Metropolitan Equestrian Team Inc
- Assets
- $336.4k
- Revenue
- $691.7k
- Investments
- $0.0
- Employees
- 7
- Location
- New York, NY
- Founding
- 09/2011
- Data as of
- 03/2023
- EIN
- 80-0627656
Organization Overview
Metropolitan Equestrian Team Inc is located in New York, NY. The organization was established in 2011. According to its NTEE Classification (N69) the organization is classified as: Equestrian, under the broad grouping of Recreation & Sports and related organizations. As of 03/2023, Metropolitan Equestrian Team Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan Equestrian Team 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 03/2023, Metropolitan Equestrian Team Inc generated $691.7k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 36.0% each year . All expenses for the organization totaled $1.1m during the year ending 03/2023. 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
SEE ATTACHED STATEMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
INTERSCHOLASTIC EQUESTRIAN ASSOCIATION (IEA)- MEMBERS OF MET COMPETE WITH AN EMPHASIS ON COLLEGE SCHOLARSHIP AND PROFESSIONAL RIDING. THERE WAS $54,464 OF DONATED SERVICES, AND USE OF FACILITIES FOR THIS PROGRAM SERVICE. THERE WAS $93,380 OF DONATED GOODS (HORSES) FOR THIS PROGRAM.
ATHLETIC EQUESTRIAN LEAGUE (AEL)- MEMBERS ARE FOCUSED ON LEARNING HOW TO COMPETE AND THEIR LEARNING IS MORE INSTRUCTIONAL THAN COMPETITIVE. THERE WAS $40,256 OF DONATED SERVICES, AND USE OF FACILITIES FOR THIS PROGRAM SERVICE. THERE WAS $69,020 OF DONATED GOODS (HORSES) FOR THIS PROGRAM.
EQUINE OPPORTUNITY PROGRAM (EOP)- ALLOWS RIDERS AROUND THE COUNTRY TO BECOME AS CREATIVE AS THEY WANT THROUGH THE EDUCATIONAL AND EQUESTRIAN PROGRAMS PROVIDED. MEMEBRS HAVE THE ABILITY TO RIDE IN ANY DISCIPLINE AND WORK TOWARDS THEIR GOAL THERE WAS $23,680 OF DONATED SERVICES, AND USE OF FACILITIES FOR THIS PROGRAM SERVICE. THERE WAS $40,600 OF DONATED GOODS (HORSES) FOR THIS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jane Dacosta Director | Trustee | 40 | $118,648 |
Elizabeth Kee President | Officer | 4 | $0 |
Sara Check Vice President | Officer | 4 | $0 |
Sarah Mannone Marketing Consultant | Officer | 4 | $0 |
Mitchell Rubin Planning And Advisement Chair | Officer | 4 | $0 |
Carolyn Mcnally Grants Committee Chair | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $249,645 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $433,256 |
| Noncash contributions included in lines 1a–1f | $203,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $682,901 |
| Total Program Service Revenue | $8,839 |
| Investment income | $0 |
| 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 | $691,740 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,512 |
| 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. | $232,768 |
| Compensation of current officers, directors, key employees. | $58,192 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,908 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $32,904 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,543 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $566,782 |
| Advertising and promotion | $6,508 |
| Office expenses | $5,494 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,049 |
| Travel | $56,783 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,073 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $74,575 |
| Insurance | $20,304 |
| All other expenses | $0 |
| Total functional expenses | $1,064,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,186 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,669 |
| 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 | $0 |
| Net Land, buildings, and equipment | $283,559 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $336,414 |
| Accounts payable and accrued expenses | $568,422 |
| 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 | $568,422 |
| Net assets without donor restrictions | $0 |
| 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 | -$232,008 |
| Total liabilities and net assets/fund balances | $336,414 |