Cumberland Club
- Assets
- $1.8m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 26
- Location
- Portland, ME
- Founding
- 06/1942
- Data as of
- 12/2023
- EIN
- 01-0052260
Organization Overview
Cumberland Club is located in Portland, ME. The organization was established in 1942. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Cumberland Club employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cumberland Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Cumberland Club generated $1.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 6.0% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ALL ACTIVITIES ENABLE THE CUMBERLAND CLUB TO PROVIDE MEALS, RECREATION, AND OTHER SOCIAL ACTIVITIES FOR THE BENEFIT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MEALS AND SOCIAL FUNCTIONS FOR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Stevens President | OfficerTrustee | 6 | $0 |
Ron Guerin Vice President | OfficerTrustee | 2 | $0 |
Elizabeth Astor Secretary | OfficerTrustee | 1 | $0 |
Rich Dana Treasurer | OfficerTrustee | 1 | $0 |
John Hatcher House Chair | OfficerTrustee | 1 | $0 |
Matthew Arey Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $446,657 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $446,657 |
| Total Program Service Revenue | $1,131,852 |
| Investment income | $13,644 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $8,314 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,655,969 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $144,476 |
| Compensation of current officers, directors, key employees. | $139,686 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $311,957 |
| Pension plan accruals and contributions | $17,202 |
| Other employee benefits | $46,133 |
| Payroll taxes | $99,548 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $63,922 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,902 |
| Fees for services: Other | $86,096 |
| Advertising and promotion | $4,815 |
| Office expenses | $31,425 |
| Information technology | $31,806 |
| Royalties | $0 |
| Occupancy | $168,258 |
| Travel | $377 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,575 |
| Interest | $6,286 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $78,010 |
| Insurance | $19,643 |
| All other expenses | $19,745 |
| Total functional expenses | $1,285,267 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $447,913 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $203,837 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $42,982 |
| Prepaid expenses and deferred charges | $22,930 |
| Net Land, buildings, and equipment | $766,199 |
| Investments—publicly traded securities | $315,870 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,799,731 |
| Accounts payable and accrued expenses | $125,819 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $275,819 |
| Net assets without donor restrictions | $1,301,902 |
| Net assets with donor restrictions | $222,010 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,799,731 |