Metropolitan Oval Foundation Inc
- Assets
- $2.2m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 6
- Location
- Brooklyn, NY
- Founding
- 02/1999
- Data as of
- 08/2021
- EIN
- 13-4035082
Organization Overview
Metropolitan Oval Foundation Inc is located in Brooklyn, NY. The organization was established in 1999. According to its NTEE Classification (N30) the organization is classified as: Physical Fitness & Community Recreational Facilities, under the broad grouping of Recreation & Sports and related organizations. As of 08/2021, Metropolitan Oval Foundation Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan Oval Foundation 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 08/2021, Metropolitan Oval Foundation Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $1.4m during the year ending 08/2021. While expenses have increased by 13.9% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, SUPPORT, AND DEVELOP YOUTH SOCCER IN NYC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT OF YOUTH SOCCER IN NYC. INCLUDES THE TRAINING OF YOUNG PEOPLE TO COMPETE IN AMATEUR SOCCER IN LOCAL, REGIONAL, AND INTERNATIONAL COMPETITION. ALSO TO SAVE AND PRESERVE AS A SOCCER FIELD, THE METROPOLITAN OVAL LOCATED IN MASPETH, NEW YORK. AS PART OF ITS TRAINING PROGRAMS, THE FOUNDATION RENTS THE FIELD TO HIGH SCHOOLS, COLLEGES, AND VARIOUS YOUTH ORGANIZATIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles S Jacob Director | Trustee | 3 | $0 |
Valerie Jacob Secretary | Officer | 0.5 | $0 |
Christopher Welch CFO | Officer | 6 | $0 |
Jeffrey Saunders Director | Trustee | 20 | $0 |
Alex Maffeo Director | Trustee | 0.5 | $0 |
Kim Wyant 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 | $235,098 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $235,098 |
| Total Program Service Revenue | $1,257,444 |
| Investment income | $373 |
| 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 | $1,492,915 |
| 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. | $53,666 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $554,717 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $52,297 |
| 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 | $174,117 |
| Advertising and promotion | $0 |
| Office expenses | $7,870 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $85,944 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,828 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $73,299 |
| Insurance | $12,100 |
| All other expenses | $52,459 |
| Total functional expenses | $1,393,581 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $934,030 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,295 |
| 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 | $2,936 |
| Net Land, buildings, and equipment | $1,220,765 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,170 |
| Total assets | $2,176,196 |
| Accounts payable and accrued expenses | $85,004 |
| 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 | $48,500 |
| Secured mortgages and notes payable | $285,997 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $577,792 |
| Total liabilities | $997,293 |
| Net assets without donor restrictions | $1,178,903 |
| 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 | $2,176,196 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Metropolitan Oval Foundation Inc has recieved totaling $25,397.
| Awarding Organization | Amount |
|---|---|
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $25,392 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Inspirica Inc Stamford, CT | $38,438,849 | $9,454,101 |
Rewarding Environments For Adultliving Inc Elmont, NY | $6,389,376 | $6,709,006 |
Harlem Lacrosse And Leadership Corporation New York, NY | $2,915,816 | $6,267,239 |
Community Rowing Inc Brighton, MA | $16,273,081 | $6,722,803 |
Josiah Willard Hayden Recreation Center Inc Lexington, MA | $26,597,268 | $5,479,768 |
Monroe Community Sports Centre Corporation Rochester, NY | $10,874,985 | $2,546,542 |
Pilgrim Skating Arena Inc Hingham, MA | $11,883,485 | $3,566,472 |
Section Viii Of The New York State Public High Sch Athletic Assn Inc Garden City, NY | $2,112,612 | $1,625,215 |
St George Community Center I Inc Brooklyn, NY | $100,070 | $1,691,089 |
Knox Inc Hartford, CT | $1,543,474 | $1,697,399 |
Atlantic City Sports Commission Inc Atlantic City, NJ | $24,469 | $1,394,636 |
Metropolitan Oval Foundation Inc Brooklyn, NY | $2,176,196 | $1,492,915 |