Packanack Golf Club
- Assets
- $1.8m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 9
- Location
- Wayne, NJ
- Founding
- 07/1970
- Data as of
- 12/2023
- EIN
- 22-1764217
Organization Overview
Packanack Golf Club is located in Wayne, NJ. The organization was established in 1970. According to its NTEE Classification (N6A) the organization is classified as: Golf, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Packanack Golf Club employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Packanack Golf Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Packanack Golf Club generated $1.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $958.3k during the year ending 12/2023. While expenses have increased by 4.6% per year over the past 5 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 RECREATIONAL ACTIVITY TO THE COMMUNITY. A PLACE WHERE MEMBERS MAY COME TOGETHER TO HAVE COMPETITION, EXERCISE AND FAMILY ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
2021 CALDWELL CLASSIC: 54 HOLE MATCH PLAY TOURNAMENT WITH A 18 HOLE QUALIFYING ROUND. PLAYED OVER 3 WEEKENDS. MEMBERS COMPETE FOR PRIZES IN HONOR OF FOUNDING MEMBER WILLIAM CALDWELL.
THE ORGANIZATION HOSTS SEVERAL GOLF TOURNAMENTS DURING THE YEAR FOR MEMBERS TO SOCIALIZE, EXERCISE AND COMPETE.
2021 PRESIDENT AND VP CUP: TOURNAMENT PLAYED OVER TWO WEEKENDS. PLAYERS ARE DIVIDED INTO TWO GROUPS: THOSE WITH THE LOWEST AND HIGHEST HANDICAPS. PLAYERS COMPETE TO WIN THE PRESIDENT AND VICE PRESIDENT CUP.
2021 OPENING DAY TOURNAMENT: 18 HOLE TOURNAMENT WITH APPROXIMATELY 75 MEMBERS PARTICIPATING IN A FRIENDLY GOLF TOURNAMENT TO COMMEMORATE THE OPENING OF GOLF SEASON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Biagini President | Officer | 4 | $0 |
Matt Graf Vice President | Officer | 4 | $0 |
John Forlenza Secretary | Officer | 4 | $0 |
Daniel Considine Treasurer | Officer | 4 | $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 | $1,075,228 |
| Investment income | $20,275 |
| 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 | $1,098,353 |
| 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 | $143,735 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,354 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,675 |
| Office expenses | $21,412 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $166,677 |
| 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 | $5,454 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $958,262 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,461 |
| Savings and temporary cash investments | $465,078 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,556 |
| 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 | $1,273,776 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,826,871 |
| Accounts payable and accrued expenses | $20,083 |
| Grants payable | $0 |
| Deferred revenue | $36,922 |
| 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 | $157,978 |
| Other liabilities | $0 |
| Total liabilities | $214,983 |
| Net assets without donor restrictions | $0 |
| 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 | $1,611,888 |
| Total liabilities and net assets/fund balances | $1,826,871 |