Valley Club Of Montecito
- Assets
- $15.9m
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 88
- Location
- Montecito, CA
- Founding
- 04/1931
- Data as of
- 06/2024
- EIN
- 95-1324620
Organization Overview
Valley Club Of Montecito is located in Montecito, CA. The organization was established in 1931. 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 06/2024, Valley Club Of Montecito employed 88 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Club Of Montecito is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2024, Valley Club Of Montecito generated $9.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $10.3m during the year ending 06/2024. While expenses have increased by 6.2% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A COUNTRY CLUB
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION AND MAINTENANCE OF A COUNTRY CLUB WITH GOLF AND TENNIS FACILITIES ALONG WITH A DINING ROOM AND COCKTAIL BAR. AS OF JUNE 30, 2024, THE CLUB SERVES 403 MEMBERS AND THEIR GUESTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel A Mead General Manager | OfficerTrustee | 40 | $211,583 |
Harry Mcmahon President | OfficerTrustee | 1 | $0 |
Roger M Laverty III Vice President | OfficerTrustee | 1 | $0 |
Ben J Mascari Vice President | OfficerTrustee | 1 | $0 |
Barbara Degroot Director | OfficerTrustee | 1 | $0 |
James Dunn 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 | $342,277 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $342,277 |
| Total Program Service Revenue | $7,249,290 |
| Investment income | $87,824 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $199,950 |
| Net Gain/Loss on Asset Sales | -$3,906 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,175,896 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,207,536 |
| 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. | $408,211 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,716,843 |
| Pension plan accruals and contributions | $199,842 |
| Other employee benefits | $560,470 |
| Payroll taxes | $327,160 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,822 |
| Fees for services: Accounting | $25,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $158,608 |
| Advertising and promotion | $286 |
| Office expenses | $115,115 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $500,493 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,079 |
| Interest | $788 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,180,788 |
| Insurance | $295,889 |
| All other expenses | $386,723 |
| Total functional expenses | $10,306,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $771,653 |
| Savings and temporary cash investments | $69,850 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $838,994 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,183 |
| Inventories for sale or use | $212,625 |
| Prepaid expenses and deferred charges | $324,585 |
| Net Land, buildings, and equipment | $12,089,233 |
| Investments—publicly traded securities | $1,233,361 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $351,682 |
| Total assets | $15,900,166 |
| Accounts payable and accrued expenses | $545,427 |
| Grants payable | $0 |
| Deferred revenue | $482,126 |
| 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 | $1,914 |
| Other liabilities | $147,893 |
| Total liabilities | $1,177,360 |
| Net assets without donor restrictions | $14,615,295 |
| Net assets with donor restrictions | $107,511 |
| 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 | $15,900,166 |