Veterans Memorial Golf Club Foundation Inc
- Assets
- $225.8k
- Revenue
- $362.7k
- Investments
- $0.0
- Employees
- 24
- Location
- Clear Lake, IA
- Founding
- 12/2012
- Data as of
- 12/2021
- EIN
- 45-0604857
Organization Overview
Veterans Memorial Golf Club Foundation Inc is located in Clear Lake, IA. The organization was established in 2012. According to its NTEE Classification (N6A) the organization is classified as: Golf, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Veterans Memorial Golf Club Foundation Inc employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veterans Memorial Golf Club Foundation Inc 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 12/2021, Veterans Memorial Golf Club Foundation Inc generated $362.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $330.5k during the year ending 12/2021. While expenses have increased by 1.7% 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
THE PURPOSE OF THE ORGANIZATION IS TO PRESERVE, MAINTAIN, AND MANAGE THE HISTORIC NINE HOLE GOLF COURSE FORMERLY KNOWN AS ALL VETERANS GOLF COURSE AS A CENTER UTILIZED TO ENHANCE THE QUALITY OF LIFE IN THE NORTH IOWA AREA BY PROVIDING CULTURAL, EDUCATIONAL, RECREATIONAL, AND ENTERTAINMENT OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE JUNIOR GOLF PROGRAM PROMOTING THE GAME.
MANAGE AND MAINTAIN HISTORICAL VETERANS MEMORIAL GOLF COURSE IN CLEAR LAKE IOWA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Barragy President | OfficerTrustee | $0 | |
Bryce Fuhrman Vice Preside | OfficerTrustee | $0 | |
Carolyn Thada Secretary | OfficerTrustee | $0 | |
Doug Rurup Treasurer | OfficerTrustee | $0 | |
Mark Ebling Director | Trustee | $0 | |
Jason Floy Director | Trustee | $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 | $9,400 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,400 |
| Total Program Service Revenue | $300,301 |
| Investment income | $26 |
| 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 | $52,950 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $362,677 |
| 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 | $162,163 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $22,650 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,328 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,792 |
| Advertising and promotion | $2,647 |
| Office expenses | $2,547 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,060 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $145 |
| Interest | $119 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,502 |
| Insurance | $5,462 |
| All other expenses | $3,873 |
| Total functional expenses | $330,504 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,088 |
| Savings and temporary cash investments | $0 |
| 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 | $7,581 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $114,878 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $52,214 |
| Total assets | $225,761 |
| Accounts payable and accrued expenses | $7,086 |
| 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 | $3,344 |
| Total liabilities | $10,430 |
| Net assets without donor restrictions | $215,331 |
| 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 | $225,761 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Veterans Memorial Golf Club Foundation Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Columbia Pipeline Group Charitable Foundation Houston, TX PURPOSE: VMGC TREE FUND | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Western Golf Association Glenview, IL | $11,404,797 | $19,646,849 |
Crystal Tree Golf And Country Club Orland Park, IL | $22,733,693 | $7,174,388 |
Chicago District Golf Association Lemont, IL | $10,835,178 | $5,446,204 |
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 |
Odyssey Charities Oak Brook, IL | $10,452,799 | $1,300,972 |
Detroit Country Club Inc Detroit Lakes, MN | $2,607,069 | $1,763,955 |
Illinois Junior Golf Association Lemont, IL | $804,884 | $1,020,198 |
Green Valley Floyd Golf Corp Sioux City, IA | $1,732,109 | $1,490,611 |