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Nonprofiteer
← GRAYBEARDS LTD

Form 990 for tax year 2023

Filed by GRAYBEARDS LTD.

Totals

Total revenue
$629,217
Total expenses
$695,227
Contributions and grants received
$378,872
Grants paid
$544,000
Program service revenue
$0
Investment income
$6
Other revenue
$250,339
Total assets, end of year
$452,315
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$452,315
Program services expenses (Part IX)
$564,083
Management and general expenses
$32,684
Fundraising expenses
$98,460
Program service expenses (Part III)
$564,083

Program services were 81.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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

    $35,950

  • 1c · Fundraising events

    $64,815

  • 1f · All other contributions, gifts and grants

    $278,107

  • 3 · Investment income

    total $6 · excluded $6

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $64,815

  • 8b · Fundraising events: direct expenses

    $49,661

  • 8c · Net income from fundraising events

    total -$49,661 · excluded -$49,661

  • 9a · Gaming: gross income

    $600,000

  • 9b · Gaming: direct expenses

    $300,000

  • 9c · Net income from gaming

    total $300,000 · excluded $300,000

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $544,000 · program services $544,000

  • 12 · Advertising and promotion

    total $6,870 · program services $6,870

  • 13 · Office expenses

    total $32,170 · management and general $32,170

  • 14 · Information technology

    total $386 · management and general $386

  • 16 · Occupancy

    total $13,213 · program services $13,213

  • 23 · Insurance

    total $128 · management and general $128

  • 24a · Other expenses: BACKUP WITHHOLDING TAX

    total $98,460 · fundraising $98,460

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $276,684 · end of year $298,584

  • 2 · Savings and temporary cash investments

    beginning of year $223,251 · end of year $153,531

  • 8 · Inventories for sale or use

    beginning of year $200 · end of year $200

  • 11 · Investments: publicly traded securities

    beginning of year $21,881

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,691 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $518,325 · end of year $452,315

Mission and programs · 2023

Mission

IN THE AFTERMATH OF THE WORST ACT OF TERRIORISM COMMITTED AGAINST THE UNITED STATES OF AMERICA, SEPTEMBER 11, 2001 AND THE DEVASTATING CRASH OF AMERICAN AIRLINES FLIGHT #587, A GROUP OF MEN FROM ROCKAWAY BEACH RECOGNIZED THE POSITIVE IMPACT THEY COULD OFFER THE COMMUNITY AS A DIVERSIFIED GROUP. IN THAT SPIRIT, GRAYBEARDS HAS BEEN DEDICATED TO ENHANCE THE LIVES OF OTHERS, PROMOTE FRIENDSHIP AND FELLOWSHIP AMONG ITS MEMBERS, HOLD MEETINGS AND HAVE SOCIAL GATHERINGS TO PROMOTE AN INTEREST IN THE COMMUNITY, HELP THOSE IN THE COMMUNITY IN THEIR TIME OF NEED, TO PROMOTE THE DEVELOPMENT/EDUCATION OF THE YOUTH OF THE COMMUNITY AND PROMOTE A DEEPER APPRECIATION OF PATRIOTISM IN THE COMMUNITY.

Activities or mission (Part I)

GRAYBEARDS' PROGRAMS ARE HELPFUL IN ESTABLISHING FRIENDSHIPS ON A FIRMER AND LONG LASTING BASIS IN THE AFTERMATH OF THE WORST ACT OF TERRORISM COMMITED AGAINST THE UNITED STATES OF AMERICA ON SEPTEMBER 11, 2001 AND THE DEVASTATING CRASH OF AMERICAN AIRLINES FLIGHT #587. OUR PROGRAMS FOSTER THE GOOD AND WELFARE OF THE COMMUNITY AS WELL AS CARE FOR THOSE IN THE COMMUNITY IN THEIR TIME OF NEED. THIS YEAR, WE ACHIEVED OUR MISSION BY HAVING SEVERAL SOCIAL EVENTS AIMED AT IMPROVING RELATIONSHIPS AND FOR THE PURPOSE OF FUND-RAISING FOR SPECIFIC COMMUNITY RELATED CAUSES.

  • GRAYBEARDS HELD THREE FUNDRAISING EVENTS DURING THE YEAR TO HELP THOSE IN THE COMMUNITY IN THEIR TIME OF NEED, PROMOTE THE DEVELOPMENT/EDUCATION OF THE YOUTH AND PROMOTE INTERESTS IN OUR COMMUNITY.

    Expenses $564,083

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • TOM MORGAN

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5
  • JOHN COSGROVE

    TREASURER

    Total calculated
    $0
    Hours/week
    5
  • DAN EDWARDS

    SECRETARY

    Total calculated
    $0
    Hours/week
    5
  • JIM MORIARTY

    MEMBER

    Total calculated
    $0
    Hours/week
    5
  • ROCKY DOROGOFF

    MEMBER

    Total calculated
    $0
    Hours/week
    5
  • STEVE STATHIS

    MEMBER

    Total calculated
    $0
    Hours/week
    5
  • BRIAN KING

    MEMBER

    Total calculated
    $0
    Hours/week
    5
  • JEFF MERCER

    MEMBER

    Total calculated
    $0
    Hours/week
    5
  • MICHAEL LEE

    MEMBER

    Total calculated
    $0
    Hours/week
    5
  • JIM MULLEN

    MEMBER

    Total calculated
    $0
    Hours/week
    5
  • JOSEPH O'GRADY

    MEMBER

    Total calculated
    $0
    Hours/week
    5
  • DAN SUGRUE

    MEMBER

    Total calculated
    $0
    Hours/week
    5
  • DAN LEARY

    MEMBER

    Total calculated
    $0
    Hours/week
    5
  • JOHN LAVIN

    MEMBER

    Total calculated
    $0
    Hours/week
    5
  • JOSEPH KEENAN

    MEMBER

    Total calculated
    $0
    Hours/week
    5

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349322714

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