The Lake Valhalla Club
- Assets
- $3.6m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 118
- Location
- Montville, NJ
- Founding
- 10/1968
- Data as of
- 12/2021
- EIN
- 22-6097065
Organization Overview
The Lake Valhalla Club is located in Montville, NJ. The organization was established in 1968. 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, Lake Valhalla Club employed 118 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Valhalla Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Lake Valhalla Club generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $2.3m during the year ending 12/2021. 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
TO PROVIDE RECREATIONAL AND SOCIAL ACTIVITIES TO MEMBERS AND THEIR GUESTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Fonseca Vice President | OfficerTrustee | 5 | $0 |
Patrick Mcnamara President | OfficerTrustee | 10 | $0 |
Daniel Richards Treasurer | OfficerTrustee | 5 | $0 |
Marianne Green Recording Secretary | OfficerTrustee | 5 | $0 |
Eamon Loughran Corresponding Secretary | OfficerTrustee | 5 | $0 |
Laure Richmond Member At Large | 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 | $1,671,912 |
| Investment income | $3,602 |
| 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 | $1,067,381 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,742,895 |
| 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 | $1,115,562 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $53,079 |
| Payroll taxes | $81,270 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,000 |
| Fees for services: Accounting | $14,508 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,311 |
| Office expenses | $225,333 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $193,837 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $22,953 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $123,540 |
| Insurance | $208,687 |
| All other expenses | $12,395 |
| Total functional expenses | $2,260,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $362,912 |
| Savings and temporary cash investments | $1,118,267 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $145,614 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $56,110 |
| Prepaid expenses and deferred charges | $23,920 |
| Net Land, buildings, and equipment | $1,909,288 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,360 |
| Total assets | $3,621,471 |
| Accounts payable and accrued expenses | $111,285 |
| Grants payable | $0 |
| Deferred revenue | $87,342 |
| 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 | $615,349 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $813,976 |
| Net assets without donor restrictions | $2,807,495 |
| 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 | $3,621,471 |
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