Griffis Faculty Club Inc
- Assets
- $2.6m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 06/1972
- Data as of
- 06/2022
- EIN
- 23-7137817
Organization Overview
Griffis Faculty Club Inc is located in New York, NY. The organization was established in 1972. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Griffis Faculty 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 06/2022, Griffis Faculty Club Inc generated $1.7m 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 (6.0%) each year. All expenses for the organization totaled $1.8m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.5%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, CULTIVATE, ENCOURAGE, AND STIMULATE PROFESSIONAL AND CULTURAL RELATIONSHIPS.
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 |
|---|---|---|---|
Erin Anthony Treasurer | OfficerTrustee | 1 | $0 |
Allan Gibofsky MD President | OfficerTrustee | 1 | $0 |
Angela Lent Secretary | OfficerTrustee | 1 | $0 |
Scott David MD Director | Trustee | 1 | $0 |
Joseph Fins MD Director | Trustee | 1 | $0 |
Charles Inturrisi PHD Director | Trustee | 1 | $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 | $59,957 |
| Investment income | $856 |
| 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 | $1,620,172 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,693,845 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $478,483 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $135,745 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $147,544 |
| Fees for services: Accounting | $26,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $430,178 |
| Advertising and promotion | $0 |
| Office expenses | $108,365 |
| Information technology | $26,709 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $879 |
| 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 | $94,480 |
| Insurance | $11,914 |
| All other expenses | $16,581 |
| Total functional expenses | $1,774,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $1,872,585 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $437,438 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $26,765 |
| Prepaid expenses and deferred charges | $5,385 |
| Net Land, buildings, and equipment | $259,596 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,601,969 |
| Accounts payable and accrued expenses | $80,624 |
| Grants payable | $0 |
| Deferred revenue | $55,772 |
| 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 | $504,511 |
| Total liabilities | $640,907 |
| Net assets without donor restrictions | $1,898,253 |
| Net assets with donor restrictions | $62,809 |
| 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 | $2,601,969 |
Endowment Analysis
| Beg. Balance | $62,809 |
| Ending Balance | $62,809 |
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