Memphis Country Club
- Assets
- $17.9m
- Revenue
- $9.6m
- Investments
- $0.0
- Employees
- 239
- Location
- Memphis, TN
- Founding
- 07/1934
- Data as of
- 10/2020
- EIN
- 62-0291410
Organization Overview
Memphis Country Club is located in Memphis, TN. The organization was established in 1934. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 10/2020, Memphis Country Club employed 239 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis 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 10/2020, Memphis Country Club generated $9.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $9.2m during the year ending 10/2020. While expenses have increased by 0.1% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
SOCIAL AND RECREATIONAL CLUB PROVIDING ACTIVITIES TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTAURANT AND BAR SALES, SPORTS AND HEALTH ACTIVITIES WERE PROVIDED TO AN ESTIMATED 1,000 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael E Babb General Manager | Officer | 40 | $244,496 |
Jason Bradley Golf Course Superintendent | 40 | $143,393 | |
Andrew W Nichols Executive Chef | 40 | $133,223 | |
James R Van Frank Jr Controller/cfo | Officer | 40 | $131,222 |
Timothy A Rush Head Golf Professional | 40 | $111,659 | |
Benjamin W Barksdale Health Club Chair | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Timothy A Rush Golf Professional | 10/30/17 | $368,290 |
Timberline Tree & Lawn Care Course Maintenance | 10/30/17 | $110,770 |
Jackson Sand Course Maintenance | 10/30/17 | $105,779 |
Sanders Golf Course Consultant | 10/30/17 | $543,021 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,749,286 |
| Investment income | $28,267 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,164 |
| Net Gain/Loss on Asset Sales | $34,030 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,109,132 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,558,758 |
| 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. | $408,926 |
| Compensation to disqualified persons | $3,836,149 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $712,388 |
| Payroll taxes | $387,083 |
| 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 | $385,151 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $536,813 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $216,442 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,231,201 |
| Insurance | $199,815 |
| All other expenses | $0 |
| Total functional expenses | $9,217,367 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $512,493 |
| Savings and temporary cash investments | $456,734 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $583,005 |
| Loans from Officers, Directors, or Controlling Persons | $16,697 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $411,400 |
| Inventories for sale or use | $224,810 |
| Prepaid expenses and deferred charges | $45,288 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $391,004 |
| Total assets | $17,898,426 |
| Accounts payable and accrued expenses | $892,125 |
| Grants payable | $0 |
| Deferred revenue | $40,800 |
| 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 | $5,597,782 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $700,212 |
| Total liabilities | $7,230,919 |
| Net assets without donor restrictions | $0 |
| 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 | $10,667,507 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Myers Park Country Club Inc Charlotte, NC | $50,316,696 | $16,086,490 |
Bellehaven Country Club Inc Alexandria, VA | $40,402,944 | $17,085,559 |
Pi Beta Phi Fraternity Housing Corporation Town Country, MO | $77,087,429 | $19,221,332 |
North Ridge Country Club Inc Raleigh, NC | $21,783,792 | $13,220,578 |
George Walton Academy Inc Monroe, GA | $18,498,422 | $12,032,755 |
Willow Oaks Country Club Inc Richmond, VA | $15,889,652 | $10,037,529 |
Memphis Country Club Memphis, TN | $17,898,426 | $9,558,758 |
Eagle Point Golf Club Inc Wilmington, NC | $18,431,345 | $8,325,446 |
Wade Hampton Golf Club Inc Cashiers, NC | $23,418,026 | $9,280,278 |
Kinloch Golf Association Corp ManakinSabot, VA | $45,313,161 | $8,251,750 |
Old Town Club Inc Winstonsalem, NC | $12,827,032 | $8,211,808 |
Idle Hour Country Club Inc Lexington, KY | $13,827,877 | $6,560,806 |