Park Avenue Club Inc
- Assets
- $3.2m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 105
- Location
- Florham Park, NJ
- Founding
- 12/1993
- Data as of
- 12/2021
- EIN
- 22-3154884
Organization Overview
Park Avenue Club Inc is located in Florham Park, NJ. The organization was established in 1993. 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 12/2021, Park Avenue Club Inc employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Park Avenue 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, Park Avenue Club Inc generated $4.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $4.3m during the year ending 12/2021. While expenses have increased by 2.1% 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
PRIVATE SOCIAL CLUB PROVIDING FINE DINING AND CATERING EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory Smith Executive Director | Officer | 40 | $153,604 |
Arnold Kruck Executive Chef | 40 | $135,207 | |
Steven Lindner President | OfficerTrustee | 3 | $0 |
Suzanne Cerra Secretary | OfficerTrustee | 3 | $0 |
Anthony J Romano Treasurer | OfficerTrustee | 3 | $0 |
John Sebastiano Vice President | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $562,017 |
| 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 | $562,017 |
| Total Program Service Revenue | $1,038,283 |
| Investment income | $947 |
| 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 | $2,679,215 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,937,751 |
| 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. | $163,720 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,133,953 |
| Pension plan accruals and contributions | $540 |
| Other employee benefits | $169,850 |
| Payroll taxes | $181,480 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,146 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $56,753 |
| Advertising and promotion | $0 |
| Office expenses | $152,390 |
| Information technology | $26,152 |
| Royalties | $0 |
| Occupancy | $489,898 |
| Travel | $625 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $86,705 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $125,004 |
| Insurance | $84,394 |
| All other expenses | $2,149 |
| Total functional expenses | $4,251,705 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $413,213 |
| Savings and temporary cash investments | $1,435,868 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $156,161 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $127,595 |
| Prepaid expenses and deferred charges | $17,353 |
| Net Land, buildings, and equipment | $1,029,805 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,179,995 |
| Accounts payable and accrued expenses | $1,320,407 |
| Grants payable | $0 |
| Deferred revenue | $1,833,950 |
| 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 | $3,378,660 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $57,344 |
| Total liabilities | $6,590,361 |
| Net assets without donor restrictions | -$3,410,366 |
| 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 | $3,179,995 |
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