Fit Alumni Association
- Assets
- $788.2k
- Revenue
- $110.0k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 06/1994
- Data as of
- 06/2022
- EIN
- 13-3413410
Organization Overview
Fit Alumni Association is located in New York, NY. The organization was established in 1994. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fit Alumni Association 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 06/2022, Fit Alumni Association generated $110.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $168.6k during the year ending 06/2022. While expenses have increased by 4.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FIT ALUMNI ASSOCIATION IS AN INDEPENDENT NOT-FOR-PROFIT ORGANIZATION, WHOSE ONGOING MISSION IS TO MAINTAIN RELATIONSHIPS AMONG FIT, ITS ALUMNI, FACULTY AND THE FASHION AND RELATED INDUSTRIES. FOUNDED IN 1953, THE ASSOCIATION HOSTS ANNUAL FUNDRAISING AND "FRIEND-RAISING" EVENTS, WITH THE AIM OF ENHANCING THE LIFE OF CURRENT FIT STUDENTS THROUGH SCHOLARSHIPS, CONTRIBUTION TO CAMPUS ENVIRONMENTS AND FACILITATING INDUSTRY INTERACTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS / ALUMNI RELATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Jones President | OfficerTrustee | 0.2 | $0 |
Carrie Beylus Exec. Vice Pres. | OfficerTrustee | 0.2 | $0 |
Carole D'arconte-Pfiefer 1st Vice Pres. | OfficerTrustee | 0.2 | $0 |
Ilene Liebowitz Secretary | OfficerTrustee | 0.2 | $0 |
Gloria Maccaroni Treasurer | OfficerTrustee | 0.2 | $0 |
Gina Adamo Director | Trustee | 0.2 | $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 | $75,987 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $75,987 |
| Total Program Service Revenue | $1,633 |
| Investment income | $29,702 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,642 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $109,964 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Advertising and promotion | $1,367 |
| Office expenses | $7,419 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,158 |
| 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 | $541 |
| Insurance | $2,185 |
| All other expenses | $34,087 |
| Total functional expenses | $168,586 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,128 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $500 |
| 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 | $429 |
| Investments—publicly traded securities | $785,139 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $788,196 |
| Accounts payable and accrued expenses | $11,121 |
| 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 | $11,121 |
| 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 | $777,075 |
| Total liabilities and net assets/fund balances | $788,196 |