Old Town Club Inc
- Assets
- $12.8m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 164
- Location
- Winstonsalem, NC
- Founding
- 04/1940
- Data as of
- 09/2021
- EIN
- 56-0344185
Organization Overview
Old Town Club Inc is located in Winstonsalem, NC. The organization was established in 1940. 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 09/2021, Old Town Club Inc employed 164 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Town 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 09/2021, Old Town Club Inc generated $8.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $7.5m during the year ending 09/2021. While expenses have increased by 2.1% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PRIVATE SOCIAL CLUB OPERATING FOR THE RECREATIONAL AND SOCIAL PURPOSES OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josh Paris General Manager | Officer | 40 | $254,731 |
Charles Frost Director Of Golf | 40 | $191,104 | |
Bryant Evans Director Of Agronomy | Officer | 40 | $178,852 |
Luke Fussell Executive Chef | 40 | $135,511 | |
Donya Stack Controller | 40 | $123,631 | |
Lindsey Warren Assist. General Manager | 40 | $109,942 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Il Long Construction Construction Services | 9/29/17 | $1,498,340 |
Amt Labor Services | 9/29/17 | $180,400 |
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 | $4,997,747 |
| Investment income | $2,925 |
| 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 | $2,277,700 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,211,808 |
| 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. | $282,155 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,124,862 |
| Pension plan accruals and contributions | $26,708 |
| Other employee benefits | $393,033 |
| Payroll taxes | $232,081 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,167 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $137,538 |
| Advertising and promotion | $0 |
| Office expenses | $137,694 |
| Information technology | $123,046 |
| Royalties | $0 |
| Occupancy | $383,644 |
| Travel | $4,896 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,041 |
| Interest | $164,092 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $537,836 |
| Insurance | $92,805 |
| All other expenses | $209,108 |
| Total functional expenses | $7,484,712 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $297,682 |
| Savings and temporary cash investments | $2,202,347 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,388,641 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $94,879 |
| Prepaid expenses and deferred charges | $131,821 |
| Net Land, buildings, and equipment | $7,711,662 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,827,032 |
| Accounts payable and accrued expenses | $529,334 |
| Grants payable | $0 |
| Deferred revenue | $31,903 |
| 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 | $4,340,237 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,879 |
| Total liabilities | $4,914,353 |
| Net assets without donor restrictions | $7,912,679 |
| 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 | $12,827,032 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Myers Park Country Club Inc Charlotte, NC | $50,316,696 | $16,086,490 |
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 |
George Walton Academy Inc Monroe, GA | $18,498,422 | $12,032,755 |
Willow Oaks Country Club Inc Richmond, VA | $15,889,652 | $10,037,529 |
Forest Lake Club Columbia, SC | $17,782,694 | $10,657,455 |
Memphis Country Club Memphis, TN | $17,898,426 | $9,558,758 |
Eagle Point Golf Club Inc Wilmington, NC | $18,431,345 | $8,325,446 |
Dataw Island Club Inc Beaufort, SC | $27,067,751 | $8,525,272 |
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 |
Old Town Club Inc Winstonsalem, NC | $12,827,032 | $8,211,808 |