Porters Neck Country Club Inc
- Assets
- $6.5m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 107
- Location
- Wilmington, NC
- Founding
- 08/2010
- Data as of
- 12/2019
- EIN
- 56-1750141
Organization Overview
Porters Neck Country Club Inc is located in Wilmington, NC. The organization was established in 2010. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2019, Porters Neck Country Club Inc employed 107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Porters Neck 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 12/2019, Porters Neck Country Club Inc generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (16.9%) each year. All expenses for the organization totaled $6.6m during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE SOCIAL INTERACTION AND RECREATION FOR THE BENEFIT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDES FACILITIES SUCH AS GOLF COURSE, TENNIS COURTS, POOL, FITNESS CENTER, AND DINING ROOMS TO ITS MEMBERS. APPROXIMATELY 510 MEMBERS WERE SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Tingle Former General Manager | Officer | 40 | $72,823 |
Dot Mazepa Treasurer | OfficerTrustee | 10 | $0 |
Dave Adams President | OfficerTrustee | 10 | $0 |
Pamela Foss Secretary | OfficerTrustee | 2 | $0 |
Jeremy Wilson Board Member | Trustee | 2 | $0 |
Ed Vogelsong Board Member | Trustee | 2 | $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 | $4,813,458 |
| Investment income | $5,888 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,654,738 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$105,423 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,779,533 |
| 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 | $2,126,750 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $127,827 |
| Payroll taxes | $156,008 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $371,348 |
| 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 | $122,519 |
| Advertising and promotion | $14,645 |
| Office expenses | $119,841 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $202,411 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $156,635 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $561,173 |
| Insurance | $161,446 |
| All other expenses | $284,079 |
| Total functional expenses | $6,554,352 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,392,092 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $897,606 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $96,119 |
| Prepaid expenses and deferred charges | $146,355 |
| Net Land, buildings, and equipment | $4,000,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,532,172 |
| Accounts payable and accrued expenses | $1,212,680 |
| Grants payable | $0 |
| Deferred revenue | $274,348 |
| 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 | $3,398,390 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $29,353 |
| Total liabilities | $4,914,771 |
| Net assets without donor restrictions | $1,617,401 |
| 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 | $6,532,172 |
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