Knollwood Club
- Assets
- $24.7m
- Revenue
- $9.1m
- Investments
- $0.0
- Employees
- 232
- Location
- Lake Forest, IL
- Founding
- 12/1946
- Data as of
- 12/2022
- EIN
- 36-1332570
Organization Overview
Knollwood Club is located in Lake Forest, IL. The organization was established in 1946. 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, Knollwood Club employed 232 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knollwood 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, Knollwood Club generated $9.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $7.0m during the year ending 12/2022. 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
AN ORGANIZATION FORMED TO PROVIDE PROGRAMS AND FACILITIES FOR THE SOCIAL AND RECREATIONAL BENEFIT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE RESTAURANT AND CLUBHOUSE, GOLF, SWIMMING AND TENNIS FACILITIES AND PROGRAMS FOR THE SOCIAL AND RECREATIONAL BENEFIT OF ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Harper General Manager | 40 | $307,389 | |
Wade Gurysh Golf Professional | 40 | $245,086 | |
Drew Barnett Grounds Superintendent | 40 | $192,341 | |
Daniel Vogel Exec. Chef | 40 | $133,157 | |
Sarah Winston Controller | 40 | $138,766 | |
Ted Ahern Director | Trustee | 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 | $10,011,184 |
| Investment income | $5,776 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$736,167 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$162,441 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,118,352 |
| 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. | $871,841 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,775,196 |
| Pension plan accruals and contributions | $43,547 |
| Other employee benefits | $468,156 |
| Payroll taxes | $198,618 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $102,656 |
| Advertising and promotion | $0 |
| Office expenses | $57,866 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $412,692 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,273 |
| Interest | $149,736 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,336,344 |
| Insurance | $169,412 |
| All other expenses | $219,350 |
| Total functional expenses | $7,006,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,000 |
| Savings and temporary cash investments | $1,523,248 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,153,636 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $473,953 |
| Prepaid expenses and deferred charges | $482,496 |
| Net Land, buildings, and equipment | $18,979,105 |
| Investments—publicly traded securities | $49,829 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $68,074 |
| Total assets | $24,740,341 |
| Accounts payable and accrued expenses | $1,616,186 |
| Grants payable | $0 |
| Deferred revenue | $1,500,168 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $3,187,924 |
| Other liabilities | $228,908 |
| Total liabilities | $6,533,186 |
| Net assets without donor restrictions | $18,207,155 |
| 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 | $24,740,341 |