Canonsburg Corporation
- Assets
- $6.8m
- Revenue
- $996.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Los Angeles, CA
- Founding
- 05/2008
- Data as of
- 06/2023
- EIN
- 95-6059240
Organization Overview
Canonsburg Corporation is located in Los Angeles, CA. The organization was established in 2008. 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 06/2023, Canonsburg Corporation employed 2 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Canonsburg Corporation is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2023, Canonsburg Corporation generated $996.9k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $967.5k during the year ending 06/2023. 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
HOLDING TITLE TO LOCAL CHAPTER OF NATIONAL COLLEGE FRATERNITY PROVIDING ROOM AND BOARD FOR MEMBERS ONLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY EXPENSES
NON-PROPERTY EXPENSES
DEPRECIATION EXPENSE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lloyd Talbert President | Officer | 2 | $0 |
Lewis Averill Treasurer | Officer | 2 | $0 |
Louis Raymond Secretary | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $944,606 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $945,906 |
| Total Program Service Revenue | $0 |
| Investment income | $19,184 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $31,822 |
| 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 | $996,912 |
| 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 | $90,036 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $95 |
| Payroll taxes | $8,281 |
| Fees for services: Management | $15,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,678 |
| Advertising and promotion | $0 |
| Office expenses | $1,610 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $185,897 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $205,004 |
| Payments to affiliates | $191,129 |
| Depreciation, depletion, and amortization | $192,382 |
| Insurance | $34,455 |
| All other expenses | $6,369 |
| Total functional expenses | $967,486 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $202,374 |
| Savings and temporary cash investments | $97,369 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $134,252 |
| 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 | $85,161 |
| Net Land, buildings, and equipment | $5,700,320 |
| Investments—publicly traded securities | $275,000 |
| Investments—other securities | $0 |
| Investments—program-related | $300,000 |
| Intangible assets | $0 |
| Other assets | $642 |
| Total assets | $6,795,118 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $155,266 |
| 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 | $3,682,233 |
| Unsecured mortgages and notes payable | $147,907 |
| Other liabilities | $116,042 |
| Total liabilities | $4,101,448 |
| 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 | $2,693,670 |
| Total liabilities and net assets/fund balances | $6,795,118 |