Lago Mar Membership Association Inc Lago Mar County Club
- Assets
- $4.4m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 75
- Location
- Plantation, FL
- Founding
- 10/1981
- Data as of
- 10/2019
- EIN
- 59-2032069
Organization Overview
Lago Mar Membership Association Inc Lago Mar County Club, operating under the name Lago Mar Country Club, is located in Plantation, FL. The organization was established in 1981. 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 10/2019, Lago Mar Country Club employed 75 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lago Mar 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 10/2019, Lago Mar Country Club generated $4.7m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $5.1m during the year ending 10/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
MEMBER RECREATION / SOCIALIZING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION PROVIDED APPROXIMATELY 33,000 ROUNDS OF GOLF, PLUS FOOD, BEVERAGES AND FACILITIES FOR SWIMMING AND TENNIS TO ITS MEMBERS DURING THE YEAR ENDED 10/31/2019
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Boylan President,di | OfficerTrustee | $0 | |
Thomas Pelegrin Treasurer | OfficerTrustee | $0 | |
Timothy Slack Secretary | OfficerTrustee | $0 | |
Richard Thomas Woulfe VP | OfficerTrustee | $0 | |
John Diulus Director | Trustee | $0 | |
Judith Anne Hasenauer Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $292 |
| 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 | $75,770 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,687,947 |
| 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 | $1,767,314 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $425,894 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,662 |
| Fees for services: Accounting | $15,065 |
| 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 | $102,029 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $192,725 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,094,533 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $367,100 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $836,042 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $140,217 |
| Prepaid expenses and deferred charges | $53,140 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,442,418 |
| Accounts payable and accrued expenses | $311,757 |
| Grants payable | $0 |
| Deferred revenue | $1,005,220 |
| 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 | $1,478,769 |
| Unsecured mortgages and notes payable | $200,000 |
| Other liabilities | $225,596 |
| Total liabilities | $3,221,342 |
| Net assets without donor restrictions | $1,221,076 |
| 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 | $1,221,076 |
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|---|---|---|
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