Civic Intelligence

Rit Campus Club Inc.

990 • Fiscal year 2016 • EIN 16-1201526

Jul 01, 2015 to Jun 30, 2016 • Filed on Mar 27, 2017

39 Lomb Memorial DriveRochester, NY 14623-5603

(585) 475-2383

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

100th percentile

30.92x

Higher debt load relative to assets than 100% of similar nonprofits.

2016 filings • NTEE B • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

73rd percentile

0.58x

Higher debt load relative to revenue than 73% of similar nonprofits.

2016 filings • NTEE B • $5M-$10M nonprofits • Source year 2016

Net Margin

17th percentile

-5.9%

Higher net margin than 17% of similar nonprofits.

2016 filings • NTEE B • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

79th percentile

$196,829

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2016 filings • NTEE B • $5M-$10M nonprofits • Source year 2016

Asset Growth

66th percentile

11%

Faster asset growth than 66% of similar nonprofits.

2016 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

61st percentile

8.5%

Faster revenue growth than 61% of similar nonprofits.

2016 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Up

$84,654

Up $8,721 (+11%) from 2015

Net Assets

Down

-$2,532,864

Down $268,299 (-12%) from 2015

Liabilities

Up

$2,617,518

Up $277,020 (+12%) from 2015

Revenue

Up

$4,537,756

Up $356,201 (+8.5%) from 2015

Expenses

Up

$4,806,055

Up $478,287 (+11%) from 2015

Net Income

Down

-$268,299

Down $122,086 (-83%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0-$5.0M-$10MAssets 2011: $64,000Liabilities 2011: $563,516Net Assets 2011: -$499,5162011Assets 2012: $68,269Liabilities 2012: $1,488,823Net Assets 2012: -$1,420,5542012Assets 2013: $64,900Liabilities 2013: $2,017,352Net Assets 2013: -$1,952,4522013Assets 2014: $65,834Liabilities 2014: $2,184,186Net Assets 2014: -$2,118,3522014Assets 2015: $75,933Liabilities 2015: $2,340,498Net Assets 2015: -$2,264,5652015Assets 2016: $84,654Liabilities 2016: $2,617,518Net Assets 2016: -$2,532,8642016Assets 2017: $79,309Liabilities 2017: $2,716,590Net Assets 2017: -$2,637,2812017Assets 2018: $228,613Liabilities 2018: $2,602,605Net Assets 2018: -$2,373,9922018Assets 2019: $169,510Liabilities 2019: $3,139,849Net Assets 2019: -$2,970,3392019Assets 2020: $86,700Liabilities 2020: $4,464,515Net Assets 2020: -$4,377,8152020Assets 2021: $114,967Liabilities 2021: $6,036,615Net Assets 2021: -$5,921,6482021Assets 2022: $100,296Liabilities 2022: $6,644,517Net Assets 2022: -$6,544,2212022Assets 2023: $121,641Liabilities 2023: $5,962,585Net Assets 2023: -$5,840,9442023

Highlighted filing

2016

Assets$84,654
Liabilities$2,617,518
Net Assets-$2,532,864

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $2,406,195Expenses 2011: $2,907,849Net Income 2011: -$501,6542011Revenue 2012: $2,961,225Expenses 2012: $3,882,263Net Income 2012: -$921,0382012Expenses 2013: $3,870,8912013Revenue 2014: $3,672,280Expenses 2014: $3,838,180Net Income 2014: -$165,9002014Revenue 2015: $4,181,555Expenses 2015: $4,327,768Net Income 2015: -$146,2132015Revenue 2016: $4,537,756Expenses 2016: $4,806,055Net Income 2016: -$268,2992016Revenue 2017: $4,658,847Expenses 2017: $4,763,264Net Income 2017: -$104,4172017Revenue 2018: $4,342,376Expenses 2018: $4,079,087Net Income 2018: $263,2892018Revenue 2019: $4,063,435Expenses 2019: $4,659,782Net Income 2019: -$596,3472019Revenue 2020: $2,955,840Expenses 2020: $4,363,316Net Income 2020: -$1,407,4762020Revenue 2021: $1,266,404Expenses 2021: $2,810,237Net Income 2021: -$1,543,8332021Revenue 2022: $1,977,130Expenses 2022: $2,599,703Net Income 2022: -$622,5732022Revenue 2023: $3,199,216Expenses 2023: $2,495,939Net Income 2023: $703,2772023

Highlighted filing

2016

Revenue$4,537,756
Expenses$4,806,055
Net Income-$268,299
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Mar 27, 2017
Return Version
2015v3.0
Gross Receipts
$6,368,765
Mission and Program Overview

Mission

Provide administrative services to rit relating to the administration and management of liquor licenses used on rit campus and at events sponsored by rit and its affiliates.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$60,003$75,215▲ $15,212
Cash and Non-Interest-Bearing Accounts$9,150$8,150▼ $1,000
Prepaid Expenses and Deferred Charges$2,084$0▼ $2,084
Accounts Receivable$4,696$1,289▼ $3,407
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities$0--
Investments Program Related$0--
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund-$0-
Rtn Earn Endowment Incm Other Fnds-$0-
Cap Stk Tr Prin Current Funds-$0-
Intangible Assets-$0-
Total Assets$75,933$84,654▲ $8,721
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$2,243,147$2,522,956▲ $279,809
Accounts Payable and Accrued Expenses$97,351$94,562▼ $2,789
Grants Payable-$0-
Mortgage Notes Payable Secured by Investment Property-$0-
Unsecured Notes Loans Payable-$0-
Deferred Revenue-$0-
Escrow Account Liability-$0-
Tax Exempt Bond Liabilities-$0-
Total Liabilities$2,340,498$2,617,518▲ $277,020
Net Assets / Fund Balance
Permanently Rstr Net Assets-$0-
Temporarily Rstr Net Assets-$0-
Unrestricted Net Assets$-2,264,565$-2,532,864▼ $268,299
Total Net Assets Fund Balance$-2,264,565$-2,532,864▼ $268,299
Total Liabilities and Net Assets / Fund Balance$75,933$84,654▲ $8,721
Compensation and Service Providers

Employees

NameTitleOtherTotal
-Treasurer$115,742$115,742
-Director$111,597$111,597
-Secretary$59,266$59,266

Board Members and Trustees

NameTitle
-President
-Former Director
Revenue and Support

Revenue Composition

Contributions and Grants
$25,024
Program Service Revenue
$19,906
Investment Income
$0
Other Revenue
$4,492,826
All Other Contributions
$25,024
Change in Net Assets
$-268,299

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Food Inventory1$25,024Market value
Total Noncash Contributions1$25,024-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,806,055
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$610,496--$610,496
Fees for Services Other$608,088$0$0$608,088
Office Expenses$218,327$10,530-$228,857
Royalties$83,866--$83,866
Other Expenses$36,952$40,746-$36,952
All Other Expenses$19,142$0$0$19,142
Insurance$10,591--$10,591
Information Technology$6,793--$6,793
Travel$1,237--$1,237
Total Functional Expenses$4,754,779$51,276$0$4,806,055
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Rochester Institute of Technology$2,522,956
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 13 WRITTEN WHISTLEBLOWER POLICY

Rochester institute of technology (rit), parent organization, performs the management and primary administrative functions for rit campus club inc. The members of rit campus club inc board of directors are employees of rit.

Form 990, Part VI, Line 14 WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY

Rochester institute of technology (rit), parent organization, performs the management and primary administrative functions for rit campus club inc.

Form 990, Part VI, Line 15 PROCESS USED TO ESTABLISH COMPENSATION

The board members of rit campus club inc are employees of rochester institute of technology (rit), parent organization. Rit campus club inc does not have employees or compensate its board members, parent organization performs the management and primary administrative functions for rit campus club inc.

Form 990, Part VI, Line 3 Delegation of management duties

Rochester institute of technology (rit), parent organization, performs the management and primary administrative functions for rit campus club inc. The members of rit campus club inc board of directors are employees of rit.

Form 990, Part VI, Line 11B Review of form 990 by governing body

Rochester institute of technology (rit), parent organization, prepared the form 990 and distributed it to all campus club board members and officers prior to submission.

Form 990, Part VI, Line 19 Required documents available to the public

The audited consolidated financial statements of rochester institute of technology (rit), parent organization, are available at the university's website at www.rit.edu. Other documents are available upon request.

Filing and Contact Details

Filer

Filer Name
RIT Campus Club Inc
EIN
16-1201526
Phone
5854752383
Address
39 Lomb Memorial Drive, Rochester, NY 14623-5603

Signing Officer

Name
Kory L Samuels
Title
President
Signed
2017-03-27

Organization Details

Formed
1968
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
0
Employees
0
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G Other Fees

Visiting Chefs - Total Expense: 566858, Program Service Expense: 566858, Management and General Expenses: , Fundraising Expenses: ; Temporary help/contract labor - Total Expense: 38769, Program Service Expense: 38769, Management and General Expenses: , Fundraising Expenses: ; Other - Total Expense: 2461, Program Service Expense: 2461, Management and General Expenses: , Fundraising Expenses: ;

Form 990, Part XII, Line 2C CONSOLIDATED FINANCIAL STATEMENTS

The financial statements of rit campus club inc are consolidated with the statements of position and activities of rochester institute of technology (rit), parent organization. The audit committee of rit has responsibility for oversight of the audit of the consolidated financial statements and the selection of an independent accountant.

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The Financial Statements of RIT Campus Club Inc are reported on a consolidated basis with its controlling organization, Rochester Institute of Technology (RIT or University). The University and its US subsidiaries, except for Venture Fund I, LLC (Fund I), are not-for-profit organizations, and generally exempt from income taxes on related income under Section 501(c)(3) of the IRC but are subject to unrelated business income tax on activities not related to their exempt purposes. Fund I, a limited liability company of which RIT is the investor member, is classified as a disregarded entity for federal income tax purposes. In June 2015, RIT Croatia was notified by the Croatian Ministry of Finance that it had been removed from its non-profit registry and is not subject to the assessment of Corporate Profit Tax in Croatia. The accounting for income taxes Topic of the FASB Accounting Standards Codification addresses the determination of whether certain tax positions result in benefits claimed or expected to be claimed on a tax return and whether they should be recorded in the Consolidated Financial Statements. For tax-exempt entities, tax positions include the entity's tax-exempt status and assumptions used to determine unrelated business taxable income. The University believes its tax positions meet the more-likely-than-not recognition threshold referenced in the Topic.

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IRS990/MissionDesc0PROVIDE ADMINISTRATIVE SERVICES TO RIT RELATING TO THE ADMINISTRATION AND MANAGEMENT OF LIQUOR LICENSES USED ON RIT CAMPUS AND AT EVENTS SPONSORED BY RIT AND ITS AFFILIATES.
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IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0160743140
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0ROCHESTER INSTITUTE OF TECHNOLOGY
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IRS990ScheduleA/SupportSumAmt00
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IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02522956
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO ROCHESTER INSTITUTE OF TECHNOLOGY
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Financial Statements of RIT Campus Club Inc are reported on a consolidated basis with its controlling organization, Rochester Institute of Technology (RIT or University). The University and its US subsidiaries, except for Venture Fund I, LLC (Fund I), are not-for-profit organizations, and generally exempt from income taxes on related income under Section 501(c)(3) of the IRC but are subject to unrelated business income tax on activities not related to their exempt purposes. Fund I, a limited liability company of which RIT is the investor member, is classified as a disregarded entity for federal income tax purposes. In June 2015, RIT Croatia was notified by the Croatian Ministry of Finance that it had been removed from its non-profit registry and is not subject to the assessment of Corporate Profit Tax in Croatia. The accounting for income taxes Topic of the FASB Accounting Standards Codification addresses the determination of whether certain tax positions result in benefits claimed or expected to be claimed on a tax return and whether they should be recorded in the Consolidated Financial Statements. For tax-exempt entities, tax positions include the entity's tax-exempt status and assumptions used to determine unrelated business taxable income. The University believes its tax positions meet the more-likely-than-not recognition threshold referenced in the Topic.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote
IRS990ScheduleD/TotalLiabilityAmt02522956
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$0.12$5.96$5.84$3.20$2.50$0.70
2022Summary only. Only limited summary data is available for this year.$0.10$6.64$6.54$1.98$2.60$0.62
2021Summary only. Only limited summary data is available for this year.$0.11$6.04$5.92$1.27$2.81$1.54
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.09$4.46$4.38$2.96$4.36$1.41
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.17$3.14$2.97$4.06$4.66$0.60
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.23$2.60$2.37$4.34$4.08$0.26
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.08$2.72$2.64$4.66$4.76$0.10
2016Detailed filing. Detailed filing data is available for this year.$0.08$2.62$2.53$4.54$4.81$0.27
2015Detailed filing. Detailed filing data is available for this year.$0.08$2.34$2.26$4.18$4.33$0.15
2014Detailed filing. Detailed filing data is available for this year.$0.07$2.18$2.12$3.67$3.84$0.17
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.06$2.02$1.95$3.87
2012Summary only. Only limited summary data is available for this year.$0.07$1.49$1.42$2.96$3.88$0.92
2011Summary only. Only limited summary data is available for this year.$0.06$0.56$0.50$2.41$2.91$0.50