Maidstone Club Inc
- Assets
- $25.5m
- Revenue
- $15.3m
- Investments
- $0.0
- Employees
- 289
- Location
- East Hampton, NY
- Founding
- 06/1957
- Data as of
- 12/2022
- EIN
- 11-1036940
Organization Overview
Maidstone Club Inc is located in East Hampton, NY. The organization was established in 1957. 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 12/2022, Maidstone Club Inc employed 289 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maidstone 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 12/2022, Maidstone Club Inc generated $15.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $14.0m during the year ending 12/2022. While expenses have increased by 3.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A CLUB EXCLUSIVELY FOR PLEASURE AND RECREATIONAL PURPOSES.
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 |
|---|---|---|---|
Linda B Brandi President | OfficerTrustee | 3 | $0 |
Georgiana J Slade Vice President | OfficerTrustee | 3 | $0 |
Timothy P Dana Secretary | OfficerTrustee | 3 | $0 |
Robert L Burch IV Treasurer | OfficerTrustee | 3 | $0 |
James R Lamb Governor | Trustee | 3 | $0 |
Lee Gowen Marine Governor | Trustee | 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 | $9,188,225 |
| Investment income | $38,956 |
| 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 | $6,048,877 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,279,835 |
| 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. | $846,312 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,596,199 |
| Pension plan accruals and contributions | $79,028 |
| Other employee benefits | $934,470 |
| Payroll taxes | $693,741 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,706 |
| Fees for services: Accounting | $29,849 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,662 |
| Fees for services: Other | $452,971 |
| Advertising and promotion | $0 |
| Office expenses | $283,493 |
| Information technology | $57,332 |
| Royalties | $0 |
| Occupancy | $761,727 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,255 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,126,950 |
| Insurance | $402,785 |
| All other expenses | $175,536 |
| Total functional expenses | $13,988,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $177,536 |
| Savings and temporary cash investments | $3,854,040 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $310,787 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $879,459 |
| Prepaid expenses and deferred charges | $504,901 |
| Net Land, buildings, and equipment | $13,589,685 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,141,353 |
| Total assets | $25,457,761 |
| Accounts payable and accrued expenses | $237,331 |
| 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 | $910,050 |
| Other liabilities | $231,420 |
| Total liabilities | $1,378,801 |
| Net assets without donor restrictions | $24,078,960 |
| 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 | $25,457,761 |