Sakonnet Golf Club
- Assets
- $8.1m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 97
- Location
- Little Compton, RI
- Founding
- 05/1945
- Data as of
- 12/2022
- EIN
- 05-0213430
Organization Overview
Sakonnet Golf Club is located in Little Compton, RI. The organization was established in 1945. 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, Sakonnet Golf Club employed 97 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sakonnet Golf Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Sakonnet Golf Club generated $4.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $3.6m during the year ending 12/2022. While expenses have increased by 2.5% 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
TO PROVIDE GOLF FACILITIES FOR THEIR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE GOLF FACILITIES FOR THEIR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark H Chafee President | OfficerTrustee | 5 | $0 |
Matthew P Havens Vice President | OfficerTrustee | 5 | $0 |
Paul W Mourning Secretary | OfficerTrustee | 5 | $0 |
Don B Mcnaughton Treasurer | OfficerTrustee | 5 | $0 |
Alan M Gardner Director | Trustee | 2 | $0 |
Katharine Alexis Ryan Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Patrick Mcnally Tennis Pro | 12/30/19 | $119,244 |
Richard Lebeau Golf Merchandise/golf Pro | 12/30/19 | $234,955 |
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 | $4,507,456 |
| Investment income | $5,070 |
| 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 | -$250,516 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,262,010 |
| 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. | $263,925 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $815,573 |
| Pension plan accruals and contributions | $13,753 |
| Other employee benefits | $72,600 |
| Payroll taxes | $153,096 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,275 |
| Fees for services: Accounting | $10,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,721 |
| Advertising and promotion | $0 |
| Office expenses | $2,687 |
| Information technology | $22,714 |
| Royalties | $0 |
| Occupancy | $199,596 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,111 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $445,259 |
| Insurance | $155,583 |
| All other expenses | $537,470 |
| Total functional expenses | $3,557,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,348 |
| Savings and temporary cash investments | $1,043,058 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $711,319 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $43,807 |
| Prepaid expenses and deferred charges | $4,078 |
| Net Land, buildings, and equipment | $6,232,555 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,570 |
| Total assets | $8,099,735 |
| Accounts payable and accrued expenses | $610,987 |
| Grants payable | $0 |
| Deferred revenue | $332,221 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,250 |
| Total liabilities | $949,458 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $7,056 |
| Paid-in or capital surplus, or land, building, or equipment fund | $260,666 |
| Retained earnings, endowment, accumulated income, or other funds | $6,882,555 |
| Total liabilities and net assets/fund balances | $8,099,735 |