Morys Association Inc
- Assets
- $1.0m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 53
- Location
- New Haven, CT
- Founding
- 10/1943
- Data as of
- 06/2022
- EIN
- 06-0460080
Organization Overview
Morys Association Inc is located in New Haven, CT. The organization was established in 1943. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 06/2022, Morys Association Inc employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morys Association Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2022, Morys Association Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $1.5m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 4 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas B Ketchum President | OfficerTrustee | 10 | $0 |
Henry Bertram Vice President | OfficerTrustee | 5 | $0 |
Deborah Armitage Treasurer | OfficerTrustee | 5 | $0 |
Amy S Rich Secretary | OfficerTrustee | 1 | $0 |
Weili Cheng Govenor | Trustee | 1 | $0 |
Basie Gitlin Govenor | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $239,784 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $239,784 |
| Total Program Service Revenue | $330,113 |
| Investment income | $1 |
| 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 | $646,029 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,303,601 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $692,332 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $55,193 |
| Payroll taxes | $97,950 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,130 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $130,618 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $112,456 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,861 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $206,553 |
| Insurance | $44,178 |
| All other expenses | $0 |
| Total functional expenses | $1,490,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,910 |
| Savings and temporary cash investments | $809 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $144,837 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $31,388 |
| Prepaid expenses and deferred charges | $63,648 |
| Net Land, buildings, and equipment | $735,217 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,022,809 |
| Accounts payable and accrued expenses | $65,277 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $264,853 |
| Other liabilities | $2,724 |
| Total liabilities | $332,854 |
| Net assets without donor restrictions | $689,955 |
| 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 | $1,022,809 |