Heights Casino Inc
- Assets
- $6.6m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 52
- Location
- Brooklyn, NY
- Founding
- 11/1942
- Data as of
- 08/2022
- EIN
- 11-0868220
Organization Overview
Heights Casino Inc is located in Brooklyn, NY. The organization was established in 1942. 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 08/2022, Heights Casino Inc employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heights Casino Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 08/2022, Heights Casino Inc generated $5.7m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $6.3m during the year ending 08/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CLUB PROVIDES TENNIS AND SQUASH FACILITIES FOR THE MEMBERS. IN ADDITION, THE CLUB MAINTAINS A CLUBHOUSE IN WHICH DINING FACILITIES ARE AVAILABLE FOR THE MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Watts President | OfficerTrustee | 3 | $0 |
Justin Lungstrum Vice President | OfficerTrustee | 3 | $0 |
Adrian Buzz Doherty Treasurer | OfficerTrustee | 3 | $0 |
Melissa Barnett Secretary | OfficerTrustee | 3 | $0 |
Diana Biagioli Governor | Trustee | 3 | $0 |
Robert Bob Whiteford Governor | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $2,160,706 |
| Investment income | $11 |
| 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 | $3,510,091 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,747,844 |
| 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. | $326,793 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,842,695 |
| Pension plan accruals and contributions | $41,784 |
| Other employee benefits | $298,196 |
| Payroll taxes | $249,851 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,548 |
| Fees for services: Accounting | $29,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $84,064 |
| Advertising and promotion | $0 |
| Office expenses | $405,551 |
| Information technology | $64,049 |
| Royalties | $0 |
| Occupancy | $470,438 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $67,967 |
| Interest | $4,443 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $560,138 |
| Insurance | $167,884 |
| All other expenses | $3,706 |
| Total functional expenses | $6,263,582 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,000 |
| Savings and temporary cash investments | $2,104,875 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,126,389 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $56,015 |
| Prepaid expenses and deferred charges | $124,493 |
| Net Land, buildings, and equipment | $3,140,263 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,000 |
| Total assets | $6,568,035 |
| Accounts payable and accrued expenses | $241,281 |
| Grants payable | $0 |
| Deferred revenue | $1,532,354 |
| 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 | $300,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $166,385 |
| Total liabilities | $2,240,020 |
| Net assets without donor restrictions | $4,328,015 |
| 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 | $6,568,035 |