Genesee Valley Club
- Assets
- $5.9m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 142
- Location
- Rochester, NY
- Founding
- 03/1945
- Data as of
- 02/2022
- EIN
- 16-0446600
Organization Overview
Genesee Valley Club is located in Rochester, NY. The organization was established in 1945. 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 02/2022, Genesee Valley Club employed 142 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Genesee Valley Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 02/2022, Genesee Valley Club generated $2.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $2.1m during the year ending 02/2022. As we would expect to see with falling revenues, expenses have declined by (8.5%) 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
PURPOSE OF THE CLUB IS TO PROMOTE SOCIALIZATION AMONG ITS MEMBERS, THEIR FAMILIES AND GUESTS BY PROVIDING THEM THE COMFORTS AND CONVENIENCES OF A CLUBHOUSE, INCLUDING A SPORTS CLUB, READING ROOM, LIBRARY, RESTAURANT AND BAR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB HAS SERVED TO PROMOTE SOCIALIZATION AMONG ITS MEMBERS AND HAS PROVIDED THEM WITH A CLUBHOUSE, INCLUDING A SPORTS CLUB, READING ROOM, RESTAURANT AND BAR AND HAS APPROXIMATELY 609 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John M Corey Gm/coo | Officer | 40 | $198,714 |
Michael Macri Executive Chef | 40 | $126,706 | |
M Karen Webber President | OfficerTrustee | 1 | $0 |
Richard L Goldstein Treasurer | OfficerTrustee | 1 | $0 |
Aaron Hilger Vice President | OfficerTrustee | 1 | $0 |
Megan Henry Governor | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $810,435 |
| 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 | $810,435 |
| Total Program Service Revenue | $3,541,789 |
| Investment income | $0 |
| 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 | -$1,969,896 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,382,328 |
| 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. | $244,036 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $837,325 |
| Pension plan accruals and contributions | $15,404 |
| Other employee benefits | $45,518 |
| Payroll taxes | $94,820 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,383 |
| Fees for services: Accounting | $21,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $121,109 |
| Advertising and promotion | $7,604 |
| Office expenses | $43,102 |
| Information technology | $62,012 |
| Royalties | $0 |
| Occupancy | $78,955 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $18,483 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $105,110 |
| Insurance | $34,970 |
| All other expenses | $0 |
| Total functional expenses | $2,068,915 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,783,826 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $470,923 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $125,624 |
| Prepaid expenses and deferred charges | $87,052 |
| Net Land, buildings, and equipment | $2,873,647 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $562,953 |
| Total assets | $5,904,025 |
| Accounts payable and accrued expenses | $462,925 |
| Grants payable | $0 |
| Deferred revenue | $90,433 |
| 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 | $2,499,515 |
| Unsecured mortgages and notes payable | $705,717 |
| Other liabilities | $562,953 |
| Total liabilities | $4,321,543 |
| Net assets without donor restrictions | $1,582,482 |
| 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 | $5,904,025 |
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