Canoe Brook Country Club
- Assets
- $49.0m
- Revenue
- $23.4m
- Investments
- $2.9m
- Employees
- 377
- Location
- Summit, NJ
- Founding
- 09/1935
- Data as of
- 03/2023
- EIN
- 22-0805690
Organization Overview
Canoe Brook Country Club is located in Summit, NJ. The organization was established in 1935. 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 03/2023, Canoe Brook Country Club employed 377 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Canoe Brook Country Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 03/2023, Canoe Brook Country Club generated $23.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $21.2m during the year ending 03/2023. While expenses have increased by 3.5% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FACILITIES TO PLAY GOLF AND A CLUBHOUSE WITH DINING FACILITIES FOR THE USE AND ENJOYMENT OF ITS MEMBERS, THEIR FAMILIES AND GUESTS.
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 |
|---|---|---|---|
John Tratnyek President | OfficerTrustee | 3 | $0 |
James O'neill Vice President | OfficerTrustee | 3 | $0 |
Arjun Murti Secretary | OfficerTrustee | 3 | $0 |
Peter Pardo Treasurer | OfficerTrustee | 3 | $0 |
Gregory Campbell Trustee | Trustee | 3 | $0 |
Micheal Tedesco Trustee | 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 | $15,226,826 |
| Investment income | $24,576 |
| 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 | $7,815,060 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,418,242 |
| 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. | $687,026 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,865,988 |
| Pension plan accruals and contributions | $115,608 |
| Other employee benefits | $1,074,710 |
| Payroll taxes | $1,184,668 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,061 |
| Fees for services: Accounting | $45,996 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $160,209 |
| Advertising and promotion | $0 |
| Office expenses | $1,047,493 |
| Information technology | $143,788 |
| Royalties | $0 |
| Occupancy | $1,232,550 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,284 |
| Interest | $293,199 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,543,440 |
| Insurance | $380,831 |
| All other expenses | $0 |
| Total functional expenses | $21,174,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,379,459 |
| Savings and temporary cash investments | $345,214 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,505,171 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $440,392 |
| Prepaid expenses and deferred charges | $238,731 |
| Net Land, buildings, and equipment | $35,154,430 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,923,593 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $48,986,990 |
| Accounts payable and accrued expenses | $1,765,305 |
| Grants payable | $0 |
| Deferred revenue | $8,011,383 |
| 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 | $8,201,257 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $902,605 |
| Total liabilities | $18,880,550 |
| Net assets without donor restrictions | $30,106,440 |
| 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 | $48,986,990 |