Valley Lo Club Association Inc
- Assets
- $21.4m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 279
- Location
- Glenview, IL
- Founding
- 06/1985
- Data as of
- 03/2023
- EIN
- 36-3130502
Organization Overview
Valley Lo Club Association Inc is located in Glenview, IL. The organization was established in 1985. 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 03/2023, Valley Lo Club Association Inc employed 279 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Lo Club Association Inc 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, Valley Lo Club Association Inc generated $7.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $5.9m during the year ending 03/2023. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 8 years. 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE GOLF, SWIMMING, TENNIS, OTHER SPORT, RESTAURANT AND CLUBHOUSE FACILITIES FOR THE SOCIAL AND RECREATIONAL BENEFIT OF MEMBERS.
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Judith Higgins General Manager | 40 | $222,423 | |
Michael Marino Racquets Director | 40 | $197,108 | |
Edward Mihok Controller | 40 | $133,914 | |
Sam Miceli Asst. Gm | 40 | $103,711 | |
Dan Lenzen Golf Superintenden | 40 | $101,474 | |
Julie Traub 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 | $6,662,366 |
| Investment income | $48,940 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,765 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $284,364 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,989,905 |
| 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. | $469,717 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,822,824 |
| Pension plan accruals and contributions | $37,559 |
| Other employee benefits | $192,362 |
| Payroll taxes | $222,456 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,146 |
| Fees for services: Accounting | $17,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $95,245 |
| Advertising and promotion | $5,586 |
| Office expenses | $74,964 |
| Information technology | $60,208 |
| Royalties | $0 |
| Occupancy | $361,929 |
| Travel | $1,747 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,352 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $967,934 |
| Insurance | $112,440 |
| All other expenses | $302,072 |
| Total functional expenses | $5,914,809 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $592,194 |
| Savings and temporary cash investments | $3,542,477 |
| Pledges and grants receivable | $71,575 |
| Accounts receivable, net | $690,247 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $114,610 |
| Prepaid expenses and deferred charges | $163,072 |
| Net Land, buildings, and equipment | $16,030,595 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $197,555 |
| Total assets | $21,402,325 |
| Accounts payable and accrued expenses | $868,928 |
| Grants payable | $0 |
| Deferred revenue | $648,017 |
| 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 | $4,791,880 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $105,988 |
| Total liabilities | $6,414,813 |
| Net assets without donor restrictions | $14,987,512 |
| 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 | $21,402,325 |