Crestmont Country Club
- Assets
- $25.3m
- Revenue
- $12.8m
- Investments
- $0.0
- Employees
- 167
- Location
- West Orange, NJ
- Founding
- 04/1958
- Data as of
- 12/2021
- EIN
- 22-1545020
Organization Overview
Crestmont Country Club is located in West Orange, NJ. The organization was established in 1958. As of 12/2021, Crestmont Country Club employed 167 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Crestmont 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 12/2021, Crestmont Country Club generated $12.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $9.4m during the year ending 12/2021. While expenses have increased by 3.0% 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
TO ENCOURAGE AND STIMULATE INTEREST IN OUTDOOR SPORTS; TO PROMOTE AND FOSTER THE PLEASURE OF AND SOCIAL ASSOCIATION AMONG ITS MEMBERS.
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 |
|---|---|---|---|
Robert Downey Golf Professional | 60 | $493,151 | |
Joshua Weissbard General Manager (terminated 7/1/2022) | Officer | 40 | $216,742 |
Peter Pedrazzi Jr Greens Superintendent | Officer | 50 | $192,789 |
Willis Loughhead Exec Chef / Asst Gm | 50 | $147,235 | |
James Alcide Controller | 55 | $138,192 | |
Andrew Rabinowitz President | OfficerTrustee | 1 | $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 | $6,886,574 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,488,314 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,714,053 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,799,982 |
| 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. | $436,488 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,460,486 |
| Pension plan accruals and contributions | $11,250 |
| Other employee benefits | $412,336 |
| Payroll taxes | $376,989 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $918 |
| Fees for services: Accounting | $35,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,553 |
| Advertising and promotion | $0 |
| Office expenses | $334,295 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,197,059 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,711 |
| Interest | $586,315 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,010,470 |
| Insurance | $135,500 |
| All other expenses | $41,259 |
| Total functional expenses | $9,385,529 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,477,732 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,157,814 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $108,830 |
| Prepaid expenses and deferred charges | $72,060 |
| Net Land, buildings, and equipment | $19,492,229 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,308,665 |
| Accounts payable and accrued expenses | $252,988 |
| Grants payable | $0 |
| Deferred revenue | $513,062 |
| 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 | $15,777,585 |
| Total liabilities | $16,543,635 |
| Net assets without donor restrictions | $8,765,030 |
| 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 | $25,308,665 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Westhampton Country Club Inc Westhampton Beach, NY | $23,462,713 | $10,560,693 |
Crestmont Country Club West Orange, NJ | $25,308,665 | $12,799,982 |
Pelham Country Club Pelham Manor, NY | $41,819,106 | $10,163,055 |
Country Club Of Buffalo Williamsville, NY | $18,336,233 | $6,990,234 |
Spring Lake Bath And Tennis Club Spring Lake, NJ | $7,086,734 | $3,415,082 |
Hill Crest Country Club Lower Burrell, PA | $3,269,850 | $1,701,411 |
Oswego Country Club Oswego, NY | $1,701,518 | $1,153,967 |
Fort Schuyler Club Utica, NY | $916,187 | $572,292 |
Minisceongo Yacht Club Inc Stony Point, NY | $4,113,169 | $563,706 |
City Island Yacht Club Inc City Island, NY | $426,353 | $470,217 |
Community Assisted Tenant Controlled Housing Inc New York, NY | $1,052,154 | $548,328 |
Osiris Country Club Inc Walden, NY | $49,494 | -$28,165 |