Island Country Club Inc
- Assets
- $45.0m
- Revenue
- $12.3m
- Investments
- $0.0
- Employees
- 179
- Location
- Marco Island, FL
- Founding
- 03/1987
- Data as of
- 05/2023
- EIN
- 59-2640521
Organization Overview
Island Country Club Inc is located in Marco Island, FL. The organization was established in 1987. 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 05/2023, Island Country Club Inc employed 179 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Island Country 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 05/2023, Island Country Club Inc generated $12.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $14.4m during the year ending 05/2023. While expenses have increased by 8.3% 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 ISLAND COUNTRY CLUB, INC. IS A SOCIAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEH CLUB HAS ONE 18 HOLE GOLF COURSE. TOTAL ROUNDS OF GOLF PLAYED FOR THE YEAR ENDED 05/31/2023 WAS APPROXIMATELY 24,646 OF WHICH APPROXIMATELY 606 ROUNDS WERE NON-MEMBER RELATED.
TOTAL FOOD & BEVERAGE REVENUE FOR THE YEAR ENDED 05/31/2023 WAS $2,675,005 OF WHICH $206,323 WAS NON-MEMBER RELATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Boynton Director | Trustee | 2 | $0 |
Jim Bursch Director | Trustee | 2 | $0 |
Donna Glanzman Director | Trustee | 2 | $0 |
Harry Rubash Director | Trustee | 2 | $0 |
Robert Stanojev Director | Trustee | 2 | $0 |
William Albanese President | Officer | 2 | $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 | $10,650,134 |
| Investment income | $56,269 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$14,838 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,550,470 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,263,141 |
| 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. | $545,730 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,797,479 |
| Pension plan accruals and contributions | $76,729 |
| Other employee benefits | $1,028,005 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $158,417 |
| 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 | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $132,012 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,167,121 |
| Insurance | $1,001,420 |
| All other expenses | $528,405 |
| Total functional expenses | $14,391,833 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,966,282 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $545,553 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $301,196 |
| Prepaid expenses and deferred charges | $1,462,801 |
| Net Land, buildings, and equipment | $30,815,589 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,908,194 |
| Total assets | $44,999,615 |
| Accounts payable and accrued expenses | $3,225,610 |
| Grants payable | $0 |
| Deferred revenue | $3,803,292 |
| 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 | $10,154,768 |
| Total liabilities | $17,183,670 |
| Net assets without donor restrictions | $27,815,945 |
| 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 | $44,999,615 |