Civic Intelligence

Hudson Valley Golf Foundation

990 • Fiscal year 2020 • EIN 85-3728616

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 05, 2021

18 Ridge RoadCornwall, NY 12518

(806) 220-8343

Siviq Scores

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

Liabilities / Assets

35th percentile

0.04x

Higher debt load relative to assets than 35% of similar nonprofits.

2020 filings • NTEE N • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

27th percentile

0.04x

Higher debt load relative to revenue than 27% of similar nonprofits.

2020 filings • NTEE N • $1M-$5M nonprofits • Source year 2020

Net Margin

98th percentile

95%

Higher net margin than 98% of similar nonprofits.

2020 filings • NTEE N • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2020 filings • NTEE N • $1M-$5M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

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

Source year 2020

Revenue Growth

Score unavailable

No value available

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

Source year 2020

Assets

$1,843,230

No earlier filing loaded for comparison.

Net Assets

$1,771,537

No earlier filing loaded for comparison.

Liabilities

$71,693

No earlier filing loaded for comparison.

Revenue

$1,858,336

No earlier filing loaded for comparison.

Expenses

$86,799

No earlier filing loaded for comparison.

Net Income

$1,771,537

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2020: $1,843,230Liabilities 2020: $71,693Net Assets 2020: $1,771,5372020Assets 2021: $8,649,519Liabilities 2021: $6,275,649Net Assets 2021: $2,373,8702021Assets 2022: $12,514,226Liabilities 2022: $10,603,215Net Assets 2022: $1,911,0112022Assets 2023: $11,966,755Liabilities 2023: $10,479,806Net Assets 2023: $1,486,9492023Assets 2024: $15,564,002Liabilities 2024: $1,610,472Net Assets 2024: $13,953,5302024

Highlighted filing

2020

Assets$1,843,230
Liabilities$71,693
Net Assets$1,771,537

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2020: $1,858,336Expenses 2020: $86,799Net Income 2020: $1,771,5372020Revenue 2021: $1,071,096Expenses 2021: $468,763Net Income 2021: $602,3332021Revenue 2022: $167,615Expenses 2022: $630,474Net Income 2022: -$462,8592022Revenue 2023: $211,782Expenses 2023: $635,844Net Income 2023: -$424,0622023Revenue 2024: $13,873,066Expenses 2024: $1,406,485Net Income 2024: $12,466,5812024

Highlighted filing

2020

Revenue$1,858,336
Expenses$86,799
Net Income$1,771,537
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 5, 2021
Return Version
2020v4.1
Gross Receipts
$1,858,336
Mission and Program Overview

Mission

Provide a golf course for the west point military academy golf team, us military veterans, and also be able to hold events for charities and other occasions.

Provide a golf course for the west point military academy golf team, us military veterans, and also be able to hold events for chartities and other occasions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$0$1,771,537▲ $1,771,537
Land, Buildings, and Equipment, Net$0$1,610,877▲ $1,610,877
Cash and Non-Interest-Bearing Accounts-$229,703-
Loans From Officers Directors-$37,308-
Prepaid Expenses and Deferred Charges-$2,650-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$0$1,843,230▲ $1,843,230
Liabilities
Accounts Payable and Accrued Expenses-$34,385-
Total Liabilities$0$71,693▲ $71,693
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$1,771,537▲ $1,771,537
Total Liabilities and Net Assets / Fund Balance$0$1,843,230▲ $1,843,230

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$770,000--
Other Land Buildings$102,677--
Land$610,000--
Equipment$128,200--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ray Owen IiiPresident
Chad BagleySecretary
Chris GrayVP/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,858,335
Program Service Revenue
$0
Investment Income
$1
Other Revenue
$0
All Other Contributions
$1,858,335
Change in Net Assets
$1,771,537

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,858,336
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,858,336
Total Revenue per Form 990
$1,858,336
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$76,289
Salaries, Compensation, and Employee Benefits$10,510
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal-$30,183-$30,183
Advertising-$16,725-$16,725
Other Salaries and Wages-$9,331-$9,331
Insurance-$5,862-$5,862
Payroll Taxes-$1,068-$1,068
Information Technology-$1,000-$1,000
Other Expenses-$635-$635
Other Employee Benefits-$111-$111
Fees for Services Other-$94-$94
Office Expenses-$76-$76
Total Functional Expenses$0$86,799$0$86,799

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$86,799
Total Expenses per Audited Statements$86,799
Total Expenses per Form 990$86,799
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Grayworks LLCMember of Board of DirectorsGRAYWORKS LLC, ENTITY OWNED BY CHRIS GRAY (VP/TREASURER) IS CONTRACTED TO CONSTRUCT GOLF COURSE FOR ORGANIZATION'S PURPOSE.No$74,177

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$37,308-
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
Yes
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
No
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 B, Line 11B

A copy to the 990 is provided to all board members for their review prior to filing.

Form 990, Part VI, Section B, Line 12

Policy in place to supplement but not replace any applicable state and federal laws governing conflict of interest applicable to nonprofit and charitable organizations. A financial interest is not necessarily a conflict of interest. A person of financial interest may only have a conflict of interest only if the appropriate governing board or committee decides that a conflict of interest exists. There is a duty to disclose any actual or possible material conflict of interests to the applicable board or committee delegated powers considering the proposed transaction or arrangement. After all material facts are discussed with applicable board or committee and the person of financial interest, the person of financial interest is asked to leave the room while the board or committee discusses and votes upon a decision. All minutes of governing board meeting with board delegated powers shall contain the nature of the financial interest discussed, possible conflicts, any action taken to determine the conflict and who was present in making the decision and any alternative solutions discussed throughout proceedings. A voting member who receives compensation directly or indirectly for services is precluded from voting on matters pertaining to that persons compensation.

Form 990, Part VI, Section B, Line 15

To provide a mechanism for employees to raise good faith concerns regarding violation of the law on the part of the organization. The process would begin with an employee going to the the president, any further reports or suspected violations of the law or policy will be investigated promptly and in a manner confidentially, consistent with a full and fair investigation. The president will conduct or designate other internal or external parties to conduct the investigations. The findings by the designated investigated parties will be presented in a summary in front of the board of directors.

Form 990, Part VI, Section C, Line 19

All documents are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Hudson Valley Golf Foundation
EIN
85-3728616
Phone
8062208343
Address
18 RIDGE ROAD, CORNWALL, NY 12518

Signing Officer

Name
Ray Owen Iii
Title
President
Phone
8062208343
Signed
2021-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ray Owen Iii
Formed
2020
Legal Domicile
De
Voting Board Members
3
Independent Board Members
2
Employees
4
Volunteers
0

Preparer

Firm
Teal Becker & Chiaramonte Cpas Pc
Address
7 WASHINGTON SQUARE, ALBANY, NY 12205
Preparer
Katharine K Doran CPA
Phone
5184566663
Supplemental Narrative

Additional Explanations

Form 990 Part XII, Line 2C

The board consists of three independent members who oversee the audit and selection of an independent accountant.

Financial Statement Notes

PART X, LINE 2:

The organization follows the guidance for uncertainty in income taxes. As of december 31, 2020, the organization believes that it has appropriate support for income tax positions taken and to be taken on its returns based on an assessment of many factors including experience and interpretations of tax laws applied to the factors of each matter. The organization has concluded that there are no significant uncertain tax positions requiring disclosure, and there are no material amounts of unrecognized tax benefits.

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY TO THE 990 IS PROVIDED TO ALL BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1POLICY IN PLACE TO SUPPLEMENT BUT NOT REPLACE ANY APPLICABLE STATE AND FEDERAL LAWS GOVERNING CONFLICT OF INTEREST APPLICABLE TO NONPROFIT AND CHARITABLE ORGANIZATIONS. A FINANCIAL INTEREST IS NOT NECESSARILY A CONFLICT OF INTEREST. A PERSON OF FINANCIAL INTEREST MAY ONLY HAVE A CONFLICT OF INTEREST ONLY IF THE APPROPRIATE GOVERNING BOARD OR COMMITTEE DECIDES THAT A CONFLICT OF INTEREST EXISTS. THERE IS A DUTY TO DISCLOSE ANY ACTUAL OR POSSIBLE MATERIAL CONFLICT OF INTERESTS TO THE APPLICABLE BOARD OR COMMITTEE DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER ALL MATERIAL FACTS ARE DISCUSSED WITH APPLICABLE BOARD OR COMMITTEE AND THE PERSON OF FINANCIAL INTEREST, THE PERSON OF FINANCIAL INTEREST IS ASKED TO LEAVE THE ROOM WHILE THE BOARD OR COMMITTEE DISCUSSES AND VOTES UPON A DECISION. ALL MINUTES OF GOVERNING BOARD MEETING WITH BOARD DELEGATED POWERS SHALL CONTAIN THE NATURE OF THE FINANCIAL INTEREST DISCUSSED, POSSIBLE CONFLICTS, ANY ACTION TAKEN TO DETERMINE THE CONFLICT AND WHO WAS PRESENT IN MAKING THE DECISION AND ANY ALTERNATIVE SOLUTIONS DISCUSSED THROUGHOUT PROCEEDINGS. A VOTING MEMBER WHO RECEIVES COMPENSATION DIRECTLY OR INDIRECTLY FOR SERVICES IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO THAT PERSONS COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TO PROVIDE A MECHANISM FOR EMPLOYEES TO RAISE GOOD FAITH CONCERNS REGARDING VIOLATION OF THE LAW ON THE PART OF THE ORGANIZATION. THE PROCESS WOULD BEGIN WITH AN EMPLOYEE GOING TO THE THE PRESIDENT, ANY FURTHER REPORTS OR SUSPECTED VIOLATIONS OF THE LAW OR POLICY WILL BE INVESTIGATED PROMPTLY AND IN A MANNER CONFIDENTIALLY, CONSISTENT WITH A FULL AND FAIR INVESTIGATION. THE PRESIDENT WILL CONDUCT OR DESIGNATE OTHER INTERNAL OR EXTERNAL PARTIES TO CONDUCT THE INVESTIGATIONS. THE FINDINGS BY THE DESIGNATED INVESTIGATED PARTIES WILL BE PRESENTED IN A SUMMARY IN FRONT OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD CONSISTS OF THREE INDEPENDENT MEMBERS WHO OVERSEE THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990 PART XII, LINE 2C
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RAY OWEN III
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08062208343
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HUDSON VALLEY GOLF FOUNDATION
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0141624930
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TEAL BECKER & CHIARAMONTE CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07 WASHINGTON SQUARE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ALBANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd012205
ReturnHeader/PreparerPersonGrp/PhoneNum05184566663
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KATHARINE K DORAN CPA
ReturnHeader/ReturnTs02021-11-09T11:05:25-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RAY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0OWEN III
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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