Prospectors INC FY2023 filing

Not tax-deductible

Reno, NV501(c)(7)EIN 88-0055355

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Nevada's finest and oldest private social club

$16K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2023 · 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
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 $2K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$16K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$11K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 11 voting members
Looks good: 10 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
+14% vs prior year
Spent
$1.2M
Net assets
$396K
By yearFY2020–FY2025
Revenue
$1.1M
FY2023▲ +14%
Revenue by fiscal year
FY2020$1.0M
FY2021$477K
FY2022$946K
FY2023$1.1M
FY2024$1.2M
FY2025$1.2M
Expenses
$1.2M
FY2023▲ +10%
Expenses by fiscal year
FY2020$971K
FY2021$338K
FY2022$1.1M
FY2023$1.2M
FY2024$1.2M
FY2025$1.2M
Net assets
$396K
FY2023▼ -19%
Net assets by fiscal year
FY2020$472K
FY2021$612K
FY2022$489K
FY2023$396K
FY2024$421K
FY2025$418K

From the FY2023 Form 990 (year ending May 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 ruling in Dec 1977.

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

Who runs it and what they're paid

13 people listed on the 990; $16K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$15,600Pt VII · Sec A
$0Pt VII · Sec A
President (until June 2022)
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
House Committee Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Michael Rosenauer$14,500$15,600$15,600$15,600$15,600$15,600

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 private social club for members.

Provided by the organization

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1 program · in their own filed words · FY2022
01

Established in 1947, the Club provides its members a comfortable club room to meet with acquaintances & clients for socializing and networking. It hosts many parties, dances and activities for its members. Current activities include golf tournaments, clay shoots, winter and spring formal, and additional special events.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Fees for servicesLn 2g$1.1M
Other incomeLn 4–11$6K
Investment incomeLn 3$1K
Money outPt IX
$1.2M
Ln 25
Owns and owesPt X
$396K
net assets · Ln 32
Cash and savingsLn 1–2$256K
Total assetsLn 16$407K
LiabilitiesLn 26$11K
PeoplePt VI, VII
13
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$1K
Other incomeLn 4–11$6K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$228K
SavingsLn 2$28K
Cash and savings togetherLn 1–2$256K
Total assetsLn 16$407K
LiabilitiesLn 26$11K
Net assetsLn 32$396K
OperationsPt I, VI
EmployeesI 52
VolunteersI 69
Fiscal year endsHeaderMay
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 FY23End FY23
Cash and savingsLn 1–2$387K$256K
Total assetsLn 16$515K$407K
LiabilitiesLn 26$26K$11K
Net assetsLn 32$489K$396K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$16K
Other salaries and wagesLn 7$92K
Pension plan contributionsLn 8$3K
Other employee benefitsLn 9$25K
Payroll taxesLn 10$9K
Legal feesLn 11b$50
Accounting feesLn 11c$88K
Office expensesLn 13$16K
OccupancyLn 16$67K
Conferences, conventions and meetingsLn 19$62K
InsuranceLn 23$14K
Other expenses (24a–d)Ln 24$772K
All other expensesLn 24e$6K
Total functional expensesLn 25$1.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.2M$1.2M−$3K$418K 990 PDF
FY2024 $1.2M$1.2M$23K$421K 990 PDF
FY2023 Viewing $1.1M$1.2M−$92K$396K 990 PDF
FY2022 $946K$1.1M−$122K$489K 990 PDF
FY2021 $477K$338K$139K$612K 990 PDF
FY2020 $1.0M$971K$67K$472K 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $1,076,790 across 3 lines filed
Lines not itemized here account for $6,456 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,069,231$1,069,231
VIII-3 Investment incomeUnrelated business $1,103$1,103
VIII-12 Total revenueRelated to mission $1,075,687 · Unrelated business $1,103 · Excluded from tax $0$1,076,790
Part IX · Statement of functional expenses $1,169,117 across 13 lines filed
IX-5 Pay of current officers, directors and key staff$15,600
IX-7 Other salaries and wages$91,834
IX-8 Pension plan contributions$2,658
IX-9 Other employee benefits$25,285
IX-10 Payroll taxes$8,772
IX-11b Legal fees$50
IX-11c Accounting fees$87,681
IX-13 Office expenses$15,946
IX-16 Occupancy$67,035
IX-19 Conferences, conventions and meetings$62,489
IX-23 Insurance$13,607
IX-24 Other expenses (24a–d)$771,794
IX-24e All other expenses$6,366
IX-25 Total functional expenses$1,169,117
Part X · Balance sheet $406,986 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $179,881$227,743
X-2 Savings and temporary cash investmentsStart of year $207,383$28,399
X-4 Accounts receivableStart of year $48,871$105,669
X-9 Prepaid expenses and deferred chargesStart of year $78,510$45,175
X-16 Total assetsStart of year $514,645$406,986
X-17 Accounts payable and accrued expensesStart of year $25,904$10,515
X-26 Total liabilitiesStart of year $25,904$10,515
X-27 Net assets without donor restrictionsStart of year $488,741$396,471
X-32 Total net assets or fund balancesStart of year $488,741$396,471
X-33 Total liabilities and net assetsStart of year $514,645$406,986
Part XI · Reconciliation of net assets $396,471 net assets at year end
XI-1 Total revenue$1,076,790
XI-2 Total expenses$1,169,117
XI-3 Revenue less expenses−$92,327
XI-4 Net assets at start of year$488,741
XI-5 Net unrealized gains (losses) on investments$57
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$396,471

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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