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Mashomack Polo INC FY2022 filing

Not tax-deductible

Millbrook, NY501(c)(7)Recreation & SportsEIN 82-3775613

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As specified in the entity's certificate of incorporation, IT is organized to provide its members with boarding, training and the best Polo playing experience possible.

Mission: Form 990 Part I, line 1

Before you give

FY2022 · 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 deficit $8K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
3 mo
of spending, in cash
Looks good: 3.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $38K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$185
0.04% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
+47% vs prior year
Spent
$1.2M
Net assets
$433K
By yearFY2020–FY2024
Revenue
$1.3M
FY2022▲ +47%
Revenue by fiscal year
FY2020$734K
FY2021$915K
FY2022$1.3M
FY2023$1.5M
FY2024$963K
Expenses
$1.2M
FY2022▲ +16%
Expenses by fiscal year
FY2020$707K
FY2021$1.0M
FY2022$1.2M
FY2023$1.4M
FY2024$1.1M
Net assets
$433K
FY2022▲ +62%
Net assets by fiscal year
FY2020$366K
FY2021$268K
FY2022$433K
FY2023$487K
FY2024$300K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2019.

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

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
John Klopp
President
$0Pt VII · Sec A
Craig Callen
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Mashomack Polo INC 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 15aYes

Programs and updates

Provides members with boarding, training, and the best polo playing experience.

Provided by the organization

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1 program service, described in the organization's own filed words · FY2022.
01

Providing members with boarding, training, and the best polo playing experience possible.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
United States Polo Association INCFY2024$38K
Total grants receivedfrom 1 funder$38K
Grants paid · 1 grant · $10K · 2022–2022
Trooper Foundation State of New York INCNY · FY2022$10,000

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3M
Ln 12
Fees for servicesLn 2g$1.3M
Money outPt IX
$1.2M
Ln 25
Owns and owesPt X
$433K
net assets · Ln 32
Cash and savingsLn 1–2$313K
Total assetsLn 16$433K
LiabilitiesLn 26$185
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.3M
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$313K
Cash and savings togetherLn 1–2$313K
Land, buildings, equipmentLn 10c$68K
Other assetsLn 15$1K
Total assetsLn 16$433K
LiabilitiesLn 26$185
Net assetsLn 32$433K
OperationsPt I, VI
EmployeesI 52
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$137K$313K
Land, buildings, equipmentLn 10c$83K$68K
Total assetsLn 16$269K$433K
LiabilitiesLn 26$1K$185
Net assetsLn 32$268K$433K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$10K
Other salaries and wagesLn 7$45K
Payroll taxesLn 10$6K
Advertising and promotionLn 12$800
Office expensesLn 13$2K
OccupancyLn 16$170K
TravelLn 17$8K
Depreciation, depletion and amortizationLn 22$15K
InsuranceLn 23$58K
Other expenses (24a–d)Ln 24$551K
All other expensesLn 24e$312K
Total functional expensesLn 25$1.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $963K$1.1M−$186K$300K 990 PDF
FY2023 $1.5M$1.4M$54K$487K 990 PDF
FY2022 Viewing $1.3M$1.2M$165K$433K 990 PDF
FY2021 $915K$1.0M−$99K$268K 990 PDF
FY2020 $734K$707K$27K$366K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $1,343,878 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,343,878$1,343,878
VIII-12 Total revenueRelated to mission $1,343,878 · Unrelated business $0 · Excluded from tax $0$1,343,878
Part IX · Statement of functional expenses $1,178,700 across 11 lines filed
IX-1 Grants to domestic organizations$10,000
IX-7 Other salaries and wages$44,629
IX-10 Payroll taxes$6,062
IX-12 Advertising and promotion$800
IX-13 Office expenses$2,006
IX-16 Occupancy$170,294
IX-17 Travel$8,182
IX-22 Depreciation, depletion and amortization$15,422
IX-23 Insurance$57,899
IX-24 Other expenses (24a–d)$551,002
IX-24e All other expenses$312,404
IX-25 Total functional expenses$1,178,700
Part X · Balance sheet $433,241 assets, 10 lines filed
Asset lines not itemized here account for $40,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $137,254$312,786
X-9 Prepaid expenses and deferred chargesStart of year $7,486$11,343
X-10c Land, buildings and equipment, netStart of year $83,384$67,962
X-15 Other assetsStart of year $1,150$1,150
X-16 Total assetsStart of year $269,274$433,241
X-17 Accounts payable and accrued expensesStart of year $1,396$185
X-26 Total liabilitiesStart of year $1,396$185
X-27 Net assets without donor restrictionsStart of year $267,878$433,056
X-32 Total net assets or fund balancesStart of year $267,878$433,056
X-33 Total liabilities and net assetsStart of year $269,274$433,241
Part XI · Reconciliation of net assets $433,056 net assets at year end
XI-1 Total revenue$1,343,878
XI-2 Total expenses$1,178,700
XI-3 Revenue less expenses$165,178
XI-4 Net assets at start of year$267,878
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$433,056

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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