Fragrance Foundation Inc
- Assets
- $4.5m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 8
- Location
- New York, NY
- Founding
- 03/1950
- Data as of
- 12/2022
- EIN
- 13-6162393
Organization Overview
Fragrance Foundation Inc is located in New York, NY. The organization was established in 1950. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. As of 12/2022, Fragrance Foundation Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fragrance Foundation 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, Fragrance Foundation Inc generated $4.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $3.8m during the year ending 12/2022. 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 INSPIRE THE WORLD TO DISCOVER THE ARTISTRY AND PASSION OF FRAGRANCE. TO OBTAIN AND DISTRIBUTE EDUCATIONAL MATERIALS RELATING TO SUCH PRODUCTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL FRAGRANCE FOUNDATION AWARDS EVENT - ACKNOWLEDGES AND HONORS THE CREATIVITY OF THE FRAGRANCE INDUSTRY.
OTHER EVENTS
CIRCLE OF CHAMPIONS - PAYS TRIBUTE TO AN INDIVIDUAL WHO HAS MADE A NOTEWORHTY IMPACT IN THE FRAGRANCE INDUSTRY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda G Levy President | Officer | 40 | $525,113 |
Bd Of Drectors-See Attached Director | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Spec Entertainment Inc Creative Agency | 12/30/22 | $835,898 |
Rose Group Park Avenue Catering | 12/30/22 | $161,411 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,146,075 |
| 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 | $1,146,075 |
| Total Program Service Revenue | $2,819,562 |
| Investment income | $20,341 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,607 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,980,371 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $110,000 |
| 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. | $544,201 |
| Compensation of current officers, directors, key employees. | $81,630 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $630,121 |
| Pension plan accruals and contributions | $100,000 |
| Other employee benefits | $28,670 |
| Payroll taxes | $93,441 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $48,592 |
| Fees for services: Accounting | $30,875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $160,261 |
| Advertising and promotion | $0 |
| Office expenses | $49,704 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $116,746 |
| Travel | $29,095 |
| 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 | $1,128 |
| Insurance | $53,440 |
| All other expenses | $48,525 |
| Total functional expenses | $3,841,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,630,216 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,199,746 |
| 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 | $90,272 |
| Net Land, buildings, and equipment | $3,884 |
| Investments—publicly traded securities | $501,003 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37,389 |
| Total assets | $4,462,510 |
| Accounts payable and accrued expenses | $170,696 |
| Grants payable | $0 |
| Deferred revenue | $1,534,000 |
| 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 | $289,907 |
| Total liabilities | $1,994,603 |
| Net assets without donor restrictions | $2,467,907 |
| 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 | $4,462,510 |
Grants Awarded
Over the last fiscal year, Fragrance Foundation Inc has awarded $110,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FASHION INSTITUTE OF TECHNOLO | | | $100,000 |
NEXT FOR AUTISM | | | $10,000 |