Mountain Lakes Club
- Assets
- $1.4m
- Revenue
- $631.2k
- Investments
- $0.0
- Employees
- 51
- Location
- Mountain Lakes, NJ
- Founding
- 05/1942
- Data as of
- 03/2021
- EIN
- 22-1131080
Organization Overview
Mountain Lakes Club is located in Mountain Lakes, NJ. The organization was established in 1942. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 03/2021, Mountain Lakes Club employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mountain Lakes Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 03/2021, Mountain Lakes Club generated $631.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $1.3m during the year ending 03/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PROGRAMS OF SOCIAL OPPORTUNITIES IN AN ATTRACTIVE AND SAFE ENVIRONMENT FOR THE ENJOYMENT OF MEMBERS AND THEIR GUEST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVITIES INCLUDE DINING, BAR AND PARTY SERVICES, POOL, TENNIS AND BOWLING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ken Mayo Vice President | OfficerTrustee | 0 | $0 |
Joe Scura President | OfficerTrustee | 0 | $0 |
Ian Thomas Treasurer | OfficerTrustee | 0 | $0 |
Karen Hunt Member At Large | OfficerTrustee | 0 | $0 |
Megan Duffy Secretary | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| 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 | $128,065 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $631,174 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $623,917 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $57,894 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,283 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $113,620 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $128,495 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $197,600 |
| Insurance | $46,645 |
| All other expenses | $0 |
| Total functional expenses | $1,303,047 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,628 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | -$11,495 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $25,327 |
| Prepaid expenses and deferred charges | $39,384 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,409,692 |
| Accounts payable and accrued expenses | $865,642 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $44,539 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,872,246 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $284,315 |
| Total liabilities | $4,022,203 |
| Net assets without donor restrictions | $0 |
| 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 | $346,224 |
| Total liabilities and net assets/fund balances | -$2,612,511 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mountain Lakes Club has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
Honda Foundation Honolulu, HI PURPOSE: EDUCATIONAL | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Old Westbury Golf & Country Club Inc Old Westbury, NY | $24,637,751 | $16,881,231 |
Hudson National Golf Club Inc Croton On Hudson, NY | $51,687,185 | $12,086,027 |
Lake Naomi Club Pocono Pines, PA | $31,181,948 | $14,377,164 |
Pine Valley Golf Club Pine Valley, NJ | $27,464,552 | $15,641,646 |
Plainfield Country Club Edison, NJ | $20,539,827 | $10,734,974 |
Glen Ridge Country Club Glen Ridge, NJ | $4,315,456 | $11,200,681 |
Overbrook Golf Club Bryn Mawr, PA | $25,446,093 | $10,373,823 |
Fisher Island Club Inc Fishers Island, NY | $26,382,427 | $9,842,592 |
North Jersey Country Club Inc Wayne, NJ | $12,240,984 | $10,758,532 |
Noyac Golf Club Inc Sag Harbor, NY | $25,263,669 | $11,022,614 |
Huntington Crescent Club Inc Huntington, NY | $18,101,805 | $9,571,803 |
Cedar Hill Golf & Country Club Inc Livingston, NJ | $9,265,709 | $8,374,790 |