Heights Casino Inc
- Assets
- $6.8m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 48
- Location
- Brooklyn, NY
- Founding
- 11/1942
- Data as of
- 08/2021
- EIN
- 11-0868220
Organization Overview
Heights Casino Inc is located in Brooklyn, NY. The organization was established in 1942. 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 08/2021, Heights Casino Inc employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heights Casino Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 08/2021, Heights Casino Inc generated $5.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $4.9m during the year ending 08/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CLUB PROVIDES TENNIS AND SQUASH FACILITIES FOR THE MEMBERS. IN ADDITION, THE CLUB MAINTAINS A CLUBHOUSE IN WHICH DINING FACILITIES ARE AVAILABLE FOR THE MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cristian Petrina General Manager | Officer | 40 | $196,175 |
Clinton Alford Director Of Tennis Dept. | 40 | $194,659 | |
Linda Elriani Director Of Squash Dept. | 40 | $151,049 | |
Justin Lungstrum Vice President | OfficerTrustee | 3 | $0 |
Daniel Watts President | OfficerTrustee | 3 | $0 |
Adrian Buzz Doherty Treasurer | OfficerTrustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,758,843 |
| Investment income | $1 |
| 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 | $2,306,398 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,587,085 |
| 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. | $234,845 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,356,577 |
| Pension plan accruals and contributions | $41,284 |
| Other employee benefits | $290,684 |
| Payroll taxes | $218,568 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,342 |
| Fees for services: Accounting | $24,545 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $95,582 |
| Advertising and promotion | $0 |
| Office expenses | $263,162 |
| Information technology | $43,718 |
| Royalties | $0 |
| Occupancy | $468,285 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,334 |
| Interest | $15,219 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $567,089 |
| Insurance | $169,098 |
| All other expenses | $14,166 |
| Total functional expenses | $4,888,939 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,000 |
| Savings and temporary cash investments | $1,960,069 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,185,723 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $87,344 |
| Prepaid expenses and deferred charges | $141,008 |
| Net Land, buildings, and equipment | $3,431,929 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,000 |
| Total assets | $6,822,073 |
| Accounts payable and accrued expenses | $243,928 |
| Grants payable | $0 |
| Deferred revenue | $1,488,798 |
| 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 | $100,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $145,594 |
| Total liabilities | $1,978,320 |
| Net assets without donor restrictions | $4,843,753 |
| 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 | $6,822,073 |
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