West Palm Golf Community Trust Inc
- Assets
- $55.4m
- Revenue
- $9.3m
- Investments
- $0.0
- Employees
- 10
- Location
- West Palm Beach, FL
- Founding
- Data as of
- 12/2022
- EIN
- 85-4141988
Organization Overview
West Palm Golf Community Trust Inc is located in West Palm Beach, FL. As of 12/2022, West Palm Golf Community Trust Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. West Palm Golf Community Trust Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, West Palm Golf Community Trust Inc generated $9.3m in total revenue.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION WILL RECEIVE AND ADMINISTER REAL AND PERSONAL PROPERTY AND TO APPLY SUCH PROPERTY, AS WELL AS THE INCOME IT PRODUCES, EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, LITERARY, AND EDUCATIONAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS DEVELOPING A GOLF FACILITY DEDICATED TO INCLUSIVITY, COMMUNITY OUTREACH, AND JUNIOR GOLFER DEVELOPMENT PROGRAMS. THE DEVELOPMENT AND CONSTRUCTION OF THE FACILITY BEGAN IN 2021 AND WILL CONTINUE THROUGH 2022. ALL COSTS WERE CAPITALIZED IN 2021 AND 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Seth Waugh President | OfficerTrustee | 3 | $0 |
Dirk Ziff Director | Trustee | 3 | $0 |
Dan Stanton Director | Trustee | 3 | $0 |
Chris Williams Director | Trustee | 3 | $0 |
Thomas Frankel Director | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mason Development & Construction Llc Development & Construction | 12/30/22 | $10,770,558 |
Total Turf Golf Services Construction | 12/30/22 | $2,428,032 |
Clear Span Structures Llc Construction | 12/30/22 | $2,325,563 |
Empire Landscape Landscaping | 12/30/22 | $904,590 |
Barnett Management Management | 12/30/22 | $568,116 |
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 | $9,310,248 |
| Noncash contributions included in lines 1a–1f | $1,554,459 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,310,248 |
| Total Program Service Revenue | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,310,248 |
| 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 | $363,744 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,966 |
| 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 | $93,997 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $965 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $783 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,718 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $493,412 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,292,867 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $10,851,349 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $27,512 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,838,407 |
| Other assets | $33,404,751 |
| Total assets | $55,414,886 |
| Accounts payable and accrued expenses | $1,663,814 |
| 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 | $110,485 |
| Total liabilities | $1,774,299 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $53,640,587 |
| 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 | $55,414,886 |