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← COUNCIL OF FASHION DESIGNERS OF AMERICA INC

Form 990 for tax year 2022

Filed by COUNCIL OF FASHION DESIGNERS OF AMERICA INC.

Totals

Total revenue
$1,389,507
Total expenses
$2,360,088
Contributions and grants received
$697,700
Grants paid
$0
Program service revenue
$585,239
Investment income
$95,693
Other revenue
$10,875
Total assets, end of year
$1,911,408
Total liabilities, end of year
$5,234,530
Net assets or fund balances, end of year
-$3,323,122
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $617,700

  • 1f · All other contributions, gifts and grants

    $80,000

  • 2a · Program service revenue: SPONSORSHIP

    total $430,000 · related or exempt $430,000

  • 2b · Program service revenue: SUBSCRIPTIONS

    total $153,483 · related or exempt $153,483

  • 2c · Program service revenue: OTHER INCOME

    total $1,756 · related or exempt $1,756

  • 3 · Investment income

    total $16,562 · excluded $16,562

  • 5 · Royalties

    total $10,875 · excluded $10,875

  • 7a · Gross sales of assets other than inventory

    securities $391,354

  • 7b · Less cost or other basis and sales expenses

    securities $312,223

  • 7c · Gain or loss

    securities $79,131

  • 7d · Net gain or loss

    total $79,131 · related or exempt $79,131

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $526,201

  • 7 · Other salaries and wages

    total $634,316

  • 9 · Other employee benefits

    total $95,505

  • 10 · Payroll taxes

    total $73,700

  • 11b · Fees: legal

    total $41,358

  • 11c · Fees: accounting

    total $26,993

  • 11g · Fees: other

    total $326,772

  • 13 · Office expenses

    total $71,629

  • 16 · Occupancy

    total $1,396

  • 17 · Travel

    total $26,228

  • 22 · Depreciation, depletion and amortization

    total $320,081

  • 23 · Insurance

    total $19,190

  • 24a · Other expenses: EVENT OPERATIONS AND MA

    total $90,919

  • 24b · Other expenses: TELEPHONE & TELECOM

    total $42,519

  • 24c · Other expenses: GRANTS AND AWARDS

    total $30,000

  • 24d · Other expenses: BANK CHARGES

    total $14,991

  • 24e · All other expenses

    total $18,290

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $187,563 · end of year $130,657

  • 4 · Accounts receivable

    beginning of year $85,946 · end of year $135,870

  • 10a · Land, buildings and equipment: cost or other basis

    $1,251,498

  • 10b · Land, buildings and equipment: accumulated depreciation

    $653,627

  • 10c · Land, buildings and equipment, net

    beginning of year $566,414 · end of year $597,871

  • 11 · Investments: publicly traded securities

    beginning of year $1,351,047 · end of year $994,476

  • 15 · Other assets

    beginning of year $66,195 · end of year $52,534

  • 17 · Accounts payable and accrued expenses

    beginning of year $36,941 · end of year $50,864

  • 19 · Deferred revenue

    beginning of year $120,000

  • 25 · Other liabilities

    beginning of year $4,200,499 · end of year $5,183,666

  • 27 · Net assets without donor restrictions

    beginning of year -$2,100,275 · end of year -$3,323,122

Mission and programs · 2022

Mission

TO FURTHER THE POSITION OF FASHION DESIGN AS A RECOGNIZED BRANCH OF AMERICAN ART & CULTURE, TO ADVANCE ARTISTIC, ETHICAL AND PROFESSIONAL STANDARDS, AND TO PROMOTE AND IMPROVE PUBLIC UNDERSTANDING AND APPRECIATION OF THE FASHION ARTS THROUGH GROUP LEADERSHIP IN QUALITY AND TASTE.

Activities or mission (Part I)

TO FURTHER THE POSITION OF FASHION DESIGN IN AMERICA AS A RECOGNIZED BRANCH OF AMERICAN ART & CULTURE, TO ADVANCE ARTISTIC, ETHICAL AND PROFESSIONAL STANDARDS, AND TO PROMOTE AND IMPROVE PUBLIC UNDERSTANDING AND APPRECIATION OF THE FASHION ARTS THROUGH GROUP LEADERSHIP IN QUALITY AND TASTE.

  • MEMBERSHIP:DESIGNER MEMBERSHIP DUES FOR THE PURPOSE OF FURTER POSITIONING FASHION DESIGN AS A RECOGNIZED BRANCH OF AMERICAN ART AND CULTURE. AS WELL AS STRATEGIC PARTNERSHIPS WITH CORPORATE MEMBERS FOR THE PURPOSE OF CREATING MEANINGFUL BUSINESS DRIVEN BENEFITS FOR CFDA MEMBERS.

  • MARKET WEEKS:A SUBSCRIPTION AND LISTING SERVICE FOR THE PURPOSE OF SCHEDULING AND PROMOTING FASHION INDUSTRY EVENTS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • RALPH LAUREN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL KORS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • DIANE VON FURSTENBERG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • REED KRAKOFF

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • NORMA KAMALI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • TOMMY HILFIGER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • PRABAL GURUNG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • DAO-YI CHOW

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • STACEY BENDET

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MARIA CORNEJO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • CARLY CUSHNIE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • KERBEY JEAN RAYMOND TERM 2022

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • BETHANN HARDISON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • AURORA JAMES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • TOM FORD TERM 2022

    IMMEDIATE PAST CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • THOM BROWNE

    BOARD CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • TRACY REESE

    BOARD VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • STAN HERMAN

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    5

  • VERA WANG

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • STEVEN KOLB

    CEO

    Total calculated
    $524,534
    From this org
    $198,150
    From related orgs
    $301,850
    Other
    $24,534
    Hours/week
    15.9 + 24.1 related

    Schedule J breakdown matched by us

    Base
    $178,335 + $271,665 related
    Bonus
    $19,815 + $30,185 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $9,723 + $14,811 related
    Filer's total
    $207,873 + $316,661 related

  • CASANDRA DIGGS

    PRESIDENT

    Total calculated
    $474,043
    From this org
    $178,285
    From related orgs
    $271,665
    Other
    $24,093
    Hours/week
    15.9 + 24.1 related

    Schedule J breakdown matched by us

    Base
    $158,520 + $241,480 related
    Bonus
    $19,765 + $30,185 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $9,548 + $14,545 related
    Filer's total
    $187,833 + $286,210 related

  • LISA ANNE SMILOR

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $329,284
    From this org
    $120,871
    From related orgs
    $184,128
    Other
    $24,285
    Hours/week
    15.9 + 24.1 related

    Schedule J breakdown matched by us

    Base
    $108,982 + $166,017 related
    Bonus
    $11,889 + $18,111 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $9,624 + $14,661 related
    Filer's total
    $130,495 + $198,789 related

  • ASHLEY M SANDALL

    DIRECTOR STRATEGIC PARTNER

    Total calculated
    $221,755
    From this org
    $79,656
    From related orgs
    $121,344
    Other
    $20,755
    Hours/week
    15.9 + 24.1 related

    Schedule J breakdown matched by us

    Base
    $75,297 + $114,703 related
    Bonus
    $4,359 + $6,641 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,225 + $12,530 related
    Filer's total
    $87,881 + $133,874 related

  • MARC KARIMZADEH

    DIRECTOR OF COMMUNICATIONS

    Total calculated
    $200,766
    From this org
    $71,334
    From related orgs
    $108,666
    Other
    $20,766
    Hours/week
    15.9 + 24.1 related

    Schedule J breakdown matched by us

    Base
    $67,371 + $102,629 related
    Bonus
    $3,963 + $6,037 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,230 + $12,536 related
    Filer's total
    $79,564 + $121,202 related

  • SARA KOZOLWSKI

    DIRECTOR OF EDUCATION

    Total calculated
    $228,664
    From this org
    $82,233
    From related orgs
    $125,268
    Other
    $21,163
    Hours/week
    15.9 + 24.1 related

    Schedule J breakdown matched by us

    Base
    $73,316 + $111,685 related
    Bonus
    $8,917 + $13,583 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,387 + $12,776 related
    Filer's total
    $90,620 + $138,044 related

  • SACHA ELYSE BROWN

    DIRECTOR OF PROFESSIONAL DEVELOPMENT

    Total calculated
    $161,760
    From this org
    $56,670
    From related orgs
    $86,329
    Other
    $18,761
    Hours/week
    15.9 + 24.1 related

    Schedule J breakdown matched by us

    Base
    $53,500 + $81,499 related
    Bonus
    $3,170 + $4,830 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $7,435 + $11,326 related
    Filer's total
    $64,105 + $97,655 related

  • LEIGH KING

    DIRECTOR OF SPECIAL EVENTS

    Total calculated
    $148,523
    From this org
    $51,123
    From related orgs
    $77,877
    Other
    $19,523
    Hours/week
    15.9 + 24.1 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • CFDA FOUNDATION INC

    501(C)(3) · TO ENCOURAGE FASHION DESIGN AND PROMOTE PUBLIC INTEREST IN FASHION · NY

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202303199349311820

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