Dallas Petroleum Club
- Assets
- $6.4m
- Revenue
- $6.1m
- Investments
- $186.8k
- Employees
- 84
- Location
- Dallas, TX
- Founding
- 05/1936
- Data as of
- 10/2020
- EIN
- 75-0224622
Organization Overview
Dallas Petroleum Club is located in Dallas, TX. The organization was established in 1936. 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 10/2020, Dallas Petroleum Club employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dallas Petroleum Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 10/2020, Dallas Petroleum Club generated $6.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $7.2m during the year ending 10/2020. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
SOCIAL CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRIVATE CLUB: PRIMARILY PROVIDING FOOD AND BEVERAGE SERVICE TO MEMBERS FOR BUSINESS AND SOCIAL PURPOSES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Parchment General Manager | Officer | 40 | $471,723 |
Masoud Farzad Club House Manager | 40 | $187,346 | |
Catarina Cejudo Director Of Accounting | 40 | $176,770 | |
Jesus Campos Executive Chef | 40 | $153,629 | |
Barbara Johnston Membership Director | 40 | $148,808 | |
Jon L Glass President | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $61,436 |
| 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 | $948,195 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,134,462 |
| Statement of Expenses | |
|---|---|
| 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. | $903,523 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,579,459 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $902,739 |
| Payroll taxes | $232,628 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,201 |
| 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 | $613,660 |
| 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 | $208,210 |
| Insurance | $120,317 |
| All other expenses | $0 |
| Total functional expenses | $7,161,105 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $163,969 |
| Savings and temporary cash investments | $3,082,591 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $452,003 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $296,753 |
| Prepaid expenses and deferred charges | $208,447 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $186,769 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $261,393 |
| Total assets | $6,437,336 |
| Accounts payable and accrued expenses | $203,534 |
| Grants payable | $0 |
| Deferred revenue | $286,084 |
| 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 | $39,885 |
| Total liabilities | $529,503 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $5,907,833 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Shady Oaks Country Club Inc Fort Worth, TX | $32,968,656 | $15,253,565 |
Midland Country Club Midland, TX | $28,175,865 | $15,973,291 |
Green Tree Country Club Midland, TX | $24,557,107 | $12,993,458 |
Dngc Member Club Inc Dallas, TX | $29,289,418 | $12,348,181 |
Unity One Credit Union Fort Worth, TX | $307,107,463 | $12,194,283 |
Baton Rouge Country Club Inc Baton Rouge, LA | $28,846,628 | $10,362,184 |
Brae Burn Country Club Houston, TX | $18,876,104 | $6,861,464 |
Mira Vista Country Club Fort Worth, TX | $16,102,268 | $9,038,386 |
Dallas Petroleum Club Dallas, TX | $6,437,336 | $6,134,462 |
Krewe Of Bacchus Inc New Orleans, LA | $5,050,746 | $6,016,204 |
Westwood Country Club Inc Houston, TX | $8,686,172 | $4,577,698 |
American Mensa Ltd Hurst, TX | $11,710,635 | $4,744,166 |