The Philatelic Foundation
- Assets
- $4.1m
- Revenue
- $1.1m
- Investments
- $2.6m
- Employees
- 5
- Location
- New York, NY
- Founding
- 06/1946
- Data as of
- 12/2021
- EIN
- 13-1523140
Organization Overview
The Philatelic Foundation is located in New York, NY. The organization was established in 1946. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Philatelic Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philatelic Foundation 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 12/2021, Philatelic Foundation generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $802.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE AND ADVANCE PHILATELY IN ALL ITS BRANCHES THROUGH PUBLICATIONS, WEBSITE, DVD'S AND TO PROVIDE EXPERT ADVICE ABOUT STAMPS AND COVERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPERT COMMITTEE PROVIDES THE SERVICE OF EXPERTIZING STAMPS AND COVERS.
EDUCATION/PUBLICATION COMMITTEE PROMOTES PHILATELY THROUGH EDUCATIONAL SEMINARS, MEETINGS AND PUBLICATIONS, AS WELL AS PRODUCING PICTURES, SLIDES AND PHILATELIC PUBLICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Lyons Exec Director | 30 | $93,333 | |
Robert G Rose Chairman | OfficerTrustee | 2 | $0 |
Stephen Reinhard Vice Chairman | OfficerTrustee | 0.5 | $0 |
Harry Olivar Treasurer | OfficerTrustee | 0.5 | $0 |
Dr Vernon Morris Secretary | OfficerTrustee | 0.5 | $0 |
George J Kramer Chair Emeritus | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $66,812 |
| All other contributions, gifts, grants, and similar amounts not included above | $32,581 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $99,393 |
| Total Program Service Revenue | $689,583 |
| Investment income | $77,223 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $197,388 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,063,587 |
| 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. | $93,333 |
| Compensation of current officers, directors, key employees. | $61,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $241,996 |
| Pension plan accruals and contributions | $13,202 |
| Other employee benefits | $48,942 |
| Payroll taxes | $25,335 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,654 |
| Fees for services: Other | $8,760 |
| Advertising and promotion | $8,542 |
| Office expenses | $23,990 |
| Information technology | $19,350 |
| Royalties | $0 |
| Occupancy | $72,130 |
| Travel | $13,341 |
| 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 | $30,346 |
| Insurance | $21,434 |
| All other expenses | $8,358 |
| Total functional expenses | $802,794 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $78,883 |
| Savings and temporary cash investments | $268,253 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $228,203 |
| 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 | $8,136 |
| Net Land, buildings, and equipment | $985,519 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,567,467 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,136,461 |
| Accounts payable and accrued expenses | $28,696 |
| 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 | $47,169 |
| Total liabilities | $75,865 |
| Net assets without donor restrictions | $3,689,184 |
| Net assets with donor restrictions | $371,412 |
| 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 | $4,136,461 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Philatelic Foundation has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
American Gift Fund Wilmington, DE PURPOSE: OPERATIONS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Westchester Country Club Inc Rye, NY | $77,553,664 | $42,480,746 |
Elderhostel Inc Boston, MA | $135,068,845 | $25,807,817 |
Yale Club Of New York City New York, NY | $50,588,779 | $20,944,634 |
Old Westbury Golf & Country Club Inc Old Westbury, NY | $24,637,751 | $16,881,231 |
Innis Arden Golf Club Inc Old Greenwich, CT | $33,992,814 | $14,860,228 |
Hudson National Golf Club Inc Croton On Hudson, NY | $51,687,185 | $12,086,027 |
Nantucket Golf Club Inc Siasconset, MA | $41,080,926 | $8,761,983 |
Great Harbor Yacht Club Inc Nantucket, MA | $67,641,341 | $7,821,481 |
Lake Naomi Club Pocono Pines, PA | $31,181,948 | $14,377,164 |
Pine Valley Golf Club Pine Valley, NJ | $27,464,552 | $15,641,646 |
Plainfield Country Club Edison, NJ | $20,539,827 | $10,734,974 |
Glen Ridge Country Club Glen Ridge, NJ | $4,315,456 | $11,200,681 |