Nantucket Golf Club Inc
- Assets
- $41.1m
- Revenue
- $8.8m
- Investments
- $0.0
- Employees
- 163
- Location
- Siasconset, MA
- Founding
- 03/1999
- Data as of
- 12/2021
- 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 12/2021, Nantucket Golf Club Inc employed 163 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 12/2021, Nantucket Golf Club Inc generated $8.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $11.6m during the year ending 12/2021. While expenses have increased by 5.5% 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
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 | $478,903 |
Mike Demakos Golf Professional | Officer | 40 | $301,347 |
Mark Lucas Golf Course Manager | Officer | 40 | $291,609 |
Frederick D Green President | OfficerTrustee | 30 | $260,240 |
Rebecca Bartlett Controllerasst Clerk | Officer | 40 | $217,417 |
Steve Polowy Executive Chef | 40 | $140,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $6,176,584 |
| 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 | $6,176,584 |
| Total Program Service Revenue | $962,501 |
| Investment income | $263,713 |
| 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 | $1,314,937 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,761,983 |
| 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. | $962,691 |
| Compensation of current officers, directors, key employees. | $962,691 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,743,318 |
| Pension plan accruals and contributions | $184,199 |
| Other employee benefits | $506,521 |
| Payroll taxes | $557,904 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,019 |
| Fees for services: Accounting | $49,470 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,085 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $824,584 |
| Travel | $98,381 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,379 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,496,309 |
| Insurance | $234,368 |
| All other expenses | $1,917,305 |
| Total functional expenses | $11,610,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $399,519 |
| Savings and temporary cash investments | $5,097,104 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $131,598 |
| Loans from Officers, Directors, or Controlling Persons | $907,227 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $550,329 |
| Prepaid expenses and deferred charges | $422,206 |
| Net Land, buildings, and equipment | $30,673,305 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,899,638 |
| Total assets | $41,080,926 |
| Accounts payable and accrued expenses | $509,311 |
| 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 | $1,779,538 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,526,175 |
| Total liabilities | $4,815,024 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $84,808,968 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$48,543,066 |
| Total liabilities and net assets/fund balances | $41,080,926 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Nantucket Golf Club Inc has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
Bains Family Foundation Nantucket, MA PURPOSE: CHARITABLE | $1,000 |
Jane Beasley Foundation Jupiter, FL PURPOSE: GENERAL | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Westchester Country Club Inc Rye, NY | $77,553,664 | $42,480,746 |
Elderhostel Inc Boston, MA | $135,068,845 | $25,807,817 |
Yale Club Of New York City New York, NY | $50,588,779 | $20,944,634 |
Old Westbury Golf & Country Club Inc Old Westbury, NY | $24,637,751 | $16,881,231 |
Innis Arden Golf Club Inc Old Greenwich, CT | $33,992,814 | $14,860,228 |
Hudson National Golf Club Inc Croton On Hudson, NY | $51,687,185 | $12,086,027 |
Nantucket Golf Club Inc Siasconset, MA | $41,080,926 | $8,761,983 |
Great Harbor Yacht Club Inc Nantucket, MA | $67,641,341 | $7,821,481 |
Fisher Island Club Inc Fishers Island, NY | $26,382,427 | $9,842,592 |
Golf Club Of Marthas Vineyard Inc Edgartown, MA | $54,618,022 | $7,664,048 |
Noyac Golf Club Inc Sag Harbor, NY | $25,263,669 | $11,022,614 |
Greenwich Water Club Inc Cos Cob, CT | $34,734 | $8,500,732 |