Medford Lakes Country Club
- Assets
- $2.8m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Medford Lakes, NJ
- Founding
- 02/1959
- Data as of
- 03/2023
- EIN
- 21-0512300
Organization Overview
Medford Lakes Country Club is located in Medford Lakes, NJ. The organization was established in 1959. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medford Lakes Country Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 03/2023, Medford Lakes Country Club generated $3.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $2.5m during the year ending 03/2023. While expenses have increased by 4.4% per year over the past 7 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
PROVIDE CLUB MEMBERS WITH SPORT AND RECREATIONAL FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GREENS - PROVIDES AND MAINTAINS GOLF COURS FOR THE CLUB MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald Willer Director | Trustee | 1 | $0 |
Kevin Ross Director | Trustee | 0 | $0 |
Biran Summerville Director | Trustee | 1 | $0 |
Richard Barnett Director | Trustee | 1 | $0 |
James Fairbanks Director | Trustee | 1 | $0 |
Pattilynn Monaghan 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,586,418 |
| Investment income | $544 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,893 |
| 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 | $762,533 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,355,388 |
| 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 | $1,105,009 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,717 |
| Payroll taxes | $145,877 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,590 |
| 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 | $5,000 |
| Advertising and promotion | $873 |
| Office expenses | $56,480 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $115,681 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,865 |
| Interest | $92,745 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $154,883 |
| Insurance | $113,906 |
| All other expenses | $226,001 |
| Total functional expenses | $2,541,182 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $687,262 |
| Savings and temporary cash investments | $650,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $251,828 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $57,875 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,199,206 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,846,171 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $501,501 |
| 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 | $1,103,447 |
| Unsecured mortgages and notes payable | $499,022 |
| Other liabilities | $218,130 |
| Total liabilities | $2,322,100 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $3,100 |
| Paid-in or capital surplus, or land, building, or equipment fund | $490,720 |
| Retained earnings, endowment, accumulated income, or other funds | $30,251 |
| Total liabilities and net assets/fund balances | $2,846,171 |