Saratoga Reading Rooms Inc
- Assets
- $950.2k
- Revenue
- $593.3k
- Investments
- $0.0
- Employees
- 28
- Location
- Saratoga Springs, NY
- Founding
- 04/1947
- Data as of
- 12/2021
- EIN
- 11-1902995
Organization Overview
Saratoga Reading Rooms Inc is located in Saratoga Springs, NY. The organization was established in 1947. 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 12/2021, Saratoga Reading Rooms Inc employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Saratoga Reading Rooms 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, Saratoga Reading Rooms Inc generated $593.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $536.2k during the year ending 12/2021. While expenses have increased by 1.9% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SARATOGA READING ROOMS MAINTAINS A READING ROOM, LODGING, AND RECREATIONAL (CONTINUED ON SCHEDULE O) FACILITY DURING THE SARATOGA SPRINGS THOROUGHBRED RACING SEASON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SARATOGA READING ROOMS MAINTAINS A READING ROOM, LODGING, AND RECREATIONAL FACILITY DURING THE SARATOGA SPRINGS THOROUGHBRED RACING SEASON.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Haggin Vice President | OfficerTrustee | 0 | $0 |
John T Von Stade Secretary/treas | OfficerTrustee | 0 | $0 |
Peter Dibonaventura President | OfficerTrustee | 0 | $0 |
G Watts Humphrey Jr Director | Trustee | 0 | $0 |
Brady Carruth Director | Trustee | 0 | $0 |
William S Farish Jr Director | Trustee | 0 | $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 | $394,998 |
| Investment income | $23,389 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,435 |
| Net Gain/Loss on Asset Sales | $40,331 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $131,527 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $593,280 |
| 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 | $174,274 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $43,016 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,314 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,578 |
| Fees for services: Other | $760 |
| Advertising and promotion | $0 |
| Office expenses | $29,456 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $111,265 |
| Travel | $1,415 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $696 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,437 |
| Insurance | $24,924 |
| All other expenses | $16,355 |
| Total functional expenses | $536,161 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143,204 |
| Savings and temporary cash investments | $155,967 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $37,140 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $210,106 |
| Investments—publicly traded securities | $403,635 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $115 |
| Total assets | $950,167 |
| Accounts payable and accrued expenses | $0 |
| 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 | $50,885 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $50,885 |
| Net assets without donor restrictions | $0 |
| 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 | $899,282 |
| Total liabilities and net assets/fund balances | $950,167 |
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