The Institute Golf Club
- Assets
- $758.1k
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 49
- Location
- Morgan Hill, CA
- Founding
- Data as of
- 12/2023
- EIN
- 84-4165400
Organization Overview
The Institute Golf Club is located in Morgan Hill, CA. As of 12/2023, Institute Golf Club employed 49 individuals. Institute Golf Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Institute Golf Club generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 24.2% each year . All expenses for the organization totaled $4.2m during the year ending 12/2023. 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
THE ORGANIZATION'S ACTIVITIES ARE CONDUCTED AND OPERATED SUBSTANTIALLY FOR THE PLEASURE & RECREATION OF ITS MEMBERS. ALL PROGRAMS OF THE ORGANIZATION ARE RELATED TO THE PURPOSE OF PROVIDING SOCIAL & RECREATIONAL BENEFITS TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOCIAL & RECREATIONAL PROGRAMS, SEE PART VIII FOR LISTINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Sanchez President, CFO & Secretary | OfficerTrustee | 20 | $99,000 |
Michael Fitzgerald Golf Professional | 40 | $106,800 | |
Juan Altamirano Superintendent | 40 | $100,800 |
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 | $1,848,548 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,795 |
| 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 | $354,960 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,281,650 |
| 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. | $99,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,564,050 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $244,609 |
| Payroll taxes | $140,445 |
| 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 | $131,094 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $757,970 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $130,018 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,776 |
| Insurance | $112,717 |
| All other expenses | $0 |
| Total functional expenses | $4,216,160 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $264,342 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $386,916 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $24,992 |
| Prepaid expenses and deferred charges | $28,696 |
| Net Land, buildings, and equipment | $53,114 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $758,060 |
| Accounts payable and accrued expenses | $192,793 |
| 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 | $5,523,382 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,716,175 |
| 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 | -$4,958,115 |
| Total liabilities and net assets/fund balances | $758,060 |