Aero Club Seven Inc
- Assets
- $151.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Crosslake, MN
- Founding
- Data as of
- 12/2023
- EIN
- 84-2737613
Organization Overview
Aero Club Seven Inc is located in Crosslake, MN. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aero Club Seven 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, Aero Club Seven Inc generated $65.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (11.0%) each year. All expenses for the organization totaled $47.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
THE CLUB SEEKS TO BE A NON-PROFIT, SOCIAL ORGANIZATION, ESTABLISHED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF ITS MEMBERS. FINANCIAL SUPPORT OF THE CLUB SHALL BE BY MEMBERSHIP FEES, DUES, AND ASSESSMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsay Balmer President | 1.25 | $0 | |
Victor Peterson Vice-President | 1.25 | $0 | |
Jon Fogarty Secretray | 1.25 | $0 | |
Matthew Balmer Treasurer | 1.25 | $0 | |
Reid Price Director | 1.25 | $0 | |
Scott Nickelson Director | 1.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $65,785 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $65,785 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $1,659 |
| Occupancy, rent, utilities, and maintenance | $27,132 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $18,245 |
| Total expenses | $47,036 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $2,704 |
| Other assets | $0 |
| Total assets | $151,934 |
| Total liabilities | $105,412 |
| Net assets or fund balances | $46,522 |