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Nonprofiteer
← CLOISTER INN OF PRINCETON UNIVERSITY

Form 990 for tax year 2022

Filed by CLOISTER INN OF PRINCETON UNIVERSITY.

Totals

Total revenue
$709,427
Total expenses
$1,010,660
Contributions and grants received
$172,846
Grants paid
$27,190
Program service revenue
$418,538
Investment income
$23
Other revenue
$118,020
Total assets, end of year
$587,268
Total liabilities, end of year
$401,487
Net assets or fund balances, end of year
$185,781
Program services expenses (Part IX)
$833,103
Management and general expenses
$96,061
Fundraising expenses
$81,496
Program service expenses (Part III)
$833,103

Program services were 82.4% 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

    $134,559

  • 1f · All other contributions, gifts and grants

    $38,287

  • 2a · Program service revenue: BOARD FEES

    total $321,056 · related or exempt $321,056

  • 2b · Program service revenue: HOUSE FEES

    total $71,582 · related or exempt $71,582

  • 2c · Program service revenue: ALUMIN DUES

    total $25,900 · related or exempt $25,900

  • 3 · Investment income

    total $23 · unrelated business $23

  • 10a · Gross sales of inventory

    $64,740

  • 10b · Cost of goods sold

    $19,977

  • 10c · Net income from sales of inventory

    total $44,763 · unrelated business $44,763

  • 11a · Other revenue: SOCIAL FUND

    total $32,182 · related or exempt $32,182

  • 11b · Other revenue: LODGING

    total $29,850 · related or exempt $29,850

  • 11c · Other revenue: PARKING

    total $11,225 · related or exempt $11,225

  • 11e · Other revenue, total

    $73,257

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $27,190 · program services $27,190

  • 7 · Other salaries and wages

    total $456,297 · program services $376,990 · management and general $44,540 · fundraising $34,767

  • 9 · Other employee benefits

    total $10,052 · program services $10,052

  • 10 · Payroll taxes

    total $56,672 · program services $35,704 · management and general $13,601 · fundraising $7,367

  • 11c · Fees: accounting

    total $29,750 · management and general $29,750

  • 11g · Fees: other

    total $51,883 · program services $51,822 · management and general $61

  • 13 · Office expenses

    total $17,151 · program services $5,595 · management and general $5,449 · fundraising $6,107

  • 14 · Information technology

    total $4,391 · fundraising $4,391

  • 16 · Occupancy

    total $99,559 · program services $99,559

  • 19 · Conferences, conventions and meetings

    total $7,436 · program services $7,436

  • 20 · Interest

    total $4,195 · program services $4,195

  • 22 · Depreciation, depletion and amortization

    total $19,199 · program services $19,199

  • 23 · Insurance

    total $38,074 · program services $38,074

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

    total $106,516 · program services $106,516

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $26,241 · program services $26,241

  • 24c · Other expenses: ALUMNI FOOD & BEVERAGE

    total $16,425 · fundraising $16,425

  • 24d · Other expenses: KITCHEN SUPPLIES

    total $14,632 · program services $14,632

  • 24e · All other expenses

    total $24,997 · program services $9,898 · management and general $2,660 · fundraising $12,439

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $274,955 · end of year $76,477

  • 2 · Savings and temporary cash investments

    beginning of year $130,912 · end of year $7,752

  • 4 · Accounts receivable

    beginning of year $165,483 · end of year $181,350

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,334 · end of year $28,642

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

    $1,228,935

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

    $935,888

  • 10c · Land, buildings and equipment, net

    beginning of year $307,421 · end of year $293,047

  • 15 · Other assets

    beginning of year $4,825

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,856 · end of year $24,957

  • 19 · Deferred revenue

    beginning of year $184,300 · end of year $223,270

  • 23 · Secured mortgages and notes payable

    beginning of year $201,534 · end of year $147,964

  • 25 · Other liabilities

    beginning of year $8,226 · end of year $5,296

  • 27 · Net assets without donor restrictions

    beginning of year $487,014 · end of year $185,781

Mission and programs · 2022

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 $805,913 · Revenue $803,414

  • CLOISTER PROVIDES SCHOLARSHIPS

    Expenses $27,190 · Grants $27,190

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

Listed in Part VII

  • Jason Miller

    GENERAL MANA

    Total calculated
    $185,428
    From this org
    $92,714
    From related orgs
    $92,714
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $84,039 + $84,039 related
    Bonus
    $8,675 + $8,675 related
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $92,714 + $92,714 related

  • Catherine Babiec

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Aran Clair

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Matthew Drabick

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dana Dreibelbis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Andrew Frazier

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • William Golden

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Preston Granbery

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Eric Grogan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mike Jackman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Caroline McCarthy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Pat McDonald

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jose Pincay-Delgado

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Raoul Rodriguez

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ernest Ruehl

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lauren Sanchez

    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
27 October 2023
IRS schema version
2022v5.0
Source object
202303179349304815

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