Old Chatham Golf Club
- Assets
- $23.0m
- Revenue
- $7.3m
- Investments
- $38.5k
- Employees
- 104
- Location
- Durham, NC
- Founding
- 04/2000
- Data as of
- 12/2022
- EIN
- 56-2160577
Organization Overview
Old Chatham Golf Club is located in Durham, NC. The organization was established in 2000. 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, Old Chatham Golf Club employed 104 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Chatham Golf 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, Old Chatham Golf Club generated $7.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $6.1m during the year ending 12/2022. While expenses have increased by 4.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CLUB IS A MEMBER-OWNED PRIVATE GOLF CLUB.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
M Allen Wilson President | OfficerTrustee | 8 | $0 |
Dale Jenkins Vice President | OfficerTrustee | 2 | $0 |
James M Lamont Vice President | OfficerTrustee | 2 | $0 |
James A Bick Secretary/treasurer | OfficerTrustee | 8 | $0 |
Kirk J Bradley Director | Trustee | 2 | $0 |
Ryan Burleson Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Duininck Inc Golf Course Construction | 12/30/22 | $2,295,501 |
Modern Turf Inc Landscaping Turf | 12/30/22 | $442,533 |
Ruston Paving Co Inc Paving | 12/30/22 | $155,280 |
Task Electric Inc Electrical | 12/30/22 | $147,640 |
Rees Jones Inc Golf Course Design | 12/30/22 | $120,996 |
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 | $6,283,359 |
| Investment income | $4,641 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $382,764 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $337,548 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,334,625 |
| 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. | $808,393 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,198,018 |
| Pension plan accruals and contributions | $22,438 |
| Other employee benefits | $179,351 |
| Payroll taxes | $211,319 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,609 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $136,288 |
| Advertising and promotion | $0 |
| Office expenses | $37,603 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $151,972 |
| Travel | $21,084 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,730 |
| Interest | $302,131 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $677,827 |
| Insurance | $101,350 |
| All other expenses | $239,019 |
| Total functional expenses | $6,074,894 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,578 |
| Savings and temporary cash investments | $1,637,654 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $833,285 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $277,372 |
| Prepaid expenses and deferred charges | $182,737 |
| Net Land, buildings, and equipment | $19,858,181 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $38,518 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $118,300 |
| Total assets | $22,950,625 |
| Accounts payable and accrued expenses | $523,927 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $4,147,322 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,729,740 |
| Total liabilities | $15,400,989 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $15,219,923 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$7,670,287 |
| Total liabilities and net assets/fund balances | $22,950,625 |