Acoaxet Club Inc
- Assets
- $2.7m
- Revenue
- $541.7k
- Investments
- $0.0
- Employees
- 81
- Location
- Westport, MA
- Founding
- 04/1997
- Data as of
- 12/2022
- EIN
- 04-3308688
Organization Overview
Acoaxet Club Inc is located in Westport, MA. The organization was established in 1997. 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 12/2022, Acoaxet Club Inc employed 81 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Acoaxet 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, Acoaxet Club Inc generated $541.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (15.4%) each year. All expenses for the organization totaled $612.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (14.6%) per year over the past 8 years. 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
THE ORGANIZATION'S MISSION IS TO BE A PRIVATE, FAMILY-ORIENTED, SEASONAL CLUB.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DINING ROOM / CLUBHOUSE - A SOCIAL MEETING PLACE WHERE MEMBERS AND GUEST GATHER TO SOCIALIZE. A PORTION OF THESE EXPENSES ARE UNRELATED BUSINESS EXPENSES.
GOLF COURSE GROUNDS - THE UPKEEP OF THE GROUNDS AND THE GOLF COURSE IS AN ESSENTIAL PART OF WHAT THE SOCIAL CLUB HAS TO OFFER ITS MEMBERS.
PRO-SHOP - OFFERS THE MEMBERS A PLACE TO BUY WHAT IS NEEDED FOR GOLF AS WELL AS PROFESSIONAL INSTRUCTION.
TENNIS & YOUTH ACTIVITIES - PROVIDES A BROADER MEMBERSHIP ENROLLMENT TO INDIVIDUALS AS WELL AS TO FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Thompson President | OfficerTrustee | 10 | $0 |
Jill Tate Vice President | OfficerTrustee | 10 | $0 |
Matthew Forbes Treasurer | OfficerTrustee | 10 | $0 |
Rebecca Merchant Secretary | OfficerTrustee | 10 | $0 |
Peter Briggs Governor | Trustee | 8 | $0 |
Michelle Carney Governor | Trustee | 8 | $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 | $541,502 |
| Investment income | $169 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $541,671 |
| 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 | $266,573 |
| Pension plan accruals and contributions | $7,680 |
| Other employee benefits | $28,748 |
| Payroll taxes | $23,376 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,000 |
| Advertising and promotion | $6 |
| Office expenses | $32,461 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $62,318 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,190 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,796 |
| Insurance | $3,469 |
| All other expenses | $15,269 |
| Total functional expenses | $612,721 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,191 |
| Savings and temporary cash investments | $293,141 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $262,039 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $23,971 |
| Prepaid expenses and deferred charges | $26,004 |
| Net Land, buildings, and equipment | $1,988,855 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,700,201 |
| Accounts payable and accrued expenses | $223,491 |
| Grants payable | $0 |
| Deferred revenue | $1 |
| 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 | $416,813 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $48,385 |
| Total liabilities | $688,690 |
| Net assets without donor restrictions | $2,011,511 |
| 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 | $2,700,201 |