Lake Merced Golf & Country Club
- Assets
- $32.2m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 171
- Location
- Daly City, CA
- Founding
- 01/1945
- Data as of
- 12/2022
- EIN
- 94-0615130
Organization Overview
Lake Merced Golf & Country Club is located in Daly City, CA. The organization was established in 1945. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Lake Merced Golf & Country Club employed 171 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Merced 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 12/2022, Lake Merced Golf & Country Club generated $9.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $12.6m during the year ending 12/2022. While expenses have increased by 8.8% 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
TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOCIAL AND RECREATIONAL PROGRAMS. SEE ORGANIZATION'S MISSION STATEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Yee Director | Trustee | 1 | $0 |
Kevin Baldwin Director | Trustee | 1 | $0 |
John Ruffo Vice President | OfficerTrustee | 1 | $0 |
Jared Potter Director | Trustee | 1 | $0 |
Bill Mazzetti Secretary | OfficerTrustee | 1 | $0 |
Clifford Lai President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $9,228,104 |
| Investment income | $48,552 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$637,891 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $979,514 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,676,216 |
| 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. | $341,177 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,311,012 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,137,708 |
| Payroll taxes | $351,462 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $160,955 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,098,597 |
| Insurance | $222,258 |
| All other expenses | $1,228,045 |
| Total functional expenses | $12,554,475 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $821,581 |
| Savings and temporary cash investments | $250,003 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,515,833 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,034,965 |
| Inventories for sale or use | $291,891 |
| Prepaid expenses and deferred charges | $550,158 |
| Net Land, buildings, and equipment | $26,112,973 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $663,093 |
| Total assets | $32,240,497 |
| Accounts payable and accrued expenses | $1,017,025 |
| Grants payable | $0 |
| Deferred revenue | $1,002,011 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $16,253,799 |
| Other liabilities | $846,295 |
| Total liabilities | $19,119,130 |
| Net assets without donor restrictions | $13,121,367 |
| 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 | $32,240,497 |