Civic Intelligence

Devons Fancy Amagansett Inc

EIN 37-1784834 • 501(c)2 • Amagansett, NY

990-N CoverageNTEE S47

Profile

Holding company for real estate purchased by devon yacht club, inc.

300 Abrahams Landing RoadAmagansett, NY 11930

www.devonyc.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

1.30x

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

501(c)2 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2022

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Assets

$2,065,138

No earlier filing loaded for comparison.

Liabilities

$2,685,965

No earlier filing loaded for comparison.

Net Assets

-$620,827

No earlier filing loaded for comparison.

Revenue

$0

No earlier filing loaded for comparison.

Expenses

$80,726

No earlier filing loaded for comparison.

Net Income

-$80,726

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2022: $2,065,138Liabilities 2022: $2,685,965Net Assets 2022: -$620,8272022

Highlighted filing

2022

Assets$2,065,138
Liabilities$2,685,965
Net Assets-$620,827

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100K$50K$0-$50K-$100KRevenue 2022: $0Expenses 2022: $80,726Net Income 2022: -$80,7262022

Highlighted filing

2022

Revenue$0
Expenses$80,726
Net Income-$80,726

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$2.07$2.69$0.62$0.00$0.08$0.08
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 27, 2023
Return Version
2022v5.0
Gross Receipts
$0
Mission and Program Overview

Mission

Holding company for real estate purchased by devon yacht club, inc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,105,855$2,065,138▼ $40,717
Cash and Non-Interest-Bearing Accounts-$0-
Total Assets$2,105,855$2,065,138▼ $40,717
Liabilities
Other Liabilities$2,640,249$2,685,965▲ $45,716
Accounts Payable and Accrued Expenses$5,707--
Total Liabilities$2,645,956$2,685,965▲ $40,009
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-540,101$-620,827▼ $80,726
Total Net Assets Fund Balance$-540,101$-620,827▼ $80,726
Total Liabilities and Net Assets / Fund Balance$2,105,855$2,065,138▼ $40,717

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,350,000-$1,350,000
Buildings$638,078$112,324$750,402
Leasehold Improvements$77,060$251,210$328,270
Compensation and Service Providers

Board Members and Trustees

NameTitle
David SullivanPresident
Geoffrey GrantVice President
Louise CollinsVice President
Patricia HollmannAsst. Treasurer & Secretary
Seth HendonSecretary
Patrick ColemanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-80,726
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$80,726
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$43,610-$43,610
Other Expenses-$19,279-$19,279
Occupancy-$10,337-$10,337
Insurance-$7,500-$7,500
Total Functional Expenses$0$80,726$0$80,726
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Devon Yacht Club, Inc.$2,685,965
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Regular = voting members, season = non voting, junior = non voting.

Form 990, Part VI, Section A, Line 7A

Board of governors are elected by the regular members at the annual meeting.

Form 990, Part VI, Section A, Line 7B

ANY BY-LAW CHANGE.

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

Copies are sent to them after received from the auditors.

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

Our conflict of interest policy is handed out to the board and they sign the disclosure statement.

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

Key employeess compensation is determined by the president and other members of the executive committee and signed off on by the treasurer.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements are available to the public.

Filing and Contact Details

Filer

Filer Name
Devons Fancy Amagansett Inc
EIN
37-1784834
Phone
6312676340
Address
300 ABRAHAMS LANDING ROAD, AMAGANSETT, NY 11930

Signing Officer

Name
David Sullivan
Title
President
Phone
6312676340
Signed
2023-10-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Sullivan
Formed
2001
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
CONDON O'MEARA MCGINTY & DONNELLY LLP
Address
ONE BATTERY PARK PLAZA 7TH FL, NEW YORK, NY 10004
Preparer
Alexander Lazzaruolo
Phone
2126617777
Raw XML Appendix327 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0133628255
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CONDON O'MEARA MCGINTY & DONNELLY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ONE BATTERY PARK PLAZA 7TH FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010004
ReturnHeader/PreparerPersonGrp/PhoneNum02126617777
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALEXANDER LAZZARUOLO
ReturnHeader/ReturnTs02023-10-31T21:01:16-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DAVID
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SULLIVAN
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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