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Centro Romeu Cascaes INC

Not tax-deductible

Harrison, NJ501(c)(7)Recreation & SportsEIN 22-3445487Revenue $355K in FY2024

On file with the IRS14 North Fe Rodgers Blvd, 07029-0000 · Harrison, NJTax-exempt since Feb 1999

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Social gathering place for the portuguese community

Run by 25 volunteers and 7 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

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FY2024 · 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
5 of 5
filings with a surplus
Average surplus $106K a year · 54% of revenue · last 5 filings
Looks good: a surplus in 5 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
6 mo
of spending, in cash
Looks good: 5.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$27K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$355K
+103% vs prior year
Spent
$143K
To programs
0%
Net assets
$818K
By yearFY2020–FY2024
Revenue
$355K
FY2024▲ +103%
Tap a bar for its year
Revenue by fiscal year
FY2020$91K
FY2021$140K
FY2022$224K
FY2023$174K
FY2024$355K
Expenses
$143K
FY2024▲ +61%
Tap a bar for its year
Expenses by fiscal year
FY2020$55K
FY2021$77K
FY2022$89K
FY2023$89K
FY2024$143K
Net assets
$818K
FY2024▼ -11%
Tap a bar for its year
Net assets by fiscal year
FY2020$611K
FY2021$674K
FY2022$809K
FY2023$924K
FY2024$818K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1999.

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

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
Carlos Abrantes
Vice Preside
$0Pt VII · Sec A
Nick Azevedo
2nd Treasure
$0Pt VII · Sec A
$0Pt VII · Sec A
Manuela Desilva
Vice Preside
$0Pt VII · Sec A
Alexandra Gaspar
2nd Secretar
$0Pt VII · Sec A
Anabela Matos
1st Secretar
$0Pt VII · Sec A
John Pinho
Vice Preside
$0Pt VII · Sec A
Jose Rodriques
1st Treasure
$0Pt VII · Sec A
See Centro Romeu Cascaes 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

Provides a gathering place for the Portuguese community.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

We have created an organization that brings together the portuguese community and allows the exchange of opinions and the continuation of tradition to the children (presently approximately 240 members).

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$355K
Ln 12
Other incomeLn 4–11$345K
Gifts and grantsLn 1h$10K
Investment incomeLn 3$34
Money outPt IX
$143K
Ln 25
Owns and owesPt X
$818K
net assets · Ln 32
Cash and savingsLn 1–2$70K
Total assetsLn 16$845K
LiabilitiesLn 26$27K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10K
Investment incomeLn 3$34
Other incomeLn 4–11$345K
Total revenueLn 12$355K
Assets in detailPt X, end of year
CashLn 1$195
SavingsLn 2$70K
Cash and savings togetherLn 1–2$70K
Land, buildings, equipmentLn 10c$775K
Total assetsLn 16$845K
LiabilitiesLn 26$27K
Net assetsLn 32$818K
OperationsPt I, VI
EmployeesI 57
VolunteersI 625
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 FY24End FY24
Cash and savingsLn 1–2$192K$70K
Land, buildings, equipmentLn 10c$697K$775K
Total assetsLn 16$889K$845K
LiabilitiesLn 26$166K$27K
Net assetsLn 32$723K$818K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$2K
Accounting feesLn 11c$450
Office expensesLn 13$40K
OccupancyLn 16$33K
Depreciation, depletion and amortizationLn 22$37K
Other expenses (24a–d)Ln 24$31K
Total functional expensesLn 25$143K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $355K$143K$212K$818K 990 PDF
FY2023 $174K$89K$86K$924K 990 PDF
FY2022 $224K$89K$135K$809K 990 PDF
FY2021 $140K$77K$63K$674K 990 PDF
FY2020 $91K$55K$36K$611K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $354,784 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $8,240$9,710
I-9 Program service revenue$0
I-10 Investment incomePrior year $87$34
I-11 Other revenuePrior year $166,158$345,040
I-12 Total revenuePrior year $174,485$354,784
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 $88,842$143,097
I-18 Total expensesPrior year $88,842$143,097
I-19 Revenue less expensesPrior year $85,643$211,687
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $354,784 across 7 lines filed
VIII-1b Membership dues$6,460
VIII-1f All other contributions, gifts and grants$3,250
VIII-1h Total contributions, gifts and grants$9,710
VIII-3 Investment incomeRelated to mission $34$34
VIII-8 Net income from fundraising events$36,704
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $308,336$308,336
VIII-12 Total revenueRelated to mission $308,370$354,784
Part IX · Statement of functional expenses $143,097 across 6 lines filed
IX-11b Legal fees$1,500
IX-11c Accounting fees$450
IX-13 Office expenses$39,951
IX-16 Occupancy$32,563
IX-22 Depreciation, depletion and amortization$37,348
IX-24 Other expenses (24a–d)$31,285
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$143,097
Part X · Balance sheet $844,916 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $1,195$195
X-2 Savings and temporary cash investmentsStart of year $190,806$69,901
X-10c Land, buildings and equipment, netStart of year $697,199$774,820
X-16 Total assetsStart of year $889,200$844,916
X-24 Unsecured notes and loans payableStart of year $166,353$26,945
X-26 Total liabilitiesStart of year $166,353$26,945
X-32 Total net assets or fund balancesStart of year $722,847$817,971
X-33 Total liabilities and net assetsStart of year $889,200$844,916
Part XI · Reconciliation of net assets $817,971 net assets at year end
XI-1 Total revenue$354,784
XI-2 Total expenses$143,097
XI-3 Revenue less expenses$211,687
XI-4 Net assets at start of year$722,847
XI-9 Other changes in net assets−$116,563
XI-10 Net assets at end of year$817,971

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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