Chestnut Oaks Association
- Assets
- $254.7k
- Revenue
- $161.8k
- Investments
- $0.0
- Employees
- 33
- Location
- Richmond, VA
- Founding
- 11/1967
- Data as of
- 09/2023
- EIN
- 54-0737785
Organization Overview
Chestnut Oaks Association is located in Richmond, VA. The organization was established in 1967. According to its NTEE Classification (N30) the organization is classified as: Physical Fitness & Community Recreational Facilities, under the broad grouping of Recreation & Sports and related organizations. As of 09/2023, Chestnut Oaks Association employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chestnut Oaks Association 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, Chestnut Oaks Association generated $161.8k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $150.4k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SWIMMING AND TENNIS ACTIVITIES FOR THE BENEFIT OF THE MEMBERSHIP OF THE ORGANIZATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
SWIM TEAM ACTIVITY PROVIDED TO THE MEMBERS
CONCESSIONS PROVIDED TO MEMBERS
SOCIAL ACTIVITIES PROVIDED TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jaime Petrasek President, Website And Communication | Officer | 0.25 | $0 |
Marsha Altman Swim Team And Secretary | Officer | 0.25 | $0 |
Tom Foster Building And Grounds, Finance | Officer | 1 | $0 |
Kyle Blanford Building And Grounds | Officer | 1 | $0 |
Peter Catizone Building And Grounds | Officer | 1 | $0 |
Whitney Fogg Personnel | Officer | 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 | $151,191 |
| Investment income | $204 |
| 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 | $161,756 |
| 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 | $75,989 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,706 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,216 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,055 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $11,072 |
| All other expenses | $37,828 |
| Total functional expenses | $150,375 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,030 |
| Savings and temporary cash investments | $70,795 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $122,905 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $254,730 |
| Accounts payable and accrued expenses | -$45,652 |
| 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 | $74,085 |
| Other liabilities | $0 |
| Total liabilities | $28,433 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $109,845 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $116,452 |
| Total liabilities and net assets/fund balances | $254,730 |