Norfolk Golf Club
- Assets
- $4.5m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 42
- Location
- Westwood, MA
- Founding
- 09/1955
- Data as of
- 09/2023
- EIN
- 04-1675810
Organization Overview
Norfolk Golf Club is located in Westwood, MA. The organization was established in 1955. According to its NTEE Classification (N6A) the organization is classified as: Golf, under the broad grouping of Recreation & Sports and related organizations. As of 09/2023, Norfolk Golf Club employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norfolk Golf Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 09/2023, Norfolk Golf Club generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $1.6m during the year ending 09/2023. While expenses have increased by 4.1% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE MEMBERSHIP THE OPPORTUNITY TO PARTICIPATE IN THE GAME OF GOLF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB'S LARGEST PROGRAM IS TO MAINTAIN A GOLF COURSE FOR THE BENEFIT OF ITS MEMBERS AS WELL AS THE RELATED CLUB FACILITIES.
THE CLUB'S LARGEST PROGRAM IS TO MAINTAIN A GOLF COURSE FOR THE BENEFIT OF ITS MEMBERS AS WELL AS THE RELATED CLUB FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Healy Treasurer | OfficerTrustee | 10 | $13,030 |
David O'leary President | OfficerTrustee | 10 | $3,030 |
Matthew Patterson Secretary | OfficerTrustee | 10 | $3,030 |
Robert Wright Vice Preside | OfficerTrustee | 10 | $3,030 |
Charles Bean Director | Trustee | $0 | |
Michael Brown Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,440,757 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,440,757 |
| Total Program Service Revenue | $191,807 |
| Investment income | $19,524 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,586 |
| Net Gain/Loss on Asset Sales | $57,915 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,727,300 |
| 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 | $149,957 |
| Compensation of current officers, directors, key employees. | $10,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $487,740 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,371 |
| Payroll taxes | $49,797 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,749 |
| Information technology | $7,659 |
| Royalties | $0 |
| Occupancy | $109,240 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,840 |
| Interest | $93,894 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $279,084 |
| Insurance | $31,199 |
| All other expenses | $30,520 |
| Total functional expenses | $1,612,633 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $75,428 |
| Savings and temporary cash investments | $662,013 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,714,608 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,452,049 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $57 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $6,480 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,413,314 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $228,384 |
| Total liabilities | $2,648,235 |
| Net assets without donor restrictions | $1,803,814 |
| Net assets with donor restrictions | $0 |
| 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 | $4,452,049 |