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Paramus Flying Club FY2022 filing

Fairfield, NJUnknown exempt organizationSince 1956EIN 22-2845767Revenue $301K in FY2022

On file with the IRSflyingclub.org27 Wright Way Suite 9 · Fairfield, NJ

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Flying Club - social Club

99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $54K a year · 15% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$314K
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$301K
+10% vs prior year
Spent
$403K
To programs
99%
Net assets
$67K
By yearFY2020–FY2025
Revenue
$301K
FY2022▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$246K
FY2021$273K
FY2022$301K
FY2023$465K
FY2024$458K
FY2025$406K
Expenses
$403K
FY2022▲ +42%
Tap a bar for its year
Expenses by fiscal year
FY2020$252K
FY2021$283K
FY2022$403K
FY2023$248K
FY2024$327K
FY2025$310K
Net assets
$67K
FY2022▼ -61%
Tap a bar for its year
Net assets by fiscal year
FY2020$64K
FY2021$172K
FY2022$67K
FY2023$298K
FY2024$432K
FY2025$532K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $399K Management & general 1% · $4K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Roberto Costanzo
Vice Preside
$0Pt VII · Sec A
Dara Dunn
Trustee
$0Pt VII · Sec A
Myung Kil
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Charles Yoon
Secretary
$0Pt VII · Sec A
See Paramus Flying Club 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

Paramus Flying Club is a nonprofit organization based in Fairfield, NJ, formed in 1956.

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Provided by the organization

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1 program · in their own filed words · FY2022
01

The primary purpose is to provide the members with the opportunity to fly in well maintained, mutually-owned aircraft for recreation at an affordable price. The organization also provides the members a chance to commingle and exchange flying experiences and knowledge in a pleasurable way.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$301K
Ln 12
Fees for servicesLn 2g$301K
Investment incomeLn 3$60
Money outPt IX
$403K
Ln 25
Programscol B$399K
Managementcol C$4K
Owns and owesPt X
$67K
net assets · Ln 32
Cash and savingsLn 1–2$75K
Total assetsLn 16$380K
LiabilitiesLn 26$314K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$301K
Investment incomeLn 3$60
Gains on assetsLn 7$2
Total revenueLn 12$301K
Assets in detailPt X, end of year
CashLn 1$74K
SavingsLn 2$1K
Cash and savings togetherLn 1–2$75K
InvestmentsLn 11–13$1K
Land, buildings, equipmentLn 10c$293K
Total assetsLn 16$380K
LiabilitiesLn 26$314K
Net assetsLn 32$67K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$165K$75K
InvestmentsLn 11–13$2K$1K
Land, buildings, equipmentLn 10c$329K$293K
Total assetsLn 16$506K$380K
LiabilitiesLn 26$333K$314K
Net assetsLn 32$172K$67K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$1K$1K
Office expensesLn 13$518$518
InterestLn 20$23K$23K
Depreciation, depletion and amortizationLn 22$36K$36K
InsuranceLn 23$32K$32K
Other expenses (24a–d)Ln 24$299K$299K
All other expensesLn 24e$12K$9K$2K
Total functional expensesLn 25$403K$399K$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $406K$310K$96K$532K 990 PDF
FY2024 $458K$327K$131K$432K 990 PDF
FY2023 $465K$248K$216K$298K 990 PDF
FY2022 Viewing $301K$403K−$102K$67K 990 PDF
FY2021 $273K$283K−$10K$172K 990 PDF
FY2020 $246K$252K−$6K$64K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $301,157 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $272,883$301,097
I-10 Investment incomePrior year $32$60
I-11 Other revenue$0
I-12 Total revenuePrior year $272,915$301,157
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 $283,134$402,818
I-18 Total expensesPrior year $283,134$402,818
I-19 Revenue less expensesPrior year −$10,219−$101,661
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $301,157 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $301,097$301,097
VIII-3 Investment incomeExcluded from tax $58$58
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2$2
VIII-12 Total revenueRelated to mission $301,097 · Excluded from tax $60$301,157
Part IX · Statement of functional expenses $402,818 across 7 lines filed
IX-11c Accounting feesManagement $1,160$1,160
IX-13 Office expensesManagement $518$518
IX-20 InterestPrograms $22,899$22,899
IX-22 Depreciation, depletion and amortizationPrograms $35,739$35,739
IX-23 InsurancePrograms $31,972$31,972
IX-24 Other expenses (24a–d)Programs $298,993$298,993
IX-24e All other expensesPrograms $9,150 · Management $2,387$11,537
IX-25 Total functional expensesPrograms $398,753 · Management $4,065 · Fundraising $0$402,818
Part X · Balance sheet $380,471 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $164,170$73,527
X-2 Savings and temporary cash investmentsStart of year $1,003$1,004
X-4 Accounts receivableStart of year $10,056$11,681
X-10c Land, buildings and equipment, netStart of year $328,507$292,767
X-11 Publicly traded securitiesStart of year $2,050$1,492
X-16 Total assetsStart of year $505,786$380,471
X-17 Accounts payable and accrued expensesStart of year $563$2,700
X-24 Unsecured notes and loans payableStart of year $332,919$311,246
X-26 Total liabilitiesStart of year $333,482$313,946
X-32 Total net assets or fund balancesStart of year $172,304$66,525
X-33 Total liabilities and net assetsStart of year $505,786$380,471
Part XI · Reconciliation of net assets $66,525 net assets at year end
XI-1 Total revenue$301,157
XI-2 Total expenses$402,818
XI-3 Revenue less expenses−$101,661
XI-4 Net assets at start of year$172,304
XI-5 Net unrealized gains (losses) on investments−$618
XI-9 Other changes in net assets−$3,500
XI-10 Net assets at end of year$66,525

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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