Petroleum Club Of Anchorage Inc
- Assets
- $396.0k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 28
- Location
- Anchorage, AK
- Founding
- 01/1960
- Data as of
- 09/2023
- EIN
- 92-6002189
Organization Overview
Petroleum Club Of Anchorage Inc is located in Anchorage, AK. The organization was established in 1960. 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 09/2023, Petroleum Club Of Anchorage Inc employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Petroleum Club Of Anchorage Inc 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, Petroleum Club Of Anchorage Inc generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $1.3m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 6 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 AID THE ASSOCIATION AND FELLOWSHIP OF MEN AND WOMEN CONNECTED WITH THE PETROLEUM INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLUB OPERATIONS - SPONSORS EVENTS AND ISSUES NEWLETTERS AMONG MEMBERS, WHICH PROMOTE A BETTER UNDERSTANDING OF THE OIL AND MINING INDUSTRIES IN ALASKA.
RESTAURANT OPERATIONS - THE RESTAURANT PROVIDES A MEETING PLACE TO SERVE THE RECREATIONAL, INTELLECTUAL AND SOCIAL NEEDS OF THE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jana Turvey Treasurer | OfficerTrustee | 2 | $0 |
Kathleen Redmond President | OfficerTrustee | 2 | $0 |
Liam Zsolt Vice President | OfficerTrustee | 2 | $0 |
Fred Miller Vice President | OfficerTrustee | 2 | $0 |
Tanguy Libbrecht Secretary | OfficerTrustee | 2 | $0 |
Chuck Heath Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $565,243 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,050 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $576,293 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,954 |
| 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 | $601,913 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,435,780 |
| 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. | $130,720 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $331,375 |
| Pension plan accruals and contributions | $4,643 |
| Other employee benefits | $13,431 |
| Payroll taxes | $59,757 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,058 |
| Advertising and promotion | $24,967 |
| Office expenses | $34,051 |
| Information technology | $33,616 |
| Royalties | $0 |
| Occupancy | $340,030 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,844 |
| Interest | $8,235 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,957 |
| Insurance | $22,736 |
| All other expenses | $11,687 |
| Total functional expenses | $1,340,118 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,753 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $142,280 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $56,326 |
| Prepaid expenses and deferred charges | $1,000 |
| Net Land, buildings, and equipment | $45,594 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $395,953 |
| Accounts payable and accrued expenses | $61,606 |
| 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 | $68,666 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $71,862 |
| Total liabilities | $202,134 |
| 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 | $193,819 |
| Total liabilities and net assets/fund balances | $395,953 |