Medalist Golf Club Inc
- Assets
- $23.0m
- Revenue
- $7.1m
- Investments
- $0.0
- Employees
- 74
- Location
- Hobe Sound, FL
- Founding
- 12/1996
- Data as of
- 06/2023
- EIN
- 65-0530877
Organization Overview
Medalist Golf Club Inc is located in Hobe Sound, 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 06/2023, Medalist Golf Club Inc employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medalist Golf 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 06/2023, Medalist Golf Club Inc generated $7.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $7.5m during the year ending 06/2023. While expenses have increased by 7.8% per year over the past 4 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 BIND MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDALIST GOLF CLUB, INC. IS A RECREATIONAL CLUB WHOSE EXEMPT PURPOSES IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES.
MEDALIST GOLF CLUB, INC. IS A RECREATIONAL CLUB WHOSE EXEMPT PURPOSES IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason L Jobson Superintende | 40 | $381,670 | |
Cary Sciorra Golf Pro | 40 | $318,265 | |
Rick Westgate Secy, Club M | 10 | $155,485 | |
Jill Burnett CFO | 40 | $122,901 | |
Eddie Carbone Secy,club Ma | OfficerTrustee | 40 | $28,248 |
Olin Browne Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,277,271 |
| 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 | $4,277,271 |
| Total Program Service Revenue | $1,587,347 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,178 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,025,702 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,064,296 |
| 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 | $3,256,939 |
| Pension plan accruals and contributions | $61,905 |
| Other employee benefits | $210,590 |
| Payroll taxes | $176,194 |
| 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 | $86,156 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $113,600 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,658 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,015,717 |
| Insurance | $403,256 |
| All other expenses | $315,293 |
| Total functional expenses | $7,539,637 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,830,002 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $326,839 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $207,407 |
| Prepaid expenses and deferred charges | $202,869 |
| Net Land, buildings, and equipment | $12,600,665 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,793,011 |
| Total assets | $22,960,793 |
| Accounts payable and accrued expenses | $422,283 |
| Grants payable | $0 |
| Deferred revenue | $2,188,750 |
| 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 | $227,036 |
| Total liabilities | $2,838,069 |
| Net assets without donor restrictions | $18,302,598 |
| Net assets with donor restrictions | $1,820,126 |
| 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 | $22,960,793 |