Hempstead Golf Club Inc
- Assets
- $9.4m
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 220
- Location
- Hempstead, NY
- Founding
- 09/1937
- Data as of
- 04/2023
- EIN
- 11-0871370
Organization Overview
Hempstead Golf Club Inc is located in Hempstead, NY. The organization was established in 1937. According to its NTEE Classification (N6A) the organization is classified as: Golf, under the broad grouping of Recreation & Sports and related organizations. As of 04/2023, Hempstead Golf Club Inc employed 220 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hempstead Golf 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 04/2023, Hempstead Golf Club Inc generated $9.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $9.4m during the year ending 04/2023. While expenses have increased by 2.2% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A PRIVATE GOLF COURSE, FOOD & BEVERAGE SERVICE, AND OTHER RECREATIONAL 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 |
|---|---|---|---|
Sanford Talkin President | OfficerTrustee | 5 | $0 |
Richard Trabulsi Vice President | OfficerTrustee | 5 | $0 |
Michael Durney Treasurer | OfficerTrustee | 5 | $0 |
Greg Lacasse Assistant Treasurer | OfficerTrustee | 5 | $0 |
James Sweeney Secretary | OfficerTrustee | 5 | $0 |
James Dempsey Assistant Secretary | OfficerTrustee | 5 | $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 | $5,759,343 |
| Investment income | $22,095 |
| 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 | $3,180,325 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,200,836 |
| 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. | $538,077 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,065,899 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $394,972 |
| Payroll taxes | $519,382 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $45,747 |
| Fees for services: Accounting | $34,756 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $52,684 |
| Advertising and promotion | $0 |
| Office expenses | $42,410 |
| Information technology | $62,390 |
| Royalties | $0 |
| Occupancy | $699,877 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,363 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,018,462 |
| Insurance | $199,132 |
| All other expenses | $19,885 |
| Total functional expenses | $9,416,199 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $984,491 |
| Savings and temporary cash investments | $261,985 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $955,131 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $175,333 |
| Prepaid expenses and deferred charges | $291,427 |
| Net Land, buildings, and equipment | $4,781,937 |
| Investments—publicly traded securities | $1,514,840 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $422,477 |
| Total assets | $9,387,621 |
| Accounts payable and accrued expenses | $673,433 |
| Grants payable | $0 |
| Deferred revenue | $1,931,566 |
| 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 | $11,805 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,450,629 |
| Total liabilities | $4,067,433 |
| Net assets without donor restrictions | $5,320,188 |
| 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 | $9,387,621 |