Towers Country Club Inc
- Assets
- $4.9m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 133
- Location
- Floral Park, NY
- Founding
- 10/1996
- Data as of
- 02/2022
- EIN
- 13-2854903
Organization Overview
Towers Country Club Inc is located in Floral Park, NY. The organization was established in 1996. 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 02/2022, Towers Country Club Inc employed 133 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Towers 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 02/2022, Towers Country Club Inc generated $3.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $3.3m during the year ending 02/2022. While expenses have increased by 1.2% per year over the past 7 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
OPERATE A COUNTRY CLUB AND GOLF COURSE ON BEHALF OF NORTH SHORE TOWERS APARTMENTS, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TOWERS COUNTRY CLUB FEATURES AN 18-HOLE, 5,751-YARD, PAR-70 GOLF COURSE KNOWN FOR ITS ROLLING TERRAIN, TREE-LINED FAIRWAYS, AND MANICURED GREENS. THE CLUB BOASTS A ROBUST SCHEDULE OF SOCIAL ACTIVITIES AND THE FRIENDLY COMPETITION OF TOURNAMENTS FOR MEMBERS AND THEIR GUESTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Anne Langone Club Manager | 40 | $148,034 | |
Stanley J Goldsmith Vice President/secretary | OfficerTrustee | 1 | $0 |
Daniel Nachmanoff Vice President | OfficerTrustee | 1 | $0 |
Fred Chernow Vice President | OfficerTrustee | 1 | $0 |
Martin Schwartzman 1st Vice President, Treasu | OfficerTrustee | 1 | $0 |
Theresa Oropallo Vice President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rainbow Maintenance Cleaning Services | 2/27/22 | $239,929 |
Robert Guido Pga Golf Pro | 2/27/22 | $134,211 |
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 | $3,743,436 |
| Investment income | $622 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,774,913 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,450,127 |
| Pension plan accruals and contributions | $18,867 |
| Other employee benefits | $36,841 |
| Payroll taxes | $120,286 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $388 |
| Advertising and promotion | $152 |
| Office expenses | $26,263 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,037 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $324,074 |
| Insurance | $54,000 |
| All other expenses | $280,588 |
| Total functional expenses | $3,274,560 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,114,945 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,828,538 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,943,483 |
| Accounts payable and accrued expenses | $99,902 |
| 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 | $0 |
| Total liabilities | $99,902 |
| Net assets without donor restrictions | $4,843,581 |
| 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 | $4,943,483 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Canoe Brook Country Club Summit, NJ | $49,012,793 | $22,669,304 |
Glen Oaks Club Inc Old Westbury, NY | $13,779,705 | $20,068,781 |
Saucon Valley Country Club Bethlehem, PA | $67,852,931 | $24,203,066 |
Sleepy Hollow Country Club Westchester Scarborough, NY | $36,824,085 | $23,136,850 |
Wee Burn Country Club Inc Darien, CT | $32,519,463 | $16,725,850 |
Piping Rock Club Locust Valley, NY | $31,334,038 | $17,059,500 |
Philadelphia Cricket Club Philadelphia, PA | $37,903,760 | $20,280,729 |
Rolling Rock Club Ligonier, PA | $40,965,761 | $18,300,601 |
Oak Hill Country Club Rochester, NY | $24,513,885 | $17,798,483 |
The Ridgewood Country Club Paramus, NJ | $31,275,344 | $17,956,980 |
Montclair Golf Club Montclair, NJ | $32,931,083 | $17,687,834 |
Greenwich Country Club Greenwich, CT | $48,407,804 | $23,136,592 |