Terrace Park Country Club
- Assets
- $7.4m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 162
- Location
- Milford, OH
- Founding
- 04/1949
- Data as of
- 12/2022
- EIN
- 31-0465970
Organization Overview
Terrace Park Country Club is located in Milford, OH. The organization was established in 1949. 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, Terrace Park Country Club employed 162 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Terrace Park 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, Terrace Park Country Club generated $3.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $3.2m during the year ending 12/2022. While expenses have increased by 0.8% 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
PRIVATE GOLF COUNTRY CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOLF COURSE & RELATED ACTIVITIES
CLUBHOUSE AND RELATED ACTIVITIES
SWIMMING POOL AND RELATED ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Landa President/personnel Chair | OfficerTrustee | 20 | $0 |
Jim Buck VP & Green Committee Chair | OfficerTrustee | 5 | $0 |
Tony Amicon Treasurer/finance Chair | OfficerTrustee | 5 | $0 |
Becky Seurkamp Membership & Marketing (termed) | OfficerTrustee | 5 | $0 |
Tom Anthony Secretary, House & Entertainment | OfficerTrustee | 5 | $0 |
Tim Dunn Strategic Planning Committee | Trustee | 5 | $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 | $3,331,210 |
| Investment income | $4,239 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,893 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$74,906 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,827,080 |
| 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. | $133,740 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $878,155 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $41,083 |
| Payroll taxes | $90,424 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,486 |
| Advertising and promotion | $17,308 |
| Office expenses | $54,793 |
| Information technology | $42,102 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $397 |
| Interest | $213,771 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $543,006 |
| Insurance | $47,387 |
| All other expenses | $341,044 |
| Total functional expenses | $3,178,252 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $860,014 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $454,798 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $41,226 |
| Prepaid expenses and deferred charges | $38,488 |
| Net Land, buildings, and equipment | $4,929,387 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,061,307 |
| Total assets | $7,385,220 |
| Accounts payable and accrued expenses | $232,705 |
| Grants payable | $0 |
| Deferred revenue | $303,860 |
| 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 | $4,262,327 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $571,135 |
| Total liabilities | $5,370,027 |
| Net assets without donor restrictions | $2,013,485 |
| Net assets with donor restrictions | $1,708 |
| 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 | $7,385,220 |