Cypress Club Inc
- Assets
- $35.2m
- Revenue
- $23.6m
- Investments
- $25.0k
- Employees
- 370
- Location
- Hilton Head Island, SC
- Founding
- 09/1997
- Data as of
- 12/2022
- EIN
- 57-0951170
Organization Overview
Cypress Club Inc is located in Hilton Head Island, SC. The organization was established in 1997. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Cypress Club Inc employed 370 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cypress Club Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Cypress Club Inc generated $23.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $21.8m during the year ending 12/2022. While expenses have increased by 4.6% 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 CYPRESS CLUB, INC. WAS ESTABLISHED AS A NON-PROPRIETARY, NON- SHAREHOLDER, NOT-FOR-PROFIT MUTUTAL BENEFIT CORPORATION UNDER THE LAWS OF SOUTH CAROLINA, EXCLUSIVELY TO MAINTAIN HOUSING FOR THE ELDERLY, TO DIRECTLY PROVIDE HEALTH CARE FOR THE PHYSICAL AND MENTAL WELL-BEING OF ITS RESIDENTS, AND TO OPERATE THE FACILITY AT ITS LOWEST FEASIBLE AND ACCEPTABLE COST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE CARE SERVICES HAS BEEN ENGAGED AS A MANAGEMENT COMPANY AND IS RESPONSIBLE FOR IMPLEMENTING POLICIES AND PROCEDURES ESTABLISHED BY THE CLUB, SUPERVISING DAY TO DAY MANAGEMENT OF THE CLUB, AND PROVIDING/RECOMMENDING OPERATIONAL PROJECTIONS AND GOALS FOR THE CLUB. AS A PART OF THE MANAGEMENT AGREEMENT, LIFE CARE SERVICES HIRES AND COMPENSATES THE EXECUTIVE DIRECTOR OF THE CLUB, SANDY GRIFFIN-BUKOSKEY AND THE ADMINISTRATOR, MONIQUE MCRAE. THE CLUB REIMBURSES LIFE CARE SERVICES FOR ALL SUCH PAYROLL EXPENSES IN ADDITION TO CONTRACTED MANAGEMENT FEES. ADDITIONAL INFORMATION REGARDING THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS FOUND ON PART VII OF THIS 990 AS WELL AS SCHEDULE J.
THE CYPRESS HAS AN ON-SITE HEALTH CARE CENTER WHICH IS LICENSED TO PERFORM NURSING CARE SERVICES.
THE CYPRESS OFFERS IN-HOME ASSISTED LIVING AND CLINIC SERVICES FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Puntereri Director | Trustee | 0.3 | $0 |
Jeff Bradley Director | Trustee | 0.3 | $0 |
Bob Raehn Director | Trustee | 0.3 | $0 |
Sandra Griffin-Bukoskey Executive Director | OfficerTrustee | 40 | $0 |
Igor Sister Director | Trustee | 0.3 | $0 |
James P Coleman Director | Trustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Life Care Companies Llc Healthcare Services | 12/30/22 | $990,454 |
Prime Time Healthcare Llc Healthcare Services | 12/30/22 | $649,392 |
Select Rehabilitation Inc Rehabilitation Services | 12/30/22 | $601,509 |
Counterfitters Llc Home Improvement Services | 12/30/22 | $174,210 |
Onestaff Medical Llc Healthcare Services | 12/30/22 | $613,099 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,846,691 |
| 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 | $1,846,691 |
| Total Program Service Revenue | $21,651,754 |
| Investment income | $397 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,300 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,570,745 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,520,183 |
| Pension plan accruals and contributions | $111,055 |
| Other employee benefits | $1,280,761 |
| Payroll taxes | $765,905 |
| Fees for services: Management | $2,889,728 |
| Fees for services: Legal | $70,156 |
| Fees for services: Accounting | $46,709 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $384,364 |
| Advertising and promotion | $90,914 |
| Office expenses | $188,948 |
| Information technology | $136,131 |
| Royalties | $0 |
| Occupancy | $919,868 |
| Travel | $59,192 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,620 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $291,009 |
| Insurance | $133,525 |
| All other expenses | $0 |
| Total functional expenses | $21,783,503 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $492,189 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,198,047 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $31,480,140 |
| Inventories for sale or use | $169,032 |
| Prepaid expenses and deferred charges | $990,949 |
| Net Land, buildings, and equipment | $179,461 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $25,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $655,127 |
| Total assets | $35,189,945 |
| Accounts payable and accrued expenses | $1,570,523 |
| 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 | $512,081 |
| Total liabilities | $2,082,604 |
| Net assets without donor restrictions | $33,107,341 |
| 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 | $35,189,945 |