Coveleigh Club Inc
- Assets
- $27.3m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 272
- Location
- Rye, NY
- Founding
- 08/1956
- Data as of
- 12/2023
- EIN
- 13-1785692
Organization Overview
Coveleigh Club Inc is located in Rye, NY. The organization was established in 1956. 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 12/2023, Coveleigh Club Inc employed 272 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coveleigh Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Coveleigh Club Inc generated $8.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $6.6m during the year ending 12/2023. While expenses have increased by 4.4% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FOR THE MUTUAL ASSISTANCE, IMPROVEMENT OF ITS MEMBERS SOCIALLY AND PHYSICALLY AND TO ENCOURAGE AND PROVIDE A MEANS FOR THE ENJOYMENT OF OUTDOOR AND INDOOR SPORTS.
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 |
|---|---|---|---|
Shan Mohomedally President | OfficerTrustee | 15 | $0 |
David Jackson Vice President/secretary | OfficerTrustee | 15 | $0 |
Mark Sims Treasurer | OfficerTrustee | 15 | $0 |
Janice Frank Governor | Trustee | 15 | $0 |
Jenifer Kelley-Smailes Governor | Trustee | 10 | $0 |
Chiann Roveto Governor | Trustee | 10 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,397,252 |
| Investment income | $103,159 |
| 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 | $2,613,119 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,422,714 |
| 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. | $321,417 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,100,582 |
| Pension plan accruals and contributions | $34,160 |
| Other employee benefits | $191,007 |
| Payroll taxes | $283,103 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,777 |
| Fees for services: Accounting | $30,153 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $370,030 |
| Advertising and promotion | $0 |
| Office expenses | $118,557 |
| Information technology | $113,814 |
| Royalties | $0 |
| Occupancy | $527,237 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $137,441 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $153,433 |
| Insurance | $240,831 |
| All other expenses | $103,206 |
| Total functional expenses | $6,646,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $590,880 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $519,105 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $197,501 |
| Prepaid expenses and deferred charges | $142,063 |
| Net Land, buildings, and equipment | $25,699,467 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $139,632 |
| Total assets | $27,288,848 |
| Accounts payable and accrued expenses | $382,115 |
| 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 | $4,179,310 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $150,128 |
| Total liabilities | $4,711,553 |
| Net assets without donor restrictions | $22,577,295 |
| 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 | $27,288,848 |