Oldfield Club
- Assets
- $11.2m
- Revenue
- $7.8m
- Investments
- $0.0
- Employees
- 119
- Location
- Okatie, SC
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 57-1110582
Organization Overview
Oldfield Club is located in Okatie, SC. The organization was established in 2014. 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 12/2021, Oldfield Club employed 119 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oldfield Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Oldfield Club generated $7.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $5.5m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OLDFIELD CLUB WAS FORMED AS A RECREATIONAL CLUB FOR ITS MEMBERS AND GUESTS. IT OPERATES AS A CLUB.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECREATION FOR OLDFIELD CLUB'S MEMBER AND GUESTS, INCLUDING GOLF, TENNIS, EQUESTRIAN, SWIMMING, FITNESS AND OTHER OUTDOOR ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Mervosh General Mana | 40 | $210,000 | |
Beth Ann Julseth Cfo/controll | 40 | $130,921 | |
Richard Stafford Director Of | 40 | $107,685 | |
Christine Buckley Secretary | Trustee | 5 | $0 |
Mike Falvo Officer | Trustee | 5 | $0 |
Chandler Hardwick Officer | Trustee | 5 | $0 |
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 | $6,962,382 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $871,227 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,833,609 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,646,669 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $265,465 |
| Payroll taxes | $192,267 |
| 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 | $826,022 |
| Advertising and promotion | $94,115 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $247,525 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $22,264 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $461,539 |
| Insurance | $250,290 |
| All other expenses | $138,889 |
| Total functional expenses | $5,466,580 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,412,326 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,441,459 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $178,047 |
| Prepaid expenses and deferred charges | $78,175 |
| Net Land, buildings, and equipment | $6,046,895 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,156,902 |
| Accounts payable and accrued expenses | $641,629 |
| Grants payable | $0 |
| Deferred revenue | $1,248,301 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $377,887 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $251,943 |
| Other liabilities | $9,434 |
| Total liabilities | $2,529,194 |
| 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 | $8,627,708 |
| Total liabilities and net assets/fund balances | $11,156,902 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Myers Park Country Club Inc Charlotte, NC | $50,316,696 | $16,086,490 |
North Ridge Country Club Inc Raleigh, NC | $21,783,792 | $13,220,578 |
George Walton Academy Inc Monroe, GA | $18,498,422 | $12,032,755 |
Forest Lake Club Columbia, SC | $17,782,694 | $10,657,455 |
Eagle Point Golf Club Inc Wilmington, NC | $18,431,345 | $8,325,446 |
Dataw Island Club Inc Beaufort, SC | $27,067,751 | $8,525,272 |
Wade Hampton Golf Club Inc Cashiers, NC | $23,418,026 | $9,280,278 |
Old Town Club Inc Winstonsalem, NC | $12,827,032 | $8,211,808 |
Vor Club Corporation Charlotte, NC | $8,365,754 | $7,496,900 |
Standard Club Johns Creek, GA | $15,932,702 | $5,650,853 |
Old Chatham Golf Club Durham, NC | $20,568,212 | $7,510,404 |
Oldfield Club Okatie, SC | $11,156,902 | $7,833,609 |