Petroleum Club Of Houston
- Assets
- $5.1m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 48
- Location
- Houston, TX
- Founding
- 10/1963
- Data as of
- 03/2022
- EIN
- 74-1098713
Organization Overview
Petroleum Club Of Houston is located in Houston, TX. The organization was established in 1963. 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 03/2022, Petroleum Club Of Houston employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Petroleum Club Of Houston is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 03/2022, Petroleum Club Of Houston generated $3.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $4.0m during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (5.5%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
A PRIVATE CITY CLUB PROVIDING BENEFITS TO MEMBERS SUCH AS MEETINGS, BANQUETS, DINING AND SOCIALIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMPANY OPERATES A CLUB FOR THE BENEFIT OF MEMBERS, PROVIDING A FINE DINING FACILITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $293,784 |
| 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 | $293,784 |
| Total Program Service Revenue | $1,919,780 |
| 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 | $1,505,448 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,719,012 |
| 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. | $104,813 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,114,128 |
| Pension plan accruals and contributions | $9,337 |
| Other employee benefits | $144,645 |
| Payroll taxes | $107,175 |
| 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 | $429,119 |
| Advertising and promotion | $17,480 |
| Office expenses | $130,078 |
| Information technology | $39,723 |
| Royalties | $0 |
| Occupancy | $1,113,737 |
| Travel | $1,389 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,000 |
| Interest | $14,095 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $594,904 |
| Insurance | $53,716 |
| All other expenses | $27,373 |
| Total functional expenses | $4,049,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240,561 |
| Savings and temporary cash investments | $8,640 |
| Pledges and grants receivable | $2,000 |
| Accounts receivable, net | $821,672 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $40,479 |
| Prepaid expenses and deferred charges | $139,657 |
| Net Land, buildings, and equipment | $3,825,445 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,587 |
| Total assets | $5,088,041 |
| Accounts payable and accrued expenses | $1,771,045 |
| Grants payable | $0 |
| Deferred revenue | $377,141 |
| 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 | $1,022,417 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,037,597 |
| Total liabilities | $4,208,200 |
| 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 | $879,841 |
| Total liabilities and net assets/fund balances | $5,088,041 |
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