Norse Hall Association Inc
- Assets
- $234.3k
- Revenue
- $88.1k
- Investments
- $0.0
- Employees
- 5
- Location
- Portland, OR
- Founding
- 10/1940
- Data as of
- 12/2021
- EIN
- 93-0237487
Organization Overview
Norse Hall Association Inc is located in Portland, OR. The organization was established in 1940. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Norse Hall Association Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norse Hall Association Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2021, Norse Hall Association Inc generated $88.1k 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 (8.0%) each year. All expenses for the organization totaled $83.6k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MAINTAIN & OPERATE HISTORIC BUILDING
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED BUILDING SPACE TO SONS OF NORWAY MEMBERSHIP FOR THE YEAR TO HOLD THEIR FRATERNAL AND SOCIAL ACTIVITIES. MEMBERSHIP IS APPROXIMATELY 575 PEOPLE OF SCANDINAVIAN DESCENT OR INTEREST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Graalum Vice President | OfficerTrustee | 1 | $0 |
Sherry Stratton Secretary | OfficerTrustee | 8 | $0 |
Tom Hoffman President | OfficerTrustee | 4 | $0 |
Darrel King Treasurer | OfficerTrustee | 6 | $0 |
Mikal Apenes Director | Trustee | 6 | $0 |
Tim Anderson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $15,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $49,505 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $64,505 |
| Total Program Service Revenue | $23,610 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $88,115 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,644 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,259 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $575 |
| 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 | $7,405 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,949 |
| 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 | $0 |
| Insurance | $14,253 |
| All other expenses | $0 |
| Total functional expenses | $83,590 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,689 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $212,570 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $234,259 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $2,400 |
| 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 | $3,750 |
| Total liabilities | $6,150 |
| Net assets without donor restrictions | $228,109 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $234,259 |
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