Hillsboro Club Inc
- Assets
- $21.7m
- Revenue
- $14.1m
- Investments
- $0.0
- Employees
- 206
- Location
- Hillsboro Beach, FL
- Founding
- 08/1963
- Data as of
- 04/2023
- EIN
- 59-0877007
Organization Overview
Hillsboro Club Inc is located in Hillsboro Beach, 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 04/2023, Hillsboro Club Inc employed 206 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hillsboro 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 04/2023, Hillsboro Club Inc generated $14.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $15.0m during the year ending 04/2023. While expenses have increased by 4.0% per year over the past 7 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
THE CLUB OPERATES/MAINTAINS A CLUBHOUSE & DINING AREA FOR ITS MEMBERS. F&B REVENUES FOR THE YEAR END WERE $5,021,963 OF WHICH $4,072,241 WAS MEMBER RELATED. ROOM REVENUE FOR THE YEAR WAS $7,401,972 OF WHICH $6,554,450 WAS MEMBER RELATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert H Scarborough III Secretary & Vice President | OfficerTrustee | 1 | $0 |
Patrick W Gross Vice President & Treasurer | OfficerTrustee | 1 | $0 |
Healy M Rice President & Chairman | OfficerTrustee | 1 | $0 |
Lora E Farkas Vice President | OfficerTrustee | 1 | $0 |
Elizabeth H Denison Vice Chairman | OfficerTrustee | 1 | $0 |
Andrew Sinwell Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Waves Pool Management Llc Lifeguards | 4/29/23 | $390,604 |
Open Source Communications Inc It Services | 4/29/23 | $200,909 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $145,600 |
| 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 | $145,600 |
| Total Program Service Revenue | $10,345,015 |
| Investment income | $5,996 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$569,991 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,523,169 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,125,831 |
| 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. | $557,590 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,913,761 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $340,774 |
| Payroll taxes | $536,014 |
| 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 | $1,763,596 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $165,934 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,792,093 |
| Insurance | $1,438,529 |
| All other expenses | $769,214 |
| Total functional expenses | $14,978,753 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,236,899 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $455,234 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $163,524 |
| Prepaid expenses and deferred charges | $132,730 |
| Net Land, buildings, and equipment | $12,480,947 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $241,279 |
| Total assets | $21,710,613 |
| Accounts payable and accrued expenses | $1,612,821 |
| Grants payable | $0 |
| Deferred revenue | $750,000 |
| 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 | $5,031,130 |
| Total liabilities | $7,393,951 |
| Net assets without donor restrictions | $14,316,662 |
| 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 | $21,710,613 |