Terrace Club
- Assets
- $183.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 2
- Location
- Winchester, VA
- Founding
- 06/1968
- Data as of
- 12/2022
- EIN
- 54-0787906
Organization Overview
Terrace Club is located in Winchester, VA. The organization was established in 1968. 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 12/2022, Terrace Club employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Terrace Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Terrace Club generated $76.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $119.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles S Clark President | 0 | $0 | |
Richard Whitacre Treasurer | 0 | $0 | |
Todd Nicholson Member At Large | 0 | $0 | |
Doug Bromley Member At Large | 0 | $0 | |
Bill Stinson Vice President | 0 | $0 | |
Rob Russell Member At Large | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $6,093 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $37,581 |
| Other Revenue | $0 |
| Total Revenue | $76,450 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $43,956 |
| Professional fees and other payments to independent contractors | $3,125 |
| Occupancy, rent, utilities, and maintenance | $51,276 |
| Printing, publications, postage, and shipping | $70 |
| Other expenses | $7,010 |
| Total expenses | $118,972 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $180,533 |
| Other assets | $0 |
| Total assets | $183,681 |
| Total liabilities | $2,326 |
| Net assets or fund balances | $181,355 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Myers Park Country Club Inc Charlotte, NC | $50,316,696 | $16,086,490 |
Bethesda Country Club Inc Bethesda, MD | $26,747,430 | $19,774,534 |
Bellehaven Country Club Inc Alexandria, VA | $40,402,944 | $17,085,559 |
North Ridge Country Club Inc Raleigh, NC | $21,783,792 | $13,220,578 |
Willow Oaks Country Club Inc Richmond, VA | $15,889,652 | $10,037,529 |
Memphis Country Club Memphis, TN | $17,898,426 | $9,558,758 |
Eagle Point Golf Club Inc Wilmington, NC | $18,431,345 | $8,325,446 |
Wade Hampton Golf Club Inc Cashiers, NC | $23,418,026 | $9,280,278 |
Kinloch Golf Association Corp ManakinSabot, VA | $45,313,161 | $8,251,750 |
Burning Tree Club Inc Bethesda, MD | $67,642,850 | $7,903,276 |
Old Town Club Inc Winstonsalem, NC | $12,827,032 | $8,211,808 |
Idle Hour Country Club Inc Lexington, KY | $13,827,877 | $6,560,806 |