The Old Club
- Assets
- $7.4m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 62
- Location
- Harsens Island, MI
- Founding
- 10/1946
- Data as of
- 09/2023
- EIN
- 38-0892300
Organization Overview
The Old Club is located in Harsens Island, MI. 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 09/2023, Old Club employed 62 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 09/2023, Old Club generated $2.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $2.0m during the year ending 09/2023. While expenses have increased by 2.1% per year over the past 8 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
TO PROVIDE A PRIVATE ISLAND SANCTUARY WITH A SUPERIOR STAFF TO A SELECT GROUP OF INDIVIDUALS WHO SEEK A NATURAL SETTING FOR RECREATION, FRIENDSHIP AND FAMILY GROWTH IN A CENTURY OLD TRADITION OF EXCELLENT SERVICE AND RUSTIC CHARM
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTAURANT AND BAR SERVES APPROXIMATELY 150 MEMBERS
DOCK RENTAL
ROOMS RENTAL
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 |
|---|---|---|---|
Brian Litch Commodore / Fleet Surgeon | OfficerTrustee | 10 | $0 |
Jamie Pangborn Vice Commodore | OfficerTrustee | 10 | $0 |
Sean Southers Treasurer | OfficerTrustee | 10 | $0 |
Alan Whitman Secretary | OfficerTrustee | 10 | $0 |
Michael Badalamente Fleet Captain | OfficerTrustee | 10 | $0 |
Philip Trupiano Director | Trustee | 10 | $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 | $500,574 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $500,574 |
| Total Program Service Revenue | $892,018 |
| Investment income | $19,277 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $507,892 |
| Net Gain/Loss on Asset Sales | -$10,431 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$37,761 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,936,477 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $659,187 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $70,532 |
| Payroll taxes | $63,889 |
| 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 | $0 |
| Advertising and promotion | $4,903 |
| Office expenses | $3,900 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $102,031 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $39,979 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $402,465 |
| Insurance | $85,475 |
| All other expenses | $166,759 |
| Total functional expenses | $2,004,538 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,115,606 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $833,943 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $168,194 |
| Prepaid expenses and deferred charges | $61,126 |
| Net Land, buildings, and equipment | $5,262,753 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,441,622 |
| Accounts payable and accrued expenses | $420,250 |
| 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 | $745,000 |
| Other liabilities | $0 |
| Total liabilities | $1,165,250 |
| Net assets without donor restrictions | $6,198,445 |
| Net assets with donor restrictions | $77,927 |
| 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 | $7,441,622 |