Knollwood Club
- Assets
- $22.4m
- Revenue
- $8.0m
- Investments
- $0.0
- Employees
- 227
- Location
- Lake Forest, IL
- Founding
- 12/1946
- Data as of
- 12/2021
- EIN
- 36-1332570
Organization Overview
Knollwood Club is located in Lake Forest, IL. The organization was established in 1946. 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 12/2021, Knollwood Club employed 227 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knollwood Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Knollwood Club generated $8.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $6.8m during the year ending 12/2021. 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
AN ORGANIZATION FORMED TO PROVIDE PROGRAMS AND FACILITIES FOR THE SOCIAL AND RECREATIONAL BENEFIT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE RESTAURANT AND CLUBHOUSE, GOLF, SWIMMING AND TENNIS FACILITIES AND PROGRAMS FOR THE SOCIAL AND RECREATIONAL BENEFIT OF ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Harper General Manager | 40 | $258,984 | |
Wade Gurysh Golf Professional | 40 | $223,831 | |
Drew Barnett Grounds Superintendent | 40 | $186,943 | |
Sarah Winston Controller | 40 | $134,172 | |
Daniel Vogel Exec. Chef | 40 | $128,745 | |
Timothy M Finnegan President | OfficerTrustee | 2 | $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 | $7,799,610 |
| Investment income | $9,185 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,834 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $159,933 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,973,562 |
| 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. | $755,492 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,821,400 |
| Pension plan accruals and contributions | $41,991 |
| Other employee benefits | $467,929 |
| Payroll taxes | $175,704 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,563 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $89,038 |
| Advertising and promotion | $0 |
| Office expenses | $59,192 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $418,738 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,258 |
| Interest | $149,118 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,338,236 |
| Insurance | $163,262 |
| All other expenses | $238,481 |
| Total functional expenses | $6,810,480 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,046 |
| Savings and temporary cash investments | $3,602,738 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,069,621 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $390,157 |
| Prepaid expenses and deferred charges | $380,698 |
| Net Land, buildings, and equipment | $15,848,487 |
| Investments—publicly traded securities | $91,630 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,392,377 |
| Accounts payable and accrued expenses | $914,969 |
| Grants payable | $0 |
| Deferred revenue | $1,309,924 |
| 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 | $3,679,661 |
| Other liabilities | $622,129 |
| Total liabilities | $6,526,683 |
| Net assets without donor restrictions | $15,865,694 |
| 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 | $22,392,377 |
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|---|---|---|
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Bellerive Country Club Saint Louis, MO | $30,118,733 | $15,442,843 |
Alpha Chi Omega National Housing Corporation Indianapolis, IN | $68,106,791 | $16,027,721 |
National Association Of Intercollegiate Athletics Kansas City, MO | $12,204,653 | $13,287,204 |
Big Spring Country Club Inc Louisville, KY | $27,849,226 | $12,028,840 |
Westmoreland Country Club Wilmette, IL | $31,536,434 | $12,960,463 |
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