Nantucket Golf Club Inc
- Assets
- $42.2m
- Revenue
- $9.1m
- Investments
- $0.0
- Employees
- 180
- Location
- Siasconset, MA
- Founding
- 03/1999
- Data as of
- 12/2022
- EIN
- 04-3282515
Organization Overview
Nantucket Golf Club Inc is located in Siasconset, MA. The organization was established in 1999. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Nantucket Golf Club Inc employed 180 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nantucket Golf Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Nantucket Golf Club Inc generated $9.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $12.6m during the year ending 12/2022. While expenses have increased by 5.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE GOLF, GOLF TOURNAMENTS AND SOCIAL CLUB FROM MAY TO OCTOBER FOR OVER 300 MEMBERS AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED GOLF, GOLF TOURNAMENTS AND SOCIAL CLUB FROM MAY TO OCTOBER FOR OVER 300 MEMBERS AND THEIR FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Bresette Club Managertreasurer | Officer | 40 | $557,055 |
Mark Lucas Golf Course Manager | Officer | 40 | $372,048 |
Mike Demakos Golf Professional | Officer | 40 | $365,074 |
Frederick D Green President | OfficerTrustee | 30 | $273,252 |
Rebecca Bartlett Controllerasst Clerk | Officer | 40 | $221,570 |
Steve Polowy Executive Chef | 40 | $174,414 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $6,713,750 |
| 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 | $6,713,750 |
| Total Program Service Revenue | $903,022 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $43,143 |
| 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 | $1,471,902 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,131,817 |
| 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. | $1,024,611 |
| Compensation of current officers, directors, key employees. | $1,024,611 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,243,804 |
| Pension plan accruals and contributions | $168,746 |
| Other employee benefits | $486,244 |
| Payroll taxes | $536,123 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,546 |
| Fees for services: Accounting | $56,708 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $909,736 |
| Travel | $115,582 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,169 |
| Interest | $23,625 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,889,376 |
| Insurance | $307,216 |
| All other expenses | $1,747,472 |
| Total functional expenses | $12,612,294 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $449,352 |
| Savings and temporary cash investments | $2,435,455 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $123,197 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $703,093 |
| Prepaid expenses and deferred charges | $616,037 |
| Net Land, buildings, and equipment | $35,639,240 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,279,641 |
| Total assets | $42,246,015 |
| Accounts payable and accrued expenses | $181,836 |
| 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 | $4,117,579 |
| Unsecured mortgages and notes payable | $937,333 |
| Other liabilities | $1,874,062 |
| Total liabilities | $7,110,810 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $87,233,968 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$52,098,763 |
| Total liabilities and net assets/fund balances | $42,246,015 |