Biltmore Forest Country Club Inc
- Assets
- $32.1m
- Revenue
- $9.0m
- Investments
- $0.0
- Employees
- 207
- Location
- Asheville, NC
- Founding
- 10/1934
- Data as of
- 12/2022
- EIN
- 56-0141970
Organization Overview
Biltmore Forest Country Club Inc is located in Asheville, NC. The organization was established in 1934. 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 12/2022, Biltmore Forest Country Club Inc employed 207 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Biltmore Forest Country 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 12/2022, Biltmore Forest Country Club Inc generated $9.0m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $9.7m during the year ending 12/2022. While expenses have increased by 6.6% per year over the past 5 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
BILTMORE FOREST COUNTRY CLUB IS A PRIVATE COUNTRY CLUB WHICH PROVIDES PROGRAMS AND FACILITIES TO SERVE THE GOLF, TENNIS, ATHLETIC, SOCIAL, AND OTHER LIFESTYLE DESIRES OF ITS MEMBER FAMILIES. THE WELL-MAINTAINED FACILITIES ARE AN INVITING SETTING FOR THE RECREATIONAL ACTIVITIES AND SOCIAL INTERACTION OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOLF PROGRAMS - PROVIDED GOLF COURSE FOR THE RECREATION OF MEMBERS AND THEIR GUESTS (22,995 ROUNDS PLAYED)
FOOD AND BEVERAGE PROGRAMS - PROVIDED RESTAURANT FACILITIES FOR A LA CARTE DINING AND BANQUETS FOR MEMBERS AND THEIR GUESTS (58,152 MEALS SERVED)
FITNESS PROGRAMS - PROVIDED FITNESS FACILITIES AND INSTRUCTION FOR MEMBERS AND THEIR GUESTS (12,544 FITNESS CENTER VISITS)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul W Warlick Jr President | OfficerTrustee | 1 | $0 |
Kenneth M Hughes Vice Pres/treasurer | OfficerTrustee | 1 | $0 |
Max O Cogburn Jr Secretary | OfficerTrustee | 1 | $0 |
Anthony Adams Governor | Trustee | 1 | $0 |
Garza Baldwin III Governor | Trustee | 1 | $0 |
Jennifer Bock Governor | 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 | $7,310,679 |
| Investment income | $19,091 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$14,213 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,613,889 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,984,422 |
| 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. | $566,363 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,858,950 |
| Pension plan accruals and contributions | $162,799 |
| Other employee benefits | $743,144 |
| Payroll taxes | $368,721 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,863 |
| Fees for services: Accounting | $23,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $163,743 |
| Advertising and promotion | $0 |
| Office expenses | $175,312 |
| Information technology | $135,429 |
| Royalties | $0 |
| Occupancy | $562,566 |
| Travel | $32,834 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,429 |
| Interest | $100,369 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,269,223 |
| Insurance | $135,765 |
| All other expenses | $0 |
| Total functional expenses | $9,658,595 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $908,646 |
| Savings and temporary cash investments | $1,978,309 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $708,875 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $235,442 |
| Inventories for sale or use | $121,250 |
| Prepaid expenses and deferred charges | $33,723 |
| Net Land, buildings, and equipment | $28,071,538 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,057,783 |
| Accounts payable and accrued expenses | $815,457 |
| 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 | $5,985,413 |
| Other liabilities | $499,679 |
| Total liabilities | $7,300,549 |
| Net assets without donor restrictions | $24,757,234 |
| 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 | $32,057,783 |