Nonprofit · EIN 56-1844934
NET-WORKS INC
Tax-exempt · APEX, NC 27502
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-EZ | $197,034 | $191,949 | $5,085 | $23,758 | $2,123 | $21,635 |
| December 31, 2023 | 990 | $197,832 | $189,501 | $8,331 | $17,638 | $1,088 | $16,550 |
Financial details: 990-EZ for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $70,700
- Program service revenue
- $126,134
- Other revenue
- $200
Expenses
- Compensation of officers, directors and key employees
- $73,150
- Salaries, compensation and benefits (total)
- $158,835
- Professional fees and payments to contractors
- $4,609
- Occupancy
- $2,093
- Printing, publications and postage
- $434
- Other expenses
- $25,978
- Program services (functional)
- $142,987
Balance sheet and other
- Total assets, start of year
- $17,638
- Total assets, end of year
- $23,758
- Total liabilities, end of year
- $2,123
- Net assets, end of year
- $21,635
- Cash, savings and investments
- $23,134
- Gross receipts
- $197,034
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-EZ for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL HOLLIS | PRESIDENT | 40 | $73,150 |
| JEFF MONROE | BOARD MEMBER | 1 | $0 |
| RICK KING | BOARD MEMBER | 1 | $0 |
| SHAVELIK RANDOLPH | BOARD MEMBER | 1 | $0 |
| STANLEY WERB | CHAIRMAN | 5 | $0 |
| ROBERT MONROE | SECRETARY/TREASURER | 1 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL HOLLIS | PRESIDENT Officer | 40 | $73,150 |
| JEFF MONROE | BOARD MEMBER Trustee or director | 1 | $0 |
| RICK KING | BOARD MEMBER Trustee or director | 1 | $0 |
| SHAVELIK RANDOLPH | BOARD MEMBER Trustee or director | 1 | $0 |
| STANLEY WERB | CHAIRMAN Trustee or director, Officer | 5 | $0 |
| ROBERT MONROE | SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 448, APEX, NC 27502-0448
- Signed the 990-EZ
- MICHAEL HOLLIS, PRESIDENT
- Phone
- (919) 233-8801
- Website
- WWW.NETWORKSBASKETBALL.COM
- Return prepared by
- ELLIOTT DAVIS PLLC
Mission
PROVIDE INSTRUCTION IN BASKETBALL FOR CHILDREN AS A FOUNDATION FOR CHARACTER DEVELOPMENT. SCHOLARSHIPS ARE PROVIDED FOR INDIVIDUALS UNABLE TO PAY.
Program accomplishments
- PROVIDED CLINICS FOR CHILDREN TO DEVELOP BASKETBALL SKILLS, TO PROMOTE TEAMWORK AND INDIVIDUAL WORK ETHICS, AND PROVIDED A SAFE AND INSTRUCTIVE ENVIRONMENT OUTSIDE OF SCHOOL HOURS.Expenses $142,987
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-1844934
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1995
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N62Z)
- Assets (IRS master file)
- $23,758
- Income (IRS master file)
- $197,034
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2024 | $197,034 | $191,949 | $23,758 | XML |
| 990 | December 2023 | $197,832 | $189,501 | $17,638 | XML |
| 990 | December 2022 | $190,156 | $189,394 | $9,165 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1844934).
Questions about NET-WORKS INC
- What is the EIN of NET-WORKS INC?
- The employer identification number (EIN) of NET-WORKS INC is 56-1844934.
- Is NET-WORKS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1995.
- Are donations to NET-WORKS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NET-WORKS INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NET-WORKS INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NET-WORKS INC last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2024.
- Who are the officers and directors of NET-WORKS INC?
- The 990-EZ for the year ended December 31, 2024 lists 6 people; 1 received compensation from the organization, the highest $73,150 (MICHAEL HOLLIS, PRESIDENT).
- How much revenue does NET-WORKS INC have?
- On its 990-EZ for the year ended December 31, 2024 it reported revenue of $197,034, expenses of $191,949 and total assets of $23,758 at year end.
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All nonprofits in APEX · North Carolina · Recreation and sports