Lake Hickory Country Club Inc
- Assets
- $6.6m
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 218
- Location
- Hickory, NC
- Founding
- 12/1950
- Data as of
- 08/2022
- EIN
- 56-0486013
Organization Overview
Lake Hickory Country Club Inc is located in Hickory, NC. The organization was established in 1950. As of 08/2022, Lake Hickory Country Club Inc employed 218 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Hickory 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 08/2022, Lake Hickory Country Club Inc generated $5.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $5.3m during the year ending 08/2022. While expenses have increased by 1.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MEANS AND FACILITIES FOR ENTERTAINMENT, RECREATION, AND REFRESHMENT OF ITS MEMBERS, CREATE OPPORTUNITIES FOR SOCIAL INTERACTION FOR MEMBERS, THEIR GUESTS AND FAMILIES. ACTIVITIES INCLUDE GOLF, TENNIS, SWIMMING AND DINING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE RECREATIONAL, SOCIAL AND LEISURE FACILITIES AND ACTIVITIES TO MEMBERS, THEIR FAMILIES AND THEIR GUESTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Garnett Director Of Tennis | Officer | 40 | $178,023 |
Kenneth Church General Manager | Officer | 40 | $145,357 |
Brian Reppart Director Of Golf And Cs Op | Officer | 40 | $94,613 |
Jeff Clemmons Golf Course Maintenace Sup | Officer | 40 | $71,675 |
Karen Conner Controller | Officer | 40 | $70,958 |
Rachel Nichols President | OfficerTrustee | 0.5 | $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 | $313,415 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $313,415 |
| Total Program Service Revenue | $3,651,797 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $32,297 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,430,684 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,457,620 |
| 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. | $653,357 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,044,935 |
| Pension plan accruals and contributions | $20,250 |
| Other employee benefits | $0 |
| Payroll taxes | $235,514 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,619 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $34,126 |
| Office expenses | $18,407 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,863 |
| Interest | $115,412 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $272,854 |
| Insurance | $291,222 |
| All other expenses | $565,849 |
| Total functional expenses | $5,279,512 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,111,739 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $613,009 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $271,985 |
| Prepaid expenses and deferred charges | $54,681 |
| Net Land, buildings, and equipment | $3,507,264 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,558,678 |
| Accounts payable and accrued expenses | $563,949 |
| 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 | $3,949,416 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $250,389 |
| Total liabilities | $4,763,754 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $411,100 |
| Paid-in or capital surplus, or land, building, or equipment fund | $4,549,945 |
| Retained earnings, endowment, accumulated income, or other funds | -$3,166,121 |
| Total liabilities and net assets/fund balances | $6,558,678 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Richland Country Club Nashville, TN | $44,301,310 | $11,132,145 |
Chapel Hill Country Club Inc Chapel Hill, NC | $14,564,200 | $9,647,234 |
Country Club Of Spartanburg Spartanburg, SC | $7,741,207 | $5,826,670 |
Lake Hickory Country Club Inc Hickory, NC | $6,558,678 | $5,457,620 |
Coosa Country Club Corp Rome, GA | $8,434,818 | $5,675,587 |
Lakewood Golf & Country Club Tullahoma, TN | $1,389,241 | $1,346,214 |
Prestwood Country Club Hartsville, SC | $235,305 | $252,340 |