Lotos Club Inc
- Assets
- $16.1m
- Revenue
- $6.5m
- Investments
- $347.8k
- Employees
- 0
- Location
- New York, NY
- Founding
- 02/1942
- Data as of
- 06/2022
- EIN
- 13-0984890
Organization Overview
Lotos Club Inc is located in New York, 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lotos 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 06/2022, Lotos Club Inc generated $6.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $6.9m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND DEVELOP LITERATURE, ART, SCULPTURE, MUSIC, ARCHITECTURE, JOURNALISM, EDUCATION, AND THE LEARNED PROFESSIONALS AMONG ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John J Mcgrath General Manager Thru Feb 2022 | Officer | 37.5 | $373,440 |
Darlene P Craig Controller | 37.5 | $221,350 | |
Raymond Hollanda Chef | 37.5 | $208,361 | |
Heather Lasnier General Manager From Mar 2022 | 37.5 | $153,211 | |
Vincent Q Giffuni President | OfficerTrustee | 2 | $0 |
Phyllis Z Ginstling Treasurer | OfficerTrustee | 2 | $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 | $875 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $875 |
| Total Program Service Revenue | $2,938,265 |
| Investment income | $118,867 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $55,000 |
| Net Gain/Loss on Asset Sales | $303,182 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,939,792 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,541,240 |
| 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. | $409,514 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,862,173 |
| Pension plan accruals and contributions | $432,354 |
| Other employee benefits | $1,128,705 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,994 |
| Fees for services: Accounting | $33,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $57,336 |
| Fees for services: Other | $3,006 |
| Advertising and promotion | $0 |
| Office expenses | $315,833 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $350,671 |
| Travel | $8,488 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $192,266 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $323,777 |
| Insurance | $160,479 |
| All other expenses | $0 |
| Total functional expenses | $6,924,363 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,969 |
| Savings and temporary cash investments | $1,488,280 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,003,887 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $90,095 |
| Prepaid expenses and deferred charges | $75,537 |
| Net Land, buildings, and equipment | $5,340,461 |
| Investments—publicly traded securities | $7,133,476 |
| Investments—other securities | $347,777 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $592,394 |
| Total assets | $16,117,876 |
| Accounts payable and accrued expenses | $1,092,607 |
| Grants payable | $0 |
| Deferred revenue | $1,084,116 |
| 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 | $4,621,008 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $55,498 |
| Total liabilities | $6,853,229 |
| Net assets without donor restrictions | $9,264,647 |
| 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 | $16,117,876 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lotos Club Inc has recieved totaling $200.
| Awarding Organization | Amount |
|---|---|
The Albert And Lin Bildner Foundation Inc New York, NY PURPOSE: HUMANITARIAN | $200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Canoe Brook Country Club Summit, NJ | $49,012,793 | $22,669,304 |
Glen Oaks Club Inc Old Westbury, NY | $13,779,705 | $20,068,781 |
Saucon Valley Country Club Bethlehem, PA | $67,852,931 | $24,203,066 |
Sleepy Hollow Country Club Westchester Scarborough, NY | $36,824,085 | $23,136,850 |
Wee Burn Country Club Inc Darien, CT | $32,519,463 | $16,725,850 |
Piping Rock Club Locust Valley, NY | $31,334,038 | $17,059,500 |
Philadelphia Cricket Club Philadelphia, PA | $37,903,760 | $20,280,729 |
Rolling Rock Club Ligonier, PA | $40,965,761 | $18,300,601 |
Oak Hill Country Club Rochester, NY | $24,513,885 | $17,798,483 |
The Ridgewood Country Club Paramus, NJ | $31,275,344 | $17,956,980 |
Montclair Golf Club Montclair, NJ | $32,931,083 | $17,687,834 |
Greenwich Country Club Greenwich, CT | $48,407,804 | $23,136,592 |