Gloucester Fraternity Club Inc
- Assets
- $235.4k
- Revenue
- $548.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Gloucester, MA
- Founding
- 04/1975
- Data as of
- 12/2021
- EIN
- 04-6166376
Organization Overview
Gloucester Fraternity Club Inc is located in Gloucester, MA. The organization was established in 1975. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gloucester Fraternity Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Gloucester Fraternity Club Inc generated $548.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $573.0k during the year ending 12/2021. While expenses have increased by 12.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
A NEIGHBORHOOD SOCIAL CLUB THAT PROVIDES RECREATIONAL ACTIVITIES AND DINING TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Markuson Treasurer | Officer | 20 | $13,950 |
Arthur Frost President | Officer | 15 | $0 |
Ralph Pierce Clerk | Officer | 10 | $0 |
Christopher Silva Vice President | Officer | 10 | $0 |
Mario Brancaleone Director | Officer | 10 | $0 |
Stephen Goulart Director | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $6,512 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,512 |
| Total Program Service Revenue | $6,805 |
| Investment income | $101 |
| 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 | $548,233 |
| 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. | $88,550 |
| Compensation of current officers, directors, key employees. | $88,550 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $2,506 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $15,200 |
| All other expenses | $0 |
| Total functional expenses | $572,998 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,842 |
| Savings and temporary cash investments | $6,000 |
| 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 | $6,884 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $172,711 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $235,437 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $235,437 |
| 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 | $235,437 |
Peer Organizations
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|---|---|---|
Benevolent Fraternity Of Unitarian Church Roxbury, MA | $18,907,229 | $2,121,494 |
Akwesasne Boys & Girls Club St Regis Mohawk Tribe Akwesasne, NY | $980,425 | $1,776,234 |
Zeta Psi Fraternity Of North America Pearl River, NY | $650,645 | $844,211 |
Theta Chi Fraternity Inc Hamilton, NY | $187,643 | $1,010,005 |
Sigma Pi Fraternity International Inc Ithaca, NY | $1,758,643 | $749,851 |
Alpha Lambda Delta Fairport, NY | $5,719,443 | $1,145,562 |
Pi Lambda Phi Fraternity Inc Greenwich, CT | $1,029,582 | $859,864 |
Lambda Chi Alpha Fraternity Inc Ithaca, NY | $99,913 | $753,956 |
Sigma Delta Tau Society Syracuse, NY | $247,838 | $761,274 |
Alpha Epsilon Phi Sorority Inc Danbury, CT | $1,675,626 | $935,849 |
Zeta Phi Chapter House Corp Of Alpha Phi Intrnatl Frat Inc Boston, MA | $2,973,626 | $954,161 |
Alpha Beta Corporation Wakefield, RI | $2,169,290 | $616,339 |