Palos Verdes Golf Club Inc
- Assets
- $25.0m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 126
- Location
- Palos Verdes Estates, CA
- Founding
- 11/1960
- Data as of
- 12/2021
- EIN
- 95-1959280
Organization Overview
Palos Verdes Golf Club Inc is located in Palos Verdes Estates, CA. The organization was established in 1960. 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, Palos Verdes Golf Club Inc employed 126 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palos Verdes Golf 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 12/2021, Palos Verdes Golf Club Inc generated $10.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $7.5m during the year ending 12/2021. 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
PRIVATE GOLF AND COUNTRY CLUB. TO OPERATE AND MAINTAIN A GOLF CLUB FOR MEMBERS AND PUBLIC ENJOYMENT IN COMPLIANCE WITH CONCESSION AGREEMENT WITH THE CITY OF PALOS VERDES ESTATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICE ACTIVITIES ARE ORGANIZED AND OPERATED FOR THE PLEASURE, RECREATION, AND SOCIAL BENEFIT OF ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Conforti General Manager | 40 | $242,798 | |
James Gormley Dir. Of Golf | 40 | $185,057 | |
Garrett Yokoyama Executive Chef | 40 | $168,502 | |
Patrick Gradoville Dir. Of Grounds | 40 | $127,884 | |
Jacqueline Ferguson Controller | 40 | $126,690 | |
Nicholas Spurgeon Director Of F&b | 0 | $113,184 |
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 | $9,733,928 |
| Investment income | $16,452 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$623,068 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $831,405 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,958,717 |
| 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. | $242,798 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,794,089 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $389,164 |
| Payroll taxes | $188,209 |
| 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 | $0 |
| 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 | $1,143,306 |
| Insurance | $127,758 |
| All other expenses | $1,049,988 |
| Total functional expenses | $7,480,968 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,891,088 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $570,761 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $849,162 |
| Inventories for sale or use | $377,956 |
| Prepaid expenses and deferred charges | $179,871 |
| Net Land, buildings, and equipment | $15,594,774 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,527,432 |
| Total assets | $24,991,044 |
| Accounts payable and accrued expenses | $1,555,439 |
| Grants payable | $0 |
| Deferred revenue | $234,350 |
| 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 | $1,180,486 |
| Total liabilities | $2,970,275 |
| Net assets without donor restrictions | $18,154,421 |
| Net assets with donor restrictions | $3,866,348 |
| 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 | $24,991,044 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Palos Verdes Golf Club Inc has recieved totaling $300.
| Awarding Organization | Amount |
|---|---|
George And Reva Graziadio Foundation Redondo Beach, CA PURPOSE: DONATION FOR COLLEGE SCHOLARSHIP FUND | $300 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brentwood Country Club Los Angeles Los Angeles, CA | $23,132,093 | $17,679,018 |
Waialae Country Club Honolulu, HI | $40,629,667 | $20,651,940 |
Track Town Usa Inc Eugene, OR | $22,816,196 | $29,424,138 |
Eldorado Country Club Indian Wells, CA | $45,757,738 | $18,170,181 |
Paradise Valley Country Club Inc Paradise Valley, AZ | $41,632,521 | $18,336,957 |
Sharon Heights Golf & Country Club Menlo Park, CA | $51,835,070 | $19,221,394 |
Rolling Hills Country Club Rolling Hills Estates, CA | $71,103,768 | $16,906,847 |
Diablo Country Club Diablo, CA | $28,795,018 | $17,234,644 |
Ironwood Country Club Palm Desert, CA | $36,309,619 | $13,754,726 |
Los Altos Golf & Country Club Los Altos, CA | $30,864,685 | $15,701,239 |
Claremont Country Club Oakland, CA | $32,521,867 | $15,512,670 |
St Francis Yacht Club San Francisco, CA | $21,989,998 | $14,152,861 |