Beacon Hill Club
- Assets
- $7.1m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 171
- Location
- Summit, NJ
- Founding
- 08/1957
- Data as of
- 03/2022
- EIN
- 22-1582044
Organization Overview
Beacon Hill Club is located in Summit, NJ. The organization was established in 1957. 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 03/2022, Beacon Hill Club employed 171 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beacon Hill Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 03/2022, Beacon Hill Club generated $5.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $5.0m during the year ending 03/2022. While expenses have increased by 4.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE SETTING FOR MEMBERS TO PARTICIPATE IN NUMEROUS SPORTS ACTIVITIES & DINING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Mcdonald General Manager | Officer | 40 | $207,000 |
Greg Morgan Tennis & Paddle Pro | 40 | $188,832 | |
Christian Vargas Maintenace Manager | 40 | $110,000 | |
Greg Mulligan President | OfficerTrustee | 3 | $0 |
Tom Walden Trustee | Trustee | 3 | $0 |
Jared Gross Treasurer | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Forst Contracting Development Corp Constructions | 3/30/21 | $480,980 |
Beacon Hill Pro Shop Retail Service | 3/30/21 | $125,296 |
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 | $2,574,704 |
| Investment income | $6,674 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,720 |
| 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 | $2,260,915 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,973,966 |
| 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. | $216,118 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,437,332 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $303,559 |
| Payroll taxes | $218,719 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,609 |
| Fees for services: Accounting | $22,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $53,651 |
| Advertising and promotion | $0 |
| Office expenses | $216,158 |
| Information technology | $5,697 |
| Royalties | $0 |
| Occupancy | $337,714 |
| 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 | $394,438 |
| Insurance | $84,949 |
| All other expenses | $0 |
| Total functional expenses | $4,989,563 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,600 |
| Savings and temporary cash investments | $507,836 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,406,366 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $112,718 |
| Prepaid expenses and deferred charges | $66,395 |
| Net Land, buildings, and equipment | $3,994,498 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,089,413 |
| Accounts payable and accrued expenses | $206,453 |
| Grants payable | $0 |
| Deferred revenue | $2,105,868 |
| 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 | $132,227 |
| Total liabilities | $2,444,548 |
| Net assets without donor restrictions | $4,644,865 |
| 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 | $7,089,413 |
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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 |
Harvard Club Of New York City New York, NY | $57,363,784 | $14,784,742 |
Wilmington Country Club Wilmington, DE | $36,588,269 | $16,899,345 |