Lexington Golf & Country Club
- Assets
- $2.1m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, VA
- Founding
- 05/1985
- Data as of
- 12/2023
- EIN
- 54-1193752
Organization Overview
Lexington Golf & Country Club is located in Lexington, VA. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lexington Golf & Country Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Lexington Golf & Country Club generated $2.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $2.0m during the year ending 12/2023. While expenses have increased by 3.4% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE A GOLF, SWIMMING, DINING, TENNIS, & SOCIAL CLUB FOR MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A GOLF, SWIMMING, DINING, TENNIS, AND SOCIAL CLUB FOR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neal Lineberry President | OfficerTrustee | 2 | $0 |
Thomas Gill Vice Preside | OfficerTrustee | 2 | $0 |
Scott Shank Treasurer | OfficerTrustee | 2 | $0 |
Jack Bovay Director | Trustee | 1 | $0 |
Bobby Hobbs Director | Trustee | 1 | $0 |
Tammy Shomo Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $804,820 |
| 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 | $804,820 |
| Total Program Service Revenue | $1,159,724 |
| Investment income | $165 |
| 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 | $316,850 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,289,208 |
| 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 | $791,956 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,966 |
| Payroll taxes | $70,697 |
| Fees for services: Management | $93,432 |
| Fees for services: Legal | $663 |
| 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 | $11,607 |
| Advertising and promotion | $8,830 |
| Office expenses | $2,006 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $130,484 |
| Travel | $28,482 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $61,287 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $146,798 |
| Insurance | $37,346 |
| All other expenses | $386,190 |
| Total functional expenses | $2,039,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $269,969 |
| Savings and temporary cash investments | $71,969 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $215,646 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $60,979 |
| Prepaid expenses and deferred charges | $4,507 |
| Net Land, buildings, and equipment | $1,504,213 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,613 |
| Other assets | $9,319 |
| Total assets | $2,139,215 |
| Accounts payable and accrued expenses | $346,567 |
| Grants payable | $0 |
| Deferred revenue | $281,467 |
| 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 | $935,655 |
| Unsecured mortgages and notes payable | $384,289 |
| Other liabilities | $0 |
| Total liabilities | $1,947,978 |
| Net assets without donor restrictions | $191,237 |
| 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 | $2,139,215 |