Inverness Golf Club
- Assets
- $19.0m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 201
- Location
- Inverness, IL
- Founding
- 03/1959
- Data as of
- 12/2022
- EIN
- 36-2306401
Organization Overview
Inverness Golf Club is located in Inverness, IL. The organization was established in 1959. 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, Inverness Golf Club employed 201 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inverness Golf 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, Inverness Golf Club generated $7.0m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $6.7m during the year ending 12/2022. While expenses have increased by 5.2% per year over the past 4 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
THE CLUB IS ORGANIZED FOR SOCIAL, RECREATION, AND OTHER NONPROFITABLE PURPOSES IN ACCORDANCE WITH INTERNAL REVENUE CODE SECTION 501(C)(7).
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF GOLF COURSE, RESTAURANT, SWIMMING POOL, AND TENNIS COURTS FOR THE RECREATION OF CLUB MEMBERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Sykes President | OfficerTrustee | 3 | $0 |
Greg Baur Vice President | OfficerTrustee | 3 | $0 |
Scott Beutler Treasurer | OfficerTrustee | 3 | $0 |
William Vainisi Secretary | OfficerTrustee | 3 | $0 |
Fred Castillo Director | Trustee | 3 | $0 |
Kevin Conlee Director | Trustee | 3 | $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 | $3,661,483 |
| Investment income | $432 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,659,746 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,033,686 |
| 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. | $196,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,213,052 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,111 |
| Payroll taxes | $811,880 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,713 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $139,339 |
| Advertising and promotion | $313 |
| Office expenses | $379,838 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $896,178 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,245 |
| Interest | $86,562 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $542,352 |
| Insurance | $117,346 |
| All other expenses | $124,641 |
| Total functional expenses | $6,730,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,848,175 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $906,779 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $276,493 |
| Prepaid expenses and deferred charges | $147,620 |
| Net Land, buildings, and equipment | $14,668,975 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $126,516 |
| Total assets | $18,974,558 |
| Accounts payable and accrued expenses | $1,276,389 |
| Grants payable | $0 |
| Deferred revenue | $289,826 |
| 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 | $6,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $126,516 |
| Total liabilities | $7,692,731 |
| Net assets without donor restrictions | $11,281,827 |
| 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 | $18,974,558 |