Towers Country Club Inc
- Assets
- $5.4m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 79
- Location
- Floral Park, NY
- Founding
- 10/1996
- Data as of
- 02/2024
- EIN
- 13-2854903
Organization Overview
Towers Country Club Inc is located in Floral Park, NY. The organization was established in 1996. 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 02/2024, Towers Country Club Inc employed 79 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Towers 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 02/2024, Towers Country Club Inc generated $3.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $3.7m during the year ending 02/2024. 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
OPERATE A COUNTRY CLUB AND GOLF COURSE ON BEHALF OF NORTH SHORE TOWERS APARTMENTS, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TOWERS COUNTRY CLUB FEATURES AN 18-HOLE, 5,751-YARD, PAR-70 GOLF COURSE KNOWN FOR ITS ROLLING TERRAIN, TREE LINED FAIRWAYS, AND MANICURED GREENS. THE CLUB BOASTS A ROBUST SCHEDULE OF SOCIAL ACTIVITIES AND THE FRIENDLY COMPETITION OF TOURNAMENTS FOR MEMBERS AND THEIR GUESTS.
THE TOWERS COUNTRY CLUB FEATURES AN 18-HOLE, 5,751-YARD, PAR-70 GOLF COURSE KNOWN FOR ITS ROLLING TERRAIN, TREE LINED FAIRWAYS, AND MANICURED GREENS. THE CLUB BOASTS A ROBUST SCHEDULE OF SOCIAL ACTIVITIES AND THE FRIENDLY COMPETITION OF TOURNAMENTS FOR MEMBERS AND THEIR GUESTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Coco Xie Club Manager | 40 | $123,355 | |
Martin Schwartzman President | Trustee | 1 | $0 |
Stuart Berland Treasurer | Trustee | 1 | $0 |
Cheryl Vollweiler Secretary | Trustee | 1 | $0 |
Theresa Oropallo 1st Vice Pre | Trustee | 1 | $0 |
Ed Phelan Vice Preside | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aquatic Recreational Management Inc Pool Management | 2/28/24 | $336,090 |
Jt Masonry & Landscaping Inc Construction | 2/28/24 | $148,504 |
Rainbow Maintenance Cleaning | 2/28/24 | $100,855 |
Fairway Golf Car Corp New Golf Carts | 2/28/24 | $238,000 |
Robert Guido Pga Golf Pro | 2/28/24 | $131,737 |
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 | $3,360,170 |
| Investment income | $35,720 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,396,895 |
| 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 | $1,731,147 |
| Pension plan accruals and contributions | $12,073 |
| Other employee benefits | $17,916 |
| Payroll taxes | $78,810 |
| 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 | $4,847 |
| Advertising and promotion | $0 |
| Office expenses | $56,897 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $311,327 |
| 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 | $342,644 |
| Insurance | $133,200 |
| All other expenses | $74,966 |
| Total functional expenses | $3,723,034 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,044,153 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,344,598 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,388,751 |
| Accounts payable and accrued expenses | $125,599 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $125,599 |
| Net assets without donor restrictions | $5,263,152 |
| 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 | $5,388,751 |