Kennet Square Golf & Country Club
- Assets
- $12.6m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 125
- Location
- Kennett Square, PA
- Founding
- 02/1945
- Data as of
- 12/2022
- EIN
- 23-0754140
Organization Overview
Kennet Square Golf & Country Club is located in Kennett Square, PA. The organization was established in 1945. 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 12/2022, Kennet Square Golf & Country Club employed 125 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kennet Square Golf & 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 12/2022, Kennet Square Golf & Country Club generated $5.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $4.9m during the year ending 12/2022. While expenses have increased by 4.0% per year over the past 8 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 A FAMILY FRIENDLY ATMOSPHERE WHILE ENJOYING GOLF, RACQUETS, POOL AND DINING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD AND BEVERAGE
GOLF
OTHER SPORTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Egan President | Officer | 1 | $0 |
Paul Geary Vice President | Officer | 1 | $0 |
Bob Fisher Treasurer | Officer | 1 | $0 |
Shawn Heller Secretary | Officer | 1 | $0 |
Paul Stead Grounds Superintendent | 40 | $201,258 |
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 | $14,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,000 |
| Total Program Service Revenue | $5,646,070 |
| Investment income | $7,203 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$464,949 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,312,156 |
| 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 | $1,748,865 |
| Pension plan accruals and contributions | $53,814 |
| Other employee benefits | $130,004 |
| Payroll taxes | $165,940 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,994 |
| Fees for services: Accounting | $15,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $13,780 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $156,655 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,925 |
| Interest | $194,634 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $613,824 |
| Insurance | $95,834 |
| All other expenses | $373,740 |
| Total functional expenses | $4,942,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $859,118 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,877,862 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $74,356 |
| Prepaid expenses and deferred charges | $72,312 |
| Net Land, buildings, and equipment | $8,318,772 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $392,679 |
| Total assets | $12,595,099 |
| Accounts payable and accrued expenses | $279,509 |
| Grants payable | $0 |
| Deferred revenue | $2,651,415 |
| 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 | $5,763,535 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $601,679 |
| Total liabilities | $9,296,138 |
| Net assets without donor restrictions | $3,174,661 |
| Net assets with donor restrictions | $124,300 |
| 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 | $12,595,099 |