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Gorgons Head Lodge INC FY2020 filing

Not tax-deductible

Raleigh, NC501(c)(7)Recreation & Sports EIN 20-4940253Revenue $23K in FY2020

On file with the IRSPo Box 12791, 27605-2791 · Raleigh, NCTax-exempt since Dec 2007

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To give permanence to a social club composed primarily of students of the university of north carolina and to preserve historical club assets.

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $29K a year · 96% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
13 mo
of spending, in cash
Looks good: 13.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$23K
Spent
$55K
To programs
0%
Net assets
$894K
By yearFY2020–FY2024
Revenue
$23K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$23K
FY2021$42K
FY2022$20K
FY2023$32K
FY2024$31K
Expenses
$55K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$55K
FY2021$58K
FY2022$61K
FY2023$62K
FY2024$55K
Net assets
$894K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$894K
FY2021$882K
FY2022$825K
FY2023$803K
FY2024$783K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2007.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

16 people listed on the 990.

Part VII, Section A · reportable compensation
Walker Hobson
President
$0Pt VII · Sec A
Robbie Carroll
Vice-Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Nat Kluttz
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Bill Rogers
Director
$0Pt VII · Sec A
Rixey Todd
Director
$0Pt VII · Sec A
See Gorgons Head Lodge INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Preserves historical assets for a University of North Carolina student social club.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Provided a meeting place for active members and alumni to go for social gatherings.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$23K
Ln 12
Gifts and grantsLn 1h$19K
Investment incomeLn 3$4K
Money outPt IX
$55K
Ln 25
Owns and owesPt X
$894K
net assets · Ln 32
Cash and savingsLn 1–2$60K
Total assetsLn 16$894K
LiabilitiesLn 26$0
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$19K
Investment incomeLn 3$4K
Gains on assetsLn 7$3K
Total revenueLn 12$23K
Assets in detailPt X, end of year
CashLn 1$5K
SavingsLn 2$55K
Cash and savings togetherLn 1–2$60K
InvestmentsLn 11–13$46K
Land, buildings, equipmentLn 10c$789K
Total assetsLn 16$894K
LiabilitiesLn 26$0
Net assetsLn 32$894K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$16K$60K
InvestmentsLn 11–13$96K$46K
Land, buildings, equipmentLn 10c$818K$789K
Total assetsLn 16$929K$894K
LiabilitiesLn 26$0$0
Net assetsLn 32$929K$894K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
OccupancyLn 16$14K
Depreciation, depletion and amortizationLn 22$29K
Other expenses (24a–d)Ln 24$12K
Total functional expensesLn 25$55K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $31K$55K−$24K$783K 990 PDF
FY2023 $32K$62K−$30K$803K 990 PDF
FY2022 $20K$61K−$41K$825K 990 PDF
FY2021 $42K$58K−$16K$882K 990 PDF
FY2020 Viewing $23K$55K−$32K$894K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $23,379 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $40,776$19,000
I-9 Program service revenue$0
I-10 Investment incomePrior year $1,755$4,379
I-11 Other revenue$0
I-12 Total revenuePrior year $42,531$23,379
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $71,631$55,124
I-18 Total expensesPrior year $71,631$55,124
I-19 Revenue less expensesPrior year −$29,100−$31,745
Part VI · Governance 16 of 16 board members independent, 4 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $23,379 across 6 lines filed
VIII-1b Membership dues$15,500
VIII-1f All other contributions, gifts and grants$3,500
VIII-1h Total contributions, gifts and grants$19,000
VIII-3 Investment incomeExcluded from tax $1,309$1,309
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,070$3,070
VIII-12 Total revenueExcluded from tax $4,379$23,379
Part IX · Statement of functional expenses $55,124 across 3 lines filed
IX-16 Occupancy$13,705
IX-22 Depreciation, depletion and amortization$29,176
IX-24 Other expenses (24a–d)$12,243
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$55,124
Part X · Balance sheet $894,295 assets, 9 lines filed
X-1 Cash, non-interest-bearing$4,594
X-2 Savings and temporary cash investmentsStart of year $15,864$55,155
X-10c Land, buildings and equipment, netStart of year $817,752$788,576
X-11 Publicly traded securitiesStart of year $95,651$45,970
X-16 Total assetsStart of year $929,267$894,295
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $929,267$894,295
X-32 Total net assets or fund balancesStart of year $929,267$894,295
X-33 Total liabilities and net assetsStart of year $929,267$894,295
Part XI · Reconciliation of net assets $894,295 net assets at year end
XI-1 Total revenue$23,379
XI-2 Total expenses$55,124
XI-3 Revenue less expenses−$31,745
XI-4 Net assets at start of year$929,267
XI-5 Net unrealized gains (losses) on investments−$3,227
XI-10 Net assets at end of year$894,295

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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