Lake Calhoun Assn Inc
- Assets
- $506.7k
- Revenue
- $225.1k
- Investments
- $0.0
- Employees
- 7
- Location
- Galva, IL
- Founding
- 10/1926
- Data as of
- 12/2023
- EIN
- 36-1355462
Organization Overview
Lake Calhoun Assn Inc is located in Galva, IL. The organization was established in 1926. According to its NTEE Classification (C03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Environment and related organizations. As of 12/2023, Lake Calhoun Assn Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Calhoun Assn Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Lake Calhoun Assn Inc generated $225.1k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $167.3k during the year ending 12/2023. While expenses have increased by 3.0% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LAKE CALHOUN ASSOCIATION INC OPERATES A GOLF COURSE
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKE CALHOUN ASSOCIATION OPERATES A GOLF COURSE FOR ITS MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Anderson President | Officer | 2 | $2,054 |
Chet Travis Co Vice Pres | Officer | 2 | $0 |
Gary Lumberry Director | Trustee | 2 | $0 |
Art Goodrich Sec Protem,vice President | Officer | 2 | $1,242 |
Keith Luymes 1st Vice President | Officer | 2 | $0 |
Mitch Junis Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $62,584 |
| Fundraising events | $70,500 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,290 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $135,374 |
| Total Program Service Revenue | $33,598 |
| Investment income | $83 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $31,282 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $22,243 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $225,141 |
| 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. | $7,428 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $46,552 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,029 |
| Payroll taxes | $6,071 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $884 |
| Advertising and promotion | $382 |
| Office expenses | $755 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,276 |
| Travel | $16 |
| 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 | $14,717 |
| Insurance | $7,397 |
| All other expenses | $35,090 |
| Total functional expenses | $167,344 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $130,147 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $478 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $376,081 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $506,706 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $506,706 |
| Total liabilities and net assets/fund balances | $506,706 |