Old Westbury Golf & Country Club Inc
- Assets
- $29.2m
- Revenue
- $19.6m
- Investments
- $0.0
- Employees
- 217
- Location
- Old Westbury, NY
- Founding
- 01/1967
- Data as of
- 12/2023
- EIN
- 11-1967540
Organization Overview
Old Westbury Golf & Country Club Inc is located in Old Westbury, NY. The organization was established in 1967. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Old Westbury Golf & Country Club Inc employed 217 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Westbury Golf & Country 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 12/2023, Old Westbury Golf & Country Club Inc generated $19.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $17.3m during the year ending 12/2023. While expenses have increased by 2.7% per year over the past 9 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
PRIVATE MEMBERSHIP OWNED COUNTRY CLUB, WHICH INCLUDES GOLF COURSES, TENNIS FACILITIES, POOLS, FITNESS CENTER, AND DINING FACILITIES.
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 |
|---|---|---|---|
Howard Tanney President | OfficerTrustee | 30 | $0 |
Allan Bloom Secretary | OfficerTrustee | 20 | $0 |
Alan Tauber Vice President | OfficerTrustee | 20 | $0 |
Mark Rosen Treasurer | OfficerTrustee | 20 | $0 |
Shawn Rogol Board Member | Trustee | 10 | $0 |
Ben Levine Board Member | Trustee | 10 | $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 | $13,609,284 |
| Investment income | $444,614 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $55,707 |
| 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 | $5,216,034 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,634,049 |
| 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. | $837,210 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,664,557 |
| Pension plan accruals and contributions | $11,329 |
| Other employee benefits | $818,229 |
| Payroll taxes | $904,330 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $122,992 |
| Fees for services: Accounting | $30,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $39,736 |
| Advertising and promotion | $0 |
| Office expenses | $204,263 |
| Information technology | $162,743 |
| Royalties | $0 |
| Occupancy | $1,108,471 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $80,206 |
| Interest | $323,973 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,580,317 |
| Insurance | $355,905 |
| All other expenses | $339,607 |
| Total functional expenses | $17,271,430 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,073,298 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,186,065 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $801,850 |
| Inventories for sale or use | $177,536 |
| Prepaid expenses and deferred charges | $666,370 |
| Net Land, buildings, and equipment | $16,093,766 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,218,198 |
| Total assets | $29,217,083 |
| Accounts payable and accrued expenses | $1,366,132 |
| 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 | $6,516,456 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,730,528 |
| Total liabilities | $13,613,116 |
| Net assets without donor restrictions | $15,603,967 |
| 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 | $29,217,083 |