Tedesco Country Club
- Assets
- $19.9m
- Revenue
- $7.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Marblehead, MA
- Founding
- 10/1934
- Data as of
- 12/2021
- EIN
- 04-1895530
Organization Overview
Tedesco Country Club is located in Marblehead, MA. The organization was established in 1934. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tedesco Country Club 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, Tedesco Country Club generated $7.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $6.6m during the year ending 12/2021. While expenses have increased by 1.9% 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
TO OPERATE AS A PRIVATE CLUB FOR THE SOCIAL AND RECREATIONAL BENEFIT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Mcgillicuddy General Manager | Officer | 50 | $235,667 |
Peter Hasak Golf Course Superintendent | Officer | 50 | $151,000 |
David Tollerud Chef | 45 | $109,904 | |
David W Campbell President | OfficerTrustee | 10 | $0 |
Eric Collins Vice President | OfficerTrustee | 5 | $0 |
Frank Sweeny Treasurer | OfficerTrustee | 5 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $4,647,472 |
| Investment income | $3,510 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,446,523 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,327,227 |
| 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. | $426,439 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,349,577 |
| Pension plan accruals and contributions | $15,601 |
| Other employee benefits | $181,057 |
| Payroll taxes | $317,280 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,341 |
| Fees for services: Accounting | $24,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $69,119 |
| Advertising and promotion | $0 |
| Office expenses | $716,103 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $454,482 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $225,976 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $785,390 |
| Insurance | $82,468 |
| All other expenses | $0 |
| Total functional expenses | $6,555,290 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $304,960 |
| Savings and temporary cash investments | $3,012,483 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $302,429 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $286,636 |
| Prepaid expenses and deferred charges | $66,510 |
| Net Land, buildings, and equipment | $15,916,093 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,889,111 |
| Accounts payable and accrued expenses | $213,182 |
| 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 | $5,788,098 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,449 |
| Total liabilities | $6,011,729 |
| Net assets without donor restrictions | $13,877,382 |
| 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 | $19,889,111 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Glen Oaks Club Inc Old Westbury, NY | $13,779,705 | $20,068,781 |
Sleepy Hollow Country Club Westchester Scarborough, NY | $36,824,085 | $23,136,850 |
Wee Burn Country Club Inc Darien, CT | $32,519,463 | $16,725,850 |
Piping Rock Club Locust Valley, NY | $31,334,038 | $17,059,500 |
Oak Hill Country Club Rochester, NY | $24,513,885 | $17,798,483 |
Greenwich Country Club Greenwich, CT | $48,407,804 | $23,136,592 |
Harvard Club Of New York City New York, NY | $57,363,784 | $14,784,742 |
Wellesley Country Club Wellesley, MA | $55,523,277 | $17,353,733 |
Colony Club New York, NY | $19,784,366 | $16,065,896 |
Creek Inc Locust Valley, NY | $5,369,299 | $13,749,282 |
Woodway Country Club Incorporated Darien, CT | $32,570,201 | $14,880,536 |
Round Hill Club Incorporated Greenwich, CT | $26,532,622 | $13,385,000 |