Dallas Petroleum Club
- Assets
- $6.7m
- Revenue
- $6.7m
- Investments
- $213.1k
- Employees
- 70
- Location
- Dallas, TX
- Founding
- 05/1936
- Data as of
- 10/2023
- EIN
- 75-0224622
Organization Overview
Dallas Petroleum Club is located in Dallas, TX. The organization was established in 1936. 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 10/2023, Dallas Petroleum Club employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dallas Petroleum Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 10/2023, Dallas Petroleum Club generated $6.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $6.5m during the year ending 10/2023. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 8 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
SOCIAL CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRIVATE CLUB: PRIMARILY PROVIDING FOOD AND BEVERAGE SERVICE TO MEMBERS FOR BUSINESS AND SOCIAL PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John A Clark Secretary | OfficerTrustee | 0 | $0 |
Jon Dormer Director | Trustee | 0 | $0 |
Ch Rees III President | OfficerTrustee | 0 | $0 |
J Holt Foster III Director | Trustee | 0 | $0 |
Jimmy Crain Director | Trustee | 0 | $0 |
Thomas W Lett Jr Director | Trustee | 0 | $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 | $5,119,417 |
| Investment income | $39,541 |
| 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 | $1,429,419 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,669,190 |
| 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. | $1,075,460 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,944,950 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $474,168 |
| Payroll taxes | $270,549 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $137,477 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $690,075 |
| 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 | $211,745 |
| Insurance | $89,678 |
| All other expenses | $453,805 |
| Total functional expenses | $6,536,802 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $291,751 |
| Savings and temporary cash investments | $1,153,991 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $827,525 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $252,280 |
| Prepaid expenses and deferred charges | $312,786 |
| Net Land, buildings, and equipment | $3,608,094 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $213,134 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,287 |
| Total assets | $6,664,848 |
| Accounts payable and accrued expenses | $595,629 |
| Grants payable | $0 |
| Deferred revenue | $255,935 |
| 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 | $35,573 |
| Total liabilities | $887,137 |
| 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 | $5,777,711 |
| Total liabilities and net assets/fund balances | $6,664,848 |