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Georgica Association

Not tax-deductible

East Hampton, NY501(c)(7)Crime & Legal EIN 11-2214851Revenue $738K in FY2024

On file with the IRS74 Montauk Hwy Unit 19, 11937-3268 · East Hampton, NYTax-exempt since Aug 1980

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Maintain association's physical facilities

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
2¢ of each $1 spent went to programs.
Run by 12 volunteers and 20 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $71K a year · 9% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
2%
of spending
Concern: 2% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 7.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10K
0.8% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$738K
+2% vs prior year
Spent
$763K
To programs
2%
Net assets
$1.3M
By yearFY2020–FY2024
Revenue
$738K
FY2024▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2020$604K
FY2021$805K
FY2022$896K
FY2023$722K
FY2024$738K
Expenses
$763K
FY2024▲ +16%
Tap a bar for its year
Expenses by fiscal year
FY2020$674K
FY2021$664K
FY2022$651K
FY2023$661K
FY2024$763K
Net assets
$1.3M
FY2024▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$834K
FY2021$976K
FY2022$1.2M
FY2023$1.3M
FY2024$1.3M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1980.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

2 cents of each dollar spent went to programs.

Program services 2% · $15K Management & general 98% · $748K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Aexa Chae
Board Member
$0Pt VII · Sec A
Robert Cochran
Board Member
$0Pt VII · Sec A
Marcia Dunn
Board Member
$0Pt VII · Sec A
Elizabeth Gormley
Board Member
$0Pt VII · Sec A
Eleanor Hoagland
Board Member
$0Pt VII · Sec A
Aaron Hsu
Board Member
$0Pt VII · Sec A
Peter Kagan
Board Member
$0Pt VII · Sec A
See Georgica Association executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Maintains association's physical facilities.

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By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$738K
Ln 12
Gifts and grantsLn 1h$726K
Investment incomeLn 3$12K
Money outPt IX
$763K
Ln 25
Programscol B$15K
Managementcol C$748K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$472K
Total assetsLn 16$1.3M
LiabilitiesLn 26$10K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$726K
Investment incomeLn 3$12K
Total revenueLn 12$738K
Assets in detailPt X, end of year
CashLn 1$323K
SavingsLn 2$149K
Cash and savings togetherLn 1–2$472K
Land, buildings, equipmentLn 10c$778K
Total assetsLn 16$1.3M
LiabilitiesLn 26$10K
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 520
VolunteersI 612
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$439K$472K
Land, buildings, equipmentLn 10c$835K$778K
Total assetsLn 16$1.3M$1.3M
LiabilitiesLn 26$9K$10K
Net assetsLn 32$1.3M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$342K$342K
Payroll taxesLn 10$38K$38K
Legal feesLn 11b$885$885
Accounting feesLn 11c$12K$12K
Office expensesLn 13$6K$6K
Depreciation, depletion and amortizationLn 22$15K$15K
InsuranceLn 23$35K$35K
Other expenses (24a–d)Ln 24$264K$264K
All other expensesLn 24e$51K$51K
Total functional expensesLn 25$763K$15K$748K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $738K$763K−$25K$1.3M 990 PDF
FY2023 $722K$661K$61K$1.3M 990 PDF
FY2022 $896K$651K$245K$1.2M 990 PDF
FY2021 $805K$664K$142K$976K 990 PDF
FY2020 $604K$674K−$70K$834K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $737,948 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $717,089$726,092
I-9 Program service revenue$0
I-10 Investment incomePrior year $5,094$11,856
I-11 Other revenue$0
I-12 Total revenuePrior year $722,183$737,948
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $370,547$379,526
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $290,219$383,861
I-18 Total expensesPrior year $660,766$763,387
I-19 Revenue less expensesPrior year $61,417−$25,439
Part VI · Governance 12 of 12 board members independent, 4 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $737,948 across 4 lines filed
VIII-1b Membership dues$726,092
VIII-1h Total contributions, gifts and grants$726,092
VIII-3 Investment incomeExcluded from tax $11,856$11,856
VIII-12 Total revenueExcluded from tax $11,856$737,948
Part IX · Statement of functional expenses $763,387 across 9 lines filed
IX-7 Other salaries and wagesManagement $341,538$341,538
IX-10 Payroll taxesManagement $37,988$37,988
IX-11b Legal feesManagement $885$885
IX-11c Accounting feesManagement $11,657$11,657
IX-13 Office expensesManagement $5,848$5,848
IX-22 Depreciation, depletion and amortizationPrograms $15,247$15,247
IX-23 InsuranceManagement $35,164$35,164
IX-24 Other expenses (24a–d)Management $263,579$263,579
IX-24e All other expensesManagement $51,481$51,481
IX-25 Total functional expensesPrograms $15,247 · Management $748,140 · Fundraising $0$763,387
Part X · Balance sheet $1,266,404 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $389,827$322,842
X-2 Savings and temporary cash investmentsStart of year $49,325$149,349
X-9 Prepaid expenses and deferred chargesStart of year $17,334$16,528
X-10c Land, buildings and equipment, netStart of year $835,200$777,685
X-16 Total assetsStart of year $1,291,686$1,266,404
X-17 Accounts payable and accrued expensesStart of year $5,489$7,818
X-25 Other liabilitiesStart of year $3,926$1,754
X-26 Total liabilitiesStart of year $9,415$9,572
X-32 Total net assets or fund balancesStart of year $1,282,271$1,256,832
X-33 Total liabilities and net assetsStart of year $1,291,686$1,266,404
Part XI · Reconciliation of net assets $1,256,832 net assets at year end
XI-1 Total revenue$737,948
XI-2 Total expenses$763,387
XI-3 Revenue less expenses−$25,439
XI-4 Net assets at start of year$1,282,271
XI-10 Net assets at end of year$1,256,832

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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