Piedmont Club
- Assets
- $9.6m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 96
- Location
- Spartanburg, SC
- Founding
- 01/1943
- Data as of
- 12/2021
- EIN
- 57-0226427
Organization Overview
Piedmont Club is located in Spartanburg, SC. The organization was established in 1943. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Piedmont Club employed 96 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Piedmont Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Piedmont Club generated $3.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $3.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 7 years. 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
TO PROVIDE FOR AND PROMOTE SOCIAL FELLOWSHIP FOR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE SOCIAL FELLOWSHIP, FURNISH A PLACE FOR MEETINGS AND AMUSEMENTS, AND PROVIDE MEALS AND REFRESHMENTS FOR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter M Grzan General Manager/coo | Officer | 45 | $149,001 |
Ronald M Fields Jr Secretary/treasurer | Officer | 2 | $10,500 |
J Grier Bomar President | OfficerTrustee | 1 | $0 |
David M Beacham Vice President | OfficerTrustee | 1 | $0 |
V C Bailey IV Director | Trustee | 1 | $0 |
T Alexander Evins Director | 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 | $3,605,343 |
| Investment income | $35,127 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,640,470 |
| 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. | $169,051 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $754,718 |
| Pension plan accruals and contributions | $24,076 |
| Other employee benefits | $232,893 |
| Payroll taxes | $115,846 |
| 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 | $49,158 |
| Advertising and promotion | $29,213 |
| Office expenses | $59,103 |
| Information technology | $24,131 |
| Royalties | $0 |
| Occupancy | $194,449 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,104 |
| Interest | $95,894 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $347,183 |
| Insurance | $23,346 |
| All other expenses | $97,204 |
| Total functional expenses | $3,070,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250 |
| Savings and temporary cash investments | $694,435 |
| Pledges and grants receivable | $118,695 |
| Accounts receivable, net | $352,122 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $96,771 |
| Prepaid expenses and deferred charges | $80,607 |
| Net Land, buildings, and equipment | $6,727,101 |
| Investments—publicly traded securities | $1,348,136 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $227,320 |
| Total assets | $9,645,437 |
| Accounts payable and accrued expenses | $332,030 |
| Grants payable | $0 |
| Deferred revenue | $9,092 |
| 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 | $2,741,518 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $100,041 |
| Total liabilities | $3,182,681 |
| Net assets without donor restrictions | $6,462,756 |
| 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 | $9,645,437 |
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|---|---|---|
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North Ridge Country Club Inc Raleigh, NC | $21,783,792 | $13,220,578 |
George Walton Academy Inc Monroe, GA | $18,498,422 | $12,032,755 |
Forest Lake Club Columbia, SC | $17,782,694 | $10,657,455 |
Eagle Point Golf Club Inc Wilmington, NC | $18,431,345 | $8,325,446 |
Dataw Island Club Inc Beaufort, SC | $27,067,751 | $8,525,272 |
Wade Hampton Golf Club Inc Cashiers, NC | $23,418,026 | $9,280,278 |
Old Town Club Inc Winstonsalem, NC | $12,827,032 | $8,211,808 |
Vor Club Corporation Charlotte, NC | $8,365,754 | $7,496,900 |
Standard Club Johns Creek, GA | $15,932,702 | $5,650,853 |
Old Chatham Golf Club Durham, NC | $20,568,212 | $7,510,404 |
Oldfield Club Okatie, SC | $11,156,902 | $7,833,609 |