Milbrook Club Inc
- Assets
- $19.3m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 148
- Location
- Greenwich, CT
- Founding
- 08/1942
- Data as of
- 12/2023
- 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 12/2023, Milbrook Club Inc employed 148 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 12/2023, Milbrook Club Inc generated $9.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $8.9m during the year ending 12/2023. While expenses have increased by 3.7% per year over the past 6 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
2023
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 |
|---|---|---|---|
Terri Brown Kutzen President | OfficerTrustee | 3 | $0 |
Ken Dinov Dinovo Vice President | OfficerTrustee | 3 | $0 |
Tom Ander Andersen Treasurer | OfficerTrustee | 3 | $0 |
Frances Wilso Wilson Secretary | OfficerTrustee | 3 | $0 |
John Cracraft Governor | Trustee | 3 | $0 |
David Grimes Governor | Trustee | 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 | $6,762,491 |
| Investment income | $60,825 |
| 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 | $2,903,584 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,731,700 |
| 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. | $190,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,683,690 |
| Pension plan accruals and contributions | $47,321 |
| Other employee benefits | $506,318 |
| Payroll taxes | $325,578 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,000 |
| Fees for services: Accounting | $53,898 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $183,495 |
| Advertising and promotion | $0 |
| Office expenses | $613,463 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $590,177 |
| Travel | $26,826 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $176,607 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,189,469 |
| Insurance | $183,494 |
| All other expenses | $0 |
| Total functional expenses | $8,851,747 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,399,214 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,986,425 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $156,152 |
| Prepaid expenses and deferred charges | $78,254 |
| Net Land, buildings, and equipment | $15,208,171 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $459,956 |
| Total assets | $19,288,172 |
| Accounts payable and accrued expenses | $434,009 |
| 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 | $3,360,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,779,893 |
| Total liabilities | $5,573,902 |
| Net assets without donor restrictions | $13,714,270 |
| 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 | $19,288,172 |