Overview
What is Gym Rats Inc?
Gym Rats Inc is a nonprofit organization situated in Fort Wayne, Indiana. Their primary focus is to encourage the sport of basketball among boys aged 10-19, simultaneously fostering character development and aiming to decrease juvenile delinquency. Through organized basketball tournaments, they provide essential equipment and qualified instructors. The organization's mission extends beyond teaching basketball skills; it also aims to instill core values such as self-respect, emotional and physical well-being, work ethic, confidence, respect for community, and commitment in youth participants and adult coaches. This is done in an attempt to empower the youth and transform them into positive influences in their communities.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 0-Star out of Four Star rating (45%)
Gym Rats Inc has received a low rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The organization scored poorly on several metrics, particularly in governance, with a complete lack of independent board members and missing key policies such as a whistleblower policy and document retention procedures.
Despite these shortcomings, Gym Rats Inc does demonstrate strong financial management in certain areas, such as a high program expense ratio of 99.75%, suggesting that almost all of its spending is directed towards its programs. Additionally, there is no record of material diversion of assets, which is a positive aspect of the organization's financial integrity.
Nonetheless, the absence of a website listed on its tax form and the lack of transparency in other areas raise red flags for potential donors and stakeholders. The overall rating reflects a need for Gym Rats Inc to improve its governance structure and enhance its accountability to foster trust and support within the community.
This AI summary has been generated from information found on Charity Navigator.
Is Gym Rats Inc legitimate?
Gym Rats Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Gym Rats Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Gym Rats Inc?
Gym Rats Inc's mission is centered around teaching basketball to children between the ages of 5 and 19, while simultaneously fostering character development and aiming to reduce juvenile delinquency. The organization operates with the objective of creating a learning environment to instill fundamental values in youth participants and adult coaches. These values include instilling a sense of self-respect, emotional and physical well-being, work ethic, confidence, respect for community, and commitment in the participants, all achieved through the medium of basketball. The mission of Gym Rats Inc is to empower the youth by equipping them with life lessons and promoting positive influences within their communities.
Who is the CEO of Gym Rats Inc?
William T Hensley is the Ceo of Gym Rats Inc. The CEO's salary of Gym Rats Inc is $0 and their total compensation is $0.
What is the revenue of Gym Rats Inc?
Gym Rats Inc's revenue in 2022 was $2,234,385.
Who are the executives of Gym Rats Inc and what are their salaries?
Here are 5 key members and their salaries (Gym Rats Inc's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Gym Rats Inc?
Gym Rats Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Gym Rats Inc
Gym Rats Inc, a nonprofit organization, is dedicated to educating children in the sport of basketball while simultaneously fostering character development and reducing juvenile delinquency. Their mission is to establish a teaching and learning environment that instills fundamental core values in youth participants between the ages of 5 and 19, as well as adult coaches. By doing so, Gym Rats Inc aims to empower the youth of today, instilling in them a sense of self-respect, emotional and physical well-being, work ethic, confidence, respect for community, and commitment. This is achieved through the medium of basketball, enabling these individuals to become positive influences within their communities. The organization's objective is to transform these young people into responsible and respectful members of society, equipped with the necessary life skills to navigate their personal and professional lives successfully.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Gym Rats Inc. significantly impacts the Fort Wayne community by teaching children the sport of basketball while fostering essential life skills and character development. By providing qualified instructors and necessary equipment, the organization equips young athletes, aged 10-19, with the knowledge and skills to excel in basketball. More than just a sporting endeavor, Gym Rats Inc. places a strong emphasis on character building, aiming to reduce juvenile delinquency through its structured programs.
Additionally, the organization organizes basketball tournaments that not only allow participants to showcase their skills but also promote teamwork, discipline, and a sense of community. With a mission to instill core values such as self-respect, emotional and physical well-being, and work ethic, Gym Rats Inc. creates a positive learning environment where youth can thrive. Through these initiatives, the organization empowers young participants to become confident, responsible individuals who contribute positively to their communities.
This information is meant to be a general summary of Gym Rats Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $2,234,385
Assets and Liabilities:
- Total Assets: $64,352
- Total Liabilities: $0
- Net Assets: $64,352
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
1994
Phone
(260) 471-5270Principal Officer
William T Hensley
Main Address
PO BOX 80640, FORT WAYNE, IN, 46898
NTEE Category
Code: N62Z - Recreation
If you are a representative of Gym Rats Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.