Carmel Country Club Inc
- Assets
- $54.8m
- Revenue
- $32.4m
- Investments
- $0.0
- Employees
- 526
- Location
- Charlotte, NC
- Founding
- 02/1949
- Data as of
- 12/2023
- EIN
- 56-0507966
Organization Overview
Carmel Country Club Inc is located in Charlotte, NC. The organization was established in 1949. 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, Carmel Country Club Inc employed 526 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carmel 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 12/2023, Carmel Country Club Inc generated $32.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $31.9m during the year ending 12/2023. While expenses have increased by 7.3% 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 PROMOTE SOCIAL INTERACTION & 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 |
|---|---|---|---|
Bill Hamel President | OfficerTrustee | 10 | $0 |
Dann Smith Vice President | OfficerTrustee | 5 | $0 |
Mike Fox Treasurer | OfficerTrustee | 10 | $0 |
Evan Bass Secretary | OfficerTrustee | 5 | $0 |
Clifton Coble Vice President | OfficerTrustee | 5 | $0 |
Amy Shober Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Us Foodservice Food & Beverage Supplies | 12/30/23 | $1,450,384 |
Golf Course Services Golf Course Services | 12/30/23 | $628,722 |
Smart And Quick Solutions Cb Llc Temporary Staffing Service | 12/30/23 | $648,345 |
Acushnet Golf Merchandise | 12/30/23 | $616,976 |
Mecklenburg Abc Board Alcohol Beverage Distributor | 12/30/23 | $411,537 |
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 | $25,872,737 |
| Investment income | $79,808 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $118,726 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,289,464 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,360,735 |
| 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. | $1,004,149 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,087,251 |
| Pension plan accruals and contributions | $238,765 |
| Other employee benefits | $1,917,770 |
| Payroll taxes | $1,072,734 |
| 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 | $1,112,742 |
| Advertising and promotion | $84,154 |
| Office expenses | $943,923 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $832,168 |
| Travel | $139,016 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $385,623 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,350,882 |
| Insurance | $349,449 |
| All other expenses | $1,695,162 |
| Total functional expenses | $31,876,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,828 |
| Savings and temporary cash investments | $3,950,210 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,310,427 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,710,155 |
| Inventories for sale or use | $833,679 |
| Prepaid expenses and deferred charges | $56,595 |
| Net Land, buildings, and equipment | $39,764,312 |
| Investments—publicly traded securities | $151,646 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,003,590 |
| Total assets | $54,787,442 |
| Accounts payable and accrued expenses | $657,137 |
| Grants payable | $0 |
| Deferred revenue | $7,847,312 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,447,408 |
| Total liabilities | $17,951,857 |
| Net assets without donor restrictions | $36,835,585 |
| 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 | $54,787,442 |