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Sport Maritimo Murtoense INC FY2024 filing

Not tax-deductible

Newark, NJ501(c)(7)Recreation & SportsEIN 22-2864310Revenue $31K in FY2024

On file with the IRSPo Box 5514, 07105-0514 · Newark, NJTax-exempt since May 2001

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Sport Maritimo Murtoense was formed in 1940 to provide community and educational funds which would united men and women of who desire to further both community and educational portuguese descent and heritage activities. Additionally, the club was formed to promote cultural growth with the american people and participation through sports and/or recreational activities.

2¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 7
filings with a surplus
Average surplus $1K a year · 3% of revenue · last 7 filings
Worth a look: a surplus in 2 of the last 7 filings.
Pt I · Ln 19 · 7 filings
Spent on programs
2%
of spending
Concern: 2% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
49 mo
of spending, in cash
Looks good: 48.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3K
0.9% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$31K
+8% vs prior year
Spent
$40K
To programs
2%
Net assets
$281K
By yearFY2019–FY2025
Revenue
$31K
FY2024▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2019$90K
FY2020$24K
FY2021$62K
FY2022$32K
FY2023$29K
FY2024$31K
FY2025$40K
Expenses
$40K
FY2024▼ -16%
Tap a bar for its year
Expenses by fiscal year
FY2019$50K
FY2020$35K
FY2021$46K
FY2022$39K
FY2023$48K
FY2024$40K
FY2025$42K
Net assets
$281K
FY2024▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2019$312K
FY2020$300K
FY2021$316K
FY2022$309K
FY2023$290K
FY2024$281K
FY2025$280K

From the FY2024 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2001.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

2 cents of each dollar spent went to programs.

Program services 2% · $900 Management & general 98% · $39K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Joao Coelho
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Sport Maritimo Murtoense INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes Portuguese heritage and community through sports, recreation, and educational funding.

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Provided by the organization

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1 program · $900 · in their own filed words · FY2024
01

Provide assistance to other nor for profit organizations within the community

$900program expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$31K
Ln 12
Other incomeLn 4–11$20K
Gifts and grantsLn 1h$11K
Investment incomeLn 3$272
Money outPt IX
$40K
Ln 25
Programscol B$900
Managementcol C$39K
Owns and owesPt X
$281K
net assets · Ln 32
Cash and savingsLn 1–2$163K
Total assetsLn 16$284K
LiabilitiesLn 26$3K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$11K
Investment incomeLn 3$272
Other incomeLn 4–11$20K
Total revenueLn 12$31K
Assets in detailPt X, end of year
CashLn 1$37K
SavingsLn 2$126K
Cash and savings togetherLn 1–2$163K
Land, buildings, equipmentLn 10c$112K
Total assetsLn 16$284K
LiabilitiesLn 26$3K
Net assetsLn 32$281K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$163K$163K
Land, buildings, equipmentLn 10c$117K$112K
Total assetsLn 16$293K$284K
LiabilitiesLn 26$3K$3K
Net assetsLn 32$290K$281K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$900$900
Accounting feesLn 11c$3K$3K
Advertising and promotionLn 12$660$660
Office expensesLn 13$304$304
TravelLn 17$1K$1K
Depreciation, depletion and amortizationLn 22$5K$5K
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$13K$13K
All other expensesLn 24e$9K$9K
Total functional expensesLn 25$40K$900$39K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $40K$42K−$2K$280K 990 PDF
FY2024 Viewing $31K$40K−$9K$281K 990 PDF
FY2023 $29K$48K−$19K$290K 990 PDF
FY2022 $32K$39K−$7K$309K 990 PDF
FY2021 $62K$46K$16K$316K 990 PDF
FY2020 $24K$35K−$11K$300K 990 PDF
FY2019 $90K$50K$40K$312K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $31,156 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,070$10,507
I-9 Program service revenue$0
I-10 Investment incomePrior year $323$272
I-11 Other revenuePrior year $15,468$20,377
I-12 Total revenuePrior year $28,861$31,156
I-13 Grants and similar amounts paidPrior year $2,850$900
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $44,803$39,212
I-18 Total expensesPrior year $47,653$40,112
I-19 Revenue less expensesPrior year −$18,792−$8,956
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $31,156 across 7 lines filed
Lines not itemized here account for $30,763 of total revenue; see the IRS return.
VIII-1b Membership dues$2,282
VIII-1f All other contributions, gifts and grants$8,225
VIII-1h Total contributions, gifts and grants$10,507
VIII-3 Investment incomeRelated to mission $272$272
VIII-6 Net rental income or lossRelated to mission −$21,532−$21,532
VIII-8 Net income from fundraising eventsExcluded from tax $11,146$11,146
VIII-12 Total revenueRelated to mission $9,503 · Unrelated business $0 · Excluded from tax $11,146$31,156
Part IX · Statement of functional expenses $40,112 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $900$900
IX-11c Accounting feesManagement $3,000$3,000
IX-12 Advertising and promotionManagement $660$660
IX-13 Office expensesManagement $304$304
IX-17 TravelManagement $1,395$1,395
IX-22 Depreciation, depletion and amortizationManagement $5,266$5,266
IX-23 InsuranceManagement $6,803$6,803
IX-24 Other expenses (24a–d)Management $13,060$13,060
IX-24e All other expensesManagement $8,724$8,724
IX-25 Total functional expensesPrograms $900 · Management $39,212 · Fundraising $0$40,112
Part X · Balance sheet $283,770 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $37,423$37,089
X-2 Savings and temporary cash investmentsStart of year $125,511$125,783
X-8 Inventories for sale or useStart of year $12,844$9,070
X-10c Land, buildings and equipment, netStart of year $117,094$111,828
X-16 Total assetsStart of year $292,872$283,770
X-25 Other liabilitiesStart of year $2,718$2,572
X-26 Total liabilitiesStart of year $2,718$2,572
X-32 Total net assets or fund balancesStart of year $290,154$281,198
X-33 Total liabilities and net assetsStart of year $292,872$283,770
Part XI · Reconciliation of net assets $281,198 net assets at year end
XI-1 Total revenue$31,156
XI-2 Total expenses$40,112
XI-3 Revenue less expenses−$8,956
XI-4 Net assets at start of year$290,154
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$281,198

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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