Somerset Lake & Game Club
- Assets
- $2.2m
- Revenue
- $630.7k
- Investments
- $0.0
- Employees
- 47
- Location
- Far Hills, NJ
- Founding
- 11/1934
- Data as of
- 03/2022
- EIN
- 22-1407427
Organization Overview
Somerset Lake & Game Club is located in Far Hills, NJ. The organization was established in 1934. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 03/2022, Somerset Lake & Game Club employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somerset Lake & Game Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 03/2022, Somerset Lake & Game Club generated $630.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $547.1k during the year ending 03/2022. While expenses have increased by 2.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SOMERSET LAKE & GAME CLUB WAS FORMED FOR SOCIAL, INTELLECTUAL AND RECREATIONAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS PROVIDED INCLUDE SWIMMING, BOATING, FISHING, AND PICNICS FOR THE MEMBER FAMILIES.
FIVE (5) WEEK SUMMER CAMP FOR CHILDREN OF THE MEMBERS FROM AGES 4 TO 13. THE PARTICIPANTS ARE ENGAGED IN ARTS AND CRAFTS, GAMES AND SWIMMING DURING THE 3 HOUR CAMP SESSION.
TENNIS LESSONS ARE OFFERED TO MEMBERS AND THEIR FAMILIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Hendershot President | OfficerTrustee | 1 | $0 |
William Carifa Treasurer | OfficerTrustee | 1 | $0 |
Laura Jelinick Secretary | OfficerTrustee | 1 | $0 |
Michael Osterman Trustee | Trustee | 1 | $0 |
Lauren Diemar Trustee | Trustee | 1 | $0 |
John Turpin Trustee | Trustee | 1 | $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 | $588,758 |
| Investment income | $13,450 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $28,477 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $630,685 |
| 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 | $128,291 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,269 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,196 |
| 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 | $6,594 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,161 |
| 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 | $195,710 |
| Insurance | $36,923 |
| All other expenses | $72,878 |
| Total functional expenses | $547,062 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $304,470 |
| Savings and temporary cash investments | $855 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $824 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,349,670 |
| Investments—publicly traded securities | $589,264 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,245,083 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $5,158 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,158 |
| Net assets without donor restrictions | $2,239,925 |
| 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 | $2,245,083 |
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