Palisades Park Country Club
- Assets
- $4.0m
- Revenue
- $615.7k
- Investments
- $0.0
- Employees
- 23
- Location
- Covert, MI
- Founding
- 12/1946
- Data as of
- 12/2023
- EIN
- 38-1276551
Organization Overview
Palisades Park Country Club is located in Covert, MI. The organization was established in 1946. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Palisades Park Country Club employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palisades Park Country Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Palisades Park Country Club generated $615.7k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $544.4k during the year ending 12/2023. While expenses have increased by 1.4% per year over the past 9 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
PROVIDE A SAFE ENJOYABLE ENVIRONMENT FOR MEMBERS TO ENJOY NATURAL SURROUNDINGS, RECREATIONAL ACTIVITIES, AND COMRADESHIP TOGETHER WITH OTHERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED AN ENVIRONMENT TO ALLOW FOR THE QUIET ENJOYMENT OF NATURAL SURROUNDINGS OF LAKE, BEACH, AND WOODED AREAS (200 MEMBERS). TO ENJOY TENNIS, BOATING, PICNICS, AND OTHER FAMILY RECREATIONAL ACTIVITIES. TO ENJOY COMRADESHIP AND TIME SPENT TOGETHER WITH OTHERS WITHIN THE PALISADES PARK AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Therese Mccarthy Alsterda Secretary | OfficerTrustee | 2 | $0 |
Thomas Jeffers III Buildings & | Trustee | 2 | $0 |
John Kleb Treasurer | OfficerTrustee | 2 | $0 |
Joan Mailander Membership | Trustee | 2 | $0 |
Brian Roche President | OfficerTrustee | 2 | $0 |
Dave Simonelli Legal Affair | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $526,422 |
| 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 | $526,422 |
| Total Program Service Revenue | $15,632 |
| Investment income | $15,811 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,000 |
| Net Gain/Loss on Asset Sales | $18,438 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $32,248 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $615,681 |
| 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 | $183,465 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,750 |
| Payroll taxes | $18,404 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,458 |
| Fees for services: Accounting | $18,094 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,528 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $841 |
| Information technology | $3,468 |
| Royalties | $0 |
| Occupancy | $111,539 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $266 |
| Interest | $3 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $112,012 |
| Insurance | $35,550 |
| All other expenses | $15,617 |
| Total functional expenses | $544,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,194 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,221,422 |
| Investments—publicly traded securities | $752,868 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,994,484 |
| Accounts payable and accrued expenses | $19,166 |
| Grants payable | $0 |
| Deferred revenue | $9,675 |
| 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 | $8,380 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $37,221 |
| 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 | $3,957,263 |
| Total liabilities and net assets/fund balances | $3,994,484 |