Milbrook Club Inc
- Assets
- $17.4m
- Revenue
- $9.5m
- Investments
- $0.0
- Employees
- 145
- Location
- Greenwich, CT
- Founding
- 08/1942
- Data as of
- 12/2021
- EIN
- 06-0453148
Organization Overview
Milbrook Club Inc is located in Greenwich, CT. The organization was established in 1942. 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, Milbrook Club Inc employed 145 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milbrook 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, Milbrook Club Inc generated $9.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $7.8m during the year ending 12/2021. While expenses have increased by 2.8% 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
TO PROMOTE SOCIAL & SPORTS ACTIVITIES, AMONG ITS MEMBERS, WHICH INCLUDES A GOLF COURSE, TENNIS COURTS, A SWIMMING POOL AND ASSOCIATED FACILITIES AND ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aman Singh Director Of Racquets | 40 | $693,710 | |
Scott M Kloster General Manager | Officer | 40 | $290,133 |
Andrew Richardson Head Golf Professional | 40 | $249,383 | |
James Morlock Controller | 40 | $156,903 | |
Chas Esposto Executive Chef | 40 | $134,146 | |
Rich Latto President | OfficerTrustee | 3 | $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 | $6,542,428 |
| Investment income | $4,454 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,800 |
| 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 | $2,528,244 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,460,454 |
| 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. | $311,352 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,067,998 |
| Pension plan accruals and contributions | $53,533 |
| Other employee benefits | $444,372 |
| Payroll taxes | $281,281 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,905 |
| Fees for services: Accounting | $50,912 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $173,682 |
| Advertising and promotion | $0 |
| Office expenses | $417,089 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $554,008 |
| Travel | $22,014 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $202,079 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,083,321 |
| Insurance | $176,107 |
| All other expenses | $0 |
| Total functional expenses | $7,765,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,041,896 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,828,728 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $135,962 |
| Prepaid expenses and deferred charges | $97,877 |
| Net Land, buildings, and equipment | $13,149,308 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $135,060 |
| Total assets | $17,388,831 |
| Accounts payable and accrued expenses | $356,835 |
| 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 | $4,155,215 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,591,907 |
| Total liabilities | $6,103,957 |
| Net assets without donor restrictions | $11,284,874 |
| 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 | $17,388,831 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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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 |
Huntington Crescent Club Inc Huntington, NY | $18,101,805 | $9,571,803 |
Mill River Club Inc Oyster Bay, NY | $11,730,867 | $8,340,769 |
Oakley Country Club Watertown, MA | $19,643,392 | $9,027,669 |