Minneapolis Club Inc
- Assets
- $11.5m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 104
- Location
- Minneapolis, MN
- Founding
- 09/1934
- Data as of
- 12/2023
- EIN
- 41-0414540
Organization Overview
Minneapolis Club Inc is located in Minneapolis, MN. The organization was established in 1934. 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 12/2023, Minneapolis Club Inc employed 104 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minneapolis 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 12/2023, Minneapolis Club Inc generated $3.9m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $5.4m during the year ending 12/2023. 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 MINNEAPOLIS CLUB PROVIDES PLEASURE AND RECREATIONAL FACILITIES AND SERVICES TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MINNEAPOLIS CLUB PROVIDES SERVICES TYPICAL OF A SOCIAL AND RECREATION CLUB TO ITS MEMBERS, INCLUDING MEMBER DINING, CONCIERGE SERVICES, A BUSINESS CENTER, A FITNESS CENTER, GOLF PRIVILEGES AND RECIPROCITY WITH OTHER SOCIAL CLUBS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Kent President | OfficerTrustee | 5 | $0 |
Joseph Puishys Past President | OfficerTrustee | 5 | $0 |
Hudie Broughton Vice President | OfficerTrustee | 5 | $0 |
Daniel Farley Treasurer | OfficerTrustee | 5 | $0 |
Kate Gillette Secretary | OfficerTrustee | 5 | $0 |
Aram Desteian Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lucky Club Entertainment Llc Entertainment | 12/30/22 | $285,000 |
Kraft Mechanical Llc Building Mechanical Systems | 12/30/22 | $107,927 |
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 | $2,799,049 |
| Investment income | $0 |
| 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 | $1,073,538 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,892,073 |
| 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. | $296,360 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $901,051 |
| Pension plan accruals and contributions | $13,805 |
| Other employee benefits | $90,162 |
| Payroll taxes | $101,173 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $632 |
| Fees for services: Accounting | $324,110 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $517,213 |
| Advertising and promotion | $13,064 |
| Office expenses | $122,041 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,005,052 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $182,582 |
| Interest | $199,200 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,123,170 |
| Insurance | $124,525 |
| All other expenses | $15,745 |
| Total functional expenses | $5,378,174 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$383,537 |
| Savings and temporary cash investments | $918,528 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $745,143 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $111,803 |
| Prepaid expenses and deferred charges | $77,132 |
| Net Land, buildings, and equipment | $9,994,149 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,463,218 |
| Accounts payable and accrued expenses | $1,095,236 |
| Grants payable | $0 |
| Deferred revenue | $51,000 |
| 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 | $5,449,345 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $177,508 |
| Total liabilities | $6,773,089 |
| Net assets without donor restrictions | $0 |
| 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 | $4,690,129 |
| Total liabilities and net assets/fund balances | $11,463,218 |