Rowfant Club
- Assets
- $8.6m
- Revenue
- $288.5k
- Investments
- $0.0
- Employees
- 7
- Location
- Cleveland, OH
- Founding
- 02/1938
- Data as of
- 12/2022
- EIN
- 34-0789959
Organization Overview
Rowfant Club, operating under the name The Rowfant Club, is located in Cleveland, OH. The organization was established in 1938. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2022, Rowfant Club employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rowfant Club is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Rowfant Club generated $288.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (29.2%) each year. All expenses for the organization totaled $322.5k during the year ending 12/2022. 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
A BIBLIOPHILIC SOCIETY OF CLEVELAND DEDICATED TO THE LOVE OF BOOKS IN ALL THEIR CAPACITIES TO PLEASE THE MIND OF MAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ROWFANT CLUB CONSISTS OF 154 MEMBERS LOCATED AROUND THE COUNTRY. MEMBERS WERE SLOW TO RETURN TO IN-PERSON EVENTS DURING THE FIRST HALF OF 2022, ZOOM BROADCASTS WERE A POPULAR WAY TO STAY ENGAGED AND CONTINUE TO LEARN WITH OTHER MEMBERS OF THE CLUB. THE ABILITY TO OFFER VIRTUAL PROGRAMMING ENABLED MEMBERS OUTSIDE OF CLEVELAND TO PARTICIPATE ON A REGULAR BASIS. A CONCERTED EFFORT WAS MADE DURING THE SUMMER OF 2022 TO ENCOURAGE MEMBERS TO RETURN TO EVENTS AT THE CLUB IN THE FALL, AND IN- PERSON ATTENDANCE INCREASED SIGNIFICANTLY DURING THE SECOND HALF OF THE YEAR.
BOARD MEMBERS CONTINUED TO ALLOCATE FUNDS TO PURCHASE NEW BOOKS FOR THE LIBRARY AND ALSO CONTINUE WITH A HIRED CATALOGER TO DOCUMENT THE UNIQUE LISTING OF BOOKS FOUND IN THE CLUB'S LIBRARY. THE LIBRARY IS A DEMONSTRATION OF THE CLUB'S LONGSTANDING COMMITMENT TO ACQUIRING AND PRESERVING HISTORICAL BOOKS FOR ITS MEMBERSHIP. THE CLUB'S BOOK COLLECTION ALSO WENT LIVE DURING 2022 ON WORLD CAT- THE WORLD'S LARGEST LIBRARY CATALOG, HELPING SCHOLARS AND USERS WORLDWIDE TO FIND OUR HOLDINGS ONLINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas M Bunker President | OfficerTrustee | 10 | $0 |
M Neal Rains Vice Preside | OfficerTrustee | 10 | $0 |
Stephen J Roberts Treasurer | OfficerTrustee | 20 | $0 |
J Peter Wentz Secretary | OfficerTrustee | 4 | $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 | $31,978 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,978 |
| Total Program Service Revenue | $124,456 |
| Investment income | $42,799 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $87,233 |
| Net Income from Fundraising Events | $2,000 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $288,485 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $500 |
| 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 | $38,272 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,834 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,807 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,307 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $700 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $97,313 |
| Travel | $14 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,325 |
| Insurance | $28,909 |
| All other expenses | $10,676 |
| Total functional expenses | $322,532 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,422 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,255 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $174 |
| Prepaid expenses and deferred charges | $11,885 |
| Net Land, buildings, and equipment | $3,225,921 |
| Investments—publicly traded securities | $2,886,478 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,454,510 |
| Total assets | $8,637,645 |
| Accounts payable and accrued expenses | $3,249 |
| Grants payable | $0 |
| Deferred revenue | $37,600 |
| 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 | $40,849 |
| Net assets without donor restrictions | $5,678,905 |
| Net assets with donor restrictions | $2,917,891 |
| 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 | $8,637,645 |