Port Royal Club Inc
- Assets
- $74.4m
- Revenue
- $31.8m
- Investments
- $39.3m
- Employees
- 183
- Location
- Naples, FL
- Founding
- 11/1963
- Data as of
- 07/2023
- EIN
- 59-0876282
Organization Overview
Port Royal Club Inc is located in Naples, FL. The organization was established in 1963. 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 07/2023, Port Royal Club Inc employed 183 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Port Royal 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 07/2023, Port Royal Club Inc generated $31.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $12.7m during the year ending 07/2023. While expenses have increased by 1.3% 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
THE PORT ROYAL CLUB WAS ESTABLISHED IN 1959. IT IS A PRIVATE BEACH CLUB OFFERING DINING, FITNESS, SWIMMING AND SOCIAL SERVICES FOR ITS MEMBERS. PORT ROYAL PROPERTY OWNERSHIP IS REQUIRED FOR MEMBERSHIP. THE CLUB IS OPEN FROM MID-AUGUST TO MID-JULY, WHEN IT CLOSES FOR A MONTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PORT ROYAL CLUB (PRC) IS A PRIVATE BEACH CLUB OFFERING DINING, FITNESS, SWIMMING, AND SOCIAL FACILITIES FOR ITS MEMBERS. THE CLUB IS NORMALLY OPEN FROM MID-AUGUST UNTIL MID JULY, WHEN IT CLOSES FOR A MONTH. THE PORT ROYAL CLUBHOUSE WAS SEVERELY DAMAGED IN HURRICANE IAN IN SEPTEMBER 2022. THE CLUB'S DINING FACILITIES HAVE BEEN OPERATING VIA VARIOUS TEMPORARY SET-UPS, INCLUDING A DINING TENT AND FOOD TRUCKS. WHEN THE NEW CLUBHOUSE OPENS, THE CLUB WILL RESUME NORMAL OPERATIONS, WITH MODIFICATIONS AS NEEDED TO ACCOMMODATE THE NEW BUILDING. UNDER NORMAL CIRCUMSTANCES:THE WELCOME BACK PARTY IN NOVEMBER WELCOMES MEMBERS WHEN THEY COME INTO TOWN BRINGING THEIR FAMILIES FOR THE SEASON.OTHER PARTIES ARE PREPARED TO CELEBRATE IMPORTANT DATES, SUCH AS HALLOWEEN, THANKSGIVING, CHRISTMAS, NEW YEAR'S EVE, SUPER BOWL, VALENTINE'S DAY, EASTER, MEMORIAL DAY AND INDEPENDENCE DAY. A CONTINENTAL BREAKFAST IS OFFERED EVERY MORNING FROM 7:30 TO 10 A.M., EXCEPT ON MONDAYS, NOVEMBER THRU MAY.PRC ALSO OFFERS A LA CARTE LUNCH (12-3 P.M.) AND DINNER (5-9 P.M.) TUESDAY THROUGH SATURDAY, CLOSED SUNDAY EVENINGS MAY TO NOVEMBER. MANY FRIDAY NIGHTS IN SEASON, AT THE MAIN DINING ROOM, THERE IS A SEAFOOD BUFFET, AND TO FINISH THE WEEKEND, THERE IS A SUNDAY BRUNCH AND SUNDAY SUNSET DINNER.THE CLUB CAN ACCOMMODATE UP TO 300 PEOPLE FOR PRIVATE PARTIES INCLUDING BIRTHDAYS, WEDDINGS, CHRISTMAS PARTIES.THE PORT ROYAL CLUB HAS A FITNESS CENTER ACROSS THE STREET FROM THE CLUBHOUSE. AMENITIES INCLUDE: TECHNOGYM EQUIPMENT - AMONG THE FINEST IN THE WORLD, PERSONAL TRAINING, PILATES AND AEROBICS ROOMS. THE MEMBERS CAN ALSO MAKE APPOINTMENTS FOR MASSAGE AND FACIAL TREATMENTS.ALONG WITH THE FITNESS FACILITIES THERE ARE NINE HYDRO-GRID TENNIS COURTS AND A PRO SHOP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Rorer President | OfficerTrustee | 15 | $0 |
Michael Mcgavick 1st Vice President | OfficerTrustee | 5 | $0 |
Stephen Teaford 2nd Vice President | OfficerTrustee | 10 | $0 |
Nancy Carlson Treasurer | OfficerTrustee | 15 | $0 |
Paul Coulombe Director | Trustee | 10 | $0 |
Frank Hallinan Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lockton Companies Insurance | 7/30/23 | $217,783 |
Dc Hospitality Solutions Contract Labor | 7/30/23 | $457,381 |
Ritzman Courts Court Repair | 7/30/23 | $204,900 |
Kci Temporary Kitchens Llc Equipment Rental | 7/30/23 | $157,950 |
Cheffy Passidomo Llp Legal Services | 7/30/23 | $104,007 |
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 | $9,014,943 |
| Investment income | $948,483 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $200 |
| Net Gain/Loss on Asset Sales | -$12,812,788 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$2,481,834 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,835,287 |
| 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. | $611,208 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,618,706 |
| Pension plan accruals and contributions | $178,623 |
| Other employee benefits | $243,774 |
| Payroll taxes | $242,461 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $100,906 |
| Fees for services: Accounting | $46,315 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $203,717 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $983,350 |
| Insurance | $782,065 |
| All other expenses | $2,396,306 |
| Total functional expenses | $12,651,762 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,532,566 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $229,312 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $127,188 |
| Prepaid expenses and deferred charges | $709,420 |
| Net Land, buildings, and equipment | $5,475,782 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $39,273,006 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,062,862 |
| Total assets | $74,410,136 |
| Accounts payable and accrued expenses | $1,667,520 |
| Grants payable | $0 |
| Deferred revenue | $5,102,207 |
| 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 | $2,253,796 |
| Total liabilities | $9,023,523 |
| Net assets without donor restrictions | $65,386,613 |
| 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 | $74,410,136 |