Palm Beach Country Club
- Assets
- $28.1m
- Revenue
- $21.2m
- Investments
- $0.0
- Employees
- 169
- Location
- Palm Beach, FL
- Founding
- 06/1955
- Data as of
- 06/2021
- EIN
- 59-0706084
Organization Overview
Palm Beach Country Club is located in Palm Beach, FL. The organization was established in 1955. 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 06/2021, Palm Beach Country Club employed 169 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palm Beach Country Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2021, Palm Beach Country Club generated $21.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $17.8m during the year ending 06/2021. While expenses have increased by 4.6% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD AND BEVERAGE SALES TOTALED $1,341,652 FOR THE YEAR ENDING 06/30/2021, OF WHICH $0 WAS NON-MEMBER RELATED INCOME.
THE CLUB PROVIDES GOLF AND DINING FACILITIES TO APPROXIMATELY 380 MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Passaggio General Manager | Officer | 60 | $465,355 |
Kirby Krauter Tennis Professional | 50 | $286,494 | |
George Kervern Grounds Superintendent | Officer | 60 | $284,704 |
Ezequiel Lopez Executive Chef | Officer | 60 | $278,823 |
Richard Kellems Chief Financial Officer | Officer | 50 | $217,261 |
Zachary Brady Golf Professional | 50 | $183,406 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pure Programs Insurance | 6/29/21 | $614,626 |
Smyth Air Conditioning A/c Equipment/services | 6/29/21 | $555,074 |
Town Of Palm Beach Utilities | 6/29/21 | $534,920 |
Florida Blue Health Insurance | 6/29/21 | $588,146 |
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 | $20,244,561 |
| Investment income | $4,900 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,014,106 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $934,961 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,230,123 |
| 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 | $5,628,908 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,372,372 |
| 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 | $777,267 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,396,606 |
| Insurance | $243,716 |
| All other expenses | $1,412,712 |
| Total functional expenses | $17,752,722 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,586,443 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $172,700 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $232,713 |
| Prepaid expenses and deferred charges | $808,024 |
| Net Land, buildings, and equipment | $19,909,644 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,402,471 |
| Total assets | $28,111,995 |
| Accounts payable and accrued expenses | $901,740 |
| 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 | $1,425,434 |
| Total liabilities | $2,327,174 |
| Net assets without donor restrictions | $25,784,821 |
| 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 | $28,111,995 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Palm Beach Country Club has recieved totaling $8,000.
| Awarding Organization | Amount |
|---|---|
Sosnow Foundation Inc Palm Beach, FL PURPOSE: CHARITABLE | $5,000 |
Goldfein Family Foundation Inc New York, NY PURPOSE: UNRESTRICTED | $1,000 |
Heyman Evergreen Foundation Tulsa, OK PURPOSE: CIVIC | $1,000 |
Daniel J And Estrellita Brodsky Family Foundation New York, NY PURPOSE: CHARITABLE | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Johns Island Club Inc Vero Beach, FL | $123,619,232 | $39,066,168 |
Cherokee Town & Country Club Inc Atlanta, GA | $70,405,206 | $43,703,981 |
St Andrews Country Club Inc Boca Raton, FL | $67,588,016 | $28,385,359 |
Capital City Club Inc Atlanta, GA | $84,524,331 | $33,363,422 |
Everglades Club Inc Palm Beach, FL | $55,459,603 | $24,732,349 |
Atlanta Athletic Club Johns Creek, GA | $48,939,283 | $29,765,696 |
Piedmont Driving Club Atlanta, GA | $77,050,064 | $28,104,317 |
Royal Poinciana Golf Club Inc Naples, FL | $61,264,527 | $17,332,259 |
Riviera Country Club Of Coral Gables Inc Coral Gables, FL | $63,238,082 | $21,710,203 |
Phi Mu Fraternity Peachtree City, GA | $13,751,042 | $22,181,589 |
Ansley Golf Club Atlanta, GA | $48,365,690 | $21,052,650 |
Royal Palm Yacht & Country Club Boca Raton, FL | $46,256,364 | $15,345,430 |