Racquet Club Of Chicago
- Assets
- $13.3m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 93
- Location
- Chicago, IL
- Founding
- 07/1941
- Data as of
- 02/2022
- EIN
- 36-1659860
Organization Overview
Racquet Club Of Chicago is located in Chicago, IL. The organization was established in 1941. 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 02/2022, Racquet Club Of Chicago employed 93 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Racquet Club Of Chicago is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 02/2022, Racquet Club Of Chicago generated $5.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $5.1m during the year ending 02/2022. 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
A PRIVATE MEMBERSHIP CLUB TO SERVE THE SOCIAL AND RECREATIONAL NEEDS FOR THE BENEFIT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A PRIVATE SOCIAL CLUB PROVIDING DINING AND RACQUET FACILITIES FOR THE BENEFIT OF ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Duggan General Manager | Officer | 40 | $291,091 |
Miguel Coronel Executive Chef | 40 | $186,492 | |
Christopher Brand Chef Emiritus | 40 | $147,651 | |
John Cashman Head Pro | 40 | $122,314 | |
Marcelita Lee Controller | 40 | $113,315 | |
Jack A Brown President | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Berglund Construction Painting | 2/27/17 | $276,766 |
Climate Control Of Chicago Inc Hvac Rooftop Install | 2/27/17 | $130,300 |
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 | $3,999,994 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $71,702 |
| 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 | $897,569 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,969,265 |
| 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. | $314,894 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,249,661 |
| Pension plan accruals and contributions | $98,891 |
| Other employee benefits | $409,698 |
| Payroll taxes | $241,221 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,500 |
| Fees for services: Accounting | $24,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $35,336 |
| Information technology | $37,076 |
| Royalties | $0 |
| Occupancy | $474,375 |
| Travel | $4,505 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,754 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $379,717 |
| Insurance | $0 |
| All other expenses | $262,442 |
| Total functional expenses | $5,142,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,598,958 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $439,191 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $595,560 |
| Prepaid expenses and deferred charges | $151,358 |
| Net Land, buildings, and equipment | $8,734,779 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,790,256 |
| Total assets | $13,310,102 |
| Accounts payable and accrued expenses | $1,187,921 |
| Grants payable | $0 |
| Deferred revenue | $346,960 |
| 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 | $610,992 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $539,621 |
| Total liabilities | $2,685,494 |
| Net assets without donor restrictions | $10,624,608 |
| 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 | $13,310,102 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Racquet Club Of Chicago has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Tully Family Foundation Chicago, IL PURPOSE: SOCIAL | $500 |
Endowment Analysis
| Beg. Balance | $961,480 |
| Earnings | $16,387 |
| Net Contributions | $52,781 |
| Other Expense | $14,379 |
| Ending Balance | $1,016,269 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Union League Club Of Chicago Chicago, IL | $26,749,429 | $20,158,030 |
Missouri Athletic Club St Louis, MO | $22,640,194 | $18,091,674 |
Alpha Chi Omega Fraternity Inc Indianapolis, IN | $29,119,055 | $16,507,869 |
Butterfield Country Club Oak Brook, IL | $37,524,568 | $14,281,799 |
University Club Of Chicago Chicago, IL | $40,558,650 | $14,990,991 |
Bellerive Country Club Saint Louis, MO | $30,118,733 | $15,442,843 |
Alpha Chi Omega National Housing Corporation Indianapolis, IN | $68,106,791 | $16,027,721 |
National Association Of Intercollegiate Athletics Kansas City, MO | $12,204,653 | $13,287,204 |
Big Spring Country Club Inc Louisville, KY | $27,849,226 | $12,028,840 |
Westmoreland Country Club Wilmette, IL | $31,536,434 | $12,960,463 |
St Louis Country Club Saint Louis, MO | $23,333,122 | $12,315,220 |
Skokie Country Club Glencoe, IL | $25,480,990 | $12,823,319 |