Faribault Golf & Country Club
- Assets
- $2.0m
- Revenue
- $879.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Faribault, MN
- Founding
- 08/1945
- Data as of
- 12/2021
- EIN
- 41-0627645
Organization Overview
Faribault Golf & Country Club is located in Faribault, MN. The organization was established in 1945. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faribault Golf & 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 12/2021, Faribault Golf & Country Club generated $879.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $901.1k during the year ending 12/2021. While expenses have increased by 0.8% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
RECREATION, PLEASURE AND SOCIAL ACTIVITIES FOR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOLF COURSE & GROUNDS
POOL EXPENSES & MAINTENANCE
GENERAL CLUB FACILITY
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vance Vinar Jr President | Officer | 5 | $0 |
Rick Schmitz Treasurer | Officer | 5 | $0 |
Greg Lee Vice President | Officer | 1 | $0 |
Seth Prescher Secretary | Officer | 1 | $0 |
Dennis Haskin Board Member | Trustee | 1 | $0 |
Steve Hunter Board Member | Trustee | 1 | $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 | $556,770 |
| Investment income | $7,009 |
| 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 | $299,370 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $879,224 |
| 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 | $364,768 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,725 |
| Payroll taxes | $38,291 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $521 |
| Fees for services: Accounting | $4,355 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,331 |
| Office expenses | $9,658 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,014 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $96,370 |
| Insurance | $40,176 |
| All other expenses | $144,432 |
| Total functional expenses | $901,129 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $308,377 |
| Savings and temporary cash investments | $547,072 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,538 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $18,514 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,046,324 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,953,825 |
| Accounts payable and accrued expenses | $8,172 |
| 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 | $184,267 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $56,655 |
| Total liabilities | $249,094 |
| 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 | $1,704,731 |
| Total liabilities and net assets/fund balances | $1,953,825 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Interlachen Country Club Edina, MN | $38,666,862 | $19,906,229 |
Wisconsin Club Inc Milwaukee, WI | $13,631,132 | $7,676,658 |
Milwaukee Country Club River Hills, WI | $13,393,861 | $8,032,632 |
North Shore Country Club Mequon, WI | $12,385,301 | $7,356,496 |
Woodhill Country Club Wayzata, MN | $12,252,723 | $5,942,697 |
Green Bay Country Club Inc Green Bay, WI | $11,578,714 | $7,130,925 |
Minneapolis Club Inc Minneapolis, MN | $13,677,806 | $3,594,595 |
Spring Hill Golf Club Wayzata, MN | $14,177,799 | $4,336,296 |
Chenequa Country Club Inc Hartland, WI | $8,162,285 | $3,577,706 |
Tuckaway Country Club Inc Franklin, WI | $8,452,752 | $4,849,926 |
Lake Geneva Country Club Fontana, WI | $6,852,229 | $4,168,458 |
West Bend Country Club West Bend, WI | $5,974,564 | $4,364,708 |