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Nonprofiteer
← LAKE MERCED GOLF & COUNTRY CLUB

Form 990 for tax year 2023

Filed by LAKE MERCED GOLF & COUNTRY CLUB.

Totals

Total revenue
$15,411,757
Total expenses
$13,998,309
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$13,440,601
Investment income
-$13,542
Other revenue
$1,984,698
Total assets, end of year
$31,967,420
Total liabilities, end of year
$17,432,605
Net assets or fund balances, end of year
$14,534,815
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: MEMBER DUES & ASSESSMENTS

    total $6,439,042 · related or exempt $6,439,042

  • 2b · Program service revenue: CAPITAL DUES

    total $2,635,034 · related or exempt $2,635,034

  • 2c · Program service revenue: INITIATION AND TRANSFER FEES

    total $2,623,000 · related or exempt $2,623,000

  • 2d · Program service revenue: GOLF OPERATION

    total $1,118,525 · related or exempt $667,410 · unrelated business $451,115

  • 2e · Program service revenue: CLUBHOUSE RENOVATION

    total $625,000 · related or exempt $625,000

  • 3 · Investment income

    total $118,419 · related or exempt $50,238 · unrelated business $68,181

  • 7b · Less cost or other basis and sales expenses

    other assets $131,961

  • 7c · Gain or loss

    other assets -$131,961

  • 7d · Net gain or loss

    total -$131,961 · excluded -$131,961

  • 10a · Gross sales of inventory

    $3,151,359

  • 10b · Cost of goods sold

    $1,316,413

  • 10c · Net income from sales of inventory

    total $1,834,946 · related or exempt $1,061,715 · unrelated business $773,231

  • 11a · Other revenue: OTHER INCOME

    total $149,752 · related or exempt $149,752

  • 11e · Other revenue, total

    $149,752

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $406,656

  • 7 · Other salaries and wages

    total $5,147,969

  • 9 · Other employee benefits

    total $1,357,961

  • 10 · Payroll taxes

    total $432,379

  • 16 · Occupancy

    total $180,803

  • 20 · Interest

    total $552,948

  • 22 · Depreciation, depletion and amortization

    total $1,932,332

  • 23 · Insurance

    total $89,289

  • 24a · Other expenses: INCOME TAXES

    total $15,327

  • 24b · Other expenses: PAYMENT TO RESIGNED MEM

    total $1,299,000

  • 24c · Other expenses: GOLF COURSE

    total $565,331

  • 24d · Other expenses: GOLF CART LEASE AND SPE

    total $449,762

  • 24e · All other expenses

    total $1,568,552

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $821,581 · end of year $716,574

  • 2 · Savings and temporary cash investments

    beginning of year $250,003 · end of year $989,826

  • 4 · Accounts receivable

    beginning of year $1,515,833 · end of year $1,308,297

  • 7 · Other notes and loans receivable

    beginning of year $2,034,965 · end of year $1,589,536

  • 8 · Inventories for sale or use

    beginning of year $291,891 · end of year $283,438

  • 9 · Prepaid expenses and deferred charges

    beginning of year $550,158 · end of year $234,401

  • 10a · Land, buildings and equipment: cost or other basis

    $38,962,775

  • 10b · Land, buildings and equipment: accumulated depreciation

    $12,773,631

  • 10c · Land, buildings and equipment, net

    beginning of year $26,112,973 · end of year $26,189,144

  • 15 · Other assets

    beginning of year $663,093 · end of year $656,204

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,017,025 · end of year $1,307,249

  • 19 · Deferred revenue

    beginning of year $1,002,011 · end of year $962,006

  • 24 · Unsecured notes and loans payable

    beginning of year $16,253,799 · end of year $14,491,522

  • 25 · Other liabilities

    beginning of year $846,295 · end of year $671,828

  • 27 · Net assets without donor restrictions

    beginning of year $13,121,367 · end of year $14,534,815

Mission and programs · 2023

Mission

THE ORGANIZATION IS AN EXEMPT SOCIAL CLUB UNDER IRC SECTION 501(C)(7) WHOSE PROGRAM SERVICE ACTIVITIES ARE ORGANIZED & OPERATED SUBSTANTIALLY FOR THE PLEASURE & RECREATION OF ITS MEMBERS. ALL PROGRAMS OF THE CLUB ARE RELATED TO THE PURPOSE OF PROVIDING SOCIAL & RECREATIONAL BENEFITS TO ITS MEMBERS.

Activities or mission (Part I)

TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION.

  • SOCIAL AND RECREATIONAL PROGRAMS. SEE ORGANIZATION'S MISSION STATEMENT.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jeffrey Yee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kevin Baldwin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Ruffo

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jared Potter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bill Mazzetti

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Clifford Lai

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Wilson Leung

    CFO

    Total calculated
    $0
    Hours/week
    1

  • Kip Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Campion

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nick Bailey

    GENERAL MANAGER

    Total calculated
    $406,656
    From this org
    $382,459
    From related orgs
    $0
    Other
    $24,197
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $278,259
    Bonus
    $81,700
    Other
    $22,500
    Deferred
    $14,317
    Nontaxable benefits
    $9,880
    Filer's total
    $406,656

  • Matthew Dachowski

    GOLF COURSE SUPERINTENDENT

    Total calculated
    $302,040
    From this org
    $286,893
    From related orgs
    $0
    Other
    $15,147
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $236,093
    Bonus
    $21,800
    Other
    $29,000
    Deferred
    $14,073
    Nontaxable benefits
    $1,074
    Filer's total
    $302,040

  • Patrick Steffes

    HEAD GOLF PROFESSIONAL

    Total calculated
    $274,552
    From this org
    $261,478
    From related orgs
    $0
    Other
    $13,074
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $216,604
    Bonus
    $31,800
    Other
    $13,074
    Deferred
    $13,074
    Nontaxable benefits
    $0
    Filer's total
    $274,552

  • Joshua Pokorney

    EXECUTIVE CHEF

    Total calculated
    $157,910
    From this org
    $150,514
    From related orgs
    $0
    Other
    $7,396
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,558
    Bonus
    $19,300
    Other
    $10,656
    Deferred
    $7,396
    Nontaxable benefits
    $0
    Filer's total
    $157,910

  • Kimberly Wilcox

    CONTROLLER

    Total calculated
    $169,272
    From this org
    $166,334
    From related orgs
    $0
    Other
    $2,938
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,696
    Bonus
    $6,700
    Other
    $2,938
    Deferred
    $2,938
    Nontaxable benefits
    $0
    Filer's total
    $169,272

  • Robert Mazer

    FOOD AND BEVERAGE MANAGER

    Total calculated
    $146,264
    From this org
    $138,110
    From related orgs
    $0
    Other
    $8,154
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202403209349303130

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