Cleveland Racquet Club Inc
- Assets
- $5.7m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 150
- Location
- Pepper Pike, OH
- Founding
- 09/1970
- Data as of
- 09/2023
- EIN
- 34-1037302
Organization Overview
Cleveland Racquet Club Inc is located in Pepper Pike, OH. The organization was established in 1970. 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 09/2023, Cleveland Racquet Club Inc employed 150 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cleveland Racquet Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 09/2023, Cleveland Racquet Club Inc generated $6.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $5.4m during the year ending 09/2023. While expenses have increased by 1.5% per year over the past 8 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
THE CLUB'S MAIN OBJECTIVE IS TO PROMOTE GREATER INTEREST IN RACQUET SPORTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING RACQUET SPORTS AND PROVIDING FAMILIES AND GUESTS WITH QUALITY FACILITIES FOR RACQUET BALL SPORTS AND FAMILY ENJOYMENT. AT SEPTEMBER 30, 2023, THE CLUB HAD 670 ACTIVE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Degrandis Treasurer | OfficerTrustee | 1 | $0 |
Jenny Peterman Trustee | Trustee | 1 | $0 |
Richard Goss Trustee | Trustee | 1 | $0 |
Dylan Schrode Trustee | Trustee | 1 | $0 |
Jenn Wrubel Trustee | Trustee | 1 | $0 |
Dave Wolfe Trustee | 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 | $6,051,798 |
| Investment income | $19,790 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$51,143 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $444,543 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,464,988 |
| 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. | $224,231 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,186,094 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $98,345 |
| Advertising and promotion | $0 |
| Office expenses | $115,855 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $370,580 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $74,825 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $342,141 |
| Insurance | $289,727 |
| All other expenses | $0 |
| Total functional expenses | $5,441,708 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,183,367 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $227,825 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $77,594 |
| Prepaid expenses and deferred charges | $25,675 |
| Net Land, buildings, and equipment | $4,023,277 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $204,558 |
| Total assets | $5,742,296 |
| Accounts payable and accrued expenses | $534,703 |
| Grants payable | $0 |
| Deferred revenue | $5,159 |
| 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 | $1,844,554 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,384,416 |
| Net assets without donor restrictions | $3,357,880 |
| 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 | $5,742,296 |