Peakland Swim & Tennis Club Inc
- Assets
- $721.8k
- Revenue
- $368.6k
- Investments
- $0.0
- Employees
- 55
- Location
- Lynchburg, VA
- Founding
- 05/1967
- Data as of
- 12/2021
- EIN
- 54-0714610
Organization Overview
Peakland Swim & Tennis Club Inc is located in Lynchburg, VA. The organization was established in 1967. According to its NTEE Classification (N66) the organization is classified as: Racquet Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Peakland Swim & Tennis Club Inc employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peakland Swim & Tennis 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 12/2021, Peakland Swim & Tennis Club Inc generated $368.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $264.6k during the year ending 12/2021. While expenses have increased by 3.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FACILITY OPERATIONS- OPERATE AND MAINTAIN POOL, TENNIS COURTS, AND OTHER FACILITIES FOR THE BENEFIT OF MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FACILITY OPERATIONS- OPERATE AND MAINTAIN POOL, TENNIS COURTS, AND OTHER FACILITIES FOR THE BENEFIT OF 400 MEMBER FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tammy Jurgovan Secretary | OfficerTrustee | 0 | $0 |
Steve Ramey President | OfficerTrustee | 0 | $0 |
Sam Howe Vice President | OfficerTrustee | 0 | $0 |
Paul Carpenter Treasurer | OfficerTrustee | 0 | $0 |
Don Beck Financial Secretary | Officer | 0 | $0 |
Jennifer Mather Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $206,439 |
| 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 | $206,439 |
| Total Program Service Revenue | $70,654 |
| Investment income | $496 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $91,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $368,589 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $120,448 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,230 |
| 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 | $5,686 |
| Advertising and promotion | $4,050 |
| Office expenses | $710 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $18 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,610 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,872 |
| Insurance | $12,540 |
| All other expenses | $76,976 |
| Total functional expenses | $264,551 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,169 |
| Savings and temporary cash investments | $153,102 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $927 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $548,596 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $721,794 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $836 |
| Total liabilities | $836 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $100,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $200,300 |
| Retained earnings, endowment, accumulated income, or other funds | $420,658 |
| Total liabilities and net assets/fund balances | $721,794 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Junior Tennis Champions Center Inc College Park, MD | $5,286,334 | $7,001,782 |
Usta Mid-Atlantic Foundation Herndon, VA | $9,955,195 | $6,119,455 |
North Carolina Tennis Association Incorporated Greensboro, NC | $3,086,008 | $3,276,809 |
Chapel Hill Tennis Club Inc Carrboro, NC | $1,484,802 | $1,790,846 |
Tennessee Tennis Association Nashville, TN | $1,241,223 | $1,735,556 |
Brentwood Swim And Tennis Club Inc Brentwood, TN | $1,599,906 | $1,730,461 |
Tennis Memphis Inc Memphis, TN | $350,559 | $1,302,648 |
Chesterbrook Swimming And Tennis Club McLean, VA | $6,546,549 | $1,290,665 |
Kentucky Tennis Association Inc Louisville, KY | $961,107 | $1,035,395 |
Manker Patten Tennis Club Inc Chattanooga, TN | $2,476,761 | $957,597 |
Great Falls Swim And Tennis Club Inc Great Falls, VA | $1,432,573 | $847,197 |
Yonahlossee Racquet Club Inc Boone, NC | $855,205 | $589,388 |