Spring Lake Golf Club
- Assets
- $38.1m
- Revenue
- $10.2m
- Investments
- $0.0
- Employees
- 244
- Location
- Spring Lake, NJ
- Founding
- 01/1974
- Data as of
- 12/2022
- EIN
- 22-1982858
Organization Overview
Spring Lake Golf Club is located in Spring Lake, NJ. The organization was established in 1974. According to its NTEE Classification (N6A) the organization is classified as: Golf, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Spring Lake Golf Club employed 244 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spring Lake 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 12/2022, Spring Lake Golf Club generated $10.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $9.4m during the year ending 12/2022. While expenses have increased by 5.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CLUB PROVIDES FACILITIES TO PLAY GOLF AND MAINTAINS A CLUBHOUSE WITH DINING FACILITIES FOR THE BENEFIT OF ITS MEMBERS 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 |
|---|---|---|---|
Peter Kenny President | OfficerTrustee | 3 | $0 |
Dennis Rogers Vice President | OfficerTrustee | 3 | $0 |
W Peter Ragan Jr Secretary | OfficerTrustee | 3 | $0 |
Kevin Bormida Treasurer | OfficerTrustee | 3 | $0 |
Christopher Lukas Assistant Treasurer | OfficerTrustee | 3 | $0 |
Marc C Capone Trustee | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Donnelly Construction Clubhouse Renovators | 12/30/22 | $1,397,133 |
Matthew J Mckeon Llc Slgc Pro Shop | 12/30/22 | $857,780 |
By Design Landscapes Inc Landscaping | 12/30/22 | $146,811 |
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 | $6,158,804 |
| Investment income | $31,091 |
| 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 | $4,056,452 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,246,347 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,250 |
| 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. | $456,210 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,511,965 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $383,608 |
| Payroll taxes | $591,711 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $62,828 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $78,256 |
| Advertising and promotion | $0 |
| Office expenses | $95,023 |
| Information technology | $82,790 |
| Royalties | $0 |
| Occupancy | $830,615 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,025 |
| Interest | $274,988 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,467,531 |
| Insurance | $108,567 |
| All other expenses | $0 |
| Total functional expenses | $9,448,068 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,334,703 |
| Savings and temporary cash investments | $60,248 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,439,576 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $313,478 |
| Prepaid expenses and deferred charges | $399,446 |
| Net Land, buildings, and equipment | $28,374,293 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $165,672 |
| Total assets | $38,087,416 |
| Accounts payable and accrued expenses | $760,598 |
| Grants payable | $0 |
| Deferred revenue | $4,683,323 |
| 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 | $7,407,602 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $844,441 |
| Total liabilities | $13,695,964 |
| Net assets without donor restrictions | $24,391,452 |
| 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 | $38,087,416 |