Grindstone Association
- Assets
- $4.9m
- Revenue
- $677.1k
- Investments
- $716.3k
- Employees
- 18
- Location
- Winter Harbor, ME
- Founding
- 03/1996
- Data as of
- 12/2021
- EIN
- 01-0202445
Organization Overview
Grindstone Association is located in Winter Harbor, ME. The organization was established in 1996. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Grindstone Association employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grindstone Association is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Grindstone Association generated $677.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $475.5k during the year ending 12/2021. While expenses have increased by 1.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SOCIAL CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVITIES PROMOTE THE SOCIAL INTERACTION AND FELLOWSHIP OF MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Myers Treasurer | OfficerTrustee | 0 | $0 |
Marian Ide Secretary | OfficerTrustee | 0 | $0 |
Chandler Williams Vice President | OfficerTrustee | 0 | $0 |
Ellin Miller President | OfficerTrustee | 0 | $0 |
Nathaniel Reed Director | Trustee | 0 | $0 |
Amanda Nichols Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $70,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $70,000 |
| Total Program Service Revenue | $402,106 |
| Investment income | $57,418 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $147,595 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $677,119 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $178,409 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $14,909 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,552 |
| Advertising and promotion | $0 |
| Office expenses | $1,500 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $106,738 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,955 |
| Insurance | $23,445 |
| All other expenses | $0 |
| Total functional expenses | $475,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $142,635 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,778 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,606 |
| Net Land, buildings, and equipment | $457,231 |
| Investments—publicly traded securities | $3,612,776 |
| Investments—other securities | $716,297 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,949,323 |
| Accounts payable and accrued expenses | $3,660 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $23,449 |
| Total liabilities | $27,109 |
| Net assets without donor restrictions | $313,807 |
| Net assets with donor restrictions | $4,608,407 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,949,323 |
Endowment Analysis
| Beg. Balance | $3,657,913 |
| Net Contributions | $584,788 |
| Other Expense | $49,000 |
| Ending Balance | $4,193,701 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nashua Country Club Nashua, NH | $11,876,858 | $9,163,090 |
Bald Peak Colony Club Melvin Village, NH | $11,276,451 | $8,005,657 |
Woodlands Club Falmouth, ME | $13,018,024 | $8,041,545 |
Portland Country Club Falmouth, ME | $15,784,752 | $5,682,051 |
York Golf & Tennis Club York, ME | $4,649,024 | $3,575,691 |
Purpoodock Club Cape Elizabeth, ME | $4,038,090 | $2,350,676 |
Cochecho Country Club Dover, NH | $4,308,223 | $2,269,241 |
Augusta Country Club Manchester, ME | $1,655,771 | $1,867,113 |
Blue Mountain Forest Association Newport, NH | $1,601,722 | $1,253,996 |
Bicycle Coalition Of Maine Portland, ME | $543,416 | $901,876 |
Maine Gladiators Lewiston, ME | $425,665 | $651,798 |
Grindstone Association Winter Harbor, ME | $4,949,323 | $677,119 |