Panama Country Club Inc
- Assets
- $3.2m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 30
- Location
- Lynn Haven, FL
- Founding
- 02/1965
- Data as of
- 12/2021
- EIN
- 59-0604728
Organization Overview
Panama Country Club Inc is located in Lynn Haven, FL. The organization was established in 1965. As of 12/2021, Panama Country Club Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Panama 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 12/2021, Panama Country Club Inc generated $2.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.6%) 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 A GOLF AND SOCIAL CLUB FOR MEMBERS AND THEIR GUESTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION AND MAINTENANCE OF A GOLF COURSE FOR ITS MEMBERS.
OPERATION AND MAINTENANCE OF A RESTAURANT AND LOUNGE FOR ITS MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Drew Smith Vice Preside | Officer | $0 | |
Charlie Commander Treasurer | Officer | $0 | |
Robbie Cameron Secetary | Officer | $0 | |
John W Manuel President | Officer | $0 | |
Mike Brown Director | Trustee | $0 | |
Andrew Rowell Director | Trustee | $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 | $2,058,430 |
| Investment income | $793 |
| 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 | $2,059,223 |
| 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 | $494,613 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,707 |
| Payroll taxes | $47,517 |
| 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 | $942,123 |
| 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 | $107,773 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,498 |
| Insurance | $0 |
| All other expenses | $224,855 |
| Total functional expenses | $1,879,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,213 |
| Savings and temporary cash investments | $1,119,844 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $201,626 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $45,683 |
| Prepaid expenses and deferred charges | $326,459 |
| Net Land, buildings, and equipment | $1,512,692 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,239,517 |
| Accounts payable and accrued expenses | $345,413 |
| Grants payable | $0 |
| Deferred revenue | $1,339,665 |
| 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 | $2,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,157 |
| Total liabilities | $3,711,235 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $88,724 |
| Paid-in or capital surplus, or land, building, or equipment fund | $153,544 |
| Retained earnings, endowment, accumulated income, or other funds | -$713,986 |
| Total liabilities and net assets/fund balances | $3,239,517 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stonebridge Golf & Country Club Of Boca Raton Inc Boca Raton, FL | $21,289,718 | $9,527,773 |
Coosa Country Club Corp Rome, GA | $8,434,818 | $5,675,587 |
Panama Country Club Inc Lynn Haven, FL | $3,239,517 | $2,059,223 |
Country Club Headland, AL | $257,362 | $0 |
Universal Autograph Collectors Club Inc Mount Dora, FL | $10,647 | $8,024 |