Cynwyd Club
- Assets
- $6.6m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 67
- Location
- Bala Cynwyd, PA
- Founding
- 04/1986
- Data as of
- 02/2024
- EIN
- 23-0506240
Organization Overview
Cynwyd Club is located in Bala Cynwyd, PA. The organization was established in 1986. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 02/2024, Cynwyd Club employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cynwyd Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 02/2024, Cynwyd Club generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 19.2% each year . All expenses for the organization totaled $2.7m during the year ending 02/2024. While expenses have increased by 12.8% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO BE ONE OF THE PHILADELPHIA MAIN LINE PREMIER PRIVATE CLUBS FOR TENNIS, SQUASH, FITNESS, AND SOCIALIZING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTAURANT & BAR
SQUASH, TENNIS, & RACQUETS
FITNESS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Reed Director | Trustee | 1 | $0 |
Jan Strouse Director | Trustee | 1 | $0 |
Matthew Foreman Director | Trustee | 1 | $0 |
Jason King Director | Trustee | 1 | $0 |
Vanessa Coke-Cohen Director | Trustee | 1 | $0 |
Gerard Madrey Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aqua Safe Pool Management Inc Pool Management & Operations | 2/28/20 | $150,992 |
Julie's Gym Llc Fitness Center | 2/28/20 | $123,588 |
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 | $2,929,461 |
| Investment income | $641 |
| 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 | $98,086 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,141,087 |
| 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. | $230,001 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $859,198 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $58,676 |
| Payroll taxes | $78,673 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,507 |
| Fees for services: Accounting | $16,320 |
| 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 | $21,809 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $157,588 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $171,211 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $433,253 |
| Insurance | $77,208 |
| All other expenses | $127,506 |
| Total functional expenses | $2,653,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $354,771 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $697,302 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $54,877 |
| Prepaid expenses and deferred charges | $97,567 |
| Net Land, buildings, and equipment | $5,146,493 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $284,410 |
| Total assets | $6,635,420 |
| Accounts payable and accrued expenses | $318,398 |
| Grants payable | $0 |
| Deferred revenue | $576,735 |
| 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 | $4,119,069 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,014,202 |
| Net assets without donor restrictions | $1,621,218 |
| 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 | $6,635,420 |