Portuguese American Athletic Club
- Assets
- $119.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 1
- Location
- Smithfield, RI
- Founding
- 01/2000
- Data as of
- 12/2020
- EIN
- 05-0201937
Organization Overview
Portuguese American Athletic Club is located in Smithfield, RI. The organization was established in 2000. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Portuguese American Athletic Club is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2020, Portuguese American Athletic Club generated $65.9k 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 (7.2%) each year. All expenses for the organization totaled $74.9k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (4.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3
PROCEEDS OF FUNDRAISERS AND DAILY ACTIVITIES ARE USED TO SUPPORT CHARITABLE AND YOUTH ATHLETIC ACTIVITIES
PROCEEDS OF FUNDRAISERS AND DAILY ACTIVITIES ARE USED TO SUPPORT CHARITABLE AND YOUTH ATHLETIC ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Silvestri President | 3 | $0 | |
Thomas Kennedy Treasurer | 3 | $0 | |
Matthew Allen Financial Secretary | 3 | $0 | |
Dominic Fiano Vice President | 3 | $0 | |
Robert Halbin Secretary | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $1,655 |
| Investment income | $1 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $5,930 |
| Other Revenue | $17,635 |
| Total Revenue | $65,944 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $5,600 |
| Professional fees and other payments to independent contractors | $1,500 |
| Occupancy, rent, utilities, and maintenance | $27,739 |
| Printing, publications, postage, and shipping | $55 |
| Other expenses | $36,359 |
| Total expenses | $74,903 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $14,542 |
| Other assets | $0 |
| Total assets | $119,822 |
| Total liabilities | $63,724 |
| Net assets or fund balances | $56,098 |
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