Gulf Stream Bath & Tennis Club Inc
- Assets
- $10.1m
- Revenue
- $4.7m
- Investments
- $1.3m
- Employees
- 92
- Location
- Delray Beach, FL
- Founding
- 02/1955
- Data as of
- 05/2023
- EIN
- 59-0542388
Organization Overview
Gulf Stream Bath & Tennis Club Inc is located in Delray Beach, FL. The organization was established in 1955. 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 05/2023, Gulf Stream Bath & Tennis Club Inc employed 92 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gulf Stream Bath & Tennis Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 05/2023, Gulf Stream Bath & Tennis Club Inc generated $4.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $5.7m during the year ending 05/2023. While expenses have increased by 4.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A PRIVATE RECREATIONAL AND SOCIAL CLUB WITH CERTAIN BEACH, TENNIS, FITNESS, RESTAURANT, SWIMMING AND RELATED FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDES FOOD AND BEVERAGE SERVICE ON APPROXIMATELY 220 DAYS THROUGHOUT THE YEAR. DURING FISCAL 2022-2023, GROSS REVENUES FROM FOOD AND BEVERAGE WERE $1,966,046 (OF WHICH $106,990 WAS NON-MEMBER RELATED) AND EXPENSES WERE $2,630,622. THE OPERATING LOSS FROM FOOD AND BEVERAGE SERVICE WAS FUNDED THROUGH MEMBERSHIP DUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kirsten Stanley President | OfficerTrustee | 1 | $0 |
Bradford B Kopp Vice President | OfficerTrustee | 1 | $0 |
Michael Hefley Treasurer | OfficerTrustee | 1 | $0 |
Anthony W Graziano Jr Secretary | OfficerTrustee | 1 | $0 |
Tina Smith Governor | Trustee | 1 | $0 |
George Deb Bell Jr Governor | Trustee | 1 | $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 | $3,247,147 |
| Investment income | $38,248 |
| 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 | $1,117,119 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,693,526 |
| 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 | $2,590,896 |
| Pension plan accruals and contributions | $69,133 |
| Other employee benefits | $480,860 |
| Payroll taxes | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $26,284 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $663,712 |
| Insurance | $432,700 |
| All other expenses | $262,675 |
| Total functional expenses | $5,687,992 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $573,223 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $446,128 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $114,757 |
| Prepaid expenses and deferred charges | $633,045 |
| Net Land, buildings, and equipment | $6,982,789 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,320,816 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,469 |
| Total assets | $10,078,227 |
| Accounts payable and accrued expenses | $554,391 |
| 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 | $260,130 |
| Total liabilities | $814,521 |
| Net assets without donor restrictions | $9,263,706 |
| 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 | $10,078,227 |