Phelps Association
- Assets
- $9.0m
- Revenue
- $541.6k
- Investments
- $186.4k
- Employees
- 5
- Location
- New Haven, CT
- Founding
- 07/1938
- Data as of
- 06/2022
- EIN
- 06-6069051
Organization Overview
Phelps Association is located in New Haven, CT. The organization was established in 1938. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Phelps Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phelps Association is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Phelps Association generated $541.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $457.8k during the year ending 06/2022. While expenses have increased by 2.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
TO SUPPORT THE EDUCATIONAL, SOCIAL AND PROFESSIONAL DEVELOPMENT OF ITS MEMBERS THROUGH ASSOCIATION ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MOST OF THE ASSOCIATIONS EXPENSES ARE FOR THE MAINTAINANCE & OPERATION OF A BUILDING USED BY THE UNDERGRADUATE MEMBERS AT YALE UNIVERSITY TO FURTHER THE EDUCATIONAL, SOCIAL AND PROFESSIONAL DEVELOPMENT OF ITS MEMBERS.
THE ASSOCIATION PROVIDES GRANTS AND SCHOLARSHIPS TO YALE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Ogilvie Governor | Trustee | 5 | $0 |
David Good Secretary | OfficerTrustee | 3 | $0 |
Nathaniel Cartmell President/governor | OfficerTrustee | 5 | $0 |
John Barker Governor | Trustee | 1 | $0 |
Hunter Reisner Governor | Trustee | 1 | $0 |
John Schmidt Governor | 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 | $155,092 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $155,092 |
| Total Program Service Revenue | $0 |
| Investment income | $199,903 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $186,571 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $541,566 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500 |
| Grants and other assistance to domestic individuals. | $6,000 |
| 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 | $62,826 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,533 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $42,207 |
| Fees for services: Other | $3,178 |
| Advertising and promotion | $0 |
| Office expenses | $7,949 |
| Information technology | $381 |
| Royalties | $0 |
| Occupancy | $136,522 |
| Travel | $2,500 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,734 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $141,930 |
| Insurance | $6,035 |
| All other expenses | $30,047 |
| Total functional expenses | $457,842 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,679 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $27,965 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,771,556 |
| Investments—publicly traded securities | $5,908,464 |
| Investments—other securities | $186,362 |
| Investments—program-related | $0 |
| Intangible assets | $16,572 |
| Other assets | $0 |
| Total assets | $9,024,598 |
| Accounts payable and accrued expenses | $102,993 |
| 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 | $0 |
| Other liabilities | $13,643 |
| Total liabilities | $116,636 |
| Net assets without donor restrictions | $8,239,652 |
| Net assets with donor restrictions | $668,310 |
| 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 | $9,024,598 |