Penn Yan Flying Club Inc
- Assets
- $514.0k
- Revenue
- $323.3k
- Investments
- $0.0
- Employees
- 9
- Location
- Penn Yan, NY
- Founding
- 09/1974
- Data as of
- 12/2021
- EIN
- 16-0586352
Organization Overview
Penn Yan Flying Club Inc is located in Penn Yan, NY. The organization was established in 1974. As of 12/2021, Penn Yan Flying Club Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Penn Yan Flying 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 12/2021, Penn Yan Flying Club Inc generated $323.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $297.1k during the year ending 12/2021. While expenses have increased by 5.0% 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
FLYING INSTRUCTION AND AIRCRAFT SUPPORT
Describe the Organization's Program Activity:
Part 3 - Line 4a
FLYING INSTRUCTION AND AIRCRAFT SUPPORT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Bliek Corresponding Secretary | OfficerTrustee | 5 | $3,938 |
James Alexander President | OfficerTrustee | 5 | $1,461 |
Jeff Wainwright Member Accounts Treasurer | OfficerTrustee | 5 | $360 |
Joshua Moore Cash Treasurer | OfficerTrustee | 5 | $0 |
Brian Gruschow Vice President | OfficerTrustee | 5 | $0 |
Darlene Palmer Recording Secretary (part Year) | OfficerTrustee | 5 | $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 | $1,917 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,917 |
| Total Program Service Revenue | $242,300 |
| Investment income | $3,256 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,247 |
| Net Gain/Loss on Asset Sales | $45,321 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,122 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $323,346 |
| 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. | $5,759 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,067 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,823 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,094 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,401 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,732 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,889 |
| Insurance | $22,780 |
| All other expenses | $9,374 |
| Total functional expenses | $297,053 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,788 |
| Savings and temporary cash investments | $24,386 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,614 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,843 |
| Prepaid expenses and deferred charges | $8,285 |
| Net Land, buildings, and equipment | $116,652 |
| Investments—publicly traded securities | $290,356 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $48,125 |
| Other assets | $0 |
| Total assets | $514,049 |
| Accounts payable and accrued expenses | $4,289 |
| 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 | $11,694 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $586 |
| Total liabilities | $16,569 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $286,789 |
| Paid-in or capital surplus, or land, building, or equipment fund | $200,352 |
| Retained earnings, endowment, accumulated income, or other funds | $10,339 |
| Total liabilities and net assets/fund balances | $514,049 |
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