Lake Erie Cooperative Society Of Lackawanna Ny Inc
- Assets
- $384.0k
- Revenue
- $175.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Lackawanna, NY
- Founding
- Data as of
- 12/2021
- EIN
- 16-1199367
Organization Overview
Lake Erie Cooperative Society Of Lackawanna Ny Inc, operating under the name Lake Erie Italian Club, is located in Lackawanna, NY. As of 12/2021, Lake Erie Italian Club employed 2 individuals. Lake Erie Italian Club 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, Lake Erie Italian Club generated $175.5k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $111.0k during the year ending 12/2021. While expenses have increased by 6.9% per year over the past 3 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
TO FOSTER FRATERNALISM AND ETHNIC IDENTITY AMONG CLUB MEMBERS, TO ENCOURAGE, TO PROMOTE THE INTERESTS OF CLUB MEMBERS AND GOOD CHARITABLE CITIZENSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP ORGANIZATION ENCOURAGING FRATERNITY AMONG CLUB MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Schiavi Sargent At Arm | Officer | 3 | $0 |
Diego Sirianni President | Officer | 4 | $0 |
Chris Trotta Treasurer | Officer | 8 | $0 |
Phillip Fanone Recording Sec | Officer | 6 | $0 |
James Demarco Vice President | Officer | 3 | $0 |
Joseph Cino Sr Board Chair | Officer | 9 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,400 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,500 |
| 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 | $12,900 |
| Total Program Service Revenue | $36,096 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $353 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $126,041 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $175,542 |
| 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 | $9,600 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,042 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $119 |
| Advertising and promotion | $0 |
| Office expenses | $439 |
| 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 | $16 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,503 |
| Insurance | $13,398 |
| All other expenses | $0 |
| Total functional expenses | $110,987 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $184,174 |
| Savings and temporary cash investments | $16,420 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $183,449 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $384,043 |
| Accounts payable and accrued expenses | $4,819 |
| 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 | $4,819 |
| Net assets without donor restrictions | $379,224 |
| 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 | $384,043 |
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