Cobl FY2024 filing

Tax-deductible

Penn Valley, PA501(c)(3)Recreation & SportsEIN 87-0887440Revenue $249K in FY2024

On file with the IRScityofbasketballlove.com614 Fairview Rd, 19072-1416 · Penn Valley, PATax-exempt since Dec 2021Publicly supported — 509(a)(2)

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Operate the website www.cityofbasketballlove.com which provides free of charge content reporting on high school and college basketball. Cobl also runs basketball events for high school students as well as offer internships and mentoring to high school and college students interested in journalism.

501(c)(3) charity; gifts are tax-deductible.
68¢ of each $1 spent went to programs.
$72K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
0 of 2
filings with a surplus
Average deficit $2K a year · 1% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$72K
to officers and key staff · 29% of spending
Worth a look: pay to officers and key staff is 29% of spending; over 20%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$20K
46% of total assets
Looks good: liabilities are 46% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 10 voting members
Looks good: 8 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$249K
+91% vs prior year
Spent
$251K
To programs
68%
Net assets
$23K
By yearFY2022–FY2025
Revenue
$249K
FY2024▲ +91%
Tap a bar for its year
Revenue by fiscal year
FY2022$105K
FY2023$130K
FY2024$249K
FY2025$218K
Expenses
$251K
FY2024
Tap a bar for its year
Expenses by fiscal year
FY2022Not on file
FY2023Not on file
FY2024$251K
FY2025$220K
Net assets
$23K
FY2024▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2022$11K
FY2023$22K
FY2024$23K
FY2025$24K

From the FY2024 Form 990 (year ending June 2024) · see the original

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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 Dec 2021.

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

Where the money goes

68 cents of each dollar spent went to programs.

Program services 68% · $171K Management & general 32% · $80K

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

11 people listed on the 990; $72K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President, E
$40,950Pt VII · Sec A
Assistant Ed
$30,750Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary/Di
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Josh Verlin’s $48K as President, E is at the 61st percentile of top reported officer pay among 1017 $100K–1M recreation & sports nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022
Josh Verlin$48,200$40,950$30,150$19,000
Owen McCue$13,350$30,750$32,100—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Provides free basketball news, runs events, and offers journalism internships and mentoring.

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Provided by the organization

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2 programs · $171K · in their own filed words · FY2023
01

Cobl successfully ran 12 high school camps and events in the fiscal year ended 6/30/2024. These events helped to showcase high school players to college coaches for recruiting purposes as well as provide an opportunity for high school teams to compete with teams outside of their conferences.

$109Kprogram expense
02

Cobl successfully ran it's website, publishing over 1,000 articles free of charge to all readers.

$61Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$6K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$249K
Ln 12
Fees for servicesLn 2g$168K
Gifts and grantsLn 1h$80K
Other incomeLn 4–11$857
Money outPt IX
$251K
Ln 25
Programscol B$171K
Managementcol C$80K
Owns and owesPt X
$23K
net assets · Ln 32
Cash and savingsLn 1–2$38K
Total assetsLn 16$43K
LiabilitiesLn 26$20K
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a10
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$80K
Fees for servicesLn 2g$168K
Other incomeLn 4–11$857
Total revenueLn 12$249K
Assets in detailPt X, end of year
CashLn 1$38K
Cash and savings togetherLn 1–2$38K
Total assetsLn 16$43K
LiabilitiesLn 26$20K
Net assetsLn 32$23K
OperationsPt I, VI
EmployeesI 52
VolunteersI 615
Fiscal year endsHeaderJune
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$33K$38K
Total assetsLn 16$40K$43K
LiabilitiesLn 26$18K$20K
Net assetsLn 32$22K$23K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$41K$41K
Pay of disqualified personsLn 6$31K$31K
Other employee benefitsLn 9$581$581
Payroll taxesLn 10$7K$7K
Other fees for servicesLn 11g$61K$61K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$193$193
Information technologyLn 14$1K$799$369
TravelLn 17$675$675
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$100K$99K$700
Total functional expensesLn 25$251K$171K$80K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $218K$220K−$3K$24K 990 PDF
FY2024 Viewing $249K$251K−$2K$23K 990 PDF
FY2023 $130K$22K 990 PDF
FY2022 $105K$11K 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 $248,901 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $76,024$80,382
I-9 Program service revenuePrior year $36,951$167,662
I-10 Investment income$0
I-11 Other revenuePrior year $17,152$857
I-12 Total revenuePrior year $130,127$248,901
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $65,570$79,000
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $40,609$172,039
I-18 Total expensesPrior year $106,179$251,039
I-19 Revenue less expensesPrior year $23,948−$2,138
Part VI · Governance 8 of 10 board members independent, 5 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members8
VI-2 Family or business relationship among officers or directorsYes
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
Part VIII · Statement of revenue $248,901 across 4 lines filed
Lines not itemized here account for $857 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$80,382
VIII-1h Total contributions, gifts and grants$80,382
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $167,662$167,662
VIII-12 Total revenueRelated to mission $168,519$248,901
Part IX · Statement of functional expenses $251,039 across 12 lines filed
IX-5 Pay of current officers, directors and key staffManagement $40,950$40,950
IX-6 Pay of disqualified personsManagement $30,750$30,750
IX-9 Other employee benefitsManagement $581$581
IX-10 Payroll taxesManagement $6,719$6,719
IX-11g Other fees for servicesPrograms $61,380$61,380
IX-12 Advertising and promotionPrograms $4,513$4,513
IX-13 Office expensesManagement $193$193
IX-14 Information technologyPrograms $799 · Management $369$1,168
IX-17 TravelPrograms $675$675
IX-22 Depreciation, depletion and amortizationPrograms $1,620$1,620
IX-23 InsurancePrograms $2,710$2,710
IX-24 Other expenses (24a–d)Programs $99,080 · Management $700$99,780
IX-25 Total functional expensesPrograms $170,777 · Management $80,262 · Fundraising $0$251,039
Part X · Balance sheet $43,084 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $33,254$38,083
X-8 Inventories for sale or useStart of year $7,186$5,001
X-16 Total assetsStart of year $40,440$43,084
X-25 Other liabilitiesStart of year $13,524$385
X-26 Total liabilitiesStart of year $18,332$19,714
X-27 Net assets without donor restrictionsStart of year $22,108$23,370
X-32 Total net assets or fund balancesStart of year $22,108$23,370
X-33 Total liabilities and net assetsStart of year $40,440$43,084
Part XI · Reconciliation of net assets $23,370 net assets at year end
XI-1 Total revenue$248,901
XI-2 Total expenses$251,039
XI-3 Revenue less expenses−$2,138
XI-4 Net assets at start of year$22,108
XI-8 Prior period adjustments$3,400
XI-10 Net assets at end of year$23,370

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

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