Secession Golf Club Inc
- Assets
- $22.4m
- Revenue
- $9.1m
- Investments
- $0.0
- Employees
- 155
- Location
- Beaufort, SC
- Founding
- 01/2008
- Data as of
- 06/2022
- EIN
- 26-0178692
Organization Overview
Secession Golf Club Inc is located in Beaufort, SC. The organization was established in 2008. According to its NTEE Classification (N20) the organization is classified as: Camps, under the broad grouping of Recreation & Sports and related organizations. As of 06/2022, Secession Golf Club Inc employed 155 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Secession Golf 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 06/2022, Secession Golf Club Inc generated $9.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $8.1m during the year ending 06/2022. While expenses have increased by 5.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SECESSION GOLF CLUB, INC., IS A NONPROFIT CORPORATION FOR THE PURPOSE OF OPERATING AS A NATIONAL GOLF CLUB, INCLUDING A GOLF COURSE, GOLF SHOP, CLUBHOUSE WITH OVERNIGHT ACCOMODATIONS, A RESTAURANT, AND A BAR FOR ITS APPROXIMATELY 750 MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOLF COURSE OPERATION, INCLUDING GOLF SHOP, GOLF TOURNAMENTS, AND CADDY SHACK
PRIMARILY MEMBER DUES AND OTHER INCOME.
RESTAURANT AND BAR
CLUBHOUSE AND ACCOMODATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew A Luckey Secretary | OfficerTrustee | 5 | $0 |
Grant Larlee Board Member | Trustee | 5 | $0 |
Drew Klepchick Board Member | Trustee | 5 | $0 |
Mark Solow President | OfficerTrustee | 20 | $36,106 |
Bob Loftus Board Member | Trustee | 5 | $0 |
Jack Purcell Board Member | Trustee | 5 | $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 | $7,984,467 |
| Investment income | $2,838 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $32,576 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $248,780 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,141,705 |
| 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. | $37,500 |
| Compensation of current officers, directors, key employees. | $7,875 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,433,085 |
| Pension plan accruals and contributions | $66,545 |
| Other employee benefits | $377,472 |
| Payroll taxes | $302,768 |
| 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 | $138,427 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $106,258 |
| Royalties | $0 |
| Occupancy | $195,104 |
| Travel | $35,784 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $36,826 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $894,386 |
| Insurance | $190,808 |
| All other expenses | $899,939 |
| Total functional expenses | $8,061,978 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $874,567 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,942,677 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $486,417 |
| Prepaid expenses and deferred charges | $89,268 |
| Net Land, buildings, and equipment | $10,791,872 |
| Investments—publicly traded securities | $1,970,789 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,242,117 |
| Total assets | $22,397,707 |
| Accounts payable and accrued expenses | $416,201 |
| Grants payable | $0 |
| Deferred revenue | $4,808,256 |
| 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 | $3,038,925 |
| Total liabilities | $8,263,382 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $5,816,808 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $8,317,517 |
| Total liabilities and net assets/fund balances | $22,397,707 |