Venice Golf And Country Club No 1 Inc
- Assets
- $21.0m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 136
- Location
- Venice, FL
- Founding
- 08/1999
- Data as of
- 12/2022
- EIN
- 65-0223681
Organization Overview
Venice Golf And Country Club No 1 Inc is located in Venice, FL. The organization was established in 1999. 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 12/2022, Venice Golf And Country Club No 1 Inc employed 136 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Venice Golf And Country Club No 1 Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Venice Golf And Country Club No 1 Inc generated $6.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $8.3m during the year ending 12/2022. While expenses have increased by 5.9% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SOCIAL CLUB ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDES A CLUBHOUSE, RESTAURANT, LOUNGE, AND GOLFING FACILITIES FOR APPROXIMATELY 600 MEMBERS TO PROMOTE PERSONAL CONTACT AND COMINGLING AMONG MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Herbert Ormsbee President | OfficerTrustee | 2 | $0 |
Cyndy Gilchrest Vice President | OfficerTrustee | 2 | $0 |
Christine Madigan Secretary | OfficerTrustee | 2 | $0 |
Duncan Mackeen Treasurer | OfficerTrustee | 2 | $0 |
Joe Blattner Director | Trustee | 2 | $0 |
Andrea Campbell Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $628,338 |
| 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 | $628,338 |
| Total Program Service Revenue | $4,286,832 |
| Investment income | $2,949 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,475 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,453,543 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,431,756 |
| 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. | $436,480 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,684,963 |
| Pension plan accruals and contributions | $69,680 |
| Other employee benefits | $263,287 |
| Payroll taxes | $264,829 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $105,070 |
| Fees for services: Accounting | $17,938 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $250,795 |
| Advertising and promotion | $34,173 |
| Office expenses | $109,282 |
| Information technology | $78,582 |
| Royalties | $0 |
| Occupancy | $338,220 |
| Travel | $1,871 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,597 |
| Interest | $98,208 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,355,469 |
| Insurance | $182,392 |
| All other expenses | $199,395 |
| Total functional expenses | $8,349,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $141,295 |
| Savings and temporary cash investments | $933,002 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $747,936 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $626,814 |
| Inventories for sale or use | $268,477 |
| Prepaid expenses and deferred charges | $160,116 |
| Net Land, buildings, and equipment | $17,626,364 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $485,453 |
| Total assets | $20,989,457 |
| Accounts payable and accrued expenses | $872,503 |
| Grants payable | $0 |
| Deferred revenue | $1,750 |
| 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 | $883,439 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,762,952 |
| Total liabilities | $3,520,644 |
| Net assets without donor restrictions | $17,468,813 |
| 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 | $20,989,457 |