Panama Country Club Inc
- Assets
- $1.5m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 87
- Location
- Lynn Haven, FL
- Founding
- 02/1965
- Data as of
- 12/2022
- EIN
- 59-0604728
Organization Overview
Panama Country Club Inc is located in Lynn Haven, FL. The organization was established in 1965. As of 12/2022, Panama Country Club Inc employed 87 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 12/2022, Panama Country Club Inc 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 3.0% each year. All expenses for the organization totaled $2.6m during the year ending 12/2022. While expenses have increased by 2.9% 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
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Hancock President | Officer | $0 | |
Mike Walsingham Vice Preside | Officer | $0 | |
Joey Ginn Treasurer | Officer | $0 | |
Tony Petitti Secretary | Officer | $0 | |
Larry Arnold Board Direct | Trustee | $0 | |
Rob Maddox Board Direct | 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 | $2,669,740 |
| Investment income | $3,436 |
| 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 | $2,673,176 |
| 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 | $805,811 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,917 |
| Payroll taxes | $79,357 |
| 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 | $1,463,038 |
| 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 | $122,591 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,490 |
| Insurance | $0 |
| All other expenses | $109,541 |
| Total functional expenses | $2,640,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,505 |
| Savings and temporary cash investments | $415,790 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $235,905 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $65,843 |
| Prepaid expenses and deferred charges | $180,014 |
| Net Land, buildings, and equipment | $561,407 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,477,464 |
| Accounts payable and accrued expenses | $105,840 |
| Grants payable | $0 |
| Deferred revenue | $9,705 |
| 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 | $1,700,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $155,681 |
| Total liabilities | $1,971,226 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $381,943 |
| Paid-in or capital surplus, or land, building, or equipment fund | $149,277 |
| Retained earnings, endowment, accumulated income, or other funds | -$1,024,982 |
| Total liabilities and net assets/fund balances | $1,477,464 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stonebridge Golf & Country Club Of Boca Raton Inc Boca Raton, FL | $26,180,400 | $12,003,985 |
Coosa Country Club Corp Rome, GA | $13,174,494 | $7,318,444 |
Panama Country Club Inc Lynn Haven, FL | $1,477,464 | $2,673,176 |
Country Club Headland, AL | $404,384 | $222,519 |
Universal Autograph Collectors Club Inc Mount Dora, FL | $10,647 | $8,024 |