Teak Fellowship Inc
- Assets
- $17.6m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 59
- Location
- New York, NY
- Founding
- 06/1998
- Data as of
- 12/2021
- EIN
- 13-4011465
Organization Overview
Teak Fellowship Inc is located in New York, NY. The organization was established in 1998. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2021, Teak Fellowship Inc employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teak Fellowship Inc 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, Teak Fellowship Inc generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $3.2m during the year ending 12/2021. While expenses have increased by 3.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP ACADEMICALLY TALENTED NEW YORK CITY STUDENTS FROM LOW-INCOME FAMILIES EARN ADMISSION INTO THE MOST SELECTIVE SECONDARY SCHOOLS AND COLLEGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MIDDLE SCHOOL PROGRAMMING - SEE SCHEDULE O.
HIGH SCHOOL PROGRAMMING - SEE SCHEDULE O.
COLLEGE SUCCESS PROGRAMMING - SEE SCHEDULE O.
ADMISSIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wyndy Sloan Deputy Director | 55 | $137,106 | |
Denise Brown-Allen Executive Director | Officer | 65 | $131,222 |
Michelle Kim Senior Director Of Finance And Operations | 55 | $122,500 | |
Oyeshiku Carr Senior Director Of Middle School Academy | 55 | $121,725 | |
John F Green Fmr. Executive Director | Officer | 65 | $118,556 |
Marc Becker Chair | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $870,589 |
| Related organizations | $0 |
| Government grants | $313,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,579,918 |
| Noncash contributions included in lines 1a–1f | $220,975 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,764,207 |
| Total Program Service Revenue | $0 |
| Investment income | $364,639 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,281,790 |
| Net Income from Fundraising Events | -$68,803 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,341,833 |
| 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. | $279,812 |
| Compensation of current officers, directors, key employees. | $13,991 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,439,382 |
| Pension plan accruals and contributions | $82,233 |
| Other employee benefits | $167,573 |
| Payroll taxes | $148,008 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,659 |
| Fees for services: Accounting | $10,140 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $81,473 |
| Fees for services: Other | $11,124 |
| Advertising and promotion | $0 |
| Office expenses | $89,399 |
| Information technology | $32,486 |
| Royalties | $0 |
| Occupancy | $357,523 |
| Travel | $1,507 |
| 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 | $38,807 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,209,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,039 |
| Savings and temporary cash investments | $1,238,936 |
| Pledges and grants receivable | $133,150 |
| 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 | $82,434 |
| Net Land, buildings, and equipment | $258,878 |
| Investments—publicly traded securities | $15,904,920 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,619,357 |
| Accounts payable and accrued expenses | $50,885 |
| 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 | $0 |
| Total liabilities | $50,885 |
| Net assets without donor restrictions | $16,462,646 |
| Net assets with donor restrictions | $1,105,826 |
| 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 | $17,619,357 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Teak Fellowship Inc has recieved totaling $77,500.
| Awarding Organization | Amount |
|---|---|
Gray Foundation Cohoes, NY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $50,000 |
Kleinman Family Foundation Wilmington, DE PURPOSE: CHARITABLE EVENT | $25,000 |
Golub Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $2,500 |
Endowment Analysis
| Beg. Balance | $5,361,992 |
| Other Expense | $100,000 |
| Ending Balance | $5,261,992 |
Peer Organizations
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|---|---|---|
Springboard Collaborative Philadelphia, PA | $12,671,655 | $22,795,961 |
Christs Home Warminster, PA | $89,380,042 | $18,912,760 |
Family And Childrens Association Garden City, NY | $18,906,082 | $21,671,282 |
Innocence Project Inc New York, NY | $73,728,840 | $39,853,614 |
The Access Agency Inc Willimantic, CT | $5,450,809 | $18,469,051 |
Agency For Community Empowerment Of Nepa Scranton, PA | $6,588,255 | $19,491,125 |
Ahavat Yisroel Humanity Inc Brooklyn, NY | $8,284,254 | $21,769,721 |
Family & Childrens Agency Inc Norwalk, CT | $7,156,227 | $18,049,898 |
Catholic Family & Community Services Clifton, NJ | $3,341,340 | $18,611,591 |
Dr Gertrude A Barber In Home Services Inc Erie, PA | $4,360,447 | $17,320,654 |
Ao North America Inc Wayne, PA | $10,460,064 | $15,724,733 |
Pro Action Of Steuben And Yates Inc Bath, NY | $5,623,306 | $16,689,499 |