Liberty Inc
- Assets
- $298.1k
- Revenue
- $757.6k
- Investments
- $0.0
- Employees
- 16
- Location
- Roswell, NM
- Founding
- 04/2014
- Data as of
- 12/2022
- EIN
- 90-0939132
Organization Overview
Liberty Inc is located in Roswell, NM. The organization was established in 2014. 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 12/2022, Liberty Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Liberty Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Liberty Inc generated $757.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $894.3k during the year ending 12/2022. While expenses have increased by 7.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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 SOCIAL CLUB SUPPORTED BY MEMBERS PROMOTING PERFORMING ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ENTERTAINMENT AND SOCIAL ACTIVITIES FOR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josh Ragsdale President | OfficerTrustee | 20 | $35,093 |
Megan Ragsdale Vice President/secretary/treasurer | OfficerTrustee | 0 | $0 |
Janet Visser Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $35,115 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $14,705 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $54,820 |
| Total Program Service Revenue | $697,664 |
| Investment income | $5,092 |
| 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 | $757,576 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $200 |
| 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. | $35,093 |
| Compensation of current officers, directors, key employees. | $35,093 |
| Compensation to disqualified persons | $258,930 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $23,893 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $398 |
| Fees for services: Accounting | $14,695 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,254 |
| Advertising and promotion | $29,253 |
| Office expenses | $45,566 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $104,176 |
| Travel | $6,216 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,137 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,424 |
| Insurance | $21,792 |
| All other expenses | $1,545 |
| Total functional expenses | $894,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,574 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $225,882 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,500 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $12,108 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $298,064 |
| Accounts payable and accrued expenses | $0 |
| 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 | $326,000 |
| Other liabilities | $6,489 |
| Total liabilities | $332,489 |
| 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 | -$34,425 |
| Total liabilities and net assets/fund balances | $298,064 |