Hotel Association Of New York City Inc
- Assets
- $7.7m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 8
- Location
- New York, NY
- Founding
- 09/1976
- Data as of
- 12/2023
- EIN
- 13-0855500
Organization Overview
Hotel Association Of New York City Inc, operating under the name Hotel Association Of Nyc Inc, is located in New York, NY. The organization was established in 1976. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Hotel Association Of Nyc Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hotel Association Of Nyc Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Hotel Association Of Nyc Inc generated $5.2m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $6.7m 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
TO PROMOTE THE HOTEL INDUSTRY IN NEW YORK CITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP - THE ASSOCIATION OFFERS TWO DIFFERENT TYPES OF MEMBERSHIP: HOTEL MEMBERSHIP AND ALLIED MEMBERSHIP. BENEFITS PROVIDED TO HOTEL MEMBERS INCLUDE LABOR/LEGAL COUNCIL, STATE/CITY LEGISLATIVE REPRESENTATION, ADVICE AND GUIDANCE TO INDIVIDUAL HOTELS IN THE AREA OF FIRE PROTECTION AND PUBLIC SAFETY, AND AUTOMATIC MEMBERSHIP IN THE NEW YORK STATE HOSPITALITY & TOURISM ASSOCIATION, AND THE AMERICAN HOTEL AND LODGING ASSOCIATION. COMPANIES THAT PROVIDE SERVICES AND PRODUCTS TO THE INDUSTRY CAN BECOME ALLIED MEMBERS. AS AN ALLIED MEMBER, SUPPLIERS ARE AFFORDED AN EXCELLENT OPPORTUNITY TO MEET AND NETWORK WITH EXECUTIVES OF MAJOR NEW YORK CITY HOTELS, AND ATTEND VARIOUS SOCIAL FUNCTIONS.
CONTINGENCY FUND - THE ORGANIZATION NEGOTIATES MANAGEMENT HOTEL CONTRACTS WITH THE HOTEL TRADES COUNCIL AND WORKS TOWARDS THE ELIMINATION OF ILLEGAL HOTELS IN NEW YORK CITY. A MONTHLY FEE IS CHARGED TO MEMBERS BASED ON AVAILABLE ROOMS PER MONTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vijay Dandapani President | OfficerTrustee | 40 | $684,156 |
Albert Fernandez CFO | Officer | 40 | $306,474 |
Niki Franzitta Vice President | Officer | 40 | $260,926 |
Neil Tai Technology Assoc | 40 | $111,985 | |
Alexander Fernandez Associate | 40 | $110,385 | |
Steve Batta Secretary | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Office Of The Impartial Chairman Advisory | 12/30/23 | $359,427 |
Kasirer Llc Consulting | 12/30/23 | $180,000 |
Ellenoff Grossman & Schole Llp Labor & Legal Counsel | 12/30/23 | $2,255,327 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,374,316 |
| Investment income | $169,700 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$723,393 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,175,147 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,380 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,251,556 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $410,719 |
| Pension plan accruals and contributions | $78,169 |
| Other employee benefits | $234,472 |
| Payroll taxes | $87,932 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,561,706 |
| Fees for services: Accounting | $46,085 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $818,942 |
| Advertising and promotion | $0 |
| Office expenses | $53,356 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $471,539 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $193,612 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,349 |
| Insurance | $0 |
| All other expenses | $56,178 |
| Total functional expenses | $6,675,765 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,022 |
| Savings and temporary cash investments | $423,685 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $569,885 |
| 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 | $166,679 |
| Net Land, buildings, and equipment | $145,738 |
| Investments—publicly traded securities | $2,780,425 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,605,336 |
| Total assets | $7,695,770 |
| Accounts payable and accrued expenses | $607,094 |
| 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 | $3,564,723 |
| Total liabilities | $4,171,817 |
| Net assets without donor restrictions | $3,523,953 |
| 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 | $7,695,770 |