Terrace Athletic Club Inc
- Assets
- $222.6k
- Revenue
- $124.6k
- Investments
- $188.3k
- Employees
- 0
- Location
- New Castle, DE
- Founding
- 07/1996
- Data as of
- 12/2019
- EIN
- 51-0351397
Organization Overview
Terrace Athletic Club Inc is located in New Castle, DE. The organization was established in 1996. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, 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. Terrace Athletic 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 12/2019, Terrace Athletic Club Inc generated $124.6k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $147.5k during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
SOCIAL CLUB, GATHERING PLACE FOR MEMBERS TO SOCIALIZE AND DONATE MONIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENT
UTILITIES
CLEANING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Zebrook President | Officer | 40 | $0 |
Chris Laverty Vice President | Officer | 15 | $0 |
Jeff Boyles Trustee | Officer | 10 | $0 |
Courtney Eaton Secretary | Officer | 10 | $0 |
Darlene Taylor Financial Secretary | Officer | 10 | $0 |
Jim Mccready Trustee | Officer | 10 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $6,329 |
| Investment income | $7,377 |
| 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 | $110,901 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $124,607 |
| 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 | $1,888 |
| Fees for services: Accounting | $2,700 |
| 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 | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $540 |
| Insurance | $0 |
| All other expenses | $59,910 |
| Total functional expenses | $147,454 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,728 |
| Savings and temporary cash investments | $18,695 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,650 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $269 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $188,279 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $222,621 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $3,753 |
| Total liabilities | $3,753 |
| Net assets without donor restrictions | $218,868 |
| 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 | $222,621 |
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Saucon Valley Country Club Bethlehem, PA | $67,852,931 | $24,203,066 |
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Rolling Rock Club Ligonier, PA | $40,965,761 | $18,300,601 |
The Ridgewood Country Club Paramus, NJ | $31,275,344 | $17,956,980 |