Cherry Valley Club Inc
- Assets
- $15.3m
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 163
- Location
- Garden City, NY
- Founding
- 09/1934
- Data as of
- 03/2022
- EIN
- 11-0621590
Organization Overview
Cherry Valley Club Inc is located in Garden City, NY. The organization was established in 1934. 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 03/2022, Cherry Valley Club Inc employed 163 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cherry Valley 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 03/2022, Cherry Valley Club Inc generated $9.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $8.5m during the year ending 03/2022. While expenses have increased by 2.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE & ENCOURAGE AN INTEREST IN GOLF, OTHER SPORTS, SOCIAL ACTIVITIES & GOOD FELLOWSHIP.
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 |
|---|---|---|---|
Craig Henne General Manager | Officer | 40 | $306,501 |
Christopher Caporicci Golf Course Superintendent | Officer | 40 | $248,466 |
Patrick Gunning Comptroller | 40 | $175,745 | |
Greg Lauletta Executive Chef | 40 | $162,170 | |
Ed Kelly Director Of Golf | 40 | $149,143 | |
Mark Fitzpatrick Vice 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 | $6,180,335 |
| Investment income | $354 |
| 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 | $2,969,969 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,150,658 |
| 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. | $802,360 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,241,135 |
| Pension plan accruals and contributions | $28,535 |
| Other employee benefits | $623,646 |
| Payroll taxes | $393,283 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,492 |
| Fees for services: Accounting | $69,832 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $149,115 |
| Advertising and promotion | $0 |
| Office expenses | $87,815 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $595,581 |
| Travel | $10,290 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $965,814 |
| Insurance | $214,500 |
| All other expenses | $0 |
| Total functional expenses | $8,538,953 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,456,140 |
| Savings and temporary cash investments | $740,971 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,745,791 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $256,270 |
| Prepaid expenses and deferred charges | $428,046 |
| Net Land, buildings, and equipment | $7,701,711 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,328,929 |
| Accounts payable and accrued expenses | $1,376,848 |
| Grants payable | $0 |
| Deferred revenue | $4,115,302 |
| 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 | $14,743 |
| Total liabilities | $5,506,893 |
| Net assets without donor restrictions | $9,822,036 |
| 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 | $15,328,929 |
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