The Falls Country Club Inc
- Assets
- $7.2m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 102
- Location
- Lake Worth, FL
- Founding
- Data as of
- 04/2015
- EIN
- 59-2537260
Organization Overview
The Falls Country Club Inc is located in Lake Worth, FL. As of 04/2015, Falls Country Club Inc employed 102 individuals. Falls Country Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
THE FALLS COUNTRY CLUB IS A SOCIAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB HAS AN 18-HOLE GOLF COURSE FOR MEMBERS AND THEIR GUESTS. TOTAL ROUNDS OF GOLF PLAYED DURING THE YEAR WAS APPROXIMATELY 9,510. OF THIS AMOUNT, 1,485 WERE GUEST/NON-MEMBERS.
THE CLUB OPERATES AND MAINTAINS A CLUBHOUSE FOR ITS MEMBERS. FOOD, BEVERAGE & MERCHANDISE SALES FOR THE YEAR TOTALED 753,808. OF THIS AMOUNT, 231,215 WAS GUEST/NON-MEMBER RELATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Stropp Jr General Mana | Officer | 40 | $158,398 |
Jay Raubvogel President | OfficerTrustee | 1 | $0 |
Ken Rosenberg Treasurer | OfficerTrustee | 1 | $0 |
Peter Grabler Vice Preside | OfficerTrustee | 1 | $0 |
Renee L Levy Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $11 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,455 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $484,251 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,293,071 |
| 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. | $276,683 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,701,745 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $241,060 |
| Payroll taxes | $227,663 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $291,566 |
| Fees for services: Accounting | $40,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,575 |
| Office expenses | $109,646 |
| Information technology | $15,745 |
| Royalties | $0 |
| Occupancy | $346,117 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $212,177 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $503,251 |
| Insurance | $202,703 |
| All other expenses | $0 |
| Total functional expenses | $5,207,871 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $199,054 |
| Savings and temporary cash investments | $2,893 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $467,616 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $154,641 |
| Prepaid expenses and deferred charges | $24,161 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $189,330 |
| Total assets | $7,167,490 |
| Accounts payable and accrued expenses | $477,416 |
| Grants payable | $0 |
| Deferred revenue | $296,910 |
| 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 | $4,369,017 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $206,023 |
| Total liabilities | $5,349,366 |
| Net assets without donor restrictions | $1,818,124 |
| 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 | $1,818,124 |
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