Touro Fraternal Association
- Assets
- $19.4m
- Revenue
- $560.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Cranston, RI
- Founding
- 05/1992
- Data as of
- 12/2023
- EIN
- 05-0228700
Organization Overview
Touro Fraternal Association is located in Cranston, RI. The organization was established in 1992. According to its NTEE Classification (Y40) the organization is classified as: Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Touro Fraternal Association is a 501(c)(8) and as such, is described as a "Fraternal Beneficiary Society and/or Association" by the IRS.
For the year ending 12/2023, Touro Fraternal Association generated $560.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $323.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATE AN ORGANIZATION FOR FRATERNAL PURPOSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE AN ORGANIZATION FOR FRATERNAL PURPOSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stevan Labush Chairman | OfficerTrustee | 5 | $0 |
Jeffrey Davis Vice Chairman | OfficerTrustee | 2 | $0 |
Bruce Wasser Secretary | OfficerTrustee | 2 | $0 |
Jonathan Finkle Treasurer | OfficerTrustee | 2 | $0 |
Barry Ackerman Member | Trustee | 1 | $0 |
Larry Berman Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $22,433 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,433 |
| Total Program Service Revenue | $3,456 |
| Investment income | $534,988 |
| 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 | $560,877 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,000 |
| 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 | $32,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,800 |
| 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 | $15,300 |
| Advertising and promotion | $0 |
| Office expenses | $8,385 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,328 |
| 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 | $8,730 |
| Insurance | $18,337 |
| All other expenses | $38,642 |
| Total functional expenses | $323,917 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,990 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,563 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $94,068 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,398 |
| Net Land, buildings, and equipment | $247,844 |
| Investments—publicly traded securities | $18,889,170 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $151,219 |
| Total assets | $19,433,252 |
| Accounts payable and accrued expenses | $26,844 |
| Grants payable | $0 |
| Deferred revenue | $20,581 |
| 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 | $1,368,848 |
| Total liabilities | $1,416,273 |
| Net assets without donor restrictions | $18,016,979 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $19,433,252 |