Fast Break Fund Inc
- Assets
- $142.2k
- Revenue
- $7.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Halfmoon, NY
- Founding
- 03/1999
- Data as of
- 09/2022
- EIN
- 14-1805594
Organization Overview
Fast Break Fund Inc is located in Halfmoon, NY. The organization was established in 1999. According to its NTEE Classification (N62) the organization is classified as: Basketball, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fast Break Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Fast Break Fund Inc generated $7.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (30.4%) each year. All expenses for the organization totaled $33.9k during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Fast Break Fund Inc has awarded 13 individual grants totaling $199,040. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SCHOLARSHIP ASSISTANCE FOR SUMMER SPORTS CAMPS AND LEAGUES, FUNDAMENTAL AND ADVANCED SKILL INSTRUCTION, ACADEMIC GUIDANCE, AND COLLEGE APPLICATION ASSISTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING SCHOLARSHIP ASSISTANCE FOR SUMMER SPORTS CAMPS, LEAGUES AND COLLEGE TUITION.
ORGANIZING AND OPERATING SUMMER SPORTS CAMPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony J Hynes President | OfficerTrustee | 0 | $0 |
Kevin Tully Treasurer | OfficerTrustee | 0 | $0 |
Lawrence R Hynes Board Member | Trustee | 0 | $0 |
Frank R Hart Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,251 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,251 |
| Total Program Service Revenue | $37 |
| Investment income | $891 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,179 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $32,843 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $33,866 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $142,174 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $142,174 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $142,174 |
| Total liabilities and net assets/fund balances | $142,174 |
Grants Awarded
Over the last fiscal year, Fast Break Fund Inc has awarded $18,983 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FOLLOW THRU BASKETBALL CAMP PURPOSE: SCHOLARSHIPS FOR BASKETBALL CAMP | $13,383 |
HUERTER BASKETBALL CAMPS PURPOSE: SCHOLARSHIPS FOR BASKETBALL CAMP | $5,600 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Fast Break Fund Inc has recieved totaling $346.
| Awarding Organization | Amount |
|---|---|
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $300 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $46 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rising Stars Inc Uniondale, NY | $2,003,624 | $2,371,167 |
Philadelphia Youth Basketball Inc Philadelphia, PA | $5,613,028 | $5,515,236 |
North Pittsburgh Youth Hockey Association Warrendale, PA | $437,392 | $1,288,322 |
Lightning Basketball Inc West Hempstead, NY | $12,742 | $1,304,966 |
Shooting Touch Hyde Park, MA | $603,933 | $1,175,352 |
Amateur Athletic Union Of The United States Meriden, CT | $77,652 | $760,443 |
Coaching For Change Inc Taunton, MA | $1,018,552 | $1,148,634 |
Brooklyn Youth Sports Club Inc Brooklyn, NY | $278,702 | $673,770 |
Renegades Southampton, PA | $191,636 | $540,042 |
Fundamental Hoops Inc North Andover, MA | $33,088 | $499,058 |
Ridgefield Basketball Association Inc Ridgefield, CT | $117,228 | $445,659 |
Mo Motion Inc New York, NY | $100,208 | $419,832 |