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Nonprofiteer
← LAKE MERCED GOLF & COUNTRY CLUB

Form 990 for tax year 2024

Filed by LAKE MERCED GOLF & COUNTRY CLUB.

Totals

Total revenue
$14,703,318
Total expenses
$13,956,877
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$12,635,561
Investment income
$90,529
Other revenue
$1,977,228
Total assets, end of year
$30,677,080
Total liabilities, end of year
$15,395,824
Net assets or fund balances, end of year
$15,281,256
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 $7,007,358 · related or exempt $7,007,358

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

    total $2,173,425 · related or exempt $2,173,425

  • 2c · Program service revenue: CAPITAL DUES

    total $1,673,709 · related or exempt $1,673,709

  • 2d · Program service revenue: GOLF OPERATION

    total $1,281,069 · related or exempt $668,294 · unrelated business $612,775

  • 2e · Program service revenue: CLUBHOUSE RENOVATION

    total $500,000 · related or exempt $500,000

  • 3 · Investment income

    total $113,197 · related or exempt $36,006 · unrelated business $77,191

  • 7a · Gross sales of assets other than inventory

    other assets $8,011

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

    other assets $30,679

  • 7c · Gain or loss

    other assets -$22,668

  • 7d · Net gain or loss

    total -$22,668 · excluded -$22,668

  • 10a · Gross sales of inventory

    $3,251,742

  • 10b · Cost of goods sold

    $1,409,572

  • 10c · Net income from sales of inventory

    total $1,842,170 · related or exempt $1,073,380 · unrelated business $768,790

  • 11a · Other revenue: OTHER INCOME

    total $135,058 · related or exempt $135,058

  • 11e · Other revenue, total

    $135,058

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $508,486

  • 7 · Other salaries and wages

    total $5,399,166

  • 9 · Other employee benefits

    total $1,425,183

  • 10 · Payroll taxes

    total $439,528

  • 16 · Occupancy

    total $232,752

  • 20 · Interest

    total $514,542

  • 22 · Depreciation, depletion and amortization

    total $2,046,545

  • 23 · Insurance

    total $98,382

  • 24a · Other expenses: INCOME TAXES

    total $12,014

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

    total $712,163

  • 24c · Other expenses: GOLF COURSE

    total $442,803

  • 24d · Other expenses: PAYMENT TO RESIGNED MEM

    total $435,000

  • 24e · All other expenses

    total $1,690,313

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $716,574 · end of year $290,211

  • 2 · Savings and temporary cash investments

    beginning of year $989,826 · end of year $801,851

  • 4 · Accounts receivable

    beginning of year $1,308,297 · end of year $1,684,395

  • 7 · Other notes and loans receivable

    beginning of year $1,589,536 · end of year $1,222,569

  • 8 · Inventories for sale or use

    beginning of year $283,438 · end of year $295,378

  • 9 · Prepaid expenses and deferred charges

    beginning of year $234,401 · end of year $157,510

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

    $40,190,277

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

    $14,722,126

  • 10c · Land, buildings and equipment, net

    beginning of year $26,189,144 · end of year $25,468,151

  • 15 · Other assets

    beginning of year $656,204 · end of year $757,015

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,307,249 · end of year $807,064

  • 19 · Deferred revenue

    beginning of year $962,006 · end of year $1,109,535

  • 24 · Unsecured notes and loans payable

    beginning of year $14,491,522 · end of year $12,105,284

  • 25 · Other liabilities

    beginning of year $671,828 · end of year $1,373,941

  • 27 · Net assets without donor restrictions

    beginning of year $14,534,815 · end of year $15,281,256

Mission and programs · 2024

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 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jeffrey Yee

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Kevin Baldwin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jared Potter

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Clifford Lai

    CFO

    Total calculated
    $0
    Hours/week
    1

  • Wilson Leung

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Kip Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Campion

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul Leung

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Adam Staley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nick Bailey

    GENERAL MANAGER

    Total calculated
    $508,486
    From this org
    $465,362
    From related orgs
    $0
    Other
    $43,124
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $316,662
    Bonus
    $125,700
    Other
    $23,000
    Deferred
    $18,679
    Nontaxable benefits
    $24,445
    Filer's total
    $508,486

  • Matthew Dachowski

    GOLF COURSE SUPERINTENDENT

    Total calculated
    $396,236
    From this org
    $363,857
    From related orgs
    $0
    Other
    $32,379
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $302,107
    Bonus
    $32,750
    Other
    $29,000
    Deferred
    $12,622
    Nontaxable benefits
    $19,757
    Filer's total
    $396,236

  • Patrick Steffes

    HEAD GOLF PROFESSIONAL

    Total calculated
    $305,676
    From this org
    $288,449
    From related orgs
    $0
    Other
    $17,227
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $236,107
    Bonus
    $38,000
    Other
    $14,342
    Deferred
    $14,342
    Nontaxable benefits
    $2,885
    Filer's total
    $305,676

  • Robert Mazer

    FOOD AND BEVERAGE MANAGER

    Total calculated
    $172,576
    From this org
    $156,268
    From related orgs
    $0
    Other
    $16,308
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,760
    Bonus
    $22,750
    Other
    $8,758
    Deferred
    $7,881
    Nontaxable benefits
    $8,427
    Filer's total
    $172,576

  • Brian Paul

    MEMBERSHIP DIRECTOR

    Total calculated
    $150,792
    From this org
    $143,796
    From related orgs
    $0
    Other
    $6,996
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $98,046
    Bonus
    $22,750
    Other
    $23,000
    Deferred
    $6,741
    Nontaxable benefits
    $255
    Filer's total
    $150,792

  • Kimberly Wilcox

    CONTROLLER

    Total calculated
    $148,517
    From this org
    $138,681
    From related orgs
    $0
    Other
    $9,836
    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
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202503169349308710

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