Palmetto Golf Club
- Assets
- $4.4m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 35
- Location
- Aiken, SC
- Founding
- 06/1989
- Data as of
- 12/2023
- EIN
- 57-0221480
Organization Overview
Palmetto Golf Club is located in Aiken, SC. The organization was established in 1989. 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, Palmetto Golf Club employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palmetto 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 12/2023, Palmetto Golf Club generated $2.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $2.3m during the year ending 12/2023. While expenses have increased by 3.8% 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
OPERATION OF A GOLF CLUB FOR THE RECREATION OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO MANAGE AND OPERATE A PRIVATE GOLF CLUB FOR THE BENEFIT OF ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Mahoney Governor | Trustee | 0.3 | $0 |
William H Tucker Governor | Trustee | 0.3 | $0 |
Greg Pascal Governor | Trustee | 0.3 | $0 |
Michael J Costigan Sr Governor | Trustee | 0.3 | $0 |
Arnie Kilburz Governor | Trustee | 0.3 | $0 |
Tommy Mccullough Governor | Trustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Green Tee Golf Inc Golf Course Builder | 12/30/23 | $1,045,122 |
Gillam & Associates Inc Contractor | 12/30/23 | $497,225 |
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 | $2,255,030 |
| Investment income | $62,729 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,850 |
| Net Gain/Loss on Asset Sales | $5,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,326,609 |
| 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. | $175,248 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $646,406 |
| Pension plan accruals and contributions | $24,568 |
| Other employee benefits | $0 |
| Payroll taxes | $63,724 |
| 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 | $3,100 |
| Advertising and promotion | $0 |
| Office expenses | $314,519 |
| Information technology | $10,839 |
| Royalties | $0 |
| Occupancy | $113,855 |
| Travel | $684 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,448 |
| Interest | $1,136 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $317,683 |
| Insurance | $132,591 |
| All other expenses | $0 |
| Total functional expenses | $2,306,887 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $146,982 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $92,704 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $19,784 |
| Net Land, buildings, and equipment | $4,104,062 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,363,532 |
| Accounts payable and accrued expenses | $256,189 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $256,189 |
| Net assets without donor restrictions | $0 |
| 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 | $4,107,343 |
| Total liabilities and net assets/fund balances | $4,363,532 |