Petroleum Club Of Olney
- Assets
- $11.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 10
- Location
- Olney, IL
- Founding
- 05/1956
- Data as of
- 06/2023
- EIN
- 37-0721628
Organization Overview
Petroleum Club Of Olney is located in Olney, IL. The organization was established in 1956. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 06/2023, Petroleum Club Of Olney employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Petroleum Club Of Olney is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2023, Petroleum Club Of Olney generated $44.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (12.0%) each year. All expenses for the organization totaled $71.5k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (6.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
COLLEGE SCHOLARSHIPS FOR STUDENTS AND OTHER COMMUNITY ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Ritter President | 0 | $0 | |
David Smith Secretary | 0 | $0 | |
Scott Jones Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,189 |
| Total Program Service Revenue | $0 |
| Membership dues | $8,715 |
| Investment income | $90 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $8,731 |
| Other Revenue | $0 |
| Total Revenue | $44,152 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $43,811 |
| Professional fees and other payments to independent contractors | $820 |
| Occupancy, rent, utilities, and maintenance | $10,684 |
| Printing, publications, postage, and shipping | $21 |
| Other expenses | $16,116 |
| Total expenses | $71,452 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $6,593 |
| Other assets | $0 |
| Total assets | $11,283 |
| Total liabilities | $760 |
| Net assets or fund balances | $10,523 |