Lincoln Sports Foundation Inc in Lincoln, Nebraska (NE)

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Lincoln Sports Foundation Inc
Employer Identification Number (EIN)450533389
Name of OrganizationLincoln Sports Foundation Inc
In Care of NameLynn Simonsen
Address7600 N 70th St, Lincoln, NE 68517-3204
SubsectionCharitable Organization
Ruling Date07/2004
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$5,000,000 to $9,999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$6,624,590
Amount of Income$691,569
Form 990 Revenue Amount$688,049
National Taxonomy of Exempt Entities (NTEE)Recreation, Sports, Leisure, Athletics: Physical Fitness and Community Recreational Facilities


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Amount of income in 2013: $691,569
This organization: 

 $691,569
Other organizations performing similar types of work: 

 $75,203

Assets in 2013: $6,624,590
Lincoln Sports Foundation Inc: 

 $6,624,590
Other organizations performing similar types of work: 

 $56,156

Expenses in 2012: $1,306,187
Lincoln Sports Foundation Inc: 

 $1,306,187
Other organizations performing similar types of work: 

 $63,875

Income to expenses ratio in 2012: 0.5
Lincoln Sports Foundation Inc: 

 0.5
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 92.0%
Lincoln Sports Foundation Inc: 

 92.0%
Other organizations performing similar types of work: 

 78.8%

Number of employees in 2012: 60
This organization: 

 60
Other organizations performing similar types of work: 

 1

Grants share in income in 2012: 20.8%
Lincoln Sports Foundation Inc: 

 20.8%
Other organizations performing similar types of work: 

 10.4%

Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$979,587
Contributions, Gifts, Grants and Other Similar Amounts$203,804
Program Service Revenue$769,188
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$18
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$4,169
Gross sales of inventory, less returns and allowances$12,221
Less: cost of goods sold$8,052
Miscellaneous Revenue$2,408
Statement of Functional Expenses (for 2012)
Total functional expenses$1,306,187
Compensation of current officers, directors, trustees, and key employees$421,885
Other salaries and wages$0
Payroll taxes$44,649
Professional fundraising services$0
Other$839,653
Balance Sheet (for 2012)
Total assets$6,901,660
Total liabilities$5,522,026
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$5,268,932
Unsecured notes and loans payable to unrelated third parties$112,222
Other$140,872
Total net assets or fund balances$1,379,634
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
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
Support Schedule for Organizations Described in Section 509(a)(2) (for 2012)
2008 - 2012 Total
Total support$5,808,084
Gifts, grants, contributions, and membership fees received$1,138,862
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$5,056,390
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$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$-438,831
Other$51,663
Revenue, Expenses, and Changes in Net Assets or Fund Balances
2004200520062007
Total revenue$888,160$761,183$982,925$1,210,154
Contributions, gifts, grants, and similar amounts received$-4,000$105,000$376,315$203,054
Contributions to donor advised funds$0$0
Direct public support$-4,000$105,000$376,315$203,054
Indirect public support$0$0$0$0
Government contributions (grants)$0$0$0$0
Program service revenue including government fees and contracts$847,346$647,502$606,749$1,005,609
Membership dues and assessments$0$0$0$0
Interest on savings and temporary cash investments$43$147$285$1,480
Dividends and interest from securities$0$0$0$0
Net rental income or (loss)$2,724$2,378$824$-22,699
Gross rents$3,224$2,918$1,384$1,975
Less: rental expenses$500$540$560$24,674
Other investment income$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$-3,414$0
Gross amount from sales of assets other than inventory$1,387$0$11,020$0
Less: cost or other basis and sales expenses$1,387$0$14,434$0
Net income or (loss) from special events and activities$0$0$0$0
Gross revenue$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0
Gross profit or (loss) from sales of inventory$10,078$4,254$1,080$20,810
Gross sales of inventory, less returns and allowances$55,806$35,248$17,655$37,869
Less: cost of goods sold$45,728$30,994$16,575$17,059
Other revenue$31,969$1,902$1,086$1,900
Total expenses$872,348$930,081$1,079,081$1,586,400
Program services$824,087$870,625$933,556$1,459,110
Management and general$48,261$59,456$145,525$122,901
Fundraising$0$0$0$4,389
Payments to affiliates$0$0$0$0
Net assets or fund balances at end of year$15,812$-150,916$-247,072$-623,318
Excess or (deficit) for the year$15,812$-168,898$-96,156$-376,246
Net assets or fund balances at beginning of year$0$17,982$-150,916$-247,072
Other changes in net assets or fund balances$0$0$0$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,586,400$1,459,110$122,901$4,389
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.$145,333$103,700$41,633$0
Compensation of former officers, directors, key employees, etc.$0$0$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$420,721$416,721$0$4,000
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$14,997$12,953$2,044$0
Payroll taxes$31,897$28,406$3,185$306
Professional fundraising fees$0$0$0$0
Accounting fees$30,206$0$30,206$0
Legal fees$3,053$0$3,053$0
Supplies$88,879$88,879$0$0
Telephone$6,522$6,522$0$0
Postage and shipping$2,661$2,096$565$0
Occupancy$78,217$78,217$0$0
Equipment rental and maintenance$9,068$9,068$0$0
Printing and publications$3,189$3,189$0$0
Travel$22,096$21,553$543$0
Conferences, conventions, and meetings$410$410$0$0
Interest$245,425$245,425$0$0
Depreciation, depletion, etc.$178,829$178,829$0$0
Other expenses not covered above$304,897$263,142$41,672$83
Balance Sheets
2004200520062007
Total assets$5,210,376$5,206,638$5,407,743$5,472,460
Cash - non-interest-bearing$250$250$0$250
Savings and temporary cash investments$12,874$85,039$36,610$157,178
Accounts receivable less allowance for doubtful accounts$5,100$30,126$49,765$56,000
Pledges receivable less allowance for doubtful accounts$17,500$15,750$75,750$75,750
Grants receivable$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$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
Inventories for sale or use$876$494$0$849
Prepaid expenses and deferred charges$476$691$11,062$53,929
Investments - publicly-traded securities$0$0
Investments - other securities$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0
Investments - other$0$134,981$0$23,105
Land, buildings, and equipment less accumulated depreciation$5,169,727$3,128,372$3,236,145$3,092,291
Other assets, including program-related investments$3,573$1,810,935$1,998,411$2,013,108
Total liabilities$5,194,564$5,357,554$5,654,815$6,095,778
Accounts payable and accrued expenses$279,560$600,248$876,042$1,149,608
Grants payable$0$0$0$0
Deferred revenue$56,501$107,203$200,770$320,567
Loans from officers, directors, trustees, and key employees$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0
Mortgages and other notes payable$4,816,003$4,649,403$4,578,003$4,625,603
Other liabilities$42,500$700$0$0
Total liabilities and net assets/fund balances$5,210,376$5,206,638$5,407,743$5,472,460
Total net assets or fund balances$15,812$-150,916$-247,072$-623,318
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2004200520062007
Total revenue$0$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$0
Other expenses$0$0$0$0
Net unrealized gains on investments$0$0$0$0
Donated services and use of facilities$0$0$0$0
Recoveries of prior year grants$0$0$0$0
Other$0$0$0$0
Other revenue$0$0$0$0
Investment expenses$0$0$0$0
Other$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2004200520062007
Total expenses$0$0$0$0
Total expenses and losses per audited financial statements$0$0$0$0
Other revenue$0$0$0$0
Donated services and use of facilities$0$0$0$0
Prior year adjustments$0$0$0$0
Losses$0$0$0$0
Other$0$0$0$0
Other expenses$0$0$0$0
Investment expenses$0$0$0$0
Other$0$0$0$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
50$52,500$2,580$0
50$62,500$2,580$0
50$30,333$1,863$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings5
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?Yes
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?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
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?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
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?
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?
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)?No
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, 200619
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$-21,219$1,028,319
Program service revenue
Program service revenue 1000000$000$0$61,766
Program service revenue 2000000$000$0$504,913
Program service revenue 3000000$000$0$317,782
Program service revenue 4000000$000$0$8,877
Program service revenue 5000000$000$0$112,271
000000$000$0$61,766
000000$000$0$504,913
000000$000$0$317,782
000000$000$0$8,877
000000$000$0$87,589
000000$000$0$24,682
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)$1,480$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$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$-22,699$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
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$20,810
Other revenue000000$000$0$1,900
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
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?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
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 isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
2003200420052006
Total$0$933,888$792,177$634,177
Gifts, grants, and contributions received$0$-4,000$105,000$7,578
Membership fees received$0$901,667$682,750$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$624,404
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$2,767$2,525$1,109
Net income from unrelated business activities not included above$0$1,485$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$0$31,969$1,902$1,086
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
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$7,714$0$7,714
Gross receipts or sales less returns and allowances$47,531$0$0
Cost of goods sold$39,817$0$0
Gross profit$7,714$0$7,714
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$47,879
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$47,879
Unrelated business taxable income$40,165
Unrelated business taxable income before net operating loss deduction$40,165
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$40,165
Specific deduction$1,000
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IdNameAddressStateEstablishedTotal Income
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2Higher Ground Sun Valley IncPO BOX 6791, Ketchum, ID 83340-6791ID2006-10$2,879,123
3Oglebay Foundation IncOglebay Park Rt 88 North, Wheeling, WV 26003WV1996-07$2,827,399
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6Fryeburg Recreation Department IncPO BOX 152, Fryeburg, ME 04037-0152ME2001-02$394,927
7Geauga Center For Health And Wellness12460 Bass Lake Rd, Chardon, OH 44024-8315OH2000-01$362,850
8Dayton Motorcycle Club IncPO BOX 285, Dayton, OH 45401-0285OH2001-02$199,094
9Friends Of Community Fitness31 High St Ste A, Guilford, ME 04443-6382ME2005-09$127,461
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Number of organizations performing similar types of work
Alaska8
Alabama13
Arkansas14
Arizona21
California140
Colorado32
Connecticut15
District of Columbia11
Delaware6
Florida44
Georgia42
Hawaii6
Iowa34
Idaho9
Illinois34
Indiana26
Kansas23
Kentucky15
Louisiana11
Massachusetts46
Maryland20
Maine12
Michigan38
Minnesota28
Missouri25
Mississippi11
Montana19
North Carolina40
North Dakota2
Nebraska13
New Hampshire13
New Jersey37
New Mexico3
Nevada9
New York70
Ohio55
Oklahoma12
Oregon32
Pennsylvania65
Rhode Island3
South Carolina14
South Dakota9
Tennessee27
Texas64
Utah6
Virginia39
Vermont2
Washington33
Wisconsin45
West Virginia13
Wyoming6
International1
Total1,316

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