Gibson Island Club Inc
- Assets
- $20.8m
- Revenue
- $11.5m
- Investments
- $0.0
- Employees
- 251
- Location
- Gibson Island, MD
- Founding
- 02/1925
- Data as of
- 10/2023
- EIN
- 52-0326700
Organization Overview
Gibson Island Club Inc is located in Gibson Island, MD. The organization was established in 1925. 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 10/2023, Gibson Island Club Inc employed 251 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gibson Island 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 10/2023, Gibson Island Club Inc generated $11.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $11.6m during the year ending 10/2023. While expenses have increased by 6.2% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO CATER TO ITS MEMBERS' NEEDS & PROVIDE A PLACE WHERE MEMBERS CAN SOCIALIZE WITH PEERS. THE CLUB PROVIDES FACILITIES SUCH AS A MARINA, GOLF COURSE, TENNIS COURTS, & DINING ROOM
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Armond Spikell President | OfficerTrustee | 3 | $0 |
Margaret Butler Vice President | OfficerTrustee | 3 | $0 |
A Murray Leigh Jr Second Vice President | OfficerTrustee | 3 | $0 |
Benjamin S Lentz Treasurer | OfficerTrustee | 3 | $0 |
Anna Kimsey Edwards Secretary | OfficerTrustee | 3 | $0 |
Elizabeth E Savage Governor | Trustee | 3 | $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 | $4,677,386 |
| Investment income | $4,894 |
| 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 | $6,801,433 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,483,713 |
| 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. | $302,447 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,460,121 |
| Pension plan accruals and contributions | $80,529 |
| Other employee benefits | $256,486 |
| Payroll taxes | $476,085 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $95,016 |
| Fees for services: Accounting | $70,278 |
| 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 | $347,711 |
| Information technology | $24,213 |
| Royalties | $0 |
| Occupancy | $791,640 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $162,491 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $684,137 |
| Insurance | $278,875 |
| All other expenses | $179,399 |
| Total functional expenses | $11,580,806 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,595,262 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,083,588 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $539,666 |
| Prepaid expenses and deferred charges | $139,529 |
| Net Land, buildings, and equipment | $7,653,332 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,794,719 |
| Total assets | $20,806,096 |
| Accounts payable and accrued expenses | $806,646 |
| 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 | $14,657,293 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $331,291 |
| Total liabilities | $15,795,230 |
| Net assets without donor restrictions | $5,010,866 |
| 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 | $20,806,096 |