Hole-In-The-Wall Golf Club Inc Frank Road
- Assets
- $21.7m
- Revenue
- $8.2m
- Investments
- $804.8k
- Employees
- 90
- Location
- Naples, FL
- Founding
- 08/1960
- Data as of
- 09/2023
- EIN
- 59-0818061
Organization Overview
Hole-In-The-Wall Golf Club Inc Frank Road is located in Naples, FL. The organization was established in 1960. 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 09/2023, Hole-In-The-Wall Golf Club Inc Frank Road employed 90 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hole-In-The-Wall Golf Club Inc Frank Road is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 09/2023, Hole-In-The-Wall Golf Club Inc Frank Road generated $8.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $6.4m during the year ending 09/2023. While expenses have increased by 3.3% 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 BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A PRIVATE CLUB OFFERING GOLF, GOLF INSTRUCTION, AND RELATED SERVICES AND CLUBHOUSE FACILITIES FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colleen Arnold President | OfficerTrustee | 10 | $0 |
Robert Currey Treasurer/2nd Vice President | OfficerTrustee | 10 | $0 |
Fred Schulte 1st Vice President | OfficerTrustee | 10 | $0 |
Sandy Taylor Secretary | Trustee | 4 | $0 |
Richard Schwob Director | Trustee | 10 | $0 |
John Whittemore Director | Trustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jon Budd Golf Llc Golf Services | 9/29/21 | $316,312 |
Harrell's Llc Turf And Landscape | 9/29/21 | $181,308 |
G2 Studios Llc Design Services | 9/29/21 | $126,001 |
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 | $5,048,102 |
| Investment income | $181,480 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $75,693 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$389,014 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,228,120 |
| 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. | $564,663 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,889,794 |
| Pension plan accruals and contributions | $35,632 |
| Other employee benefits | $139,519 |
| Payroll taxes | $176,508 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,660 |
| 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 | $27,664 |
| Information technology | $47,196 |
| 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 | $3,942 |
| Interest | $10,507 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,504,128 |
| Insurance | $204,294 |
| All other expenses | $248,845 |
| Total functional expenses | $6,446,766 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $187,151 |
| Savings and temporary cash investments | $7,627,917 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $43,532 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $39,265 |
| Prepaid expenses and deferred charges | $191,579 |
| Net Land, buildings, and equipment | $12,808,505 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $804,772 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $42,499 |
| Total assets | $21,745,220 |
| Accounts payable and accrued expenses | $387,318 |
| Grants payable | $0 |
| Deferred revenue | $3,449,744 |
| 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 | $126,358 |
| Total liabilities | $3,963,420 |
| Net assets without donor restrictions | $17,781,800 |
| 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 | $21,745,220 |