Walpole Country Club Inc
- Assets
- $7.6m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 128
- Location
- Walpole, MA
- Founding
- 10/1942
- Data as of
- 10/2023
- EIN
- 04-1943035
Organization Overview
Walpole Country Club Inc is located in Walpole, MA. The organization was established in 1942. 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 10/2023, Walpole Country Club Inc employed 128 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Walpole Country 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 10/2023, Walpole Country Club Inc generated $4.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $4.2m during the year ending 10/2023. While expenses have increased by 3.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE A PRIVATE COUNTRY CLUB OFFERING GOLF, FOOD AND BEVERAGE FACILITIES TO MEMBERS AND THEIR GUESTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOLF - TO PROVIDE MEMBERS WITH STATE-OF-THE-ART GOLFING FACILITIES.
BEVERAGE AND RESTAURANT OPERATION - TO PROVIDE MEMBERS AND THEIR GUESTS WITH AN OPPORTUNITY FOR DINING AND SOCIALIZING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Sweeney President | OfficerTrustee | 10 | $7,480 |
Tom Gover Vice President | OfficerTrustee | 3 | $0 |
Thomas Alighieri Treasurer/secretary | OfficerTrustee | 10 | $5,236 |
Julie Corcoran Director | Trustee | 3 | $0 |
Marc Difiore Director | Trustee | 3 | $0 |
John Guaspari Director | Trustee | 3 | $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 | $5,138,609 |
| Investment income | $50 |
| 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 | -$632,094 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,506,565 |
| 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. | $149,208 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,517,484 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $218,805 |
| Payroll taxes | $162,119 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,700 |
| Advertising and promotion | $383 |
| Office expenses | $8,663 |
| Information technology | $89,907 |
| Royalties | $0 |
| Occupancy | $323,033 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,729 |
| Interest | $130,312 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $502,310 |
| Insurance | $86,538 |
| All other expenses | $325,544 |
| Total functional expenses | $4,150,701 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $243,979 |
| Savings and temporary cash investments | $29,879 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $306,685 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $72,455 |
| Prepaid expenses and deferred charges | $20,083 |
| Net Land, buildings, and equipment | $6,838,035 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $121,554 |
| Total assets | $7,632,670 |
| Accounts payable and accrued expenses | $535,111 |
| 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 | $2,745,877 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $649,847 |
| Total liabilities | $3,930,835 |
| Net assets without donor restrictions | $3,701,835 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $7,632,670 |