Silver Spring Country Club Incorporated
- Assets
- $17.4m
- Revenue
- $9.6m
- Investments
- $161.6k
- Employees
- 195
- Location
- Ridgefield, CT
- Founding
- 11/1954
- Data as of
- 12/2021
- EIN
- 06-0536020
Organization Overview
Silver Spring Country Club Incorporated is located in Ridgefield, CT. The organization was established in 1954. 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 12/2021, Silver Spring Country Club Incorporated employed 195 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Silver Spring Country Club Incorporated 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, Silver Spring Country Club Incorporated generated $9.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $8.7m during the year ending 12/2021. While expenses have increased by 5.2% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CLUB PROVIDES A GOLF COURSE, TENNIS AND SWIMMING FACILITIES FOR ITS MEMBERS. THE CLUB MAINTAINS A CLUBHOUSE IN WHICH DINING FACILITIES ARE AVAILABLE FOR THE MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karl Habib General Manager | Officer | 60 | $257,702 |
William Cygan Property Manager | 60 | $190,760 | |
Glen Mcmurdo Tennis Pro | 60 | $178,900 | |
Eugene Mulak Golf Pro | 60 | $165,050 | |
Daniel Jones Club Manager | 60 | $142,522 | |
Jamie Santacroce Controller | 60 | $122,036 |
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 | $6,603,226 |
| Investment income | $10,627 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $61,800 |
| 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 | $2,447,549 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,562,196 |
| 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. | $270,719 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,335,943 |
| Pension plan accruals and contributions | $18,643 |
| Other employee benefits | $323,594 |
| Payroll taxes | $316,623 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,733 |
| Fees for services: Accounting | $27,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $63,959 |
| Advertising and promotion | $0 |
| Office expenses | $221,899 |
| Information technology | $20,218 |
| Royalties | $0 |
| Occupancy | $704,096 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $66,307 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,817,383 |
| Insurance | $131,154 |
| All other expenses | $0 |
| Total functional expenses | $8,716,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $553,816 |
| Savings and temporary cash investments | $284,153 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $419,242 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $91,442 |
| Prepaid expenses and deferred charges | $32,509 |
| Net Land, buildings, and equipment | $15,845,588 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $161,629 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $58,228 |
| Total assets | $17,446,607 |
| Accounts payable and accrued expenses | $537,543 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $1,606,300 |
| Other liabilities | $559,458 |
| Total liabilities | $2,703,301 |
| Net assets without donor restrictions | $14,743,306 |
| 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 | $17,446,607 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Glen Oaks Club Inc Old Westbury, NY | $13,779,705 | $20,068,781 |
Sleepy Hollow Country Club Westchester Scarborough, NY | $36,824,085 | $23,136,850 |
Wee Burn Country Club Inc Darien, CT | $32,519,463 | $16,725,850 |
Piping Rock Club Locust Valley, NY | $31,334,038 | $17,059,500 |
Oak Hill Country Club Rochester, NY | $24,513,885 | $17,798,483 |
Greenwich Country Club Greenwich, CT | $48,407,804 | $23,136,592 |
Harvard Club Of New York City New York, NY | $57,363,784 | $14,784,742 |
Wellesley Country Club Wellesley, MA | $55,523,277 | $17,353,733 |
Colony Club New York, NY | $19,784,366 | $16,065,896 |
Creek Inc Locust Valley, NY | $5,369,299 | $13,749,282 |
Woodway Country Club Incorporated Darien, CT | $32,570,201 | $14,880,536 |
Round Hill Club Incorporated Greenwich, CT | $26,532,622 | $13,385,000 |