Sheaffer Memorial Golf Park
- Assets
- $453.0k
- Revenue
- $507.2k
- Investments
- $0.0
- Employees
- 15
- Location
- Fort Madison, IA
- Founding
- 02/1947
- Data as of
- 12/2022
- EIN
- 42-0862699
Organization Overview
Sheaffer Memorial Golf Park is located in Fort Madison, IA. The organization was established in 1947. According to its NTEE Classification (N6A) the organization is classified as: Golf, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Sheaffer Memorial Golf Park employed 15 individuals. Sheaffer Memorial Golf Park is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Sheaffer Memorial Golf Park generated $507.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $561.6k during the year ending 12/2022. 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 ORIGINAL TRUST AGREEMENT REQUIRED THE TRUSTEES TO DISTRIBUTE THE TRUST ESTATE SOLELY TO THE CITY OF FORT MADISON FOR PUBLIC IMPROVEMENT OR IMPROVEMENTS AS THEY CITY OF FORT MADISON MAY LEGALLY AND FINANCIALLY UNDERTAKE. FUNDS WERE CONTRIBUTED AND LAND WAS PURCHASED AND A GOLF COURSE WAS BUILT. THE GOLF COURSE IS TO BE USED BY ANY AND ALL OF THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHEAFFER MEMORIAL GOLF PARK FURNISHES AND MAINTAINS RECREATIONAL FACILITIES FOR THE GENERAL PUBLIC WELFARE AND USE OF THE ENTIRE FORT MADISON COMMUNITY
TO FURTHER THE ORGANIZATIONS EXEMPT PURPOSE AS WELL AS ADVERTISE THE ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Skewes Trustee | Trustee | 1 | $0 |
George Kreidler Trustee | Trustee | 1 | $0 |
Chuck Kempker Trustee | Trustee | 1 | $0 |
Jens Carlsen Trustee | Trustee | 1 | $0 |
Doug Snaadt Trustee | Trustee | 1 | $0 |
Brock Umthun Trustee | 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 | $8,066 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,066 |
| Total Program Service Revenue | $432,557 |
| Investment income | $6 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $825 |
| 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 | $65,699 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $507,153 |
| 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 | $151,177 |
| Other salaries and wages | $28,544 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,815 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,070 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,582 |
| Office expenses | $2,151 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,498 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,619 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,961 |
| Insurance | $23,280 |
| All other expenses | $42,131 |
| Total functional expenses | $561,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,004 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,211 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,524 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $384,237 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $452,976 |
| Accounts payable and accrued expenses | $22,294 |
| Grants payable | $0 |
| Deferred revenue | $78,030 |
| 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 | $262,133 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $29,574 |
| Total liabilities | $392,031 |
| 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 | $60,945 |
| Total liabilities and net assets/fund balances | $452,976 |