Packanack Golf Club
- Assets
- $1.5m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 10
- Location
- Wayne, NJ
- Founding
- 07/1970
- Data as of
- 12/2021
- 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 12/2021, Packanack Golf Club employed 10 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 12/2021, Packanack Golf Club generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $944.4k during the year ending 12/2021. While expenses have increased by 4.6% 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 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.
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.
THE ORGANIZATION HOSTS SEVERAL GOLF TOURNAMENTS DURING THE YEAR FOR MEMBERS TO SOCIALIZE, EXERCISE AND COMPETE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Biagini President | Officer | 1 | $0 |
Matt Graf Vice President | Officer | 1 | $0 |
John Forlenza Secretary | Officer | 1 | $0 |
Daniel Considine Treasurer | Officer | 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 | $1,046,492 |
| Investment income | $20 |
| 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 | $1,051,162 |
| 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 | $120,649 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,367 |
| Office expenses | $26,930 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $168,676 |
| 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 | $13,766 |
| Insurance | $0 |
| All other expenses | $590,575 |
| Total functional expenses | $944,370 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $488,344 |
| Savings and temporary cash investments | $99,558 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,469 |
| 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 | $899,830 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,519,201 |
| Accounts payable and accrued expenses | $7,649 |
| Grants payable | $146,054 |
| Deferred revenue | $32,668 |
| 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 | $40,000 |
| Other liabilities | $0 |
| Total liabilities | $226,371 |
| 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 | $1,292,830 |
| Total liabilities and net assets/fund balances | $1,519,201 |
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Smoke Rise Club Kinnelon, NJ | $2,441,144 | $4,889,227 |
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Cobbs Creek Restoration And Community Foundation West Conshohocken, PA | $9,472,650 | $6,266,372 |
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