Tipton Country Club Inc
- Assets
- $950.5k
- Revenue
- $242.0k
- Investments
- $0.0
- Employees
- 11
- Location
- Tipton, IA
- Founding
- 12/1992
- Data as of
- 12/2022
- EIN
- 42-1278699
Organization Overview
Tipton Country Club Inc is located in Tipton, IA. The organization was established in 1992. 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 12/2022, Tipton Country Club Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tipton Country Club Inc 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, Tipton Country Club Inc generated $242.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $219.7k 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
PROVIDING SOCIAL & RECREATIONAL ACTIVITIES TO ITS MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOLFING & SOCIALIZING ACTIVITIES WERE PROVIDED TO 289 MEMBERS.
GOLFING & SOCIALIZING ACTIVITIES WERE PROVIDED TO 289 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Trent Schroeder Secretary | Officer | 10 | $1,950 |
Kelly Banowetz Director | Trustee | 2 | $0 |
Shane Boeve President | OfficerTrustee | 5 | $0 |
Rod Ferris Director | Trustee | 2 | $0 |
Shane Martin Director | Trustee | 2 | $0 |
Lisa Mosier Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $172,655 |
| 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 | $172,655 |
| Total Program Service Revenue | $58,075 |
| Investment income | $139 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,259 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $242,042 |
| 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. | $1,950 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,341 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,062 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,311 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $800 |
| Office expenses | $142 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,939 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,782 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,785 |
| Insurance | $9,295 |
| All other expenses | $7,882 |
| Total functional expenses | $219,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,100 |
| Savings and temporary cash investments | $38,374 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $413 |
| 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 | $875,661 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $950,548 |
| Accounts payable and accrued expenses | $15,892 |
| Grants payable | $0 |
| Deferred revenue | $54,285 |
| 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 | $471,670 |
| Other liabilities | $0 |
| Total liabilities | $541,847 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $98,306 |
| Paid-in or capital surplus, or land, building, or equipment fund | $68,466 |
| Retained earnings, endowment, accumulated income, or other funds | $241,929 |
| Total liabilities and net assets/fund balances | $950,548 |