Ely Golf Club Corporation
- Assets
- $540.3k
- Revenue
- $217.1k
- Investments
- $0.0
- Employees
- 9
- Location
- Ely, MN
- Founding
- 08/1960
- Data as of
- 12/2022
- EIN
- 41-0810763
Organization Overview
Ely Golf Club Corporation is located in Ely, MN. The organization was established in 1960. According to its NTEE Classification (N6A) the organization is classified as: Golf, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Ely Golf Club Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ely Golf Club Corporation 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, Ely Golf Club Corporation generated $217.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $234.0k during the year ending 12/2022. While expenses have increased by 1.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE COMMUNITY WITH A GOLF COURSE FOR THE GENERAL PUBLIC USE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE GOLF COURSE FOR USE BY THE COMMUNITY AND GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori Casey Secretary | OfficerTrustee | 1 | $0 |
Len Clewett President | OfficerTrustee | 1 | $0 |
Linda Vandenbranden Treasurer | OfficerTrustee | 1 | $0 |
Frank Guldbrandsen Director | Trustee | 1 | $0 |
Dawn Rowe Director | Trustee | 1 | $0 |
Louis Gerzin Director | 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 | $3,020 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,020 |
| Total Program Service Revenue | $205,132 |
| Investment income | $210 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,200 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,429 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $217,090 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,181 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $233,992 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,514 |
| Savings and temporary cash investments | $94,374 |
| 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 | $3,352 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $426,034 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $540,274 |
| Accounts payable and accrued expenses | $12,975 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $12,975 |
| Net assets without donor restrictions | $527,299 |
| 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 | $540,274 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minnesota Golf Association Inc Edina, MN | $1,691,955 | $3,127,420 |
Oconomowoc Golf Club Oconomowoc, WI | $3,718,585 | $2,780,073 |
Wisconsin State Golf Association Inc West Allis, WI | $3,484,583 | $2,661,468 |
Ridge Golf Association Inc Sioux Center, IA | $763,275 | $2,061,022 |
Wisconsin Section Of The Prfsnl Golfers Assoc Of Amer Inc West Allis, WI | $2,346,831 | $1,993,640 |
Golf Minot Inc Minot, ND | $8,324,634 | $1,508,642 |
Detroit Country Club Inc Detroit Lakes, MN | $2,607,069 | $1,763,955 |
Green Valley Floyd Golf Corp Sioux City, IA | $1,732,109 | $1,490,611 |
Minot Junior Golf Association Inc Minot, ND | $6,199,667 | $1,820,730 |
Wpga Junior Foundation Inc West Allis, WI | $600,250 | $790,186 |
Interlaken Golf Club Inc Fairmont, MN | $2,511,682 | $634,632 |
Iola Community Golf Club Inc Iola, WI | $1,212,942 | $729,459 |