New Jersey Latvian Society U S A
- Assets
- $549.4k
- Revenue
- $148.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Freehold, NJ
- Founding
- 11/1966
- Data as of
- 12/2023
- EIN
- 22-6082738
Organization Overview
New Jersey Latvian Society U S A, operating under the name Priedaine, is located in Freehold, NJ. The organization was established in 1966. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Priedaine is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Priedaine generated $148.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $115.7k during the year ending 12/2023. While expenses have increased by 5.5% 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
SOCIAL CLUB, NON-PROFIT CORP. ACTIVITIES: TO PRESERVE & PROMOTE LATVIAN CULTURE, EDUCATE & SUPPORT LATVIAN YOUTH, STRENGTHEN LATVIAN HERITAGE & EDUCATE PUBLIC ABOUT HISTORICAL EVENTS. ORGANIZE CULTURAL EVENTS, SUPPORT LATVIAN YOUTH WITH LATVIAN LANGUAGE SCHOLARSHIPS, PROVIDE HELP FOR NEEDY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT LATVIAN YOUTH WITH LATVIAN LANGUAGE SCHOLARSHIPS
MEMBERSIP
PRESERVE & REMOTE CULTURE, ORGANIZE CULTURAL EVENTS, PROGRAMS
MAINTAIN CULTURAL CENTER FOR MEETINGS & CULTURAL EVENTS SUCH AS CONCERTS & SEMINARS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarmite Leja President | Officer | 5 | $0 |
Maris Sermolins Vice Pres | Officer | 4 | $0 |
Ingrida I Valdmanis Treasurer | Officer | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,850 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $84,981 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $88,831 |
| Total Program Service Revenue | $10,918 |
| Investment income | $2,116 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $46,680 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $148,820 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,900 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $700 |
| 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 | $10,928 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $955 |
| Fees for services: Management | $458 |
| Fees for services: Legal | $530 |
| Fees for services: Accounting | $1,018 |
| 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 | $4,757 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,061 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,623 |
| Interest | $0 |
| Payments to affiliates | $560 |
| Depreciation, depletion, and amortization | $30,381 |
| Insurance | $13,070 |
| All other expenses | $0 |
| Total functional expenses | $115,674 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $115,496 |
| Savings and temporary cash investments | $148,482 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $285,450 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $549,428 |
| Accounts payable and accrued expenses | $1,712 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,712 |
| Net assets without donor restrictions | $0 |
| 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 | $547,716 |
| Total liabilities and net assets/fund balances | $549,428 |