Lawrence Beach Club Inc
- Assets
- $5.8m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 120
- Location
- Atlantic Beach, NY
- Founding
- 06/1934
- Data as of
- 11/2021
- EIN
- 11-0988860
Organization Overview
Lawrence Beach Club Inc is located in Atlantic Beach, 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 11/2021, Lawrence Beach Club Inc employed 120 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lawrence Beach 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 11/2021, Lawrence Beach Club Inc generated $3.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $3.8m during the year ending 11/2021. While expenses have increased by 1.9% 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 OPERATES BEACH AND POOL FACILITIES AND A CLUBHOUSE FOR THE USE AND ENJOYMENT OF ITS MEMBERS AND THEIR GUEST.
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 |
|---|---|---|---|
Bruce Closs General Manager | Officer | 40 | $209,000 |
Karen Closs Assistant General Manager | 40 | $180,000 | |
Margaret Miller Controller | 40 | $162,275 | |
James J Pratt III President | OfficerTrustee | 5 | $0 |
Elizabeth Mullen Treasurer | OfficerTrustee | 5 | $0 |
Elizabeth Knechtges Vice President | 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 | $2,805,910 |
| Investment income | $43,741 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,000 |
| 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 | $966,245 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,823,896 |
| 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. | $279,276 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,465,297 |
| Pension plan accruals and contributions | $53,190 |
| Other employee benefits | $91,078 |
| Payroll taxes | $207,019 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,574 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,500 |
| Advertising and promotion | $0 |
| Office expenses | $152,599 |
| Information technology | $40,770 |
| Royalties | $0 |
| Occupancy | $342,852 |
| Travel | $18,913 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,384 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $323,383 |
| All other expenses | $119,656 |
| Total functional expenses | $3,753,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $374,422 |
| Savings and temporary cash investments | $4,242,147 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,229 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $95,339 |
| Prepaid expenses and deferred charges | $198,435 |
| Net Land, buildings, and equipment | $85,835 |
| Investments—publicly traded securities | $801,076 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,806,483 |
| Accounts payable and accrued expenses | $353,284 |
| 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 | $0 |
| Other liabilities | $322,809 |
| Total liabilities | $676,093 |
| Net assets without donor restrictions | $5,130,390 |
| 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 | $5,806,483 |
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