Idle Hour Country Club Inc
- Assets
- $16.6m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 263
- Location
- Lexington, KY
- Founding
- 02/1948
- Data as of
- 12/2023
- EIN
- 61-0411681
Organization Overview
Idle Hour Country Club Inc is located in Lexington, KY. The organization was established in 1948. 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, Idle Hour Country Club Inc employed 263 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Idle Hour 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 12/2023, Idle Hour Country Club Inc generated $7.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $8.8m during the year ending 12/2023. While expenses have increased by 4.6% per year over the past 9 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
TO PROVIDE A RECREATIONAL CLUB FOR MEMBERS TO COMMINGLE
Describe the Organization's Program Activity:
Part 3 - Line 4a
IDLE HOUR COUNTRY CLUB MAINTAINS A GOLF COURSE, SWIMMING POOL, TENNIS FACILITY, WELLNESS CENTER AND DINING FACILITY FOR MEMBER USE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Garvey Golf Professional | 40 | $127,896 | |
Matthew Wharton Golf Course Superintendant | 40 | $165,385 | |
Julie B Fritsche Manager | 40 | $108,470 | |
Robert W Rouse Chair | Trustee | 2 | $0 |
Jeff Jefferson Vice Chairman | Trustee | 2 | $0 |
Tracie Sturgill Secretary | Trustee | 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 | $6,071,974 |
| Investment income | $10,765 |
| 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 | $1,670,665 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,937,999 |
| 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 | $4,152,840 |
| Pension plan accruals and contributions | $10,151 |
| Other employee benefits | $292,660 |
| Payroll taxes | $386,168 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $212,238 |
| Advertising and promotion | $0 |
| Office expenses | $77,515 |
| Information technology | $72,334 |
| Royalties | $0 |
| Occupancy | $468,363 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $62,653 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $965,786 |
| Insurance | $126,067 |
| All other expenses | $814,286 |
| Total functional expenses | $8,837,201 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $247,791 |
| Savings and temporary cash investments | $221,747 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,029,023 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $55,616 |
| Prepaid expenses and deferred charges | $72,202 |
| Net Land, buildings, and equipment | $11,138,026 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,825,243 |
| Total assets | $16,589,648 |
| Accounts payable and accrued expenses | $621,676 |
| Grants payable | $0 |
| Deferred revenue | $1,978,175 |
| 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 | $1,279,854 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,577,201 |
| Total liabilities | $7,456,906 |
| Net assets without donor restrictions | $9,130,785 |
| Net assets with donor restrictions | $1,957 |
| 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 | $16,589,648 |