Metropolitan Golf Association Foundation Inc

990 • Fiscal year 2024 • EIN 13-3637689

Nov 01, 2023 to Oct 31, 2024 • Filed on Feb 24, 2025

Organization Profile WWW.MGAGOLF.ORG

49 Knollwood RoadElmsford, NY 10523

(914) 347-4653

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

$8,164,103

Up $2,129,201 (+35%) from 2023

Net Assets

$8,140,676

Up $2,174,208 (+36%) from 2023

Liabilities

Down

$23,427

Down $45,007 (-66%) from 2023

Revenue And Expenses

Revenue

$3,237,791

Up $917,535 (+40%) from 2023

Expenses

$1,832,729

Up $329,107 (+22%) from 2023

Net Income

$1,405,062

Up $588,428 (+72%) from 2023

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

Highlighted filing

2024

Assets$8,164,103

Liabilities$23,427

Net Assets$8,140,676

Open 2024 Filing

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

Highlighted filing

2024

Revenue$3,237,791

Expenses$1,832,729

Net Income$1,405,062

Open 2024 Filing

Jump To

Filing Snapshot

Filing Period: Nov 1, 2023 to Oct 31, 2024
Signed: Feb 24, 2025
Return Version: 2023v6.0
Gross Receipts: $6,046,791

Mission and Program Overview

Mission

To educate the interested public in the game of golf including the rules of golf, traditions and etiquette of the game, and techniques involved in playing the game.

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Investments in Publicly Traded Securities	$4,109,063	$4,099,356	▼ $9,707
Savings and Temporary Cash Investments	$777,968	$2,801,058	▲ $2,023,090
Land, Buildings, and Equipment, Net	$847,140	$780,112	▼ $67,028
Accounts Receivable	$266,733	$466,529	▲ $199,796
Other Notes and Loans Receivable, Net	$25,825	-	-
Prepaid Expenses and Deferred Charges	$2,272	$11,447	▲ $9,175
Cash and Non-Interest-Bearing Accounts	$5,901	$5,601	▼ $300
Total Assets	$6,034,902	$8,164,103	▲ $2,129,201
Liabilities
Accounts Payable and Accrued Expenses	$64,934	$20,427	▼ $44,507
Deferred Revenue	$3,500	$3,000	▼ $500
Total Liabilities	$68,434	$23,427	▼ $45,007
Net Assets / Fund Balance
Net Assets Without Donor Restrictions	$4,707,099	$5,603,390	▲ $896,291
Net Assets With Donor Restrictions	$1,259,369	$2,537,286	▲ $1,277,917
Total Net Assets Fund Balance	$5,966,468	$8,140,676	▲ $2,174,208
Total Liabilities and Net Assets / Fund Balance	$6,034,902	$8,164,103	▲ $2,129,201

Asset Categories

Asset	Book Value	Depreciation	Basis
Buildings	$563,037	$694,693	$1,257,730
Equipment	$124,812	$200,309	$325,121
Land	$92,263	-	$92,263

Endowment Activity

Period	Beginning	Contrib.	Gain/Loss	Other Uses	End
2023	$1,259,369	$1,202,773	▲ $125,292	$50,148	$2,537,286
2022	$730,072	$552,865	▲ $25,060	$48,628	$1,259,369
2021	$361,202	$437,645	▼ $29,560	$39,215	$730,072
2020	$292,642	$447,206	▲ $38,963	$417,609	$361,202
2019	$178,000	$138,319	▼ $1,555	$22,122	$292,642

Compensation and Service Providers

Board Members and Trustees

Name	Title
Patrick L Donnelly	Chairman
Ned P Zachar	Vice President
Andrew Stock	Director
Arjun Murti	Director
Brendan Jonland	Director
Brooke Cooper	Director
Charles Weisman	Director
Christopher Robinson	Director
Damon Wright	Director
Darin Goldstein	Director
Donald J Hendler	Director
Dr Stephen Nicholas	Director
Gene Bernstein	Director
Jon Betlow	Director
Joy Kaye	Director
Ken Bakst	Director
Lourdes Berkeley	Director
Michael J Sullivan	Director
Michael X Mcbride	Director
Nathaniel Turner	Director
Nick Desai	Director
Philip M Halpern	Director
Rene Noto	Director
Sam Bernstein	Director
Stephen Shunk	Director
Thomas Joyce	Director
Tod D Pike	Director
Tracy M Pester	Director
Trevor Randolph	Director
Valerie Reardon	Director
Brian Mahoney	Chief Executive Officer
George Zahringer Iii	Emeritus Members
James Cotter	Emeritus Members
Jeffrey Holzschuh	Emeritus Members
Rees Jones	Emeritus Members
Eric Swedenburg	General Counsel
Bryan Pendrick	Secretary
Gregg M Angelillo	Treasurer

Revenue and Support

Revenue Composition

Contributions and Grants: $2,162,787
Program Service Revenue: $499,283
Investment Income: $308,034
Other Revenue: $267,687
All Other Contributions: $2,045,387
Change in Net Assets: $1,405,062

Noncash Contribution Practices

Property subject to holding requirements: No
Reviewed unusual noncash gifts: No
Third parties used for noncash contributions: No

Noncash Contributions

Contribution Type	Contribution Count	Reported Amount	Valuation Method
Securities Publicly Traded	3	$46,038	Fair Market Value (FMV)
Total Noncash Contributions	3	$46,038	-

Audited Revenue Reconciliation

Revenue per Audited Statements: $3,237,791
Revenue Not Reported on Financial Statements: $0
Revenue Not Reported on Form 990: $871,903
Total Revenue per Audited Statements: $4,109,694
Total Revenue per Form 990: $3,237,791

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Salaries, Compensation, and Employee Benefits	$1,163,326
Other Expenses	$669,403
Total Fundraising Expense	$164,997
Grants and Similar Amounts Paid	$0
Professional Fundraising Fees	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
Other Salaries and Wages	$840,437	$140,000	$120,000	$1,100,437
Occupancy	$79,462	$9,932	$9,932	$99,326
Depreciation Depletion	$53,622	$6,703	$6,703	$67,028
Payroll Taxes	$62,889	-	-	$62,889
All Other Expenses	$56,383	-	-	$56,383
Office Expenses	$17,525	$5,684	$20,997	$44,206
Other Expenses	$36,250	$1,135	$7,365	$37,385
Fees for Services Accounting	$12,100	-	-	$12,100
Total Functional Expenses	$1,494,124	$173,608	$164,997	$1,832,729

Audited Expense Reconciliation

Line Item	Amount
Total Expenses per Audited Statements	$1,935,486
Expenses per Audited Statements	$1,832,729
Total Expenses per Form 990	$1,832,729
Expenses Not Reported on Form 990	$102,757
Expenses Not Reported on Financial Statements	$0

Fundraising, Events, and Gaming

Fundraising activities: Yes
Gaming activities: No
Professional fundraiser used: No

Fundraising and Gaming Totals

Line Item	Amount
Fundraising Gross Income	$356,569
Fundraising Direct Expenses	$102,757
Professional Fundraising Fees	$0

Fundraising Events

Event	Gross Receipts	Gross Revenue	Direct Expenses	Net Income
Day of Golf	$187,500	$105,000	$45,603	$59,397
Pro-am	$49,400	$14,500	$26,053	$-11,553
Total Events	$473,969	$356,569	$102,757	$253,812

Political and Lobbying Activity

Political campaign activity: No
Lobbying activity: No
Subject to proxy tax: No

Organization	Location	Activity	Code	Public Charity	Controlled
Metropolitan Golf Association Inc	Elmsford, NY	Association	501(c)(6)	N/a	No

Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant: No
Annual disclosure for covered persons: Yes
Audit committee: Yes
Backup withholding compliance: Yes
Business relationship with 35% controlled entity: No
Business relationship with family members: No
Business relationship with organization members: No
Material changes to governing documents: No
Compensation from other sources disclosed: No
CEO compensation reviewed: Yes
Other officer compensation reviewed: Yes
Conflict-of-interest policy: Yes
Audited financial statements prepared: No
Key decisions subject to board approval: No
Management duties delegated: No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“The foundation does not have committees with the authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is distributed to the officers and are available upon request.”

Form 990, Part VI, Section B, Line 12C

“Each board member is required to sign a conflict of interest statement manually and is reminded of the foundation's policy at least once per year at board meetings.”

Form 990, Part VI, Section B, Line 15

“15a. Compensation is reviewed directly by the chairman with collaboration by the other officers as needed. Comparable and historical data is available to the chairman and officers at all times. A summary document of all compensation is prepared by the executive director and signed by the chairman annually. 15b. Done by the executive director after consultation with and review by chairman for any key employee. Summary of all staff compensation is prepared by the executive director and signed annually by the chairman.”

Form 990, Part VI, Section C, Line 19

“The foundation's governing documents, conflict of interest policy, and financial statements are available to the public upon request at the foundation's office.”

Filing and Contact Details

Filer

Filer Name: Metropolitan Golf Association Foundation
EIN: 13-3637689
Phone: 9143474653
Address: 49 KNOLLWOOD ROAD, ELMSFORD, NY 10523

Signing Officer

Name: Patrick L Donnelly
Title: President
Phone: 9143474653
Signed: 2025-02-24
Discuss with paid preparer: Yes

Organization Details

Principal Officer: Patrick L Donnelly
Formed: 1992
Legal Domicile: Ny
Voting Board Members: 37
Independent Board Members: 37
Employees: 182
Volunteers: 50

Preparer

Firm: CONDON O'MEARA MCGINTY & DONNELLY LLP
Address: ONE BATTERY PARK PLAZA 7TH FL, NEW YORK, NY 10004
Preparer: Alexander Lazzaruolo
Phone: 2126617777

Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

“The metropolitan golf association foundation, inc. (the "foundation") is a charitable nonprofit organization incorporated under the laws of the state of new york. The purpose of which the foundation was formed are to educate the interested public in the game of golf including the rules of golf, traditions and etiquette of the game, techniques involved in playing the game, and the proper use of the united states golf association handicap system; to identify and provide educational programs to meet the needs of those who are engaged in tournament administration and club management; to foster junior level involvement in golf and competition; to establish distinguished service awards for persons who have given distinguished volunteer service to the game; to establish for the interested public a library and reference center dedicated to the game of golf; and all other activities that would be appropriate in connection with the foregoing.”

Financial Statement Notes

PART V, LINE 4:

“These net assets are subject to donor-imposed restrictions that may or will be met either by actions of the foundation and/or the passage of time. As the restrictions are satisfied, net assets with donor restrictions are reclassified to net assets without donor restrictions and are reported in the accompanying statement of activities as net assets released from restrictions.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Direct special event expenses 102,757.”

PART XII, LINE 2D - OTHER ADJUSTMENTS: