Roaring Gap Club Inc
- Assets
- $23.1m
- Revenue
- $10.5m
- Investments
- $0.0
- Employees
- 197
- Location
- Roaring Gap, NC
- Founding
- 06/1972
- Data as of
- 10/2023
- EIN
- 56-0939382
Organization Overview
Roaring Gap Club Inc is located in Roaring Gap, NC. The organization was established in 1972. 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 10/2023, Roaring Gap Club Inc employed 197 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Roaring Gap 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 10/2023, Roaring Gap Club Inc generated $10.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $10.1m during the year ending 10/2023. While expenses have increased by 7.2% 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
PRIVATE SOCIAL CLUB PROVIDING SOCIAL AND RECREATIONAL ACTIVITIES TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A CLUBHOUSE, DINING ROOM, AND LOUNGE FOR THE BENEFIT OF ITS MEMBERS
OPERATION OF A GOLF COURSE FOR THE BENEFIT OF ITS MEMBERS.
OPERATION OF TENNIS COURTS AND POOL FOR THE BENEFIT OF ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Courtnay Arpano Director | Trustee | 0.5 | $0 |
Pat Bassett Director | Trustee | 0.5 | $0 |
Hannah Kehaya Director | Trustee | 0.5 | $0 |
Bill Blue Director | Trustee | 0.5 | $0 |
Guy Mitchell Director | Trustee | 0.5 | $0 |
Al Linderman Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bill Glenn Pro Shop | 10/30/20 | $268,597 |
James Woodruff Construction | 10/30/20 | $147,299 |
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 | $9,428,453 |
| Investment income | $1,296 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $276,652 |
| Net Gain/Loss on Asset Sales | $452,444 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,456,792 |
| 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. | $853,029 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,814,724 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $406,232 |
| Payroll taxes | $437,744 |
| 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 | $364,603 |
| Advertising and promotion | $0 |
| Office expenses | $109,263 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $484,119 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $91,007 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,541,568 |
| Insurance | $309,374 |
| All other expenses | $564,130 |
| Total functional expenses | $10,064,244 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $339,827 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,681,847 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $215,058 |
| Prepaid expenses and deferred charges | $172,418 |
| Net Land, buildings, and equipment | $19,121,694 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $525,779 |
| Total assets | $23,056,623 |
| Accounts payable and accrued expenses | $732,149 |
| Grants payable | $0 |
| Deferred revenue | $968,383 |
| 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 | $2,819,541 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $836,342 |
| Total liabilities | $5,356,415 |
| Net assets without donor restrictions | $17,663,507 |
| Net assets with donor restrictions | $36,701 |
| 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 | $23,056,623 |