Lakes Golf & Country Club Inc
- Assets
- $11.2m
- Revenue
- $7.2m
- Investments
- $0.0
- Employees
- 351
- Location
- Westerville, OH
- Founding
- 04/1991
- Data as of
- 10/2020
- EIN
- 31-1266644
Organization Overview
Lakes Golf & Country Club Inc is located in Westerville, OH. The organization was established in 1991. 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 10/2020, Lakes Golf & Country Club Inc employed 351 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakes Golf & Country Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 10/2020, Lakes Golf & Country Club Inc generated $7.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $6.3m during the year ending 10/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE GOLF, RACQUET SPORTS, SWIMMING, FITNESS FACILITIES, AND A CLUBHOUSE TO ITS MEMBERSFOR THEIR ENJOYMENT AND TO ENCOURAGE FAMILY AND SOCIAL INTERACTION AMONG ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF RECREATION SERVICES AND EXPENDITURES FOR UPKEEP OF THE FACILITIES USED BY MEMBERS AND THEIR GUESTS INCLUDING GOLF, CLUBHOUSE, RACQUET SPORTS, SWIMMING POOL AND ATHLETIC FACILITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James P Spragg Chief Operations Officer | Officer | 50 | $254,119 |
Christopher Haunty Greens Superintendent | 50 | $134,824 | |
Edward Kline Head Golf Professional | 40 | $104,093 | |
Tod J Ortlip Trustee | Trustee | 5 | $5,255 |
Leigh Allen Trustee | Trustee | 5 | $0 |
Betsy Ortlip Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,305,531 |
| Investment income | $21,306 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $29,771 |
| Net Gain/Loss on Asset Sales | $6,737 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,233,023 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,221,062 |
| Statement of Expenses | |
|---|---|
| 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. | $261,637 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,275,564 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $210,123 |
| Payroll taxes | $266,602 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,395 |
| 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 | $0 |
| Advertising and promotion | $215,820 |
| Office expenses | $105,714 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,063,517 |
| 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 | $562,019 |
| Insurance | $70,356 |
| All other expenses | $0 |
| Total functional expenses | $6,326,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,513,906 |
| Savings and temporary cash investments | $1,464,181 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,323,623 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $194,790 |
| Prepaid expenses and deferred charges | $32,250 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,239,144 |
| Accounts payable and accrued expenses | $828,760 |
| Grants payable | $0 |
| Deferred revenue | $434,509 |
| 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 | -$22,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,240,769 |
| 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 | $12,756,290 |
| Total liabilities and net assets/fund balances | $9,998,375 |
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