Maidstone Club Inc
- Assets
- $23.5m
- Revenue
- $11.7m
- Investments
- $0.0
- Employees
- 213
- Location
- East Hampton, NY
- Founding
- 06/1957
- Data as of
- 12/2020
- EIN
- 11-1036940
Organization Overview
Maidstone Club Inc is located in East Hampton, NY. The organization was established in 1957. 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 12/2020, Maidstone Club Inc employed 213 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maidstone 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 12/2020, Maidstone Club Inc generated $11.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $11.7m during the year ending 12/2020. While expenses have increased by 1.1% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A CLUB EXCLUSIVELY FOR PLEASURE AND RECREATIONAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth J Koch General Manager | Officer | 40 | $489,513 |
Ian Scollay Executive Chef | 40 | $300,692 | |
John Genovesi Superintendent | Officer | 50 | $279,112 |
Eden Foster Golf Pro | 25 | $270,423 | |
Stefan Laporte Tennis Pro | 20 | $207,797 | |
Jennifer Sauer Controller | 40 | $171,533 |
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 | $8,095,540 |
| Investment income | $17,098 |
| 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 | $2,846,975 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,706,236 |
| 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. | $840,819 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,289,594 |
| Pension plan accruals and contributions | $72,091 |
| Other employee benefits | $1,063,228 |
| Payroll taxes | $550,162 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $55,092 |
| Fees for services: Accounting | $33,837 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $514,763 |
| Advertising and promotion | $0 |
| Office expenses | $175,372 |
| Information technology | $47,028 |
| Royalties | $0 |
| Occupancy | $587,517 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,708 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,098,638 |
| Insurance | $331,580 |
| All other expenses | $35,990 |
| Total functional expenses | $11,740,360 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $153,095 |
| Savings and temporary cash investments | $1,300,208 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $599,279 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $777,854 |
| Prepaid expenses and deferred charges | $402,075 |
| Net Land, buildings, and equipment | $15,206,413 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,017,581 |
| Total assets | $23,456,505 |
| Accounts payable and accrued expenses | $139,978 |
| Grants payable | $0 |
| Deferred revenue | $30,000 |
| 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 | $469,650 |
| Other liabilities | $327,417 |
| Total liabilities | $967,045 |
| Net assets without donor restrictions | $22,489,460 |
| 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 | $23,456,505 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Union League Of Philadelphia Philadelphia, PA | $166,421,963 | $49,124,019 |
New York Athletic Club New York, NY | $79,824,386 | $36,957,466 |
University Club New York, NY | $61,571,312 | $30,883,399 |
Baltusrol Golf Club Springfield, NJ | $73,541,672 | $26,510,520 |
Country Club Chestnut Hill, MA | $75,043,157 | $30,549,304 |
Winged Foot Golf Club Inc Mamaroneck, NY | $47,661,307 | $23,506,154 |
New York Yacht Club New York, NY | $54,553,348 | $22,663,268 |
Canoe Brook Country Club Summit, NJ | $49,012,793 | $22,669,304 |
Glen Oaks Club Inc Old Westbury, NY | $13,779,705 | $20,068,781 |
Saucon Valley Country Club Bethlehem, PA | $67,852,931 | $24,203,066 |
Sleepy Hollow Country Club Westchester Scarborough, NY | $36,824,085 | $23,136,850 |
Wee Burn Country Club Inc Darien, CT | $32,519,463 | $16,725,850 |