The Racquet Club is located in Midland, TX. The organization was established in 1961. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Racquet Club employed 101 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 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, Racquet Club generated $4.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $4.0m during the year ending 12/2021. While expenses have increased by 5.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TENNIS AND DINING SOCIAL CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RACQUET CLUB OPERATES A TENNIS, SWIMMING, AND DINING FACILITY FOR SOCIAL BENEFIT OF ITS MEMBERS. THESE FACILITIES BENEFIT IN EXCESS OF 300 MEMBERS AND THEIR FAMILIES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Bob Strohecker General Manager | Officer | 50 | $150,534 |
Jessica Speaker Assistant Gm | 50 | $125,000 | |
Shay Anderson Supervisor | 50 | $100,847 | |
Chan Price Treasurer | OfficerTrustee | 1 | $0 |
Steven Jeffcoat Secretary | OfficerTrustee | 1 | $0 |
Will Abney President | OfficerTrustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $422,765 |
All other contributions, gifts, grants, and similar amounts not included above | $95,461 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $518,226 |
Total Program Service Revenue | $2,639,348 |
Investment income | $0 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
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 | $944,658 |
Miscellaneous Revenue | $0 |
Total Revenue | $4,486,581 |
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. | $150,534 |
Compensation of current officers, directors, key employees. | $90,320 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,060,898 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $312,271 |
Payroll taxes | $173,885 |
Fees for services: Management | $0 |
Fees for services: Legal | $1,404 |
Fees for services: Accounting | $10,682 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $1,895 |
Advertising and promotion | $0 |
Office expenses | $80,639 |
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 | $343,984 |
Insurance | $98,822 |
All other expenses | $96,219 |
Total functional expenses | $3,950,025 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $534,831 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $825,530 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $86,965 |
Prepaid expenses and deferred charges | $24,094 |
Net Land, buildings, and equipment | $3,646,445 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $5,117,865 |
Accounts payable and accrued expenses | $215,266 |
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 | $0 |
Total liabilities | $215,266 |
Net assets without donor restrictions | $4,902,599 |
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 | $5,117,865 |
Organization Name | Assets | Revenue |
---|---|---|
Houston Country Club Houston, TX | $109,550,970 | $26,529,286 |
Royal Oaks Country Club Inc Dallas, TX | $36,812,671 | $18,720,235 |
Northwood Club Dallas, TX | $57,507,067 | $19,852,706 |
Oklahoma City Golf & Country Club Nichols Hills, OK | $30,261,356 | $14,527,744 |
Dallas Athletic Club Dallas, TX | $25,203,289 | $20,444,344 |
Austin Country Club Austin, TX | $33,624,786 | $15,055,486 |
Briar Club Houston, TX | $45,723,367 | $13,689,453 |
Lakewood Country Club Dallas, TX | $36,499,894 | $12,939,033 |
Southern Hills Country Club Tulsa, OK | $59,775,336 | $17,253,423 |
Bent Tree Country Club Inc Dallas, TX | $52,898,770 | $18,703,072 |
San Antonio Bowl Association Inc San Antonio, TX | $23,366,634 | $15,285,082 |
Bowling Proprietors Association Of America Inc Arlington, TX | $23,082,341 | $10,209,119 |