Canoe Brook Country Club
- Assets
- $49.0m
- Revenue
- $22.7m
- Investments
- $0.0
- Employees
- 334
- Location
- Summit, NJ
- Founding
- 09/1935
- Data as of
- 03/2022
- EIN
- 22-0805690
Organization Overview
Canoe Brook Country Club is located in Summit, NJ. The organization was established in 1935. 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 03/2022, Canoe Brook Country Club employed 334 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Canoe Brook 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 03/2022, Canoe Brook Country Club generated $22.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $19.8m during the year ending 03/2022. While expenses have increased by 2.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FACILITIES TO PLAY GOLF AND A CLUBHOUSE WITH DINING FACILITIES FOR THE USE AND ENJOYMENT OF ITS MEMBERS, THEIR FAMILIES AND GUESTS.
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 |
|---|---|---|---|
Drew Broderick Director Of Racquets | 45 | $435,505 | |
Albert Costantini COO | Officer | 45 | $365,710 |
Cory Fischer Cfo/agm | 45 | $275,993 | |
Corey Heyer Executive Chef | 45 | $204,504 | |
Robert Schipper Director Of Grounds | Officer | 45 | $199,321 |
Jamie Cerino - Rizzo Director Of Membership | 45 | $153,998 |
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 | $14,923,891 |
| Investment income | $0 |
| 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 | $6,848,828 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,669,304 |
| 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. | $680,484 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,984,124 |
| Pension plan accruals and contributions | $64,457 |
| Other employee benefits | $986,181 |
| Payroll taxes | $1,097,213 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,117 |
| Fees for services: Accounting | $38,330 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $398,254 |
| Advertising and promotion | $0 |
| Office expenses | $929,767 |
| Information technology | $102,158 |
| Royalties | $0 |
| Occupancy | $1,289,494 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,769 |
| Interest | $331,946 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,637,746 |
| Insurance | $327,469 |
| All other expenses | $0 |
| Total functional expenses | $19,754,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,481,160 |
| Savings and temporary cash investments | $253,508 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,215,702 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $376,725 |
| Prepaid expenses and deferred charges | $513,010 |
| Net Land, buildings, and equipment | $35,172,688 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $49,012,793 |
| Accounts payable and accrued expenses | $2,800,040 |
| Grants payable | $0 |
| Deferred revenue | $7,575,378 |
| 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 | $9,439,938 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $922,805 |
| Total liabilities | $20,738,161 |
| Net assets without donor restrictions | $28,274,632 |
| 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 | $49,012,793 |
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 |
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 |
Piping Rock Club Locust Valley, NY | $31,334,038 | $17,059,500 |
Philadelphia Cricket Club Philadelphia, PA | $37,903,760 | $20,280,729 |