Lotos Club Inc
- Assets
- $16.5m
- Revenue
- $7.2m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 02/1942
- Data as of
- 06/2023
- EIN
- 13-0984890
Organization Overview
Lotos Club Inc is located in New York, 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lotos 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 06/2023, Lotos Club Inc generated $7.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $7.6m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND DEVELOP LITERATURE, ART, SCULPTURE, MUSIC, ARCHITECTURE, JOURNALISM, EDUCATION, AND THE LEARNED PROFESSIONALS AMONG ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Sussek III President | OfficerTrustee | 2 | $0 |
Alice M Greenwald First Vice President | OfficerTrustee | 2 | $0 |
Michael J Carlton Second Vice President | OfficerTrustee | 2 | $0 |
Phyllis Z Ginstling Treasurer | OfficerTrustee | 2 | $0 |
Steven E North Secretary | OfficerTrustee | 2 | $0 |
Chrisopher M Laico Director | Trustee | 2 | $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 | $20,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,000 |
| Total Program Service Revenue | $2,939,444 |
| Investment income | $206,962 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $205,000 |
| Net Gain/Loss on Asset Sales | $14,659 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,776,539 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,162,604 |
| 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. | $264,075 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,350,501 |
| Pension plan accruals and contributions | $247,932 |
| Other employee benefits | $1,265,969 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,150 |
| Fees for services: Accounting | $30,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $56,734 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $404,941 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $455,324 |
| Travel | $1,965 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $187,630 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $324,882 |
| Insurance | $164,478 |
| All other expenses | $0 |
| Total functional expenses | $7,643,189 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$2,578 |
| Savings and temporary cash investments | $877,717 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,134,640 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $92,234 |
| Prepaid expenses and deferred charges | $66,175 |
| Net Land, buildings, and equipment | $5,150,405 |
| Investments—publicly traded securities | $8,391,286 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $770,139 |
| Total assets | $16,480,018 |
| Accounts payable and accrued expenses | $1,256,630 |
| Grants payable | $0 |
| Deferred revenue | $1,297,198 |
| 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 | $4,507,510 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,061,338 |
| Net assets without donor restrictions | $9,418,680 |
| 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 | $16,480,018 |