Banyan Golf Club Of Palm Beach Inc

The information for Banyan Golf Club Of Palm Beach Inc is as of the organization's most recent filing in October 2019. This organization is located in West Palm Beach, FL. It has been in existence for 45 years, following its founding in 1974.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Banyan Golf Club Of Palm Beach Inc's NTEE code is N60. The "N" tells us that the organization is classified along with Recreation & Sports. The "60" tells us that the organization is an Amateur Sports organization. The NTEE describes Amateur Sports organizations as those that provide opportunities for people of all ages to learn, become competitive in and enjoy organized recreational activities, sports or games. These programs may provide access to equipment and facilities and sponsor or arrange for athletes to participate in amateur competitions.

Every organization is also governed by a specific section of the Internal Revenue Code. The most common type is a 501(c)(3) organization. However, there are actually 29 different types of organizations that are identified by the Internal Revenue Code. This organization happens to be a 501(c)(7) organization. The IRS describes these organizations as Social and Recreational Clubs.

Perhaps the most accurate way to get a sense of what the organization hopes to achieve is by looking at its mission. The mission of the Banyan Golf Club Of Palm Beach Inc is to bind its members together by a common objective directed at pleasure and recreation.

Program Areas

Program Area 1: Restaurant/Bar total revenues for the year totaled $474,078, of which $26,924 was generated from non-member related activities.

Program Area 2: The Golf Course program area is related to the number of rounds played during the year, which totaled 18,775 of which 1,503 were non-member related.

Program Area 3: This program area is focused on golf related income from non-members, which was reported as $91,731 for the year ended 10/31/19.

Organization Staffing

Banyan Golf Club Of Palm Beach Inc is run by Stephen Karp, who is the President. The organization has 80 employees, of whom only 5 are paid more than $100k per year (according to the organization's most recent 990 tax filing). Supporting the paid staff are 15 volunteers.

Board Governance

Banyan Golf Club Of Palm Beach Inc is well-governed with a total of 15 voting members and 15 independent members. Potential conflicts of interest do not exist, and the organization has not delegated management to an outside firm. Board meetings are documented, as are committee meetings. The organization has a written whistleblower policy, a document retention policy, and they substantiate and review leadership and officer's salaries. However, the organization does not provide copies of the 990 to the board prior to filing. Overall, Banyan Golf Club Of Palm Beach Inc is well-governed and adheres to best practices for non-profit organizations.

Organization Growth

Overall, Banyan Golf Club of Palm Beach Inc has grown over the past four years. Program Service Revenue, Investment Income, Other Revenue, and Total Revenue have all increased from 2014 to 2018. Employee Salaries have also increased over this time period. Unfortunately, Total Expenses and the number of employees and volunteers have also increased over this time period.