Cloister Inn Of Princeton University
- Assets
- $444.0k
- Revenue
- $872.0k
- Investments
- $0.0
- Employees
- 14
- Location
- Princeton, NJ
- Founding
- 09/1942
- Data as of
- 06/2024
- 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 06/2024, Cloister Inn Of Princeton University employed 14 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 06/2024, Cloister Inn Of Princeton University generated $872.0k 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 (4.7%) each year. All expenses for the organization totaled $970.4k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (4.3%) 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
2024
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 |
|---|---|---|---|
Mike Jackman Chair | OfficerTrustee | 1 | $0 |
Jose Pincay-Delgado V. Chair Ope | OfficerTrustee | 1 | $0 |
Preston Granbery Chairlegal A | OfficerTrustee | 1 | $0 |
Caroline Mccarthy Chair Alumni | OfficerTrustee | 1 | $0 |
Lauren Sanchez Chairstudent | OfficerTrustee | 1 | $0 |
Matthew Drabick Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $213,274 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $110,618 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $323,892 |
| Total Program Service Revenue | $401,322 |
| Investment income | $5 |
| 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 | $67,047 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $872,045 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $86,744 |
| 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 | $350,173 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,498 |
| Payroll taxes | $47,527 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,395 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $65,459 |
| Advertising and promotion | $0 |
| Office expenses | $22,251 |
| Information technology | $3,786 |
| Royalties | $0 |
| Occupancy | $105,312 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,200 |
| Interest | $4,023 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,357 |
| Insurance | $40,712 |
| All other expenses | $33,428 |
| Total functional expenses | $970,399 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,650 |
| Savings and temporary cash investments | $8,656 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $103,550 |
| 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 | $29,677 |
| Net Land, buildings, and equipment | $291,291 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,199 |
| Total assets | $444,023 |
| Accounts payable and accrued expenses | $57,733 |
| Grants payable | $0 |
| Deferred revenue | $144,045 |
| 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 | $144,295 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,522 |
| Total liabilities | $356,595 |
| Net assets without donor restrictions | $87,428 |
| 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 | $444,023 |