The Palmetto Club Of Columbia
- Assets
- $4.1m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 60
- Location
- Columbia, SC
- Founding
- 08/1962
- Data as of
- 06/2022
- EIN
- 57-0401707
Organization Overview
The Palmetto Club Of Columbia is located in Columbia, SC. The organization was established in 1962. 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 06/2022, Palmetto Club Of Columbia employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palmetto Club Of Columbia is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2022, Palmetto Club Of Columbia generated $2.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $2.4m during the year ending 06/2022. While expenses have increased by 1.3% per year over the past 8 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
THE PALMETTO CLUB OF COLUMBIA IS A PRIVATE CLUB FOR THE SOCIAL BENEFIT, RECREATION, PLEASURE, AND CULTURAL WELL-BEING OF ITS MEMBERS, THEIR FAMILIES, AND GUESTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A PRIVATE CLUB PROVIDING DINING AND BEVERAGE SALES TO ITS MEMBERS AND THEIR GUESTS.
OPERATION OF A PRIVATE CLUB PROVIDING DINING AND BEVERAGE SALES TO ITS MEMBERS AND THEIR GUESTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David R Campbell Chairman | Officer | 1 | $0 |
Charles Dibble Vice-Preside | Officer | 1 | $0 |
John F Mccabe Secretary | OfficerTrustee | 1 | $0 |
Mary Lane Sloan President | Officer | 1 | $0 |
Jesse A Smith Treasurer | Officer | 1 | $0 |
M John Bowen Jr Chairman Eme | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $2,439 |
| 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 | $981,769 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,743,366 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $1,151,439 |
| Pension plan accruals and contributions | $18,106 |
| Other employee benefits | $108,634 |
| Payroll taxes | $100,051 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $56,943 |
| Office expenses | $6,906 |
| Information technology | $28,585 |
| Royalties | $0 |
| Occupancy | $72,763 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $165,527 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $133,307 |
| Insurance | $39,889 |
| All other expenses | $0 |
| Total functional expenses | $2,440,793 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $429,407 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $234,462 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $73,319 |
| Prepaid expenses and deferred charges | $6,712 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,082 |
| Other assets | $0 |
| Total assets | $4,099,315 |
| Accounts payable and accrued expenses | $235,719 |
| Grants payable | $0 |
| Deferred revenue | $106,000 |
| 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 | $2,871,789 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,213,508 |
| Net assets without donor restrictions | $885,807 |
| 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 |
| Total liabilities and net assets/fund balances | $885,807 |