Lake Forest Country Club Inc
- Assets
- $7.3m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 125
- Location
- Louisville, KY
- Founding
- 08/2004
- Data as of
- 12/2021
- EIN
- 20-0283427
Organization Overview
Lake Forest Country Club Inc is located in Louisville, KY. The organization was established in 2004. 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 12/2021, Lake Forest Country Club Inc employed 125 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Forest 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 12/2021, Lake Forest Country Club Inc generated $4.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $4.0m during the year ending 12/2021. While expenses have increased by 2.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
COUNTRY AND SOCIAL CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
COUNTRY CLUB, SOCIAL ACTIVITIES, AND EVENTS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susannah Miller General Manager | Officer | 40 | $159,500 |
Jim Gast Immediate Past Controller | Officer | 40 | $93,700 |
Lori Frericks Controller | Officer | 40 | $30,518 |
Robert Longwell President | OfficerTrustee | 0.5 | $0 |
Andrew Swan Vice-President | OfficerTrustee | 0.5 | $0 |
Walter Honeycutt Treasurer | OfficerTrustee | 0.5 | $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 | $3,028,532 |
| Investment income | $27 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $100,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $839,635 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,040,311 |
| 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. | $295,720 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,196,057 |
| Pension plan accruals and contributions | $33,642 |
| Other employee benefits | $209,499 |
| Payroll taxes | $169,993 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,829 |
| Fees for services: Accounting | $23,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $249,133 |
| Advertising and promotion | $12,083 |
| Office expenses | $164,119 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $477,101 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $28,065 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $405,535 |
| Insurance | $67,714 |
| All other expenses | $89,037 |
| Total functional expenses | $4,039,154 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,151 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $619,974 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $56,564 |
| Prepaid expenses and deferred charges | $15,414 |
| Net Land, buildings, and equipment | $5,365,124 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $411,881 |
| Other assets | $697,672 |
| Total assets | $7,332,780 |
| Accounts payable and accrued expenses | $535,553 |
| Grants payable | $0 |
| Deferred revenue | $507,995 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $400,000 |
| Secured mortgages and notes payable | $489,270 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $540,292 |
| Total liabilities | $2,473,110 |
| Net assets without donor restrictions | $4,859,670 |
| 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 | $7,332,780 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bellehaven Country Club Inc Alexandria, VA | $40,402,944 | $17,085,559 |
Pi Beta Phi Fraternity Housing Corporation Town Country, MO | $77,087,429 | $19,221,332 |
Olympia Fields Country Club Olympia Fields, IL | $30,077,528 | $14,988,630 |
Willow Oaks Country Club Inc Richmond, VA | $15,889,652 | $10,037,529 |
Memphis Country Club Memphis, TN | $17,898,426 | $9,558,758 |
Academy Of Model Aeronautics Ama Muncie, IN | $14,826,959 | $9,207,922 |
Twin Orchard Country Club Long Grove, IL | $7,888,847 | $8,779,508 |
Kinloch Golf Association Corp ManakinSabot, VA | $45,313,161 | $8,251,750 |
Briarwood Country Club Deerfield, IL | $16,862,462 | $7,936,936 |
Lakewood Country Club Company Westlake, OH | $13,232,237 | $7,948,852 |
Idle Hour Country Club Inc Lexington, KY | $13,827,877 | $6,560,806 |
Chicago Club Chicago, IL | $23,297,083 | $6,965,290 |