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Nonprofiteer
← AMERICAN FINNISH COMMUNITY CLUB INC

Form 990 for tax year 2022

Filed by AMERICAN FINNISH COMMUNITY CLUB INC.

Totals

Total revenue
$1,604,182
Total expenses
$69,108
Contributions and grants received
$6,018
Grants paid
$0
Program service revenue
$0
Investment income
$1,526,716
Other revenue
$71,448
Total assets, end of year
$1,667,135
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,667,135
Program services expenses (Part IX)
$768
Management and general expenses
$68,340
Fundraising expenses
$0
Program service expenses (Part III)
$768

Program services were 1.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $50

  • 1c · Fundraising events

    $4,728

  • 1f · All other contributions, gifts and grants

    $1,240

  • 3 · Investment income

    total $936 · related or exempt $936

  • 6a · Gross rents

    real property $101,185

  • 6b · Less rental expenses

    real property $29,737

  • 6c · Rental income or loss

    real property $71,448

  • 6d · Net rental income or loss

    total $71,448 · related or exempt $71,448

  • 7a · Gross sales of assets other than inventory

    securities $1,750,000 · other assets $7,053

  • 7b · Less cost or other basis and sales expenses

    securities $219,405 · other assets $11,868

  • 7c · Gain or loss

    securities $1,530,595 · other assets -$4,815

  • 7d · Net gain or loss

    total $1,525,780 · related or exempt -$4,815 · excluded $1,530,595

  • 8a · Fundraising events: contributions included on line 1c

    $4,728

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $1,100 · management and general $1,100

  • 12 · Advertising and promotion

    total $835 · program services $135 · management and general $700

  • 13 · Office expenses

    total $1,444 · management and general $1,444

  • 16 · Occupancy

    total $40,775 · program services $233 · management and general $40,542

  • 20 · Interest

    total $2,215 · management and general $2,215

  • 23 · Insurance

    total $14,875 · program services $400 · management and general $14,475

  • 24a · Other expenses: Real Estate Taxes

    total $413 · management and general $413

  • 24b · Other expenses: Other Taxes & Fees

    total $111 · management and general $111

  • 24c · Other expenses: Contributions

    total $7,340 · management and general $7,340

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $33,895 · end of year $10,473

  • 2 · Savings and temporary cash investments

    beginning of year $49,187 · end of year $1,656,662

  • 10c · Land, buildings and equipment, net

    beginning of year $85,310

  • 15 · Other assets

    beginning of year $7,316

  • 23 · Secured mortgages and notes payable

    beginning of year $30,000

  • 25 · Other liabilities

    beginning of year $13,647

  • 27 · Net assets without donor restrictions

    beginning of year $132,061 · end of year $1,667,135

Mission and programs · 2022

Mission

Showcase Finnish culture and preserve the heritage by providing activities and dinners that feature traditional Finnish foods and music.

  • Celebrate Finnish Cultural holidays and invite public to participate -- Finnish Independence Day

    Expenses $373 · Revenue $530

  • Showcase Finnish culture by holding lunches and/or dinners with traditional food, music and dances.

    Expenses $295 · Revenue $350

  • Provide Finnish Cultural venue for use by local Finnish community -- allowed the Midsummer Night Festival to be held at our facility

    Expenses $100 · Revenue $300

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Barry Heiniluoma

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Tuula Rajasaari

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    15

  • Kaarlo Kalervo

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Eva Repo

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Sal Perna

    ALTERNATE BOARD MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Kari Repo

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Kaija Kalervo

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • John Aho

    TREASURER

    Total calculated
    $0
    Hours/week
    20

  • Janet Aho

    SECRETARY

    Total calculated
    $0
    Hours/week
    10

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

  • No recipient named

    $1,750,000

    Disposition · Building and land · Dec 19, 2022

Provenance

Return type
form_990
Tax year
2022
Filed
8 May 2023
IRS schema version
2022v5.0
Source object
202311359349301306

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