Rowfant Club
- Assets
- $9.5m
- Revenue
- $895.1k
- Investments
- $0.0
- Employees
- 7
- Location
- Cleveland, OH
- Founding
- 02/1938
- Data as of
- 12/2021
- EIN
- 34-0789959
Organization Overview
Rowfant Club, operating under the name The Rowfant Club, is located in Cleveland, OH. The organization was established in 1938. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2021, Rowfant Club employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rowfant Club is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Rowfant Club generated $895.1k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 22.0% each year . All expenses for the organization totaled $393.2k 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
A BIBLIOPHILIC SOCIETY OF CLEVELAND DEDICATED TO THE LOVE OF BOOKS IN ALL THEIR CAPACITIES TO PLEASE THE MIND OF MAN
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ROWFANT CLUB CONSISTS OF 174 MEMBERS LOCATED AROUND THE COUNTRY. DUE TO THE COIVD-19 PANDEMIC, PROGRAMS WERE FUNCTIONING ON A REMOTE BASIS FOR THE FIRST HALF OF THE YEAR. MEMBERS WERE INVITED AND ENCOURAGED TO PARTICIPATE REMOTELY FROM THEIR HOMES TO STAY ENGAGED AND CONTINUE TO LEARN WITH OTHER MEMBERS OF THE CLUB. THE ABILITY TO OFFER VIRTUAL PROGRAMMING ENABLED MEMBERS OUTSIDE OF CLEVELAND TO PARTICIPATE. AS THE RESTRICTIONS ASSOCIATED WITH THE COVID-19 PANDEMIC WERE LIFTED, THE CLUB BEGAN TO OFFER LIMITED IN-PERSON PROGRAMS. THESE IN-PERSON PROGAMS AND EVENTS WERE OFFERED IN THE SECOND HALF OF 2021.
THOUGH MOST MEMBERS WERE NOT VISITING THE ROWFANT CLUB IN PERSON IN 2021 DUE TO THE COVID-19 PANDEMIC, BOARD MEMBERS MADE A POINT TO ALLOCATE FUNDS TO PURCHASE NEW BOOKS FOR THE LIBRARY AND ALSO HIRE A CATALOGER TO DOCUMENT THE UNIQUE LISTING OF BOOKS FOUND IN THE CLUB'S LIBRARY. THE LIBRARY IS A DEMONSTRATION OF THE CLUB'S LONGSTANDING COMMITMENT TO ACQUIRING AND PRESERVING HISTORICAL BOOKS FOR ITS MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter J Haas President | OfficerTrustee | 10 | $0 |
Edward A Bernetich Vice President | OfficerTrustee | 10 | $0 |
Mark F Mccarthy Secretary | OfficerTrustee | 4 | $0 |
Richard G Stuhan Treasurer | OfficerTrustee | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $92,753 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $38,591 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $131,344 |
| Total Program Service Revenue | $9,436 |
| Investment income | $754,361 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $895,141 |
| 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 | $43,270 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,115 |
| Payroll taxes | $4,775 |
| Fees for services: Management | $25,025 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,731 |
| 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 | $3,651 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,980 |
| Travel | $3 |
| 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 | $143,942 |
| Insurance | $25,151 |
| All other expenses | $0 |
| Total functional expenses | $393,249 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $79,284 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $969 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $174 |
| Prepaid expenses and deferred charges | $4,946 |
| Net Land, buildings, and equipment | $3,050,869 |
| Investments—publicly traded securities | $3,867,092 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,454,510 |
| Total assets | $9,457,844 |
| Accounts payable and accrued expenses | $15,769 |
| Grants payable | $0 |
| Deferred revenue | $38,819 |
| 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 | $54,588 |
| Net assets without donor restrictions | $6,125,532 |
| Net assets with donor restrictions | $3,277,724 |
| 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 | $9,457,844 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rowfant Club has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
William H Gardiner Family Foundation Hunting Valley, OH PURPOSE: TO FUND AND SUPPORT EXEMPT PURPOSES | $1,000 |
Endowment Analysis
| Beg. Balance | $3,284,367 |
| Earnings | $754,358 |
| Admin Expense | $25,025 |
| Other Expense | $146,608 |
| Ending Balance | $3,867,092 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Ohio University Foundation Athens, OH | $641,559,157 | $75,179,430 |
Iu Medical Group Foundation Inc Indianapolis, IN | $256,189,183 | $45,380,536 |
Western Michigan University Foundation Kalamazoo, MI | $431,026,780 | $43,479,998 |
Pelotonia Columbuus, OH | $27,807,886 | $34,892,875 |
Wku Student Life Foundation Inc Bowling Green, KY | $178,491,745 | $30,600,200 |
Foundation For Indiana University Of Pennsylvania Indiana, PA | $226,911,998 | $27,994,482 |
Miami University Foundation Inc Oxford, OH | $724,573,926 | $28,643,439 |
Bowling Green State University Foundation Inc Bowling Green, OH | $269,755,787 | $28,051,237 |
Ball State University Foundation Muncie, IN | $262,845,495 | $25,627,270 |
The University Of Toledo Foundation Toledo, OH | $690,162,176 | $41,543,760 |
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |