Gulf Stream Golf Club
- Assets
- $39.9m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 104
- Location
- Gulfstream, FL
- Founding
- 07/1925
- Data as of
- 05/2023
- EIN
- 59-0277270
Organization Overview
Gulf Stream Golf Club is located in Gulfstream, FL. The organization was established in 1925. 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 05/2023, Gulf Stream Golf Club employed 104 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gulf Stream Golf Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 05/2023, Gulf Stream Golf Club generated $6.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $7.7m during the year ending 05/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GULF STREAM GOLF CLUB HAS AN 18 HOLE GOLF COURSE. ALL GOLF ROUNDS ARE MEMBER RELATED.
THE CLUB ALSO MAINTAINS AND OPERATES A DINING FACILITY FOR MEMBERS. TOTAL FOOD AND BEVERAGE REVENUE FOR THE YEAR WAS $1,097,573 OF WHICH $22,185 WAS NON-MEMBER RELATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert N Clay President | OfficerTrustee | 1 | $0 |
Michael Bell Vice President | OfficerTrustee | 1 | $0 |
Paul A Lyons Treasurer | OfficerTrustee | 1 | $0 |
John M Cornish Secretary | OfficerTrustee | 1 | $0 |
Dewitt Alexandre Director | Trustee | 1 | $0 |
Thomas G Cigarran 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 | $6,755,266 |
| Investment income | $118,861 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$858,558 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $648,559 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,792,204 |
| 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 | $3,540,375 |
| Pension plan accruals and contributions | $102,392 |
| Other employee benefits | $916,026 |
| Payroll taxes | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $686,278 |
| All other expenses | $579,007 |
| Total functional expenses | $7,650,762 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,039,620 |
| Savings and temporary cash investments | $2,111,242 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $154,667 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $55,693 |
| Prepaid expenses and deferred charges | $98,566 |
| Net Land, buildings, and equipment | $35,460,419 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,784 |
| Total assets | $39,946,991 |
| Accounts payable and accrued expenses | $606,259 |
| 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 | $0 |
| Other liabilities | $3,834,064 |
| Total liabilities | $4,440,323 |
| Net assets without donor restrictions | $35,506,668 |
| 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 | $39,946,991 |