Royal Palm Yacht & Country Club
- Assets
- $46.3m
- Revenue
- $15.3m
- Investments
- $0.0
- Employees
- 259
- Location
- Boca Raton, FL
- Founding
- 10/1961
- Data as of
- 12/2021
- EIN
- 59-0873777
Organization Overview
Royal Palm Yacht & Country Club is located in Boca Raton, FL. The organization was established in 1961. 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 12/2021, Royal Palm Yacht & Country Club employed 259 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Royal Palm Yacht & Country 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, Royal Palm Yacht & Country Club generated $15.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $17.9m during the year ending 12/2021. While expenses have increased by 7.5% per year over the past 7 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
2021
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
THE CLUB MAINTAINS A 18 HOLE GOLF COURSE, PROVIDES TENNIS FACILITIES, SOCIAL ACTIVITIES, AS WELL AS DOCKAGE AND DINING FOR ITS MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rob Oosterhuis General Manager/coo | Officer | 50 | $375,003 |
Robert Anderson Golf Course Superindendent | 50 | $218,587 | |
Michael Shanley Membership Director | 50 | $201,225 | |
Jaime Picache CFO | Officer | 50 | $185,518 |
Joseph Diprima Executive Chef | 50 | $171,388 | |
Andrew Mcmechan Director Of Golf | 50 | $157,918 |
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 | $10,131,717 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$27,888 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,029,643 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,345,430 |
| 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 | $7,714,383 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,474,984 |
| 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 | $395,171 |
| 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 | $489,830 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,429,823 |
| Insurance | $594,688 |
| All other expenses | $2,292,508 |
| Total functional expenses | $17,935,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,308,208 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,813,081 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $517,243 |
| Prepaid expenses and deferred charges | $367,572 |
| Net Land, buildings, and equipment | $35,239,526 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,734 |
| Total assets | $46,256,364 |
| Accounts payable and accrued expenses | $1,229,842 |
| 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 | $8,549,458 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,107,729 |
| Total liabilities | $18,887,029 |
| Net assets without donor restrictions | $27,369,335 |
| 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 | $46,256,364 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Johns Island Club Inc Vero Beach, FL | $123,619,232 | $39,066,168 |
Cherokee Town & Country Club Inc Atlanta, GA | $70,405,206 | $43,703,981 |
St Andrews Country Club Inc Boca Raton, FL | $67,588,016 | $28,385,359 |
Capital City Club Inc Atlanta, GA | $84,524,331 | $33,363,422 |
Everglades Club Inc Palm Beach, FL | $55,459,603 | $24,732,349 |
Atlanta Athletic Club Johns Creek, GA | $48,939,283 | $29,765,696 |
Piedmont Driving Club Atlanta, GA | $77,050,064 | $28,104,317 |
Royal Poinciana Golf Club Inc Naples, FL | $61,264,527 | $17,332,259 |
Riviera Country Club Of Coral Gables Inc Coral Gables, FL | $63,238,082 | $21,710,203 |
Phi Mu Fraternity Peachtree City, GA | $13,751,042 | $22,181,589 |
Ansley Golf Club Atlanta, GA | $48,365,690 | $21,052,650 |
Royal Palm Yacht & Country Club Boca Raton, FL | $46,256,364 | $15,345,430 |