Cutty Okoboji Resort Club
- Assets
- $3.6m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 70
- Location
- Spirit Lake, IA
- Founding
- 04/1991
- Data as of
- 09/2023
- EIN
- 42-1186498
Organization Overview
Cutty Okoboji Resort Club is located in Spirit Lake, IA. The organization was established in 1991. 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, Cutty Okoboji Resort Club employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cutty Okoboji Resort 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, Cutty Okoboji Resort Club generated $2.5m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $2.6m during the year ending 09/2023. While expenses have increased by 5.2% per year over the past 4 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
CUTTYS OKOBOJI RESORT CLUB IS COMMITTED TO PROVIDING FAMILY RECREATION FACILITIES FOR CAMPING, CRAFTS, SPORTS AND SOCIAL ACTIVITIES FOR ITS MEMBERS AND GUESTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD SERVICE: FOOD WAS AVAILABLE FOR PURCHASE FROM THE MENU, FRIDAY THRU SUNDAY DURING THE OFF-SEASON AND THURSDAY THRU MONDAY IN THE SUMMER. IN ADDITION TO THE SNACKBAR, SPECIAL EVENTS WERE HELD THROUGHOUT THE YEAR INCLUDING VOLUNTEER-HOSTED BREAKFASTS AND ICE CREAM SOCIALS ON THE WEEKENDS AND BOARD-HOSTED FRIDAY NIGHT BARBEQUES. WE ALSO HOSTED A RIBFEST WHERE OUR MEMBERS WERE ABLE TO COMPETE FOR THE HONOR OF BEST RIBS, AND THE MEMBERS WERE ABLE TO PURCHASE THE RIBS ALONG WITH SIDES. THESE ARE LOW-COST OPTIONS FOR THE CONVENIENCE AND ENJOYMENT OF THE MEMBERSHIP.
ACTIVITIES & ENTERTAINMENT: ACTIVITIES AND ENTERTAINMENT EVENTS WERE PLANNED, MAINLY FOR FRIDAY THRU SUNDAY, FOR THE ENJOYMENT OF OUR MEMBERS. ACTIVITIES INCLUDED CRAFTS, GAMES, BINGO, CARNIVALS, MINI-GOLF TOURNAMENTS, SCAVENGER HUNTS, BEAN BAGS, OUTDOOR MOVIES, PARADES, ETC. ENTERTAINMENT INCLUDED KARAOKE AND OTHER MUSICAL ENTERTAINMENT, PONY WAGON RIDES, DUNK TANK, INFLATABLES, AND TRIVIA NIGHTS. THESE ACTIVITIES AND EVENTS ARE STRICTLY AN AMENITY FOR THE ENJOYMENT OF THE MEMBERSHIP AND ARE NOT MONEY-MAKERS FOR THE RESORT. CRAFTS, BINGO, AND CARNIVALS HAVE A SMALL CHARGE TO PAY FOR THE COST OF SUPPLIES AND PRIZES, BUT MOST OTHER EVENTS ARE PROVIDED AT NO COST TO THE MEMBERS.
LOW-COST CAMPING & ACCOMMODATIONS: THE RESORT OFFERS LOW-COST ACCOMMODATIONS AND CAMPING FOR ITS MEMBERS IN THE OTHERWISE EXPENSIVE TOURIST AREA OF THE IOWA GREAT LAKES. MEMBERS HAVE ACCESS TO RENTAL ACCOMMODATIONS AT RATES RANGING FROM $27.50 TO $120 PER NIGHT, BASED ON SEASON, WEEKDAY VS WEEKEND, AND TYPE OF UNIT. FULL HOOKUP CAMPSITES COST $17 PER NIGHT IN FISCAL YEAR 2023, WHICH INCLUDES WATER, SEWER, ELECTRICITY AND CABLE TV HOOKUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ken Woelber Board President | OfficerTrustee | 1 | $0 |
Mike Carson Board Vice President | OfficerTrustee | 1 | $0 |
Korey Meester Board Treasurer | OfficerTrustee | 1 | $0 |
Mindy Spinks Board Secretary | OfficerTrustee | 1 | $0 |
Marty Patterson Director | Trustee | 1 | $0 |
Dawn Powell 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,497,066 |
| Investment income | $15,494 |
| 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 | $13,233 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,525,793 |
| 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. | $105,142 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $688,232 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $84,053 |
| Payroll taxes | $68,208 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,254 |
| 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 | $63,357 |
| Information technology | $14,913 |
| Royalties | $0 |
| Occupancy | $479,226 |
| 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 | $227,649 |
| Insurance | $117,760 |
| All other expenses | $17,249 |
| Total functional expenses | $2,576,519 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $75,702 |
| Savings and temporary cash investments | $532,855 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $288,159 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $29,657 |
| Prepaid expenses and deferred charges | $95,079 |
| Net Land, buildings, and equipment | $2,432,377 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $143,991 |
| Total assets | $3,597,820 |
| Accounts payable and accrued expenses | $189,876 |
| Grants payable | $0 |
| Deferred revenue | $840,352 |
| 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 | $1,030,228 |
| Net assets without donor restrictions | $2,567,592 |
| 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 | $3,597,820 |