Hudson Valley Golf Foundation

Tax-deductible

Cornwall, NY501(c)(3)Since 2020Recreation & SportsEIN 85-3728616Revenue $13.9M in FY2024

On file with the IRShvgfoundation.org18 Ridge Rd, 12518-1607 · Cornwall, NYTax-exempt since May 2021Publicly supported charity — 170(b)(1)(A)(vi)

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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.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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 $2.8M a year · 81% 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
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
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 · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.6M
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 6 voting members
Looks good: 5 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$13.9M
×66 vs prior year
Spent
$1.4M
To programs
79%
Net assets
$14.0M
By yearFY2020–FY2024
Revenue
$13.9M
FY2024▲ ×66
Tap a bar for its year
Revenue by fiscal year
FY2020$1.9M
FY2021$1.1M
FY2022$168K
FY2023$212K
FY2024$13.9M
Expenses
$1.4M
FY2024▲ +121%
Tap a bar for its year
Expenses by fiscal year
FY2020$87K
FY2021$469K
FY2022$630K
FY2023$636K
FY2024$1.4M
Net assets
$14.0M
FY2024▲ +838%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.8M
FY2021$2.4M
FY2022$1.9M
FY2023$1.5M
FY2024$14.0M

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

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2021.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $1.1M Management & general 15% · $215K Fundraising 6% · $87K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
President (thru Jan 2024)
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Hudson Valley Golf Foundation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Offers a golf course for West Point, veterans, and charity events.

Questions for Hudson Valley Golf Foundation

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Provided by the organization

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1 program · $1.1M · in their own filed words · FY2024
01

To support wounded veterans, individuals with intellectual disabilities, and disadvantaged youth through golf; and to provide a platform for west point to showcase its golf program

$1.1Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$13.9M
Ln 12
Gifts and grantsLn 1h$13.9M
Other incomeLn 4–11$19K
Investment incomeLn 3$2K
Money outPt IX
$1.4M
Ln 25
Programscol B$1.1M
Managementcol C$215K
Fundraisingcol D$87K
Owns and owesPt X
$14.0M
net assets · Ln 32
Cash and savingsLn 1–2$378K
Total assetsLn 16$15.6M
LiabilitiesLn 26$1.6M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$13.9M
Investment incomeLn 3$2K
Other incomeLn 4–11$19K
Total revenueLn 12$13.9M
Assets in detailPt X, end of year
CashLn 1$378K
Cash and savings togetherLn 1–2$378K
Land, buildings, equipmentLn 10c$15.1M
Other assetsLn 15$119K
Total assetsLn 16$15.6M
LiabilitiesLn 26$1.6M
Net assetsLn 32$14.0M
OperationsPt I, VI
EmployeesI 55
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 FY24End FY24
Cash and savingsLn 1–2$529K$378K
Land, buildings, equipmentLn 10c$11.2M$15.1M
Total assetsLn 16$12.0M$15.6M
LiabilitiesLn 26$10.5M$1.6M
Net assetsLn 32$1.5M$14.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$256K$220K$36K
Other employee benefitsLn 9$17K$17K
Payroll taxesLn 10$24K$21K$3K
Management feesLn 11a$64K$39K$25K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$21K$21K
Professional fundraising feesLn 11e$75K$75K
Other fees for servicesLn 11g$102K$37K$65K
Advertising and promotionLn 12$24K$12K$12K
Office expensesLn 13$529$529
Information technologyLn 14$3K$2K$883$180
OccupancyLn 16$96K$72K$24K
TravelLn 17$33K$21K$12K
Depreciation, depletion and amortizationLn 22$373K$373K
Other expenses (24a–d)Ln 24$313K$289K$25K
All other expensesLn 24e$1K$1K
Total functional expensesLn 25$1.4M$1.1M$215K$87K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $13.9M$1.4M$12.5M$14.0M 990 PDF
FY2023 $212K$636K−$424K$1.5M 990 PDF
FY2022 $168K$630K−$463K$1.9M 990 PDF
FY2021 $1.1M$469K$602K$2.4M 990 PDF
FY2020 $1.9M$87K$1.8M$1.8M 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 FY2024 990 (6 parts)
Part I · Summary $13,873,066 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $209,236$13,851,528
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $2,546$2,257
I-11 Other revenuePrior year $0$19,281
I-12 Total revenuePrior year $211,782$13,873,066
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $197,178$297,186
I-16a Professional fundraising feesPrior year $25,000$75,000
I-17 Other expensesPrior year $413,666$1,034,299
I-18 Total expensesPrior year $635,844$1,406,485
I-19 Revenue less expensesPrior year −$424,062$12,466,581
Part VI · Governance 5 of 6 board members independent, 2 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $13,873,066 across 5 lines filed
VIII-1f All other contributions, gifts and grants$13,851,528
VIII-1h Total contributions, gifts and grants$13,851,528
VIII-3 Investment incomeExcluded from tax $2,257$2,257
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $19,281$19,281
VIII-12 Total revenueRelated to mission $19,281 · Unrelated business $0 · Excluded from tax $2,257$13,873,066
Part IX · Statement of functional expenses $1,406,485 across 16 lines filed
IX-7 Other salaries and wagesPrograms $220,359 · Management $36,000$256,359
IX-9 Other employee benefitsPrograms $16,817$16,817
IX-10 Payroll taxesPrograms $20,770 · Management $3,240$24,010
IX-11a Management feesPrograms $39,296 · Management $24,610$63,906
IX-11b Legal feesManagement $3,223$3,223
IX-11c Accounting feesManagement $21,079$21,079
IX-11e Professional fundraising feesFundraising $75,000$75,000
IX-11g Other fees for servicesPrograms $37,064 · Management $65,167$102,231
IX-12 Advertising and promotionPrograms $11,754 · Fundraising $11,755$23,509
IX-13 Office expensesManagement $529$529
IX-14 Information technologyPrograms $2,043 · Management $883 · Fundraising $180$3,106
IX-16 OccupancyPrograms $72,006 · Management $23,864$95,870
IX-17 TravelPrograms $20,955 · Management $11,904$32,859
IX-22 Depreciation, depletion and amortizationPrograms $373,182$373,182
IX-24 Other expenses (24a–d)Programs $288,604 · Management $24,822$313,426
IX-24e All other expensesPrograms $1,379$1,379
IX-25 Total functional expensesPrograms $1,104,229 · Management $215,321 · Fundraising $86,935$1,406,485
Part X · Balance sheet $15,564,002 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $528,608$377,738
X-4 Accounts receivableStart of year $9,138$0
X-9 Prepaid expenses and deferred charges$668
X-10c Land, buildings and equipment, netStart of year $11,204,256$15,061,714
X-14 Intangible assetsStart of year $19,628$4,907
X-15 Other assetsStart of year $205,125$118,975
X-16 Total assetsStart of year $11,966,755$15,564,002
X-17 Accounts payable and accrued expensesStart of year $862,356$136,770
X-25 Other liabilitiesStart of year $206,528$116,876
X-26 Total liabilitiesStart of year $10,479,806$1,610,472
X-27 Net assets without donor restrictionsStart of year $1,486,949$13,953,530
X-32 Total net assets or fund balancesStart of year $1,486,949$13,953,530
X-33 Total liabilities and net assetsStart of year $11,966,755$15,564,002
Part XI · Reconciliation of net assets $13,953,530 net assets at year end
XI-1 Total revenue$13,873,066
XI-2 Total expenses$1,406,485
XI-3 Revenue less expenses$12,466,581
XI-4 Net assets at start of year$1,486,949
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$13,953,530

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

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