Broken Sound Club Inc
- Assets
- $75.0m
- Revenue
- $29.7m
- Investments
- $0.0
- Employees
- 510
- Location
- Boca Raton, FL
- Founding
- 03/1999
- Data as of
- 09/2021
- EIN
- 59-2718435
Organization Overview
Broken Sound Club Inc is located in Boca Raton, FL. The organization was established in 1999. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 09/2021, Broken Sound Club Inc employed 510 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Broken Sound 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 09/2021, Broken Sound Club Inc generated $29.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $33.7m during the year ending 09/2021. 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
2021
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 MAINTAINS AND OPERATES TWO 18 HOLE GOLF COURSES. ROUNDS PLAYED DURING THE YEAR WERE APPROXIMATELY 65,857 OF WHICH 159 WERE NONMEMBER RELATED.
THE CLUB MAINTAINS DINING FACILITIES FOR THE BENEFIT OF ITS MEMBERS AND THEIR GUESTS. TOTAL FOOD AND BEVERAGE SALES FOR THE YEAR WAS $2,617,285 OF WHICH $137,940 WAS NONMEMBER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Crean General Manager | Officer | 40 | $785,752 |
Cathy Grana Assistant General Manager | Officer | 40 | $276,312 |
Gregory Wheaton Director Of Tennis | 40 | $241,786 | |
Shannon Easter Director Of Golf Maintenance | 40 | $207,478 | |
Edward Cichielo Clubhouse Manager | Officer | 40 | $199,373 |
Dianne L Hart Director Of Finance | Officer | 40 | $191,243 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sachs Sax Caplan Inc Legal Services | 9/29/21 | $200,153 |
Moskowitz Mandell Salim Simowitz Legal Services | 9/29/21 | $130,919 |
Laing & Weicholz Pl Legal Services | 9/29/21 | $254,400 |
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 | $29,277,034 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $351 |
| Net Gain/Loss on Asset Sales | -$1,876,336 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,205,423 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,709,984 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,156,310 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,127,010 |
| Payroll taxes | $0 |
| 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 | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $412,065 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,862,229 |
| Insurance | $910,459 |
| All other expenses | $4,026,940 |
| Total functional expenses | $33,704,987 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,894,767 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,957,808 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $593,235 |
| Prepaid expenses and deferred charges | $1,111,206 |
| Net Land, buildings, and equipment | $60,911,982 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,565,454 |
| Total assets | $75,034,452 |
| Accounts payable and accrued expenses | $4,140,815 |
| Grants payable | $0 |
| Deferred revenue | $8,070,097 |
| 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 | $16,763,758 |
| Total liabilities | $28,974,670 |
| Net assets without donor restrictions | $46,059,782 |
| 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 | $75,034,452 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Landings Club Inc Savannah, GA | $76,235,389 | $43,044,375 |
Ballenisles Country Club Inc Palm Beach Gardens, FL | $102,659,603 | $33,522,329 |
Bonita Bay Club Inc Bonita Springs, FL | $91,256,016 | $30,477,869 |
Broken Sound Club Inc Boca Raton, FL | $75,034,452 | $29,709,984 |
Country Club Of Birmingham Mountain Brook, AL | $47,639,454 | $23,076,044 |
Jonathans Landing Golf Club Inc Jupiter, FL | $59,911,329 | $17,646,734 |
Shadow Wood Country Club Inc Bonita Springs, FL | $55,101,901 | $17,682,525 |
Sawgrass Country Club Inc Ponte Vedra Bch, FL | $52,066,514 | $17,219,886 |
Lost Tree Club Inc North Palm Beach, FL | $50,198,278 | $14,415,754 |
Kings Point Recreation Corporation Inc Delray Beach, FL | $17,448,550 | $25,502,124 |
Aberdeen Golf & Country Club Inc Boynton Beach, FL | $55,724,484 | $13,720,029 |
Oaks Club Corporation Osprey, FL | $41,379,362 | $16,079,534 |