Loch Lomond Beach Club Inc
- Assets
- $2.7m
- Revenue
- $554.0k
- Investments
- $0.0
- Employees
- 20
- Location
- Birchwood, WI
- Founding
- 09/2006
- Data as of
- 03/2022
- EIN
- 91-0849566
Organization Overview
Loch Lomond Beach Club Inc is located in Birchwood, WI. The organization was established in 2006. 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 03/2022, Loch Lomond Beach Club Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loch Lomond Beach Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 03/2022, Loch Lomond Beach Club Inc generated $554.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $524.9k during the year ending 03/2022. While expenses have increased by 7.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FOSTER AND MAINTAIN FRIENDSHIP AMONG MEMBERS AND MAINTAIN CLUB PROPERTIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WILL OPERATE THE CLUBHOUSE FACILITY AS ITS PRIMARY PURPOSE TO FOSTER AND MAINTAIN FRIENDSHIP AMONG ITS MEMBERS THROUGH RECREATIONAL AND SOCIAL ACTIVITIES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shawn Blaney President | OfficerTrustee | 1 | $0 |
Jim Ludwig Vice President | OfficerTrustee | 1 | $0 |
Heather Vangerud Secretary | OfficerTrustee | 1 | $0 |
Joann Mertens Treasurer | OfficerTrustee | 1 | $0 |
Dave Meyer Director | Trustee | 1 | $0 |
John Bond Director | Trustee | 1 | $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 | $478,037 |
| Investment income | $4,723 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $36,178 |
| Net Gain/Loss on Asset Sales | $4,877 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $27,751 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $554,017 |
| 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 | $123,943 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,146 |
| Payroll taxes | $10,913 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,363 |
| Fees for services: Accounting | $19,498 |
| 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 | $4,241 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $65,152 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $46,517 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $138,988 |
| Insurance | $0 |
| All other expenses | $12,067 |
| Total functional expenses | $524,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $312,330 |
| Savings and temporary cash investments | $357,438 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,426 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $74 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,010,580 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,011 |
| Other assets | $9,491 |
| Total assets | $2,701,350 |
| Accounts payable and accrued expenses | $371 |
| 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 | $969,759 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $263,062 |
| Total liabilities | $1,233,192 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $466,025 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,002,133 |
| Total liabilities and net assets/fund balances | $2,701,350 |
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