Lakewood Country Club Company
- Assets
- $13.5m
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 207
- Location
- Westlake, OH
- Founding
- 03/1965
- Data as of
- 12/2022
- EIN
- 34-0348570
Organization Overview
Lakewood Country Club Company is located in Westlake, OH. The organization was established in 1965. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Lakewood Country Club Company employed 207 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakewood Country Club Company 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, Lakewood Country Club Company generated $8.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $7.5m during the year ending 12/2022. While expenses have increased by 2.2% 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
LAKEWOOD COUNTRY CLUB WILL EXCEED MEMBER AND GUEST EXPECTATIONS BY PROVIDING EXCEPTIONAL SOCIAL AND RECREATIONAL EXPERIENCES THROUGH THE FINEST STAFF, SERVICES, AMENITIES, FACILITIES, AND ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTAURANT AND BAR - EXPENSES INCURRED IN PROVIDING FOOD AND BEVERAGES TO MEMBERS IN A SOCIAL CLUB SETTING.
OTHER PROGRAMS - EXPENSES INCURRED FOR THE COST OF PROVIDING TOURNAMENTS AND ENTERTAINMENT FOR THE MEMBERS AS WELL AS LOCKER ROOM AND CLUBHOUSE FACILITIES.
TENNIS & SWIMMING - COSTS INCURRED TO OFFER THE FACILITIES TO MEMBERS.
GOLF - EXPENSES INCURRED IN THE MAINTENANCE AND IMPROVEMENT OF THE CLUB'S GOLF FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Rufus Vice President | OfficerTrustee | 1 | $0 |
Brian Kelly Treasurer | OfficerTrustee | 1 | $0 |
Tim Campbell President | OfficerTrustee | 1 | $0 |
Adam Morris Director | Trustee | 1 | $0 |
Tim Ryan Director | Trustee | 1 | $0 |
Edward Hadaway Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,055,227 |
| 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 | $4,055,227 |
| Total Program Service Revenue | $3,134,376 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $805,158 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $454,191 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,469,081 |
| 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. | $601,219 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,140,678 |
| Pension plan accruals and contributions | $7,630 |
| Other employee benefits | $185,907 |
| Payroll taxes | $230,414 |
| 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 | $22,046 |
| Advertising and promotion | $0 |
| Office expenses | $605,339 |
| Information technology | $55,842 |
| Royalties | $0 |
| Occupancy | $602,887 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $421,572 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $690,961 |
| Insurance | $120,055 |
| All other expenses | $307,692 |
| Total functional expenses | $7,515,187 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $805,279 |
| Savings and temporary cash investments | $322,870 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,425,591 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $193,981 |
| Prepaid expenses and deferred charges | $26,227 |
| Net Land, buildings, and equipment | $10,270,156 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $422,994 |
| Total assets | $13,467,098 |
| Accounts payable and accrued expenses | $639,983 |
| Grants payable | $0 |
| Deferred revenue | $9,493 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $3,578,434 |
| Secured mortgages and notes payable | $4,997,072 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $984,031 |
| Total liabilities | $10,209,013 |
| Net assets without donor restrictions | $3,258,085 |
| 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 | $13,467,098 |