

 $78,349,478

Expenses in 2007: $28,635,410
This organization: 

 $28,635,410
Other organizations performing similar types of work: 

 $195,719,962

Income to expenses ratio in 2007: 1.7
This organization: 

 1.7
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 100.0%
This organization: 

 100.0%
Other organizations performing similar types of work: 

 77.6%

Number of employees in 2007: 9
This organization: 

 9
Other organizations performing similar types of work: 

 10

Employees paid over $50,000 in 2007: 33.3%
This organization: 

 33.3%
Other organizations performing similar types of work: 

 33.3%

Grants share in income in 2007: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 27.8%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2001200220032004200520062007
Total revenue$11,688,238$38,825,291$77,719,362$202,359,573$449,825,528$1,047,638,743$50,104,500
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$9,574,548$30,919,718$68,562,191$157,127,846$233,473,749$0$0
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$15,454$14,908$36,422$45,987$67,867$206,059$187,547
Dividends and interest from securities$0$0$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0
Other investment income$2,007,501$1,344,434$-108,618$59,932$-2,669,662$503,094$-161,619
Gain or (loss) from sales of assets other than inventory$0$0$0$0$0$4,307,907$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$4,307,907$0
Less: cost or other basis and sales expenses$0$0$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$3,002,760$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$3,002,760$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$90,735$6,546,231$9,229,367$45,125,808$218,953,574$1,039,618,923$50,078,572
Total expenses$11,688,238$38,825,291$77,719,362$202,359,573$449,825,528$1,080,303,439$28,635,410
Program services$11,688,238$38,825,291$77,719,362$202,359,573$449,825,528$1,080,303,439$28,635,410
Management and general$0$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0
Net assets or fund balances at end of year$71,878$84,686$101,991$109,994$95,264$-32,558,344$1,269,599
Excess or (deficit) for the year$0$0$0$0$0$-32,664,696$21,469,090
Net assets or fund balances at beginning of year$0$71,878$84,686$101,991$109,994$95,264$-32,558,344
Other changes in net assets or fund balances$71,878$12,808$17,305$8,003$-14,730$11,088$12,358,853
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$28,635,410$28,635,410$0$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$1,007,187$1,007,187$0$0
Compensation of former officers, directors, key employees, etc.$109,647$109,647$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$1,465,235$1,465,235$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$263,506$263,506$0$0
Legal fees$444,574$444,574$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$791,990$791,990$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$48,579$48,579$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$498,522$498,522$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$24,006,170$24,006,170$0$0
Balance Sheets
2001200220032004200520062007
Total assets$22,482,019$65,619,131$127,757,601$238,225,791$649,969,529$78,349,478$34,358,709
Cash - non-interest-bearing$4,627$4,908$14,587$16,615$113,208$25,423$8,867
Savings and temporary cash investments$1,407,634$37,795,246$64,269,070$7,974,206$39,694,537$12,937,004$4,530,999
Accounts receivable less allowance for doubtful accounts$8,226,304$21,856,249$28,067,889$41,004,991$169,562,759$65,373,881$29,743,092
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$68,714$172,012$221,400$7,510,372$8,640,511$0$39,256
Investments - publicly-traded securities$13,170$0
Investments - other securities$0$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$521,757$1,082,986$22,906,624$151,421,941$395,870,426$0$0
Other assets, including program-related investments$12,252,983$4,707,730$12,278,031$30,297,666$36,088,088$0$36,495
Total liabilities$22,410,141$65,534,445$127,655,610$238,115,797$649,874,265$110,907,822$33,089,110
Accounts payable and accrued expenses$13,800,445$62,796,879$125,548,354$227,421,220$532,667,135$57,331,693$21,484,588
Grants payable$0$0$0$0$0$0$0
Deferred revenue$837,343$1,925,009$1,149,614$589,340$7,818,793$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0
Mortgages and other notes payable$7,772,353$812,557$326,142$351,732$101,808,014$49,069,581$0
Other liabilities$0$0$631,500$9,753,505$7,580,323$4,506,548$11,604,522
Total liabilities and net assets/fund balances$22,482,019$65,619,131$127,757,601$238,225,791$649,969,529$78,349,478$34,358,709
Total net assets or fund balances$71,878$84,686$101,991$109,994$95,264$-32,558,344$1,269,599
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2001200220032004200520062007
Total revenue$11,688,238$38,825,291$77,719,362$202,359,573$449,825,528$1,047,638,743$50,104,500
Total revenue, gains, and other support per audited financial statements$19,433,983$39,628,595$78,397,593$202,371,832$470,611,092$646,119,556$50,104,500
Other expenses$7,745,745$803,304$678,231$12,259$20,785,564$1,575,132$0
Net unrealized gains on investments$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$7,745,745$803,304$678,231$12,259$20,785,564$1,575,132$0
Other revenue$0$0$0$0$0$403,094,319$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$403,094,319$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2001200220032004200520062007
Total expenses$11,688,238$38,825,291$77,719,362$202,359,573$449,825,528$1,080,303,439$28,635,410
Total expenses and losses per audited financial statements$19,433,983$39,628,595$78,397,593$202,371,832$470,611,092$678,784,252$28,635,410
Other revenue$7,745,745$803,304$678,231$12,259$20,785,564$1,575,132$0
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0
Other$7,745,745$803,304$678,231$12,259$20,785,564$1,575,132$0
Other expenses$0$0$0$0$0$403,094,319$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$403,094,319$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$246,128$153,526$3,311
40$216,387$179,061$7,409
40$137,788$0$0
40$21,467$0$0
40$13,959$0$0
40$14,351$0$0
40$13,799$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings1
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other Benefits
Loans and AdvancesCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
$0$48,926$5,512$0
$0$47,517$7,692$0
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?Yes
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?Yes
Did the organization make only in-house lobbying expenditures of $2,000 or less?Yes
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?Yes
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20069
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$187,547$49,916,953
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$187,547$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$-161,619
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$50,078,572
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
999999999100%$15,732,057$16,119,279
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
2000200120022003200420052006
Total$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Salt Lake Organizing Committee For The Olympic Winter GamesSalt Lake City, UT 84144UT$1,121,279,649
2Comitato Per L Organizzazione Deixx Giochi Olmpc Invernali Torino 200610152 Torino, Italyinternational2001-05$1,047,638,743
3Sydney Organising Commitee For The Olympic Gamesinternational$502,072,130
4United States Olympic Committee1 Olympic Plaza, Colorado Springs, CO 80909-5780CO1952-04$169,284,394
5International Olympic Committee1001 Lausanne, Switzerlandinternational1992-03$156,666,000
6United States Committee Sports For Israel Inc1926 Arch Street, Philadelphia, PA 19103-1444PA1954-07$10,764,387
7City Of Houston / Harris County Sports Cmt Fdn IncHouston, TX 77253TX$559,502
8Olympic Training Foundation3s248 Ironwood Dr, Glen Ellyn, IL 60137-7364IL2000-05$0
Number of organizations performing similar types of work
Colorado1
Illinois1
Pennsylvania1
Texas1
Utah1
International3
Total8

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