Edgartown Reading Room Inc
- Assets
- $1.1m
- Revenue
- $167.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Edgartown, MA
- Founding
- 09/1979
- Data as of
- 12/2022
- EIN
- 04-1278306
Organization Overview
Edgartown Reading Room Inc is located in Edgartown, MA. The organization was established in 1979. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Edgartown Reading Room Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edgartown Reading Room Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Edgartown Reading Room Inc generated $167.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (12.4%) each year. All expenses for the organization totaled $332.0k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SOCIAL CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF PRIVATE CLUB.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen D Warriner President | Officer | 5 | $0 |
Thomas H Maccowatt Treasurer | Officer | 5 | $0 |
S Christopher Scott Clerk | Officer | 5 | $0 |
Michael C Mackenty Vice Preside | OfficerTrustee | 5 | $0 |
Paul E Mitchell Director | Trustee | 1 | $0 |
Eric Brown Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $174,945 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $174,945 |
| Total Program Service Revenue | $0 |
| Investment income | $21,625 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $108,029 |
| Net Gain/Loss on Asset Sales | $19,433 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$156,548 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $167,484 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,404 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,612 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $41,780 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $44,006 |
| All other expenses | $0 |
| Total functional expenses | $332,041 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $185,983 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,974 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,526 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $847,884 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,061,367 |
| Accounts payable and accrued expenses | $921 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,781 |
| Total liabilities | $7,702 |
| Net assets without donor restrictions | $1,053,665 |
| Net assets with donor restrictions | $0 |
| 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 | $1,061,367 |