Ocean Club Of Florida Inc
- Assets
- $11.2m
- Revenue
- $4.0m
- Investments
- $1.0k
- Employees
- 114
- Location
- Ocean Ridge, FL
- Founding
- 07/1964
- Data as of
- 04/2022
- EIN
- 59-0970226
Organization Overview
Ocean Club Of Florida Inc is located in Ocean Ridge, FL. The organization was established in 1964. 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 04/2022, Ocean Club Of Florida Inc employed 114 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocean Club Of Florida Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 04/2022, Ocean Club Of Florida Inc generated $4.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $4.9m during the year ending 04/2022. While expenses have increased by 0.3% 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
2022
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
OCEAN CLUB OF FLORIDA, INC. OPERATES AND MAINTAINS A CLUBHOUSE FOR MEMBERS. FOOD AND BEVERAGE SALES FOR THE YEAR TOTALED $1,116,049 OF WHICH $16,170 WAS NONMEMBER RELATED.
THE CLUB ALSO MAINTAINS TENNIS COURT FACILITIES. TENNIS REVENUE FOR THE YEAR TOTALED $223,480.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Pavone General Manager | Officer | 40 | $245,500 |
Scott Reinmund Tennis Pro | Officer | 40 | $165,000 |
Anthony Marazita Executive Chef | Officer | 40 | $161,250 |
Diane Pye Controller | 40 | $145,250 | |
Helmut Karner Former Executive Chef | 40 | $127,883 | |
Mitch Engel President | Officer | 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 | $3,353,224 |
| Investment income | $224 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$51,228 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $619,772 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,033,373 |
| 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. | $601,923 |
| Compensation of current officers, directors, key employees. | $214,852 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,986,313 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $418,608 |
| Payroll taxes | $189,502 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $56,433 |
| 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 | $115,635 |
| Information technology | $17,595 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $11,795 |
| 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 | $472,485 |
| Insurance | $232,604 |
| All other expenses | $145,070 |
| Total functional expenses | $4,867,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $664,619 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $569,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $202,621 |
| Prepaid expenses and deferred charges | $355,124 |
| Net Land, buildings, and equipment | $9,379,132 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,299 |
| Total assets | $11,203,795 |
| Accounts payable and accrued expenses | $785,168 |
| 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 | $2,751,660 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $614,242 |
| Total liabilities | $4,151,070 |
| Net assets without donor restrictions | $7,052,725 |
| 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 | $11,203,795 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Palm Beach Country Club Palm Beach, FL | $28,111,995 | $21,230,123 |
The Club At Pelican Bay Inc Naples, FL | $49,551,991 | $15,480,224 |
United States Specialty Sports Association Inc Melbourne, FL | $30,501,525 | $19,243,372 |
Alpha Delta Pi Sorority Atlanta, GA | $18,755,038 | $19,005,623 |
Quail Ridge Country Club Inc Boynton Beach, FL | $44,841,038 | $11,345,026 |
Quail Creek Country Club Inc Naples, FL | $44,189,570 | $16,205,695 |
Lagorce Country Club Miami Beach, FL | $36,015,198 | $11,628,028 |
Amateur Athletic Union Of The United States Inc Lake Buena Vista, FL | $14,686,196 | $10,174,860 |
Harbour Ridge Country Club Palm City, FL | $48,715,310 | $11,636,786 |
Dunwoody Country Club Inc Atlanta, GA | $25,487,572 | $16,307,962 |