Lake Charles Racquet Club
- Assets
- $1.3m
- Revenue
- $762.7k
- Investments
- $0.0
- Employees
- 36
- Location
- Lake Charles, LA
- Founding
- 11/1983
- Data as of
- 12/2021
- EIN
- 72-0741704
Organization Overview
Lake Charles Racquet Club is located in Lake Charles, LA. The organization was established in 1983. 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, Lake Charles Racquet Club employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Charles Racquet 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, Lake Charles Racquet Club generated $762.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $938.5k during the year ending 12/2021. 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
LAKE CHARLES RACQUET CLUB IS AN EXCLUSIVE PRIVATE CLUB OFFERING THE IDEAL ENVIRONMENT FOR TENNIS, EXERCISE, SWIMMING, DINING, SOCIALIZATION, & RELAXATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKE CHARLES RACQUET CLUB IS AN EXCLUSIVE PRIVATE CLUB OFFERING THE IDEAL ENVIRONMENT FOR TENNIS, EXERCISE, SWIMMING, DINING, SOCIALIZATION, & RELAXATION.
LAKE CHARLES RACQUET CLUB IS AN EXCLUSIVE PRIVATE CLUB OFFERING THE IDEAL ENVIRONMENT FOR TENNIS, EXERCISE, SWIMMING, DINING, SOCIALIZATION & RELAXATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Chaumont Club Manager | Officer | 40 | $51,891 |
Steven Perez President | OfficerTrustee | 2 | $0 |
John Digigiglia Board Member | Trustee | 2 | $0 |
Jennifer Couste Board Member | Trustee | 2 | $0 |
Tom Filo Board Member | Trustee | 2 | $0 |
Carrie Kuehn Board Member | 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 | $975,951 |
| Investment income | $55 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$207,918 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$51,669 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $762,737 |
| 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 | $221,573 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,059 |
| Payroll taxes | $28,709 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,000 |
| Fees for services: Accounting | $4,651 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,500 |
| Advertising and promotion | $0 |
| Office expenses | $2,170 |
| Information technology | $6,330 |
| Royalties | $0 |
| Occupancy | $62,696 |
| Travel | $57 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $308 |
| Interest | $46,355 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $119,041 |
| Insurance | $58,394 |
| All other expenses | $56,038 |
| Total functional expenses | $938,544 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,650 |
| Savings and temporary cash investments | $137,271 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $119,830 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,934 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $973,703 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $7,471 |
| Other assets | $17,372 |
| Total assets | $1,337,231 |
| Accounts payable and accrued expenses | $27,159 |
| Grants payable | $0 |
| Deferred revenue | $57,599 |
| 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 | $1,154,728 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,996 |
| Total liabilities | $1,242,482 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $273,739 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$178,990 |
| Total liabilities and net assets/fund balances | $1,337,231 |
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