Jersey Aero Club
- Assets
- $547.3k
- Revenue
- $422.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Farmingdale, NJ
- Founding
- 04/1940
- Data as of
- 12/2021
- EIN
- 21-0743749
Organization Overview
Jersey Aero Club is located in Farmingdale, NJ. The organization was established in 1940. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, 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. Jersey Aero 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, Jersey Aero Club generated $422.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $417.2k during the year ending 12/2021. While expenses have increased by 10.7% per year over the past 7 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
THE JERSEY AERO CLUB IS A NON-PROFIT ORGANIZATION FORMED AND OPERATED FOR THE PURPOSE OF PROVIDING A WAY OF FLYING QUALITY AIRCRAFT AS INEXPENSIVELY AS POSSIBLE FOR AS MANY PEOPLE AS POSSIBLE, AND THEREFORE TO AID IN FURTHERING GENERAL AVIATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A WAY OF FLYING QUALITY AIRCRAFT AS INEXPENSIVELY AS POSSIBLE FOR AS MANY PEOPLE AS POSSIBLE, AND THEREFORE TO AID IN FURTHERING GENERAL AVIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David M Williamson Treasurer | OfficerTrustee | 15 | $0 |
Jeffry Dubois President | OfficerTrustee | 10 | $0 |
John Impaglia Vice President | OfficerTrustee | 10 | $0 |
Phil Zollner Secretary | OfficerTrustee | 2 | $0 |
Alex Justo Director | Trustee | 1 | $0 |
Greg Valvo Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $128,659 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,351 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $140,010 |
| Total Program Service Revenue | $277,068 |
| 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 | $180 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $422,929 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $1,891 |
| Royalties | $0 |
| Occupancy | $18,638 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,204 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $63,127 |
| Insurance | $52,302 |
| All other expenses | $7,901 |
| Total functional expenses | $417,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,569 |
| Savings and temporary cash investments | $49,536 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,904 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,878 |
| Prepaid expenses and deferred charges | $76,215 |
| Net Land, buildings, and equipment | $406,153 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,050 |
| Total assets | $547,305 |
| Accounts payable and accrued expenses | $11,408 |
| Grants payable | $0 |
| Deferred revenue | $50,809 |
| 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 | $156,227 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,051 |
| Total liabilities | $221,495 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $108,039 |
| Paid-in or capital surplus, or land, building, or equipment fund | $79,453 |
| Retained earnings, endowment, accumulated income, or other funds | $138,318 |
| Total liabilities and net assets/fund balances | $547,305 |
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