Acorn Club
- Assets
- $6.4m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 31
- Location
- Philadelphia, PA
- Founding
- 05/1948
- Data as of
- 10/2022
- EIN
- 23-0328940
Organization Overview
Acorn Club is located in Philadelphia, PA. The organization was established in 1948. 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 10/2022, Acorn Club employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Acorn Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 10/2022, Acorn Club generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $1.3m during the year ending 10/2022. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 7 years. 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
THIS CORPORATION IS FORMED AS A PERPETUAL BODY FOR THE PROMOTION OF LITERARY, MUSICAL AND ARTISTIC TASTES, AND FOR SOCIAL ENJOYMENTS AND SUCH OTHER KINDRED PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTAURANT
BAR
SPECIAL EVENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alice Chase Governor | Trustee | 1 | $0 |
Julie Christoph Governor | Trustee | 1 | $0 |
Kira Bryers Governor | Trustee | 1 | $0 |
Diana Mason Governor | Trustee | 1 | $0 |
Lynn Salvo Governor | Trustee | 1 | $0 |
Cathy Ward Governor | 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 | $1,568,829 |
| Investment income | $64,097 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $62,828 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$172,108 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,525,048 |
| 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. | $185,440 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $296,259 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $29,358 |
| Other employee benefits | $31,047 |
| Payroll taxes | $40,309 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,916 |
| 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 | $20,589 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $116,564 |
| 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 | $151,359 |
| Insurance | $50,375 |
| All other expenses | $12,338 |
| Total functional expenses | $1,330,669 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,418,661 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $88,085 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $20,001 |
| Prepaid expenses and deferred charges | $33,152 |
| Net Land, buildings, and equipment | $978,897 |
| Investments—publicly traded securities | $3,604,786 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $250,000 |
| Total assets | $6,393,582 |
| Accounts payable and accrued expenses | $160,113 |
| 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 | $522,309 |
| Total liabilities | $682,422 |
| Net assets without donor restrictions | $5,684,624 |
| Net assets with donor restrictions | $26,536 |
| 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 | $6,393,582 |