Somerset Club Charitable Trust
- Assets
- $230.3k
- Revenue
- $70.6k
- Investments
- $220.1k
- Employees
- 0
- Location
- Boston, MA
- Founding
- 10/1964
- Data as of
- 03/2024
- EIN
- 04-6112332
Organization Overview
Somerset Club Charitable Trust is located in Boston, MA. The organization was established in 1964. According to its NTEE Classification (N11) the organization is classified as: Single Organization Support, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somerset Club Charitable Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2024, Somerset Club Charitable Trust generated $70.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 32.0% each year . All expenses for the organization totaled $11.4k during the year ending 03/2024. While expenses have increased by 7.5% per year over the past 7 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
RELIEF TO FIVE INDIVIDUALS WHO HAD RENDERED SERVICE TO THE CLUB. SEE PART XIV.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard D Batchelder Jr President | 0.5 | $0 | |
Alastair Adam Treasurer | 0.1 | $0 | |
Stephen J Pellegrino Secretary | 0.1 | $0 | |
Brent E Shay Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $500 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,680 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $67,463 |
| Capital Gain Net Income | $67,463 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $70,643 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $228 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $88 |
| Total operating and administrative expenses | $2,604 |
| Contributions, gifts, grants paid | $8,750 |
| Total expenses and disbursements | $11,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,149 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $220,144 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $230,293 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Somerset Club Charitable Trust has awarded $8,750 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
DAVID JACKSON PURPOSE: FINANCIAL SUPPORT | $1,750 |
ENRICO SEVERE PURPOSE: FINANCIAL SUPPORT | $4,000 |
IMMEDIATE FAMILY OF RYAN JEFFERSON PURPOSE: FINANCIAL SUPPORT | $2,500 |
JAMES JEWETT PURPOSE: FINANCIAL SUPPORT | $500 |