Woodmont Country Club
- Assets
- $64.3m
- Revenue
- $25.4m
- Investments
- $0.0
- Employees
- 517
- Location
- Rockville, MD
- Founding
- 03/1951
- Data as of
- 12/2023
- EIN
- 52-0535740
Organization Overview
Woodmont Country Club is located in Rockville, MD. The organization was established in 1951. 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 12/2023, Woodmont Country Club employed 517 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Woodmont Country Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Woodmont Country Club generated $25.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $26.0m during the year ending 12/2023. While expenses have increased by 3.5% per year over the past 9 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 PROVIDE RECREATIONAL AND SOCIAL ACTIVITES FOR OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB OPERATES AS A COUNTRY CLUB TO PROVIDE RECREATIONAL ACTIVITIES TO ITS MEMBERSHIP, SUCH AS GOLF, TENNIS, SWIMMING AND DINING FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Lustig President | OfficerTrustee | 1 | $0 |
Fran Albert First Vice President | OfficerTrustee | 1 | $0 |
Daryle Bobb Second Vice President | OfficerTrustee | 1 | $0 |
Kim Stein Secretary | OfficerTrustee | 1 | $0 |
Steven Schiffman Treasurer | OfficerTrustee | 1 | $0 |
Billy Burack Auditor | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Melanie Powers Publishing | 12/30/17 | $106,676 |
Patrol Security Security | 12/30/17 | $106,460 |
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 | $22,539,831 |
| Investment income | $132,421 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$118,008 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,778,056 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,390,746 |
| 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. | $337,095 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,549,698 |
| Pension plan accruals and contributions | $281,759 |
| Other employee benefits | $1,319,945 |
| Payroll taxes | $1,007,904 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,605 |
| Fees for services: Accounting | $80,838 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $374,517 |
| Advertising and promotion | $0 |
| Office expenses | $244,505 |
| Information technology | $374,105 |
| Royalties | $0 |
| Occupancy | $1,654,880 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $133,471 |
| Interest | $277,365 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,325,987 |
| Insurance | $376,365 |
| All other expenses | $0 |
| Total functional expenses | $25,971,031 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $158,905 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,025,907 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $486,893 |
| Prepaid expenses and deferred charges | $463,480 |
| Net Land, buildings, and equipment | $54,970,524 |
| Investments—publicly traded securities | $2,301,229 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,869,431 |
| Total assets | $64,276,369 |
| Accounts payable and accrued expenses | $2,699,585 |
| Grants payable | $0 |
| Deferred revenue | $2,588,491 |
| 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 | $14,718,781 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,115,052 |
| Total liabilities | $35,121,909 |
| Net assets without donor restrictions | $29,154,460 |
| 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 | $64,276,369 |