Misquamicut Club
- Assets
- $15.5m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 147
- Location
- Westerly, RI
- Founding
- 05/1945
- Data as of
- 12/2021
- EIN
- 05-0183985
Organization Overview
Misquamicut Club is located in Westerly, RI. The organization was established in 1945. 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, Misquamicut Club employed 147 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Misquamicut 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, Misquamicut Club generated $6.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $6.2m during the year ending 12/2021. While expenses have increased by 2.4% 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
A PRIVATE COUNTRY CLUB PROVIDING GOLF, TENNIS, SWIMMING, FOOD AND BEVERAGE SERVICE FOR ITS MEMBERS AND THEIR GUESTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOLF OPERATION - GOLF FACILITIES ARE AVAILABLE FOR USE BY GOLFING MEMBERS AND THEIR GUESTS.
FOOD AND BEVERAGE OPERATION - TO PROVIDE MEMBERS AND THEIR GUESTS WITH AN OPPORTUNITY FOR DINING AND SOCIALIZING.
OTHER RECREATIONAL OPERATIONS - TENNIS AND SWIMMING FACILITIES ARE AVAILABLE FOR USE BY MEMBERS AND THEIR GUESTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip Koretski General Manager | Officer | 40 | $237,155 |
Dean Bozak Golf Course Superintendent | 40 | $144,835 | |
Anthony Frattarelli CFO | 40 | $142,238 | |
Michael Paciga Executive Chef | 40 | $130,737 | |
John P Holstein President | OfficerTrustee | 5 | $0 |
Lydia T Cottrell Vice President | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
James Corrigan Golf Professional | 12/30/21 | $339,387 |
Wuhrman 10's Llc Tennis Professional | 12/30/21 | $178,839 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $153,687 |
| All other contributions, gifts, grants, and similar amounts not included above | $171,175 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $324,862 |
| Total Program Service Revenue | $6,457,750 |
| Investment income | $9,045 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$181,301 |
| 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 | -$284,568 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,456,476 |
| 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. | $237,155 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,714,450 |
| Pension plan accruals and contributions | $133,783 |
| Other employee benefits | $383,589 |
| Payroll taxes | $217,935 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $81,051 |
| Fees for services: Accounting | $26,500 |
| 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 | $109,972 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $342,757 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,064 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $892,456 |
| Insurance | $304,412 |
| All other expenses | $550,667 |
| Total functional expenses | $6,225,492 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $127,582 |
| Savings and temporary cash investments | $150,510 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $153,697 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $72,503 |
| Prepaid expenses and deferred charges | $42,398 |
| Net Land, buildings, and equipment | $14,614,698 |
| Investments—publicly traded securities | $270,022 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $20,966 |
| Other assets | $0 |
| Total assets | $15,452,376 |
| Accounts payable and accrued expenses | $446,391 |
| Grants payable | $0 |
| Deferred revenue | $6,572,979 |
| 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 | $5,092,307 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,416 |
| Total liabilities | $12,114,093 |
| Net assets without donor restrictions | $3,338,283 |
| 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 | $15,452,376 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Innis Arden Golf Club Inc Old Greenwich, CT | $33,992,814 | $14,860,228 |
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 |
Golf Club Of Marthas Vineyard Inc Edgartown, MA | $54,618,022 | $7,664,048 |
Greenwich Water Club Inc Cos Cob, CT | $34,734 | $8,500,732 |
Oakley Country Club Watertown, MA | $19,643,392 | $9,027,669 |
Milbrook Club Inc Greenwich, CT | $17,388,831 | $9,460,454 |
Country Club Of Fairfield Inc Fairfield, CT | $29,190,882 | $7,946,208 |
University Club Of Boston Boston, MA | $34,166,489 | $7,340,957 |
Misquamicut Club Westerly, RI | $15,452,376 | $6,456,476 |
Ridgewood Country Club Inc Danbury, CT | $10,449,288 | $6,642,319 |
Bulls Bridge Golf Club Inc South Kent, CT | $10,421,679 | $5,943,245 |