Somerset Club Inc
- Assets
- $86.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Racine, WI
- Founding
- 00/0000
- Data as of
- 04/2024
- EIN
- 39-1168207
Organization Overview
Somerset Club Inc is located in Racine, WI. The organization was established in 0000. 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. Somerset Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 04/2024, Somerset Club Inc generated $176.1k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $190.9k during the year ending 04/2024. 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
2024
Describe the Organization's Program Activity:
Part 3
ALL INCOME OF $176,060. WAS COLLECTED FROM MEMBERS. ALL OF WHICH WAS USED TO PRODUCE ACTIVITIES FOR THE PLEASURE AND RECREATION OF CLUB MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
We Korndoerfer President | 5 | $0 | |
Ss Larsen Vice President | 5 | $0 | |
Rc Weyers Secretary/treasurer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $66,287 |
| Membership dues | $100,175 |
| Investment income | $263 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $9,335 |
| Total Revenue | $176,060 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $70,548 |
| Professional fees and other payments to independent contractors | $16,800 |
| Occupancy, rent, utilities, and maintenance | $33,600 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $69,948 |
| Total expenses | $190,896 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $72,988 |
| Other assets | $0 |
| Total assets | $86,348 |
| Total liabilities | $941 |
| Net assets or fund balances | $85,407 |