Lakewood Country Club
- Assets
- $17.5m
- Revenue
- $12.0m
- Investments
- $0.0
- Employees
- 227
- Location
- Rockville, MD
- Founding
- 10/1962
- Data as of
- 03/2023
- EIN
- 53-0245497
Organization Overview
Lakewood Country Club is located in Rockville, MD. The organization was established in 1962. 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 03/2023, Lakewood Country Club employed 227 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakewood 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 03/2023, Lakewood Country Club generated $12.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $8.6m during the year ending 03/2023. 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
SOCIAL AND RECREATIONAL CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED PLEASURE, RECREATION, AND SOCIAL OPPORTUNITIES TO MEMBERS OF LAKEWOOD COUNTRY CLUB.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Art Greenberg President | OfficerTrustee | 5 | $0 |
Gary Smith Vice-President | OfficerTrustee | 5 | $0 |
Maurice Amsellem Treasurer | OfficerTrustee | 5 | $0 |
Bob Rosecrans Secretary | OfficerTrustee | 5 | $0 |
Ann Harrington Director | Trustee | 5 | $0 |
Matt Mills Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
David Crawmer Golf Professional | 3/30/22 | $400,891 |
Smart Landscaping & Hardscaping Landscaping | 3/30/22 | $238,900 |
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 | $11,791,009 |
| Investment income | $52,695 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$57,872 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $157,080 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,954,086 |
| 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 | $3,231,192 |
| Pension plan accruals and contributions | $42,106 |
| Other employee benefits | $236,155 |
| Payroll taxes | $260,241 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $62,762 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $713,553 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $369,865 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,018,758 |
| Insurance | $174,150 |
| All other expenses | $767,584 |
| Total functional expenses | $8,634,968 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,387,901 |
| Savings and temporary cash investments | $3,709,423 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,412,224 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $251,744 |
| Prepaid expenses and deferred charges | $134,707 |
| Net Land, buildings, and equipment | $9,912,321 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $709,731 |
| Total assets | $17,518,051 |
| Accounts payable and accrued expenses | $1,125,459 |
| Grants payable | $0 |
| Deferred revenue | $1,009,948 |
| 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 | $10,171,447 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $194,760 |
| Total liabilities | $12,501,614 |
| Net assets without donor restrictions | $5,016,437 |
| 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 | $17,518,051 |