Memphis Country Club
- Assets
- $45.0m
- Revenue
- $12.8m
- Investments
- $0.0
- Employees
- 205
- Location
- Memphis, TN
- Founding
- 07/1934
- Data as of
- 10/2023
- EIN
- 62-0291410
Organization Overview
Memphis Country Club is located in Memphis, TN. The organization was established in 1934. 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 10/2023, Memphis Country Club employed 205 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis Country Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 10/2023, Memphis Country Club generated $12.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $12.2m during the year ending 10/2023. While expenses have increased by 3.6% 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
SOCIAL AND RECREATIONAL CLUB PROVIDING ACTIVITIES TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTAURANT AND BAR SALES, SPORTS AND HEALTH ACTIVITIES WERE PROVIDED TO AN ESTIMATED 1,000 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Mccown Smith Jr President | Trustee | 1 | $0 |
Robert F Fogelman II 1st Vice President | Trustee | 1 | $0 |
Raymond M Dearman Jr 2nd Vice President & Treas | Trustee | 1 | $0 |
John C Dillon III Secretary | Trustee | 1 | $0 |
David L Bourland Attorney | Trustee | 1 | $0 |
Benjamin W Barksdale Golf Chair | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sanders Golf Course Consultant | 10/30/17 | $543,021 |
Timothy A Rush Golf Professional | 10/30/17 | $368,290 |
Timberline Tree & Lawn Care Course Maintenance | 10/30/17 | $110,770 |
Jackson Sand Course Maintenance | 10/30/17 | $105,779 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $6,183,325 |
| 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 | $6,183,325 |
| Total Program Service Revenue | $2,404,875 |
| Investment income | $81,025 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$61,305 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,016,318 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,833,794 |
| 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. | $479,435 |
| Compensation of current officers, directors, key employees. | $479,435 |
| Compensation to disqualified persons | $4,832,205 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $924,558 |
| Payroll taxes | $456,413 |
| 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 | $528,175 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $633,376 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $369,274 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,761,804 |
| Insurance | $253,211 |
| All other expenses | $255,000 |
| Total functional expenses | $12,182,425 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $78,205 |
| Savings and temporary cash investments | $477,505 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $882,207 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $584,320 |
| Inventories for sale or use | $556,072 |
| Prepaid expenses and deferred charges | $110,862 |
| Net Land, buildings, and equipment | $38,256,963 |
| Investments—publicly traded securities | $567,422 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,791,209 |
| Other assets | $652,733 |
| Total assets | $44,957,498 |
| Accounts payable and accrued expenses | $2,194,266 |
| Grants payable | $0 |
| Deferred revenue | $57,063 |
| 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 | $19,674,466 |
| Other liabilities | $1,288,502 |
| Total liabilities | $23,214,297 |
| Net assets without donor restrictions | $21,743,201 |
| 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 | $44,957,498 |