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.
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 |
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 |