Civic Intelligence

The Catskill Mountain Foundation Inc

990 • Fiscal year 2019 • EIN 13-3992139

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 05, 2020

PO Box 924Hunter, NY 12442

(518) 263-2000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.42x

Higher debt load relative to assets than 91% of similar nonprofits.

2019 filings • NTEE A • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

96th percentile

2.63x

Higher debt load relative to revenue than 96% of similar nonprofits.

2019 filings • NTEE A • $10M-$25M nonprofits • Source year 2019

Net Margin

17th percentile

-23%

Higher net margin than 17% of similar nonprofits.

2019 filings • NTEE A • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • NTEE A • $10M-$25M nonprofits • Source year 2019

Asset Growth

7th percentile

-6.8%

Faster asset growth than 7% of similar nonprofits.

2019 filings • NTEE A • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

31st percentile

-7.9%

Faster revenue growth than 31% of similar nonprofits.

2019 filings • NTEE A • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Down

$12,132,686

Down $881,746 (-6.8%) from 2018

Net Assets

Down

$7,058,674

Down $451,412 (-6.0%) from 2018

Liabilities

Down

$5,074,012

Down $430,334 (-7.8%) from 2018

Revenue

Down

$1,928,769

Down $165,404 (-7.9%) from 2018

Expenses

Down

$2,380,168

Down $118,436 (-4.7%) from 2018

Net Income

Down

-$451,399

Down $46,968 (-12%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $13,690,634Liabilities 2010: $7,760,915Net Assets 2010: $5,929,7192010Assets 2011: $14,299,730Liabilities 2011: $7,733,123Net Assets 2011: $6,566,6072011Assets 2012: $14,267,580Liabilities 2012: $7,160,501Net Assets 2012: $7,107,0792012Assets 2013: $14,380,188Liabilities 2013: $7,028,950Net Assets 2013: $7,351,2382013Assets 2014: $14,375,827Liabilities 2014: $6,851,534Net Assets 2014: $7,524,2932014Assets 2015: $14,329,614Liabilities 2015: $6,604,489Net Assets 2015: $7,725,1252015Assets 2016: $13,989,194Liabilities 2016: $6,217,613Net Assets 2016: $7,771,5812016Assets 2017: $13,730,758Liabilities 2017: $5,818,400Net Assets 2017: $7,912,3582017Assets 2018: $13,014,432Liabilities 2018: $5,504,346Net Assets 2018: $7,510,0862018Assets 2019: $12,132,686Liabilities 2019: $5,074,012Net Assets 2019: $7,058,6742019Assets 2020: $11,541,035Liabilities 2020: $4,169,285Net Assets 2020: $7,371,7502020Assets 2021: $10,564,799Liabilities 2021: $3,111,168Net Assets 2021: $7,453,6312021Assets 2022: $10,185,876Liabilities 2022: $2,947,302Net Assets 2022: $7,238,5742022Assets 2023: $10,030,837Liabilities 2023: $3,384,356Net Assets 2023: $6,646,4812023Assets 2024: $11,664,162Liabilities 2024: $5,302,974Net Assets 2024: $6,361,1882024

Highlighted filing

2019

Assets$12,132,686
Liabilities$5,074,012
Net Assets$7,058,674

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2010: $2,423,399Expenses 2010: $2,606,152Net Income 2010: -$182,7532010Expenses 2011: $2,615,5802011Expenses 2012: $2,596,9132012Revenue 2013: $2,823,634Expenses 2013: $2,604,845Net Income 2013: $218,7892013Revenue 2014: $2,837,436Expenses 2014: $2,661,043Net Income 2014: $176,3932014Revenue 2015: $2,889,731Expenses 2015: $2,680,258Net Income 2015: $209,4732015Revenue 2016: $2,648,468Expenses 2016: $2,610,470Net Income 2016: $37,9982016Revenue 2017: $2,693,471Expenses 2017: $2,553,108Net Income 2017: $140,3632017Revenue 2018: $2,094,173Expenses 2018: $2,498,604Net Income 2018: -$404,4312018Revenue 2019: $1,928,769Expenses 2019: $2,380,168Net Income 2019: -$451,3992019Revenue 2020: $2,120,072Expenses 2020: $1,806,996Net Income 2020: $313,0762020Revenue 2021: $2,283,674Expenses 2021: $2,201,793Net Income 2021: $81,8812021Revenue 2022: $2,100,225Expenses 2022: $2,315,282Net Income 2022: -$215,0572022Revenue 2023: $2,782,284Expenses 2023: $3,374,377Net Income 2023: -$592,0932023Revenue 2024: $2,997,622Expenses 2024: $3,282,152Net Income 2024: -$284,5302024

Highlighted filing

2019

Revenue$1,928,769
Expenses$2,380,168
Net Income-$451,399
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 5, 2020
Return Version
2019v5.1
Gross Receipts
$1,954,286
Mission and Program Overview

Mission

The mission of the catskill mountain foundation is to transform the greene county mountaintop into an internationally recognized arts destination, with initiatives including developing new art performance venues and organizing art programs in music, theatre and dance.

To transform the greene county mountaintop into an internationally recognized arts destination

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,664,461$10,273,395▼ $391,066
Pledges and Grants Receivable$1,801,246$1,264,585▼ $536,661
Loans From Officers Directors$1,271,567$1,038,862▼ $232,705
Cash and Non-Interest-Bearing Accounts$82,631$130,202▲ $47,571
Inventories for Sale or Use$38,055$68,238▲ $30,183
Accounts Receivable$65,593$52,564▼ $13,029
Savings and Temporary Cash Investments$35,908$32,090▼ $3,818
Prepaid Expenses and Deferred Charges$23,250$8,544▼ $14,706
Investments in Publicly Traded Securities$220$0▼ $220
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Total Assets$13,014,432$12,132,686▼ $881,746
Other Assets Total$303,068$303,068→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,064,019$3,897,318▼ $166,701
Accounts Payable and Accrued Expenses$135,812$97,950▼ $37,862
Deferred Revenue$27,921$31,000▲ $3,079
Other Liabilities$5,027$8,882▲ $3,855
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$5,504,346$5,074,012▼ $430,334
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,710,891$5,430,694▼ $280,197
Net Assets With Donor Restrictions$1,799,195$1,627,980▼ $171,215
Total Net Assets Fund Balance$7,510,086$7,058,674▼ $451,412
Total Liabilities and Net Assets / Fund Balance$13,014,432$12,132,686▼ $881,746

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,433,771$4,655,392$14,089,163
Equipment$290,629$950,884$1,241,513
Land$533,199-$533,199
Other Land Buildings$15,796$71,049$86,845
Compensation and Service Providers

Board Members and Trustees

NameTitle
Peter FinnChairman
Sarah FinnPresident
Jeffrey LangfordVice President
Joanne PolkVice President
Alice CunninghamDirector
Jeffrey B FerrisDirector
Phyllis ParrishDirector
David KashmanDirector as Needed
Myra GarciaDirector as Needed
Sarah SlutzkyDirector as Needed
JAQUES D'AMBOISEDirector Ex Officio
Candy MckeeSecretary/director of Admin.
Norman a RossTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
B---
New York Press Graphics INCPrinting & GraphicsPO BOX 5443, Albany, NY 12205-
Revenue and Support

Revenue Composition

Contributions and Grants
$887,760
Program Service Revenue
$580,461
Investment Income
$-2,942
Other Revenue
$463,490
All Other Contributions
$842,760
Change in Net Assets
$-451,399

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,928,769
Revenue Not Reported on Form 990
$35,272
Total Revenue per Audited Statements
$1,964,041
Total Revenue per Form 990
$1,928,769
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,615,093
Salaries, Compensation, and Employee Benefits$765,075
Total Fundraising Expense$61,321
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$326,787$301,671$25,337$653,795
Depreciation Depletion$374,163$37,809$12,348$424,320
Fees for Services Other$252,782$51,114-$303,896
Interest$116,104$29,812$2,975$148,891
All Other Expenses$65,085$41,141$5,283$111,509
Occupancy$70,069$17,205$2,558$89,832
Travel$65,228$11,262$4,010$80,500
Insurance$60,423$15,546$1,465$77,434
Other Employee Benefits$49,626$9,803$1,838$61,267
Payroll Taxes$24,998$23,077$1,938$50,013
Other Expenses$31,915$12,048$1,084$31,915
Advertising-$12,652-$12,652
Office Expenses$5,637$1,648$571$7,856
Conferences and Meetings-$336-$336
Total Functional Expenses$1,505,113$813,734$61,321$2,380,168

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,415,453
Expenses per Audited Statements$2,380,168
Total Expenses per Form 990$2,380,168
Expenses Not Reported on Form 990$35,285
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$47,558
Fundraising Direct Expenses$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Finn PartnersPeter Finn Owner of Finn Partners and President & Chairman of CmfPrinting, Rent, Utilities--
Sarah Peter FinnPresident & Chairman of Catskill Mnountain Foundation (cmf)In-kind Rental Property--

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$1,271,567$1,038,862▼ $232,705
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$8,882
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
Yes
Business relationship with organization members
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6 -7 - Members and Governing

Members elect the governing body. All decisions made by the governing body must meet a quorum from the members.

Form 990, Part VI, Section B, Line 11 - Tax Return

The audit committee reviews the tax return before it is submitted to the irs and nys.

Form 990, Part VI, Section B, Line 12 - Conflict of Interest

The organization has a conflict of interest policy and if there is a possible conflict of interest the governing body follows the procedures set forth in the policy to determine whether or not an actual conflict of interest exists and the procedures for addressing any conflict of interest. The governing body takes disciplinary and corrective action if a person who is covered under the policy fails to disclose such an interest. Those covered under the policy must disclose annually any conflict of interest with all third parties doing business with the organization.

Form 990, Part VI, Section B, Line 15 - Compensation

The organization reviews the compensation and transactions with officers, directors, trustees and key employees and pays no more than the fair market value for their services and utilizes comparable data of other similiar organizations.

Form 990, Part VI, Section B, Line 13 - Whistleblower Policy

The organization's whistleblower policy was adopted in may 2011. The policy provides a format that allows individual board members and employees to report any wrongdoings without retaliation from the board.

Form 990, Part VI, Section B, Line 14 - Document Retention and Destruction

The organization's retention and destruction policy was adopted in may 2011. The policy provides a schedule for management to follow regarding how long documents need to be held before they are destroyed.

Form 990, Part VI, Section C, Line 18 - Public Availability

The organization makes its tax return, governing documents and policies available to the public upon written request. The organization's tax return is also available on the nys attorney generals charities bureau web-site.

Filing and Contact Details

Filer

Filer Name
The Catskill Mountain Foundation Inc
EIN
13-3992139
In Care Of
% CANDY MCKEE DIRECTOR OF ADMI
Phone
5182632000
Address
PO BOX 924, HUNTER, NY 12442

Signing Officer

Name
Candy Mckee
Title
Director of Admin.
Phone
5182632001
Signed
2020-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sarah Finn
Formed
1998
Legal Domicile
Ny
Voting Board Members
11
Independent Board Members
11
Employees
44
Volunteers
12

Preparer

Firm
Uhy Advisors Ny Inc
Address
45 FIVE MILE WOODS RD STE 1, CATSKILL, NY 12414
Preparer
Bradley Cummings
Phone
5189434502
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C - Audit Committee

The audit committee oversees the audit, communicates with the auditors, and reviews and approves the financial statements before being released.

Form 990, Part X, Lines 14 & 23 Balance Sheet

The organization implemented the accounting standards update 2015-03 "simplifying the presentation of debt issuance costs" in which the organization nets deferred loan costs against debt; therefore the deferred loan costs are no longer reported on line 14 under assets, but rather they are netted against liabilites on line 23.

Form 990, Part IV, Section A, Line 2, Family or Bus. Relationship

The following board members have a family relationship: peter and sarah finn jeffrey langford and joanne polk

Form 990 Part IX Line 11G

Description:accountant total fees:16000

Form 990 Part IX Line 11G

Description:consultants total fees:35114

Form 990 Part IX Line 11G

Description:artist fees total fees:252782

Financial Statement Notes

Schedule D Part III - Collections of Art

The organization maintains donated art and antiques that are kept on display for the public to view as part of their mission to have greene county mountaintop recognized as an international arts destination.

Schedule D Part XI Line 4B - Reconciliation of Revenue

The adjustment "other" for ($31,915) consists of the following adjustments: cogs ($31,915) is treated as an expense in the tax return and treated as cogs in the financial statements as an adjustment to revenue.

Schedule D Part XII Line 4B - Reconciliation of Expenses

The adjustment "other" for ($31,915) consists of the following adjustments: cogs ($31,915) is treated as an expense in the tax return and treated as cogs in the financial statements as an adjustment to revenue.

Schedule D, Part X, Line 2, Liabilities for Uncertain Tax Positions

A provision for income taxes has not been included in the accompanying financial statements as the foundation is a not-for-profit organization exempt from federal income taxes under section 501(c)(3) of the internal revenue code (irc). However, income from certain activities not directly related to the foundation's tax exempt purpose is subject to taxation as unrelated businesss income. The activities resulted in no unrelated business taxes for the year ended december 31, 2019. Therefore, the foundation has made no provisions for federal income taxes in the accompanying financial statements. The foundation is incorporated pursuant to the not-for-profit corporation law of the sate of new york. The foundation is also registered with the new york state deparment of law, charities bureau. The foundation has evaluated any uncertain tax positions and related income tax contingencies and determined uncertian positions, if any, are not material to the financial statements, according to fasb asc 740-10. Penalties and interest assessed by income taxing authorities are included in operating expenses, if incurred. The foundation is no longer subject to examination by federal and state taxing authorities for the years prior to the year ended december 31, 2016.

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IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR AS NEEDED
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IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR AS NEEDED
IRS990/Form990PartVIISectionAGrp/TitleTxt12SECRETARY/DIRECTOR OF ADMIN.
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IRS990/MissionDesc0THE MISSION OF THE CATSKILL MOUNTAIN FOUNDATION IS TO TRANSFORM THE GREENE COUNTY MOUNTAINTOP INTO AN INTERNATIONALLY RECOGNIZED ARTS DESTINATION, WITH INITIATIVES INCLUDING DEVELOPING NEW ART PERFORMANCE VENUES AND ORGANIZING ART PROGRAMS IN MUSIC, THEATRE AND DANCE.
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IRS990/PrincipalOfficerNm0SARAH FINN
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IRS990/ProgramServiceRevenueGrp/BusinessCd0541800
IRS990/ProgramServiceRevenueGrp/Desc0PUBLICATION ADVERTISING
IRS990/ProgramServiceRevenueGrp/Desc1THEATRE TICKET SALES
IRS990/ProgramServiceRevenueGrp/Desc2ART AND EDUCATIONAL CLASSES
IRS990/ProgramServiceRevenueGrp/Desc3PERFORMING ARTS
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE EDUCATION PROGRAM HOSTS SEVERAL EDUCATIONAL RESIDENCY PROGRAMS FOR YOUNG ARTISTS, EACH ONE FEATURING WORLD CLASS FACULTY. ACTIVITIES INCLUDE MANHATTAN IN THE MOUNTAINS, ORPHEUM DANCE PROJECT AND ACADEMY OF FORTEPIANO. THE SUBSEQUENT INTEGRATION OF PERFORMING ARTS PROGRAMING BY THE FOUNDATION HAS INCREASED ACADEMIC SUCCESS, FOSTERED LIFE-LONG LEARNING SKILLS, IMPROVED SOCIAL AND INTERPERSONAL INTERACTIONS AND DEVELOPED SKILLS AND POSITIVE ATTITUDES TOWARDS THE ARTS.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0120827
IRS990/ProgSrvcAccomActy3Grp/Desc0THE FOUNDATION PUBLISHES THE CATSKILL MOUNTAIN REGION GUIDE MAGAZINE, WITH A MONTHLY READERSHIP OF 15,000. THIS IS A FREE, FULL-COLOR TRAVEL AND TOURISM PUBLICATION AND IS DISTRIBUTED THROUGHOUT THE CATSKILL REGION. CATSKILL MOUNTAIN PRINTING SERVICES PROVIDES PRINTING FOR CUSTOMERS AND OFFERS GRAPHIC DESIGN SERVICES.
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IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0277191

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.7$5.30$6.36$3.00$3.28$0.28
2023Detailed filing. Detailed filing data is available for this year.$10.0$3.38$6.65$2.78$3.37$0.59
2022Detailed filing. Detailed filing data is available for this year.$10.2$2.95$7.24$2.10$2.32$0.22
2021Detailed filing. Detailed filing data is available for this year.$10.6$3.11$7.45$2.28$2.20$0.08
2020Detailed filing. Detailed filing data is available for this year.$11.5$4.17$7.37$2.12$1.81$0.31
2019Detailed filing. Detailed filing data is available for this year.$12.1$5.07$7.06$1.93$2.38$0.45
2018Detailed filing. Detailed filing data is available for this year.$13.0$5.50$7.51$2.09$2.50$0.40
2017Detailed filing. Detailed filing data is available for this year.$13.7$5.82$7.91$2.69$2.55$0.14
2016Detailed filing. Detailed filing data is available for this year.$14.0$6.22$7.77$2.65$2.61$0.04
2015Detailed filing. Detailed filing data is available for this year.$14.3$6.60$7.73$2.89$2.68$0.21
2014Detailed filing. Detailed filing data is available for this year.$14.4$6.85$7.52$2.84$2.66$0.18
2013Detailed filing. Detailed filing data is available for this year.$14.4$7.03$7.35$2.82$2.60$0.22
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.3$7.16$7.11$2.60
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.3$7.73$6.57$2.62
2010Summary only. Only limited summary data is available for this year.$13.7$7.76$5.93$2.42$2.61$0.18