Paramus Flying Club
- Assets
- $380.5k
- Revenue
- $301.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Fairfield, NJ
- Founding
- Data as of
- 12/2022
- EIN
- 22-2845767
Organization Overview
Paramus Flying Club is located in Fairfield, NJ. Paramus Flying Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Paramus Flying Club generated $301.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $402.8k during the year ending 12/2022. While expenses have increased by 13.8% 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
FLYING CLUB - SOCIAL CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY PURPOSE IS TO PROVIDE THE MEMBERS WITH THE OPPORTUNITY TO FLY IN WELL MAINTAINED, MUTUALLY-OWNED AIRCRAFT FOR RECREATION AT AN AFFORDABLE PRICE. THE ORGANIZATION ALSO PROVIDES THE MEMBERS A CHANCE TO COMMINGLE AND EXCHANGE FLYING EXPERIENCES AND KNOWLEDGE IN A PLEASURABLE WAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dara Dunn Trustee | OfficerTrustee | 5 | $0 |
Roberto Costanzo Vice Preside | OfficerTrustee | 5 | $0 |
Nima Shafiee Trustee | OfficerTrustee | 5 | $0 |
Myung Kil Treasurer | OfficerTrustee | 5 | $0 |
Charles Yoon Secretary | OfficerTrustee | 5 | $0 |
Michael Moceri Trustee | Trustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $301,097 |
| Investment income | $58 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $301,157 |
| 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 | $1,160 |
| 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 | $518 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $22,899 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,739 |
| Insurance | $31,972 |
| All other expenses | $11,537 |
| Total functional expenses | $402,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,527 |
| Savings and temporary cash investments | $1,004 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,681 |
| 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 | $292,767 |
| Investments—publicly traded securities | $1,492 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $380,471 |
| Accounts payable and accrued expenses | $2,700 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $311,246 |
| Other liabilities | $0 |
| Total liabilities | $313,946 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $317,500 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$250,975 |
| Total liabilities and net assets/fund balances | $380,471 |
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