Magnolia Country Club
- Assets
- $646.2k
- Revenue
- $615.5k
- Investments
- $0.0
- Employees
- 34
- Location
- Magnolia, AR
- Founding
- 01/1974
- Data as of
- 12/2021
- EIN
- 71-6040942
Organization Overview
Magnolia Country Club is located in Magnolia, AR. The organization was established in 1974. 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 12/2021, Magnolia Country Club employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magnolia 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 12/2021, Magnolia Country Club generated $615.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $597.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE COUNTRY CLUB PROVIDES SOCIALIZATION OPPORTUNITIES AND RECREATION OPPORTUNITIES FOR PEOPLE OF THE LOCAL COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTAURANT AND BAR FACILITIES - THE COUNTRY CLUB PROBIDES FACILITIES FOR SOCIALIZATION AND MEALS IN A COMFORTABLE QUIET ATMOSPHERE OVERLOOKING A BEAUTIFULLY MANICURED 18 HOLE GOLF COURSE.
GOLF COURSE, SWIMMING POOL AND TENNIS COURTS - THE COUNTRY CLUB PROVIDES OPPORTUNITIES FOR ENJOYABLE RECREATION AND SOCIALIZATION WITH FAMILY, FRIENDS AND GUEST.
THE COURTRY CLUB PROVIDES SOCIALIZATION OPPORTUNITIES FOR PEOPLE OF ALL RACES, COLORS AND CREEDS AND DOES NOT DISCRIMINATE IN ANY OF THESE AREAS.
THE COUNTRY CLUB PROVIDES FACILITIES FOR THE SOCIALIZATION, ENTERTAINMENT AND RECREATION OF MEMBERS, THEIR FAMILIES AND FRIENDS IN A RELAXING ENVIRONMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Whitteni Lindsey Secretary | OfficerTrustee | $0 | |
John Ludwig President | OfficerTrustee | 1 | $0 |
Carson Smith Vice Preside | OfficerTrustee | $0 | |
Jeff Harrington Director | Trustee | $0 | |
Marvin Lindsey Director | Trustee | $0 | |
Sam Odonnell Director | Trustee | $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 | $58,080 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $58,080 |
| Total Program Service Revenue | $383,642 |
| Investment income | $13 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,621 |
| 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 | $168,890 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $615,486 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $325 |
| 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 | $232,572 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,414 |
| Payroll taxes | $25,098 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $690 |
| Fees for services: Accounting | $8,986 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,497 |
| Office expenses | $6,382 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $68,569 |
| Travel | $1,357 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $10,321 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,772 |
| Insurance | $21,210 |
| All other expenses | $86,358 |
| Total functional expenses | $597,504 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,437 |
| Savings and temporary cash investments | $32,381 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $76,728 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,649 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $501,974 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $646,169 |
| Accounts payable and accrued expenses | $18,116 |
| 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 | $200,298 |
| Other liabilities | $0 |
| Total liabilities | $218,414 |
| Net assets without donor restrictions | $0 |
| 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 | $427,755 |
| Total liabilities and net assets/fund balances | $646,169 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
River Oaks Country Club Houston, TX | $73,616,610 | $29,469,284 |
San Antonio Country Club San Antonio, TX | $32,771,937 | $23,788,660 |
Shady Oaks Country Club Inc Fort Worth, TX | $32,968,656 | $15,253,565 |
Pi Beta Phi Fraternity Housing Corporation Town Country, MO | $77,087,429 | $19,221,332 |
Midland Country Club Midland, TX | $28,175,865 | $15,973,291 |
Green Tree Country Club Midland, TX | $24,557,107 | $12,993,458 |
Dngc Member Club Inc Dallas, TX | $29,289,418 | $12,348,181 |
Unity One Credit Union Fort Worth, TX | $307,107,463 | $12,194,283 |
Baton Rouge Country Club Inc Baton Rouge, LA | $28,846,628 | $10,362,184 |
Memphis Country Club Memphis, TN | $17,898,426 | $9,558,758 |
Brae Burn Country Club Houston, TX | $18,876,104 | $6,861,464 |
Mira Vista Country Club Fort Worth, TX | $16,102,268 | $9,038,386 |