Lakewood Golf & Country Club
- Assets
- $1.4m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 47
- Location
- Tullahoma, TN
- Founding
- 12/1988
- Data as of
- 12/2021
- EIN
- 62-0541303
Organization Overview
Lakewood Golf & Country Club is located in Tullahoma, TN. The organization was established in 1988. As of 12/2021, Lakewood Golf & Country Club employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakewood Golf & 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, Lakewood Golf & Country Club generated $1.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 3.7% 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
SERVICES TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOLF COURSE, CLUB HOUSE & PRO SHOP
HOSPITALITY/RESTAURANT & BAR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bryan Hall Vice President | OfficerTrustee | 2 | $0 |
Tommy Dennis President | OfficerTrustee | 0 | $0 |
Mike Melton Treasurer | OfficerTrustee | 5 | $0 |
Betty Hand Secretary | Officer | 2 | $0 |
Trent Mcnabb Director | Trustee | 2 | $0 |
Clay Uselton Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $567,049 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $187,781 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $754,830 |
| Total Program Service Revenue | $352,074 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$33,643 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $272,953 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,346,214 |
| 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 | $513,105 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $47,543 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,324 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,133 |
| Office expenses | $4,358 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $89,829 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $48,035 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $100,685 |
| Insurance | $43,882 |
| All other expenses | $140,917 |
| Total functional expenses | $1,310,696 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,400 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $189,507 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,170 |
| Prepaid expenses and deferred charges | $36,711 |
| Net Land, buildings, and equipment | $1,078,453 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,389,241 |
| Accounts payable and accrued expenses | $151,080 |
| Grants payable | $0 |
| Deferred revenue | $4,953 |
| 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 | $1,016,858 |
| Unsecured mortgages and notes payable | $18,439 |
| Other liabilities | $0 |
| Total liabilities | $1,191,330 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $156,756 |
| Paid-in or capital surplus, or land, building, or equipment fund | $35,100 |
| Retained earnings, endowment, accumulated income, or other funds | $6,055 |
| Total liabilities and net assets/fund balances | $1,389,241 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Richland Country Club Nashville, TN | $44,301,310 | $11,132,145 |
Chapel Hill Country Club Inc Chapel Hill, NC | $14,564,200 | $9,647,234 |
Lake Hickory Country Club Inc Hickory, NC | $6,558,678 | $5,457,620 |
Coosa Country Club Corp Rome, GA | $8,434,818 | $5,675,587 |
Pine Bluff Country Club Inc Pine Bluff, AR | $2,200,386 | $1,766,077 |
Lakewood Golf & Country Club Tullahoma, TN | $1,389,241 | $1,346,214 |
Monticello Country Club Inc Monticello, AR | $397,290 | $769,110 |
Country Club Headland, AL | $257,362 | $0 |
Prescott Country Club Inc Hwy 67 N Prescott Ar 1/2 Mile Out Of City L Prescott, AR | $282,561 | $68,730 |
Bayou Bend Golf & Country Club Inc Sumner, MS | $138,054 | $81,591 |