Willow Oaks Country Club Inc
- Assets
- $16.3m
- Revenue
- $11.1m
- Investments
- $1.2m
- Employees
- 312
- Location
- Richmond, VA
- Founding
- 04/1959
- Data as of
- 09/2023
- EIN
- 54-0628761
Organization Overview
Willow Oaks Country Club Inc is located in Richmond, VA. The organization was established in 1959. 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 09/2023, Willow Oaks Country Club Inc employed 312 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Willow Oaks 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 09/2023, Willow Oaks Country Club Inc generated $11.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $10.4m during the year ending 09/2023. While expenses have increased by 3.7% per year over the past 8 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 PROMOTE SOCIAL INTERACTION AND RECREATION FOR THE BENEFIT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDES FACILITIES SUCH AS TENNIS COURTS, GOLF COURSES, SWIMMING POOLS AND DINING ROOMS TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tray Adams Director | Trustee | 1 | $0 |
Kelly Barbour Director | Trustee | 1 | $0 |
Chris Corrada Director | Trustee | 1 | $0 |
Molly Dey Director | Trustee | 1 | $0 |
Eddie Eddins Director | Trustee | 1 | $0 |
Scott Elles Director | Trustee | 1 | $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 | $9,771,742 |
| Investment income | $66,080 |
| 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 | $1,159,799 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,058,455 |
| 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. | $262,403 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,708,255 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $541,925 |
| Payroll taxes | $402,601 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,459 |
| Fees for services: Accounting | $25,738 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $661,607 |
| Advertising and promotion | $48,829 |
| Office expenses | $0 |
| Information technology | $90,735 |
| Royalties | $0 |
| Occupancy | $219,381 |
| Travel | $7,124 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $199,555 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,083,083 |
| Insurance | $108,716 |
| All other expenses | $480,633 |
| Total functional expenses | $10,398,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,962 |
| Savings and temporary cash investments | $3,358,931 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,441,725 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $265,485 |
| Prepaid expenses and deferred charges | $172,692 |
| Net Land, buildings, and equipment | $9,347,153 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,234,463 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $514,334 |
| Total assets | $16,337,745 |
| Accounts payable and accrued expenses | $1,001,913 |
| Grants payable | $0 |
| Deferred revenue | $3,624,189 |
| 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 | $4,617,549 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $102,584 |
| Total liabilities | $9,346,235 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $269,789 |
| Paid-in or capital surplus, or land, building, or equipment fund | $269,789 |
| Retained earnings, endowment, accumulated income, or other funds | $6,451,932 |
| Total liabilities and net assets/fund balances | $16,337,745 |