Cornell Hotel Society Inc
- Assets
- $1.1m
- Revenue
- $228.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Ithaca, NY
- Founding
- 10/1999
- Data as of
- 12/2021
- EIN
- 16-1563561
Organization Overview
Cornell Hotel Society Inc is located in Ithaca, NY. The organization was established in 1999. 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. Cornell Hotel Society 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 12/2021, Cornell Hotel Society Inc generated $228.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $120.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.3%) per year over the past 7 years. 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
EDUCATIONAL SCHOLARSHIPS AND FINANCIAL AID TO CORNELL UNIVERSITY HOTEL SCHOOL STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS AND LOANS TO CORNELL UNIVERSITY HOTEL SCHOOL STUDENTS; PROVIDE SUPPORT DIRECTLY TO THE HOTEL SCHOOL AND ALUMNI OF THE HOTEL SCHOOL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Boyle Treasurer | Officer | 1 | $0 |
Vernetta Kinchen Secretary | Officer | 1 | $0 |
Mark Woodworth President | Officer | 1 | $0 |
Rebecca Lee 2nd Vice President | Officer | 1 | $0 |
Baron Ah Moo Director | Trustee | 0 | $0 |
Rick Adie Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $127,034 |
| 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 | $127,034 |
| Total Program Service Revenue | $0 |
| Investment income | $17,856 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $83,845 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$633 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $228,238 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,750 |
| 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 | $1,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,780 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,349 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,548 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $700 |
| Insurance | $3,954 |
| All other expenses | $14,190 |
| Total functional expenses | $120,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $60,857 |
| Savings and temporary cash investments | $65,704 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,856 |
| Prepaid expenses and deferred charges | $10,879 |
| Net Land, buildings, and equipment | $1,692 |
| Investments—publicly traded securities | $937,853 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $328 |
| Total assets | $1,079,169 |
| Accounts payable and accrued expenses | $13,109 |
| Grants payable | $0 |
| Deferred revenue | $70,442 |
| 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 | $83,551 |
| Net assets without donor restrictions | $995,618 |
| 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 | $1,079,169 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United States Coast Guard Academy Alumni Association Inc New London, CT | $53,324,091 | $18,444,264 |
Penn State Alumni Association University Park, PA | $100,014,631 | $13,658,978 |
Baseball Assistance Team Inc New York, NY | $16,328,027 | $4,707,517 |
United States Merchant Marine Academy Alumni Association And Fou Kings Point, NY | $55,826,934 | $8,053,233 |
Alumni Association Of New Jersey Institute Of Technology Paramus, NJ | $0 | $306,119 |
Alumni Of The Rabbinical College Knesseth Israel Of Slabodka Kowno Brooklyn, NY | $341,064 | $3,063,744 |
The Bronx High School Of Science Alumni Foundation Inc Bronx, NY | $31,172,697 | $12,367,161 |
Bernard M Baruch College Association Inc New York, NY | $9,740,278 | $4,039,630 |
Wellesley College Alumnae Association Wellesley, MA | $21,826,732 | $2,808,656 |
Yale Alumni Publications Inc New Haven, CT | $28,715 | $87,332 |
Seoul National University Foundation Inc Fort Lee, NJ | $6,845,557 | $3,716,699 |
Syracuse Health Science Center Medical Alumni Foundation Inc Syracuse, NY | $50,640,765 | $25,764,011 |