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Nonprofiteer
← CLOISTER INN OF PRINCETON UNIVERSITY

Form 990 for tax year 2023

Filed by CLOISTER INN OF PRINCETON UNIVERSITY.

Totals

Total revenue
$872,045
Total expenses
$970,399
Contributions and grants received
$323,892
Grants paid
$86,744
Program service revenue
$401,322
Investment income
$5
Other revenue
$146,826
Total assets, end of year
$444,023
Total liabilities, end of year
$356,595
Net assets or fund balances, end of year
$87,428
Program services expenses (Part IX)
$846,238
Management and general expenses
$68,509
Fundraising expenses
$55,652
Program service expenses (Part III)
$846,238

Program services were 87.2% 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.

  • 1d · Related organizations

    $213,274

  • 1f · All other contributions, gifts and grants

    $110,618

  • 2a · Program service revenue: BOARD FEES

    total $340,570 · related or exempt $340,570

  • 2b · Program service revenue: HOUSE FEES

    total $55,670 · related or exempt $55,670

  • 2c · Program service revenue: ALUMIN DUES

    total $5,082 · related or exempt $5,082

  • 3 · Investment income

    total $5 · unrelated business $5

  • 10a · Gross sales of inventory

    $90,766

  • 10b · Cost of goods sold

    $23,719

  • 10c · Net income from sales of inventory

    total $67,047 · unrelated business $67,047

  • 11a · Other revenue: SOCIAL FUND

    total $32,283 · related or exempt $32,283

  • 11b · Other revenue: LODGING

    total $30,600 · related or exempt $30,600

  • 11c · Other revenue: PARKING

    total $10,875 · related or exempt $10,875

  • 11d · All other revenue

    total $6,021 · related or exempt $6,021

  • 11e · Other revenue, total

    $79,779

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $86,744 · program services $86,744

  • 7 · Other salaries and wages

    total $350,173 · program services $313,177 · management and general $18,498 · fundraising $18,498

  • 9 · Other employee benefits

    total $5,498 · program services $5,498

  • 10 · Payroll taxes

    total $47,527 · program services $42,299 · management and general $2,376 · fundraising $2,852

  • 11c · Fees: accounting

    total $30,395 · management and general $30,395

  • 11g · Fees: other

    total $65,459 · program services $54,852 · management and general $5,319 · fundraising $5,288

  • 13 · Office expenses

    total $22,251 · program services $5,595 · management and general $3,968 · fundraising $12,688

  • 14 · Information technology

    total $3,786 · fundraising $3,786

  • 16 · Occupancy

    total $105,312 · program services $105,312

  • 19 · Conferences, conventions and meetings

    total $14,200 · program services $14,200

  • 20 · Interest

    total $4,023 · program services $4,023

  • 22 · Depreciation, depletion and amortization

    total $16,357 · program services $16,357

  • 23 · Insurance

    total $40,712 · program services $40,712

  • 24a · Other expenses: FOOD & BEVERAGE JR & SR

    total $88,963 · program services $88,963

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $22,294 · program services $22,294

  • 24c · Other expenses: KITCHEN SUPPLIES

    total $19,273 · program services $19,273

  • 24d · Other expenses: FIRE SAFETY

    total $14,004 · program services $14,004

  • 24e · All other expenses

    total $33,428 · program services $12,935 · management and general $7,953 · fundraising $12,540

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $76,477 · end of year $9,650

  • 2 · Savings and temporary cash investments

    beginning of year $7,752 · end of year $8,656

  • 4 · Accounts receivable

    beginning of year $181,350 · end of year $103,550

  • 9 · Prepaid expenses and deferred charges

    beginning of year $28,642 · end of year $29,677

  • 10a · Land, buildings and equipment: cost or other basis

    $1,243,535

  • 10b · Land, buildings and equipment: accumulated depreciation

    $952,244

  • 10c · Land, buildings and equipment, net

    beginning of year $293,047 · end of year $291,291

  • 15 · Other assets

    end of year $1,199

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,957 · end of year $57,733

  • 19 · Deferred revenue

    beginning of year $223,270 · end of year $144,045

  • 23 · Secured mortgages and notes payable

    beginning of year $147,964 · end of year $144,295

  • 25 · Other liabilities

    beginning of year $5,296 · end of year $10,522

  • 27 · Net assets without donor restrictions

    beginning of year $185,781 · end of year $87,428

Mission and programs · 2023

Mission

FOUNDED IN 1912, CLOISTER INN FOSTERS AN ENTREPRENEURIAL SPIRIT, AND INSPIRES MEMBERS TO USE THE INN AS A STARTING POINT FOR WHATEVER PURSUITS IMPASSION THEM. CLOISTER INN, PRINCETON IS AN EATING CLUB. THE INN PROVIDES MEALS, ROOMS, PARKING, A LIBRARY, RECREATIONAL FACILITIES AND SOCIAL EVENTS FOR STUDENTS AND ALUMMNI OF PRINCETON UNIVERSITY.

Activities or mission (Part I)

THE CLOISTER INN, AS AN EATING CLUB, PROVIDES MEALS FOR STUDENTS AND ALUMNI OF PRINCETON UNIVERSITY, HOSTS SPECIAL EVENTS AND IS AVAILABLE FOR CATERING FUNCTIONS

  • CLOISTER INN PROVIDES AN EATING CLUB EXPERIENCE FOR MEMBERS, ROOMS, PARKING, SOCIAL EVENTS, EDUCATIONAL ACTIVITIES AND RECREATIONAL FACILITIES.

    Expenses $759,494 · Revenue $401,322

  • CLOISTER PROVIDES SCHOLARSHIPS

    Expenses $86,744 · Grants $86,744

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mike Jackman

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Jose Pincay-Delgado

    V. CHAIR OPE

    Total calculated
    $0
    Hours/week
    1

  • Preston Granbery

    CHAIRLEGAL A

    Total calculated
    $0
    Hours/week
    1

  • Caroline McCarthy

    CHAIR ALUMNI

    Total calculated
    $0
    Hours/week
    1

  • Lauren Sanchez

    CHAIRSTUDENT

    Total calculated
    $0
    Hours/week
    1

  • Matthew Drabick

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • William Golden

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Andrew Frazier

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Eric Grogan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Pat McDonald

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Catherine Babiec

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ray Wang

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Denise Wong

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Henry Ruehl

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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.

Provenance

Return type
form_990
Tax year
2023
Filed
20 September 2024
IRS schema version
2023v5.0
Source object
202442909349301444

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