Timberhill Racquet Club Inc
- Assets
- $1.2m
- Revenue
- $712.3k
- Investments
- $0.0
- Employees
- 18
- Location
- Corvallis, OR
- Founding
- 05/1972
- Data as of
- 06/2022
- EIN
- 93-0603023
Organization Overview
Timberhill Racquet Club Inc is located in Corvallis, OR. The organization was established in 1972. 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 06/2022, Timberhill Racquet Club Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Timberhill Racquet Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2022, Timberhill Racquet Club Inc generated $712.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $660.6k during the year ending 06/2022. While expenses have increased by 3.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TIMBERHILL TENNIS CLUB IS A MEMBER-OWNED CLUB WHOSE MISSION IS TO PROVIDE OUR MEMBERS WITH A SUPERIOR TENNIS FACILITY AND TO MAINTAIN A WELCOMING AND FRIENDLY COMMUNITY FOR THE ENJOYMENT OF SOCIAL AND COMPETITIVE TENNIS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TIMBERHILL TENNIS CLUB IS A MEMBERS-OWNED CLUB WHOSE MISSION IS TO PROVIDE OUR MEMBERS WITH A SUPERIOR TENNIS FACILITY AND TO MAINTAIN A WELCOMING AND FRIENDLY COMMUNITY OF THE ENJOYMENT OF SOCIAL AND COMPETITIVE TENNIS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Henry Lee Treasurer | Officer | 4 | $0 |
Marsha Feldman Secretary | Officer | 3 | $0 |
Robert Lipscomb General Manager | Officer | 40 | $0 |
Victoria Wolff Vice President | Trustee | 4 | $0 |
Haizhong Wang Member At Large | Trustee | 3 | $0 |
Molly Megraw Member At Large | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $272,777 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $272,777 |
| Total Program Service Revenue | $439,460 |
| Investment income | $18 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $712,255 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,400 |
| 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. | $139,959 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $245,190 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,075 |
| Payroll taxes | $29,078 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,625 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,788 |
| Office expenses | $14,895 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $100,848 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $509 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,432 |
| Insurance | $13,890 |
| All other expenses | $0 |
| Total functional expenses | $660,646 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $133,549 |
| Savings and temporary cash investments | $160,570 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $45,750 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,053 |
| Prepaid expenses and deferred charges | $21,886 |
| Net Land, buildings, and equipment | $772,025 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $13,993 |
| Other assets | $0 |
| Total assets | $1,157,826 |
| Accounts payable and accrued expenses | $47,386 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $574,718 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $622,104 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $535,722 |
| Total liabilities and net assets/fund balances | $1,157,826 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Timberhill Racquet Club Inc has recieved totaling $4,000.
| Awarding Organization | Amount |
|---|---|
Usta-Pacific Northwest Section Beaverton, OR PURPOSE: PROVIDER GRANT - HIGH SCHOOL TENNIS GRANT ($500)/DESIGN YOUR OWN GRANT ($3,500) | $4,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Blackhawk Country Club Danville, CA | $46,780,436 | $25,821,111 |
Peninsula Golf & Country Club San Mateo, CA | $37,014,286 | $17,194,396 |
Tradition Golf Club La Quinta, CA | $47,453,667 | $16,366,705 |
Indian Ridge Country Club Inc Palm Desert, CA | $34,712,749 | $13,063,649 |
Orinda Country Club Orinda, CA | $26,304,081 | $14,413,689 |
Thunderbird Country Club A Corp Rancho Mirage, CA | $22,264,861 | $10,979,612 |
Club At Morningside Inc Rancho Mirage, CA | $15,858,818 | $9,401,139 |
The Reserve Club Indian Wells, CA | $31,458,734 | $9,455,163 |
Sand Point Country Club Inc Seattle, WA | $22,457,177 | $10,030,449 |
Montreux Golf & Country Club Inc Reno, NV | $29,596,657 | $7,133,879 |
California Golf Club Of San Francisco South San Francisco, CA | $19,297,686 | $9,754,605 |
Valley Club Inc Sun Valley, ID | $38,309,857 | $11,290,911 |