Cloister Inn Of Princeton University
- Assets
- $900.9k
- Revenue
- $874.1k
- Investments
- $0.0
- Employees
- 16
- Location
- Princeton, NJ
- Founding
- 09/1942
- Data as of
- 06/2022
- EIN
- 21-0427400
Organization Overview
Cloister Inn Of Princeton University is located in Princeton, NJ. The organization was established in 1942. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Cloister Inn Of Princeton University employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cloister Inn Of Princeton University is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2022, Cloister Inn Of Princeton University generated $874.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CLOISTER INN, AS AN EATING CLUB, PROVIDES MEALS FOR STUDENTS AND ALUMNI OF PRINCETON UNIVERSITY, HOSTS SPECIAL EVENTS AND IS AVAILABLE FOR CATERING FUNCTIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLOISTER INN PROVIDES AN EATING CLUB EXPERIENCE FOR MEMBERS, ROOMS, PARKING, SOCIAL EVENTS, EDUCATIONAL ACTIVITIES AND RECREATIONAL FACILITIES.
CLOISTER PROVIDES SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glenn Gang General Mana | 40 | $108,400 | |
William Golden Secretary | OfficerTrustee | 2 | $0 |
Preston Granbery Treasurer | OfficerTrustee | 2 | $0 |
Jose Pincay-Delgado Chair | OfficerTrustee | 2 | $0 |
Aran Clair Trustee | Trustee | 1 | $0 |
Matthew Drabick Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $228,959 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $32,563 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $261,522 |
| Total Program Service Revenue | $504,390 |
| Investment income | $138 |
| 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 | $20,195 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $874,130 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,928 |
| 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 | $450,177 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,734 |
| Payroll taxes | $56,711 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,020 |
| Advertising and promotion | $0 |
| Office expenses | $10,717 |
| Information technology | $4,479 |
| Royalties | $0 |
| Occupancy | $90,520 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,126 |
| Interest | $6,875 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,285 |
| Insurance | $36,340 |
| All other expenses | $32,021 |
| Total functional expenses | $1,144,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $274,955 |
| Savings and temporary cash investments | $130,912 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $165,483 |
| 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 | $17,334 |
| Net Land, buildings, and equipment | $307,421 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,825 |
| Total assets | $900,930 |
| Accounts payable and accrued expenses | $19,856 |
| Grants payable | $0 |
| Deferred revenue | $184,300 |
| 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 | $201,534 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,226 |
| Total liabilities | $413,916 |
| Net assets without donor restrictions | $487,014 |
| 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 | $900,930 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cloister Inn Of Princeton University has recieved totaling $228,959.
| Awarding Organization | Amount |
|---|---|
Princeton Prospect Foundation Princeton, NJ PURPOSE: EDUCATIONAL PURPOSES & HISTORIC PRESERVATION | $228,959 |
Peer Organizations
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|---|---|---|
John A Coleman School Yonkers, NY | $5,649,439 | $19,245,814 |
Halo Network Inc Amityville, NY | $5,984,377 | $20,823,404 |
Ascend Learning Inc Brooklyn, NY | $10,949,837 | $20,246,927 |
Lindley Academy Charter School At Birney Philadelphia, PA | $8,724,796 | $15,521,412 |
Workforce Development Corp New York, NY | $20,852,099 | $12,566,315 |
International School Of Brooklyn Brooklyn, NY | $6,521,944 | $15,095,239 |
Watershed Agricultural Council Of The New York City Watersheds Inc Walton, NY | $8,601,609 | $14,819,769 |
Purpose Foundation Island Park, NY | $1,585,866 | $11,041,724 |
Tech Impact Philadelphia, PA | $10,895,345 | $15,289,025 |
Tikva Corp West Caldwell, NJ | $10,446,184 | $12,711,125 |
Stemcivics Inc Ewing Township, NJ | $5,738,931 | $13,034,787 |
Neighbours Inc Highland Park, NJ | $4,396,049 | $11,744,083 |