Griffis Faculty Club Inc
- Assets
- $2.9m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 06/1972
- Data as of
- 06/2023
- EIN
- 23-7137817
Organization Overview
Griffis Faculty Club Inc is located in New York, NY. The organization was established in 1972. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Griffis Faculty Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2023, Griffis Faculty Club Inc generated $2.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $2.2m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, CULTIVATE, ENCOURAGE, AND STIMULATE PROFESSIONAL AND CULTURAL RELATIONSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allan Gibofsky MD President | OfficerTrustee | 1 | $0 |
Angela Lent Secretary | OfficerTrustee | 1 | $0 |
Erin Anthony Treasurer | OfficerTrustee | 1 | $0 |
Joseph Markenson MD Director | Trustee | 1 | $0 |
Silvia Karasu MD Director | Trustee | 1 | $0 |
Scott David 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $61,274 |
| Investment income | $26,134 |
| 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 | $2,705,768 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,794,059 |
| 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 | $720,358 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $222,542 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $99,900 |
| Fees for services: Accounting | $20,310 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $262,599 |
| Advertising and promotion | $0 |
| Office expenses | $141,276 |
| Information technology | $29,724 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,404 |
| 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 | $51,004 |
| Insurance | $46,793 |
| All other expenses | $0 |
| Total functional expenses | $2,231,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $2,238,746 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $425,022 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $27,528 |
| Prepaid expenses and deferred charges | $12,335 |
| Net Land, buildings, and equipment | $208,592 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,912,423 |
| Accounts payable and accrued expenses | $70,141 |
| Grants payable | $0 |
| Deferred revenue | $57,770 |
| 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 | $260,776 |
| Total liabilities | $388,687 |
| Net assets without donor restrictions | $2,460,927 |
| Net assets with donor restrictions | $62,809 |
| 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 | $2,912,423 |