Loblolly Inc
- Assets
- $25.0m
- Revenue
- $8.6m
- Investments
- $3.0m
- Employees
- 151
- Location
- Hobe Sound, FL
- Founding
- 03/1999
- Data as of
- 06/2022
- EIN
- 65-0004016
Organization Overview
Loblolly Inc is located in Hobe Sound, 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 06/2022, Loblolly Inc employed 151 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loblolly Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2022, Loblolly Inc generated $8.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $10.5m during the year ending 06/2022. While expenses have increased by 3.5% per year over the past 7 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
2022
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 HAS AN 18-HOLE GOLF COURSE. TOTAL ROUNDS OF GOLF PLAYED DURING THE YEAR WERE APPROXIMATELY 18,667 OF WHICH 0 WERE NONMEMBER RELATED.
THE CLUB OPERATES AND MAINTAINS A CLUBHOUSE FOR MEMBERS. FOOD AND BEVERAGE SALES FOR THE YEAR TOTALED $1,718,891 OF WHICH 0 WERE NONMEMBER RELATED.
THE CLUB OPERATES AND MAINTAINS TENNIS COURT AND FITNESS FACILITIES. TOTAL REVENUES FOR THE YEAR FOR THESE ACTIVITIES WAS $64,901 OF WHICH 0 WERE NONMEMBER RELATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William S Turner President | OfficerTrustee | 4 | $0 |
Phyllis R Finn Vice President/treasurer | OfficerTrustee | 4 | $0 |
Wayne D Boberg Secretary | OfficerTrustee | 1 | $0 |
Thomas R Riley Treasurer | OfficerTrustee | 1 | $0 |
Clayton E Gengras Director | Trustee | 1 | $0 |
Mimi H Burke Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Schuette Golf Llc Golf Operations | 6/29/20 | $504,705 |
Cheryl Dilg Spa Director | 6/29/20 | $274,371 |
Theron Bass Tennis Pro | 6/29/20 | $145,482 |
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 | $7,067,417 |
| Investment income | $180,839 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$73,437 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $945,293 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,595,909 |
| 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 | $4,714,231 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $888,358 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,332,497 |
| Insurance | $422,529 |
| All other expenses | $905,992 |
| Total functional expenses | $10,537,721 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $460,021 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,500,000 |
| Inventories for sale or use | $59,771 |
| Prepaid expenses and deferred charges | $294,668 |
| Net Land, buildings, and equipment | $18,270,243 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,973,991 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,457,817 |
| Total assets | $25,016,511 |
| Accounts payable and accrued expenses | $1,106,666 |
| 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 | $0 |
| Other liabilities | $30,000 |
| Total liabilities | $1,136,666 |
| Net assets without donor restrictions | $23,879,845 |
| 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 | $25,016,511 |