Landings Racquet Club Inc
- Assets
- $2.1m
- Revenue
- $633.5k
- Investments
- $0.0
- Employees
- 9
- Location
- Sarasota, FL
- Founding
- 10/1996
- Data as of
- 12/2023
- EIN
- 59-2847526
Organization Overview
Landings Racquet Club Inc is located in Sarasota, FL. The organization was established in 1996. 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 12/2023, Landings Racquet Club Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Landings Racquet 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 12/2023, Landings Racquet Club Inc generated $633.5k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $631.6k during the year ending 12/2023. 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 PURPOSE OF THE CLUB IS TO PROVIDE MEMBERS WITH THE USE AND ENJOYMENT OF RECREATIONAL FACILITIES. FACILITIES INCLUDE 8 TENNIS COURTS, SWIMMING POOL, A FITNESS EQUIPMENT BUILDING, TWO SOCIAL CLUBHOUSES AND A PRO SHOP/ADMIN BUILDING ALL AVAILABLE DAILY TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLUB MEMBERS WERE ABLE TO USE THE RECREATIONAL FACILITIES FOR TENNIS, SWIMMING, FITNESS AND SOCIAL FUNCTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neil Goldman Director | Trustee | 6 | $0 |
George Ulrich Director | Trustee | 1 | $0 |
Paige Packman Director | Trustee | 3 | $0 |
Bob Golicher Vice President | OfficerTrustee | 1 | $0 |
Ellen Demos Secretary | OfficerTrustee | 3 | $0 |
Beth Cotner President | OfficerTrustee | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $579,315 |
| 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 | $579,315 |
| Total Program Service Revenue | $51,205 |
| Investment income | $129 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,811 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $633,460 |
| 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 | $235,625 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,192 |
| 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 | $18,519 |
| Information technology | $7,437 |
| Royalties | $0 |
| Occupancy | $126,474 |
| Travel | $0 |
| 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 | $92,225 |
| Insurance | $59,288 |
| All other expenses | $1,200 |
| Total functional expenses | $631,630 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $266,449 |
| Savings and temporary cash investments | $612,645 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,406 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,702 |
| Prepaid expenses and deferred charges | $33,388 |
| Net Land, buildings, and equipment | $1,168,612 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,133,202 |
| Accounts payable and accrued expenses | $234 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $9,493 |
| Other liabilities | $214,250 |
| Total liabilities | $223,977 |
| Net assets without donor restrictions | $293,005 |
| Net assets with donor restrictions | $1,616,220 |
| 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 | $2,133,202 |