Saugus Italian American Club Inc
- Assets
- $158.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Saugus, MA
- Founding
- 04/1994
- Data as of
- 12/2021
- EIN
- 04-3103400
Organization Overview
Saugus Italian American Club Inc is located in Saugus, MA. The organization was established in 1994. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Saugus Italian American Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Saugus Italian American Club Inc generated $129.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $112.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Salernojr Treasurer | 10 | $2,500 | |
Vincent Serino Secretary | 10 | $0 | |
Paul Serino President | 10 | $0 | |
William Nicolo Director | 4 | $0 | |
Gary Nicolo Director | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $104,120 |
| Membership dues | $3,080 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $22,522 |
| Total Revenue | $129,722 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $1,388 |
| Salaries, other compensation, and employee benefits | $2,500 |
| Professional fees and other payments to independent contractors | $10,050 |
| Occupancy, rent, utilities, and maintenance | $25,038 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $73,915 |
| Total expenses | $112,891 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $94,903 |
| Other assets | $0 |
| Total assets | $158,324 |
| Total liabilities | $59,384 |
| Net assets or fund balances | $98,940 |
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