Clambake Club Of Newport
- Assets
- $6.3m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 38
- Location
- Newport, RI
- Founding
- 12/1940
- Data as of
- 12/2023
- EIN
- 05-0121050
Organization Overview
Clambake Club Of Newport is located in Newport, RI. The organization was established in 1940. 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, Clambake Club Of Newport employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clambake Club Of Newport 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, Clambake Club Of Newport generated $2.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $1.2m during the year ending 12/2023. While expenses have increased by 5.6% 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
SOCIAL CLUB PROVIDING FACILITIES FOR SOCIAL, RECREATIONAL AND SPORTING ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLUB FACILITIES PROVIDING SOCIAL, RECREATIONAL AND SPORTING ACTIVITIES FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John M Peixinho President | OfficerTrustee | 3 | $0 |
Duncan A Chapman Treasurer | OfficerTrustee | 3 | $0 |
Amelia M Berkowitz Secretary | OfficerTrustee | 3 | $0 |
Frances H Van Liew Governor | Trustee | 3 | $0 |
Dorrance H Benson Governor | Trustee | 3 | $0 |
Annie Laurie Ishman Governor | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,563 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,563 |
| Total Program Service Revenue | $2,547,715 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $27,000 |
| 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 | -$570,862 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,062,965 |
| 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. | $181,775 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $156,603 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $72,380 |
| Payroll taxes | $50,652 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,344 |
| Fees for services: Accounting | $24,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,343 |
| Advertising and promotion | $0 |
| Office expenses | $54,919 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,296 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,288 |
| Interest | $547 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $153,849 |
| Insurance | $88,598 |
| All other expenses | $423 |
| Total functional expenses | $1,155,420 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $685,551 |
| Savings and temporary cash investments | $170,532 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,589 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $46,696 |
| Prepaid expenses and deferred charges | $50,969 |
| Net Land, buildings, and equipment | $5,373,091 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,349,428 |
| Accounts payable and accrued expenses | $107,353 |
| Grants payable | $0 |
| Deferred revenue | $957,680 |
| 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 | $4,950 |
| Total liabilities | $1,069,983 |
| Net assets without donor restrictions | $4,413,531 |
| Net assets with donor restrictions | $865,914 |
| 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 | $6,349,428 |