Lakewood Country Club Company
- Assets
- $13.2m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 220
- Location
- Westlake, OH
- Founding
- 03/1965
- Data as of
- 12/2021
- 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 12/2021, Lakewood Country Club Company employed 220 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 12/2021, Lakewood Country Club Company generated $7.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $7.0m during the year ending 12/2021. While expenses have increased by 1.2% 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
2021
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.
TENNIS & SWIMMING - COSTS INCURRED TO OFFER THE FACILITIES TO MEMBERS.
GOLF - EXPENSES INCURRED IN THE MAINTENANCE AND IMPROVEMENT OF THE CLUB'S GOLF FACILITIES.
OTHER PROGRAMS - EXPENSES INCURRED FOR THE COST OF PROVIDING TOURNAMENTS AND ENTERTAINMENT FOR THE MEMBERS AS WELL AS LOCKER ROOM AND CLUBHOUSE FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Spencer General Manager | Officer | 40 | $117,788 |
Tom Waitrovich Director Of Golf | Officer | 40 | $116,671 |
Dianne Morgan Controller | Officer | 40 | $86,073 |
Greg Rufus Vice President | OfficerTrustee | 1 | $0 |
Brian Kelly Treasurer | OfficerTrustee | 1 | $0 |
Tim Campbell President | OfficerTrustee | 1 | $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 | $6,673,480 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,988 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $443,163 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,948,852 |
| 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. | $320,532 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,167,342 |
| Pension plan accruals and contributions | $7,024 |
| Other employee benefits | $219,320 |
| Payroll taxes | $196,637 |
| 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 | $27,735 |
| Advertising and promotion | $0 |
| Office expenses | $560,905 |
| Information technology | $60,546 |
| Royalties | $0 |
| Occupancy | $555,167 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $430,046 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $626,914 |
| Insurance | $82,749 |
| All other expenses | $287,896 |
| Total functional expenses | $7,001,194 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $635,369 |
| Savings and temporary cash investments | $275,973 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,301,921 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $169,414 |
| Prepaid expenses and deferred charges | $29,994 |
| Net Land, buildings, and equipment | $10,819,566 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,232,237 |
| Accounts payable and accrued expenses | $620,746 |
| Grants payable | $0 |
| Deferred revenue | $7,948 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $4,232,312 |
| Secured mortgages and notes payable | $5,477,720 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $390,579 |
| Total liabilities | $10,729,305 |
| Net assets without donor restrictions | $2,502,932 |
| 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 | $13,232,237 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lake Naomi Club Pocono Pines, PA | $31,181,948 | $14,377,164 |
Overbrook Golf Club Bryn Mawr, PA | $25,446,093 | $10,373,823 |
Academy Of Model Aeronautics Ama Muncie, IN | $14,826,959 | $9,207,922 |
American Philatelic Society Bellefonte, PA | $5,023,195 | $3,137,752 |
Lancaster Country Club Lancaster, PA | $38,766,757 | $8,916,109 |
Lakewood Country Club Company Westlake, OH | $13,232,237 | $7,948,852 |
Idle Hour Country Club Inc Lexington, KY | $13,827,877 | $6,560,806 |
Travis Pointe Country Club Ann Arbor, MI | $3,693,496 | $5,450,943 |
Country Club Of York York, PA | $13,796,902 | $5,721,703 |
Portage Country Club Akron, OH | $15,375,950 | $5,578,447 |
Tau Kappa Epsilon Fraternity Inc Indianapolis, IN | $5,851,438 | $5,058,540 |
Summit Hills Country Club Inc Crestview Hills, KY | $10,857,837 | $5,231,377 |