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Nonprofiteer
← PALM BEACH COUNTRY CLUB

Form 990 for tax year 2022

Filed by PALM BEACH COUNTRY CLUB.

Totals

Total revenue
$12,481,463
Total expenses
$18,884,810
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$12,986,459
Investment income
-$2,191,882
Other revenue
$1,686,886
Total assets, end of year
$45,404,587
Total liabilities, end of year
$7,813,916
Net assets or fund balances, end of year
$37,590,671
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: MEMBERSHIP DUES

    total $11,910,384 · related or exempt $11,910,384

  • 2b · Program service revenue: TENNIS FEES

    total $298,863 · related or exempt $298,863

  • 2c · Program service revenue: GOLF LESSONS

    total $266,043 · related or exempt $266,043

  • 2d · Program service revenue: LOCKER RENTALS

    total $185,325 · related or exempt $185,325

  • 2e · Program service revenue: GREENS FEES

    total $168,629 · related or exempt $165,478 · unrelated business $3,151

  • 2f · All other program service revenue

    total $157,215 · related or exempt $157,215

  • 3 · Investment income

    total $404,834 · unrelated business $404,834

  • 7a · Gross sales of assets other than inventory

    other assets $214,850

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

    other assets $2,811,566

  • 7c · Gain or loss

    other assets -$2,596,716

  • 7d · Net gain or loss

    total -$2,596,716 · excluded -$2,596,716

  • 10a · Gross sales of inventory

    $3,277,508

  • 10b · Cost of goods sold

    $1,701,883

  • 10c · Net income from sales of inventory

    total $1,575,625 · related or exempt $1,572,280 · unrelated business $3,345

  • 11a · Other revenue: MISCELLANEOUS

    total $110,224 · related or exempt $110,224

  • 11b · Other revenue: TRUE SPEC COMMISSION

    total $1,037 · unrelated business $1,037

  • 11e · Other revenue, total

    $111,261

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $6,794,597

  • 9 · Other employee benefits

    total $1,805,645

  • 16 · Occupancy

    total $872,539

  • 22 · Depreciation, depletion and amortization

    total $2,399,315

  • 23 · Insurance

    total $385,953

  • 24a · Other expenses: GOLF COURSE MAINTENANCE

    total $1,517,619

  • 24b · Other expenses: CLUBHOUSE

    total $1,375,181

  • 24c · Other expenses: ADMINISTRATIVE & GENERA

    total $904,709

  • 24d · Other expenses: EXCESS HURRICANE INSURA

    total $764,753

  • 24e · All other expenses

    total $2,064,499

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,901,714 · end of year $2,451,047

  • 4 · Accounts receivable

    beginning of year $1,414,566 · end of year $1,463,017

  • 8 · Inventories for sale or use

    beginning of year $294,348 · end of year $378,198

  • 9 · Prepaid expenses and deferred charges

    beginning of year $909,395 · end of year $1,361,991

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

    $46,930,913

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

    $13,607,661

  • 10c · Land, buildings and equipment, net

    beginning of year $18,239,055 · end of year $33,323,252

  • 12 · Investments: other securities

    end of year $5,249,582

  • 15 · Other assets

    beginning of year $1,175,719 · end of year $1,177,500

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,311,026 · end of year $1,487,475

  • 19 · Deferred revenue

    beginning of year $0 · end of year $116,575

  • 25 · Other liabilities

    beginning of year $1,377,712 · end of year $6,209,866

  • 27 · Net assets without donor restrictions

    beginning of year $28,246,059 · end of year $37,590,671

Mission and programs · 2022

Mission

PALM BEACH COUNTRY CLUB IS A SOCIAL CLUB WHOSE EXPEMT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES.

Activities or mission (Part I)

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

  • FOOD AND BEVERAGE SALES TOTALED $2,588,490 FOR THE YEAR ENDING 06/30/2023, OF WHICH $5,631 WAS NON-MEMBER RELATED INCOME.

  • THE CLUB PROVIDES GOLF AND DINING FACILITIES TO APPROXIMATELY 380 MEMBERS.

As filed on the 2022 return.

Listed in Part VII

  • ROBERT SCHLAGER

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • RICHARD ROTHSCHILD

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JOHN WALLERSTEIN

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL ROME

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL MARGOLIS

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • DAVID BLUE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD BORNSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN FINE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TONY FROMER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JEFFREY B LANE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID S MACK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM MACK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR ROBIN SMITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT SNYDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VINCENT TESE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BENJAMIN WINTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RONALD PASSAGGIO

    GENERAL MANAGER

    Total calculated
    $533,394
    From this org
    $514,342
    From related orgs
    $0
    Other
    $19,052
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $423,935
    Bonus
    $80,845
    Other
    $9,562
    Deferred
    $0
    Nontaxable benefits
    $19,052
    Filer's total
    $533,394

  • RICHARD KELLEMS

    CHIEF FINANCIAL OFFICER

    Total calculated
    $510,622
    From this org
    $491,570
    From related orgs
    $0
    Other
    $19,052
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $356,232
    Bonus
    $123,500
    Other
    $11,838
    Deferred
    $0
    Nontaxable benefits
    $19,052
    Filer's total
    $510,622

  • GEORGE KERVERN

    GROUNDS SUPERINTENDENT

    Total calculated
    $381,202
    From this org
    $355,586
    From related orgs
    $0
    Other
    $25,616
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $301,586
    Bonus
    $45,000
    Other
    $9,000
    Deferred
    $0
    Nontaxable benefits
    $25,616
    Filer's total
    $381,202

  • EZEQUIEL LOPEZ

    EXECUTIVE CHEF

    Total calculated
    $332,782
    From this org
    $307,166
    From related orgs
    $0
    Other
    $25,616
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $278,169
    Bonus
    $17,500
    Other
    $11,497
    Deferred
    $0
    Nontaxable benefits
    $25,616
    Filer's total
    $332,782

  • ADILSON SILVA

    CLUBHOUSE MANAGER

    Total calculated
    $193,515
    From this org
    $174,463
    From related orgs
    $0
    Other
    $19,052
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $144,463
    Bonus
    $24,000
    Other
    $6,000
    Deferred
    $0
    Nontaxable benefits
    $19,052
    Filer's total
    $193,515

  • ZACHARY BRADY

    GOLF PROFESSIONAL

    Total calculated
    $238,054
    From this org
    $230,049
    From related orgs
    $0
    Other
    $8,005
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $202,180
    Bonus
    $22,000
    Other
    $5,869
    Deferred
    $0
    Nontaxable benefits
    $8,005
    Filer's total
    $238,054

  • JOHN BEDNAR IV

    GOLF PROFESSIONAL

    Total calculated
    $220,926
    From this org
    $213,701
    From related orgs
    $0
    Other
    $7,225
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $199,587
    Bonus
    $9,000
    Other
    $5,114
    Deferred
    $0
    Nontaxable benefits
    $7,225
    Filer's total
    $220,926

  • KIRBY KRAUTER

    HEAD TENNIS PROFESSIONAL

    Total calculated
    $339,691
    From this org
    $331,686
    From related orgs
    $0
    Other
    $8,005
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $328,686
    Bonus
    $3,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,005
    Filer's total
    $339,691

  • PAYTON MINEAR

    GOLF PROFESSIONAL

    Total calculated
    $174,580
    From this org
    $169,910
    From related orgs
    $0
    Other
    $4,670
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $143,330
    Bonus
    $13,000
    Other
    $13,580
    Deferred
    $0
    Nontaxable benefits
    $4,670
    Filer's total
    $174,580

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

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
THE CLUB PROVIDES A RESIDENCE ON SITE TO THE GENERAL MANAGER FOR SECURITY PURPOSES AND AS A CONDITION OF EMPLOYMENT. THIS IS NOT TAXABLE COMPENSATION TO THE GENERAL MANAGER.

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
2022
Filed
24 April 2024
IRS schema version
2022v5.0
Source object
202431159349300023

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