Accessory Council Inc
- Assets
- $688.6k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 7
- Location
- New York, NY
- Founding
- 04/1997
- Data as of
- 12/2022
- EIN
- 06-1405246
Organization Overview
Accessory Council Inc is located in New York, NY. The organization was established in 1997. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Accessory Council Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Accessory Council 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 12/2022, Accessory Council Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. While expenses have increased by 1.7% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ACCESSORY COUNCIL IS TO STIMULATE CONSUMER AND RETAILER AWARENESS OF ACCESSORIES AND TO SERVE AS A FORUM FOR THE EXCHANGE OF IDEAS AND INFORMATION ABOUT THE ACCESSORIES INDUSTRY AND TO SERVE AS AN ADVOCATE FOR THE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACE AWARDS - PROGRAM ACHIEVES ITS EXEMPT PURPOSE BY BRINGING THE INDUSTRY TOGETHER TO FURTHER EDUCATE, STIMULATE AND RECOGNIZE THE ACCESSORY INDUSTRY AND THOSE WHO HAVE MADE AN IMPACT.
DESIGN EXCELLENCE AWARDS - THIS PROGRAM ACHIEVES ITS EXEMPT PURPOSE BY RECOGNIZING THE ACHIEVMENT OF STUDENTS IN THE FASHION INDUSTRY WHICH BRINGS THOSE IN ATTENDANCE TOGETHER TO FURTHER EDUCATE THE INDUSTRY AS A WHOLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Zambrelli Chairman | OfficerTrustee | 0.2 | $0 |
Karen Giberson President | OfficerTrustee | 35 | $204,200 |
Gabriel Alvarez Jacobo Treasurer | OfficerTrustee | 0.2 | $0 |
Lynette Harrison Brubaker Secretary | OfficerTrustee | 0.2 | $0 |
Mary Belle Vice-Chairman | OfficerTrustee | 0.2 | $0 |
Alessandro Mariani Board Of Directors | Trustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cipriani 42nd Street Lessee Llc Event Planning | 12/30/19 | $181,044 |
J Ben Bourgeois Productions Event Planning | 12/30/19 | $173,210 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $272,253 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $100,034 |
| 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 | $372,287 |
| Total Program Service Revenue | $1,024,663 |
| Investment income | $449 |
| 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 | $1,397,399 |
| 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. | $204,200 |
| Compensation of current officers, directors, key employees. | $204,200 |
| Compensation to disqualified persons | $265,848 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $32,702 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,335 |
| Fees for services: Accounting | $24,282 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,311 |
| Advertising and promotion | $1,187 |
| Office expenses | $1,679 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,647 |
| Travel | $18,383 |
| 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 | $2,717 |
| Insurance | $7,884 |
| All other expenses | $23,716 |
| Total functional expenses | $1,336,485 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $255,232 |
| Savings and temporary cash investments | $245,286 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $113,410 |
| 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 | $31,360 |
| Net Land, buildings, and equipment | $35,852 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,428 |
| Total assets | $688,568 |
| Accounts payable and accrued expenses | $805 |
| Grants payable | $0 |
| Deferred revenue | $18,000 |
| 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 | $150,000 |
| Total liabilities | $168,805 |
| Net assets without donor restrictions | $519,763 |
| 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 | $688,568 |