Overview
What is 116 Inc?
116 Inc, located in Washington D.C., is a thriving social club. Its primary activity revolves around recreation, pleasure, and socialization. This nonprofit organization has shown significant financial success, earning a revenue of $515,072 in the previous year. While the description does not elaborate on the specific services or activities provided by 116 Inc, it is evident that the club serves as a hub for social engagement and leisure activities within its community.
Is 116 Inc legitimate?
116 Inc is a legitimate nonprofit organization registered as a 501(c)(7) entity. 116 Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $121,212
Professional Fundraising Fees: $0
Other Salaries and Wages: $283,969
For more financial information, click here
What is the mission statement of 116 Inc?
116 Inc, as a recreational or social club, does not have a publicly disclosed mission statement in the provided data. However, from the information available, it can be inferred that 116 Inc is a club that generates revenue through leisure activities or social events. The club generated a significant income of $515,072 last year, suggesting a strong presence and engagement within its community. Without explicit mission details, the focus of 116 Inc's activities remains unclear, but it likely caters to providing recreational, pleasure, or social experiences to its members.
Who is the CEO of 116 Inc?
Stacy Paleologos is the President of 116 Inc.
What is the revenue of 116 Inc?
116 Inc's revenue in 2023 was $657,781.
Who are the executives of 116 Inc and what are their salaries?
The average compensation at 116 Inc during 2023 was $33,765. There are 12 employees at 116 Inc.
Here are 12 key members and their salaries:
- Compensation: $121,212
- Related: $0
- Other: $0
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- Other: $0
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- Compensation: $0
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- Other: $0
Where can I find the form 990 for 116 Inc?
116 Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of 116 Inc
116 Inc, as a recreational, pleasure, or social club, serves as a venue for leisure and social activities. Its primary function is to generate revenue, as evidenced by the $515,072 it earned last year. While the provided information does not specify the club's purpose beyond its financial success, it can be inferred that 116 Inc provides a space for individuals to unwind, socialize, and engage in enjoyable activities. The club's mission, however, remains undisclosed in the given data.
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Impact
October, 2024
116 Inc serves as a vital social hub in Washington, DC, fostering community connections and providing a vibrant space for recreational and leisure activities. With total revenue of $515,072 last year, it demonstrates a strong ability to engage and support a diverse membership. By offering various activities and events, 116 Inc enriches the local social landscape, encouraging interaction and collaboration among residents. This impact not only enhances individual well-being but also contributes to a sense of belonging and community cohesion in the area. Through its dedication to recreation and social engagement, 116 Inc plays a significant role in improving the quality of life for those it serves.
This information is meant to be a general summary of 116 Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $15,444
- Program Service Revenue: $476,053
- Gross Receipts: $878,486
Assets and Liabilities:
- Total Assets: $788,077
- Total Liabilities: $28,840
- Net Assets: $759,237
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Membership Dues & Assessments
Revenue
$476,053
Organization Details
Phone
(202) 547-6800Principal Officer
Stacy Paleologos
Main Address
234 3RD STREET NE, WASHINGTON, DC, 20002
NTEE Category
Code: N50 - Recreation
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