Jersey Aero Club
- Assets
- $595.4k
- Revenue
- $596.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Lakewood, NJ
- Founding
- 04/1940
- Data as of
- 12/2023
- EIN
- 21-0743749
Organization Overview
Jersey Aero Club is located in Lakewood, NJ. The organization was established in 1940. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, 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. Jersey Aero Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Jersey Aero Club generated $596.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $573.6k during the year ending 12/2023. While expenses have increased by 17.5% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE JERSEY AERO CLUB IS A NON-PROFIT ORGANIZATION FORMED AND OPERATED FOR THE PURPOSE OF PROVIDING A WAY OF FLYING QUALITY AIRCRAFT AS INEXPENSIVELY AS POSSIBLE FOR AS MANY PEOPLE AS POSSIBLE, AND THEREFORE TO AID IN FURTHERING GENERAL AVIATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A WAY OF FLYING QUALITY AIRCRAFT AS INEXPENSIVELY AS POSSIBLE FOR AS MANY PEOPLE AS POSSIBLE, AND THEREFORE TO AID IN FURTHERING GENERAL AVIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Stephenson President | OfficerTrustee | 10 | $0 |
Robert Mchugh Vice President | OfficerTrustee | 10 | $0 |
Phil Zollner Secretary | OfficerTrustee | 2 | $0 |
David M Williamson Treasurer | OfficerTrustee | 15 | $0 |
Vincent Diprenda Director | Trustee | 1 | $0 |
Cheryl Pappa Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $148,331 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,558 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $149,889 |
| Total Program Service Revenue | $444,756 |
| Investment income | $8 |
| 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 | $68 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $596,597 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $682 |
| Information technology | $1,519 |
| Royalties | $0 |
| Occupancy | $19,545 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,125 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $98,378 |
| Insurance | $70,840 |
| All other expenses | $12,824 |
| Total functional expenses | $573,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,250 |
| Savings and temporary cash investments | $94,099 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,383 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,630 |
| Prepaid expenses and deferred charges | $42,990 |
| Net Land, buildings, and equipment | $433,951 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,050 |
| Total assets | $595,353 |
| Accounts payable and accrued expenses | $18,883 |
| Grants payable | $0 |
| Deferred revenue | $81,205 |
| 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 | $156,672 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,494 |
| Total liabilities | $260,254 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $50,051 |
| Paid-in or capital surplus, or land, building, or equipment fund | $93,087 |
| Retained earnings, endowment, accumulated income, or other funds | $191,961 |
| Total liabilities and net assets/fund balances | $595,353 |