Oldfield Club
- Assets
- $11.5m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 71
- Location
- Okatie, SC
- Founding
- 07/2014
- Data as of
- 12/2022
- 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 12/2022, Oldfield Club employed 71 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 12/2022, Oldfield Club generated $8.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $7.9m during the year ending 12/2022. 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
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 |
|---|---|---|---|
Christine Buckley Secretary | Trustee | 5 | $0 |
Mike Falvo Vice Preside | Trustee | 5 | $0 |
Chandler Hardwick Officer | Trustee | 5 | $0 |
Eric Pugh Officer | Trustee | 5 | $0 |
Tim Rice Treasurer | Trustee | 5 | $0 |
Mark Rovnak President | 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 | $7,619,616 |
| Investment income | $2,169 |
| 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 | $808,563 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,430,348 |
| 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 | $2,724,413 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $475,327 |
| Payroll taxes | $246,792 |
| 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 | $1,293,776 |
| Advertising and promotion | $67,235 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $272,808 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $39,456 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $549,044 |
| Insurance | $258,282 |
| All other expenses | $185,350 |
| Total functional expenses | $7,881,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,101,694 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,473,550 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $157,288 |
| Prepaid expenses and deferred charges | $117,563 |
| Net Land, buildings, and equipment | $6,160,190 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $511,409 |
| Total assets | $11,521,694 |
| Accounts payable and accrued expenses | $793,339 |
| Grants payable | $0 |
| Deferred revenue | $1,205,628 |
| 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 | $346,028 |
| Total liabilities | $2,344,995 |
| 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 | $9,176,699 |
| Total liabilities and net assets/fund balances | $11,521,694 |