Fragrance Foundation Inc
- Assets
- $4.4m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 10
- Location
- New York, NY
- Founding
- 03/1950
- Data as of
- 12/2021
- EIN
- 13-6162393
Organization Overview
Fragrance Foundation Inc is located in New York, NY. The organization was established in 1950. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. As of 12/2021, Fragrance Foundation Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fragrance Foundation 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 12/2021, Fragrance Foundation Inc generated $2.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $2.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.2%) 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 INSPIRE THE WORLD TO DISCOVER THE ARTISTRY AND PASSION OF FRAGRANCE. TO OBTAIN AND DISTRIBUTE EDUCATIONAL MATERIALS RELATING TO SUCH PRODUCTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL FRAGRANCE FOUNDATION AWARDS EVENT - ACKNOWLEDGES AND HONORS THE CREATIVITY OF THE FRAGRANCE INDUSTRY.
CIRCLE OF CHAMPIONS - PAYS TRIBUTE TO AN INDIVIDUAL WHO HAS MADE A NOTEWORHTY IMPACT IN THE FRAGRANCE INDUSTRY.
OTHER EVENTS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda G Levy President | Officer | 40 | $468,500 |
Bd Of Drectors-See Attached Director | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hand Baldachin & Amburgey Llp Legal | 12/30/17 | $44,815 |
Gala Productions Llc Event Planning | 12/30/17 | $29,959 |
Serendipitee Nyc Llc Fragrance Training | 12/30/17 | $41,367 |
Buero New York Brand Image Design | 12/30/17 | $239,088 |
World Talent Agency Llc Talent Agency | 12/30/17 | $102,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $980,100 |
| 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 | $980,100 |
| Total Program Service Revenue | $1,577,255 |
| Investment income | $17,602 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,574,957 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100,000 |
| 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. | $510,373 |
| Compensation of current officers, directors, key employees. | $76,556 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $548,457 |
| Pension plan accruals and contributions | $150,000 |
| Other employee benefits | $22,490 |
| Payroll taxes | $67,434 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,520 |
| Fees for services: Accounting | $12,844 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $71,128 |
| Advertising and promotion | $0 |
| Office expenses | $51,756 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $130,081 |
| Travel | $24,742 |
| 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 | $808 |
| Insurance | $47,468 |
| All other expenses | $49,982 |
| Total functional expenses | $2,375,918 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,874,633 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,006,896 |
| 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 | $20,067 |
| Net Land, buildings, and equipment | $659 |
| Investments—publicly traded securities | $444,894 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,594 |
| Total assets | $4,383,743 |
| Accounts payable and accrued expenses | $157,863 |
| Grants payable | $0 |
| Deferred revenue | $1,519,200 |
| 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 | $276,285 |
| Total liabilities | $1,953,348 |
| Net assets without donor restrictions | $2,430,395 |
| 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 | $4,383,743 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hyacinth Foundation A New Jersey Nonprofit Corporation New Brunswick, NJ | $2,127,419 | $9,677,408 |
William & Mary Greve Foundation Inc Norfolk, CT | $26,806,956 | $4,445,583 |
American Vacuum Society Incorporated New York, NY | $15,639,477 | $3,580,323 |
Students 2 Science East Hanover, NJ | $4,913,280 | $4,122,884 |
Art Science Research Laboratory Inc New York, NY | $240,453 | $3,090,633 |
Interaction Institute Boston, MA | $4,627,027 | $4,733,561 |
New York Wine Grape Foundation Penn Yan, NY | $1,037,774 | $2,662,535 |
Fragrance Foundation Inc New York, NY | $4,383,743 | $2,574,957 |
Policy Research Inc Delmar, NY | $614,854 | $1,916,396 |
The Solar Foundation Albany, NY | $0 | $1,336,664 |
Osteoarthritis Research Society International Inc Mount Laurel, NJ | $3,489,953 | $1,360,063 |
Research Institute For Learning And Development Lexington, MA | $900,600 | $1,374,678 |