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Nonprofiteer
← NANTUCKET GOLF CLUB INC

Form 990 for tax year 2023

Filed by NANTUCKET GOLF CLUB INC.

Totals

Total revenue
$10,365,902
Total expenses
$13,120,428
Contributions and grants received
$7,555,500
Grants paid
$0
Program service revenue
$1,023,930
Investment income
$555,898
Other revenue
$1,230,574
Total assets, end of year
$46,691,671
Total liabilities, end of year
$7,925,992
Net assets or fund balances, end of year
$38,765,679
Program services expenses (Part IX)
$9,189,166
Management and general expenses
$3,931,262
Fundraising expenses
$0
Program service expenses (Part III)
$9,189,166

Program services were 70.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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.

  • 1b · Membership dues

    $7,555,500

  • 2a · Program service revenue: GOLF AND CART INCOME

    total $448,465 · related or exempt $448,465

  • 2b · Program service revenue: COTTAGES INCOME

    total $509,350 · related or exempt $509,350

  • 2c · Program service revenue: LOCKER RENTAL

    total $57,600 · related or exempt $57,600

  • 2d · Program service revenue: OTHER INCOME

    total $8,515 · related or exempt $8,515

  • 3 · Investment income

    total $555,898 · related or exempt $555,898

  • 6a · Gross rents

    real property $49,959

  • 6c · Rental income or loss

    real property $49,959

  • 6d · Net rental income or loss

    total $49,959 · related or exempt $49,959

  • 10a · Gross sales of inventory

    $2,709,931

  • 10b · Cost of goods sold

    $1,529,316

  • 10c · Net income from sales of inventory

    total $1,180,615 · related or exempt $1,180,615

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,068,758 · management and general $1,068,758

  • 7 · Other salaries and wages

    total $4,671,526 · program services $4,359,673 · management and general $311,853

  • 8 · Pension plan contributions

    total $194,466 · program services $22,182 · management and general $172,284

  • 9 · Other employee benefits

    total $551,063 · program services $384,040 · management and general $167,023

  • 10 · Payroll taxes

    total $696,847 · program services $595,033 · management and general $101,814

  • 11b · Fees: legal

    total $17,149 · management and general $17,149

  • 11c · Fees: accounting

    total $59,732 · management and general $59,732

  • 16 · Occupancy

    total $1,051,056 · program services $162,787 · management and general $888,269

  • 17 · Travel

    total $127,965 · program services $12,989 · management and general $114,976

  • 19 · Conferences, conventions and meetings

    total $70,995 · program services $61,198 · management and general $9,797

  • 22 · Depreciation, depletion and amortization

    total $915,870 · program services $610,580 · management and general $305,290

  • 23 · Insurance

    total $344,998 · program services $35,283 · management and general $309,715

  • 24a · Other expenses: EQUIPMENT RENTAL & MAINT

    total $466,462 · program services $463,470 · management and general $2,992

  • 24b · Other expenses: SUPPLIES

    total $835,844 · program services $747,719 · management and general $88,125

  • 24c · Other expenses: EDUCATION & DUES

    total $29,769 · program services $13,058 · management and general $16,711

  • 24d · Other expenses: EMPLOYEE RELATIONS

    total $44,744 · program services $6,923 · management and general $37,821

  • 24e · All other expenses

    total $1,973,184 · program services $1,714,231 · management and general $258,953

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $449,352 · end of year $2,498,046

  • 2 · Savings and temporary cash investments

    beginning of year $2,435,455 · end of year $2,294,805

  • 4 · Accounts receivable

    beginning of year $123,197 · end of year $162,349

  • 8 · Inventories for sale or use

    beginning of year $703,093 · end of year $826,103

  • 9 · Prepaid expenses and deferred charges

    beginning of year $616,037 · end of year $686,460

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

    $76,102,184

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

    $38,509,027

  • 10c · Land, buildings and equipment, net

    beginning of year $35,639,240 · end of year $37,593,157

  • 15 · Other assets

    beginning of year $2,279,641 · end of year $2,630,751

  • 17 · Accounts payable and accrued expenses

    beginning of year $181,836 · end of year $903,509

  • 23 · Secured mortgages and notes payable

    beginning of year $4,117,579 · end of year $5,148,421

  • 24 · Unsecured notes and loans payable

    beginning of year $937,333

  • 25 · Other liabilities

    beginning of year $1,874,062 · end of year $1,874,062

  • 31 · Retained earnings, endowment or other funds

    beginning of year $35,135,205 · end of year $38,765,679

Mission and programs · 2023

Mission

PROVIDE GOLF, GOLF TOURNAMENTS AND SOCIAL CLUB FROM MAY TO OCTOBER FOR OVER 300 MEMBERS AND FAMILIES.

  • PROVIDED GOLF, GOLF TOURNAMENTS AND SOCIAL CLUB FROM MAY TO OCTOBER FOR OVER 300 MEMBERS AND THEIR FAMILIES.

    Expenses $9,189,166

As filed on the 2023 return.

Listed in Part VII

  • Thomas Bresette

    CLUB MANAGERTREASURER

    Total calculated
    $633,583
    From this org
    $564,199
    From related orgs
    $0
    Other
    $69,384
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $252,038
    Bonus
    $55,763
    Other
    $256,398
    Deferred
    $24,684
    Nontaxable benefits
    $44,700
    Filer's total
    $633,583

  • Mark Lucas

    GOLF COURSE MANAGER

    Total calculated
    $372,983
    From this org
    $309,838
    From related orgs
    $0
    Other
    $63,145
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $252,038
    Bonus
    not reported
    Other
    $57,800
    Deferred
    $20,323
    Nontaxable benefits
    $42,822
    Filer's total
    $372,983

  • Mike Demakos

    GOLF PROFESSIONAL

    Total calculated
    $367,035
    From this org
    $294,838
    From related orgs
    $0
    Other
    $72,197
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $252,038
    Bonus
    not reported
    Other
    $42,800
    Deferred
    $26,377
    Nontaxable benefits
    $45,820
    Filer's total
    $367,035

  • Rebecca Bartlett

    CONTROLLERASST CLERK

    Total calculated
    $256,575
    From this org
    $215,622
    From related orgs
    $0
    Other
    $40,953
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,769
    Bonus
    not reported
    Other
    $44,853
    Deferred
    $20,955
    Nontaxable benefits
    $19,998
    Filer's total
    $256,575

  • Kenneth J Marchetti

    ASSISTANT TREASURERCFO

    Total calculated
    $40,082
    From this org
    $40,082
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • John M Samuels

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Alastair Borthwick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Douglas D Grip

    DIRECTOR

    Total calculated
    $0
    Hours/week
    30

  • Edmund A Hajim

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Matthew F Hill

    FACILITIES MANAGER

    Total calculated
    $0
    Hours/week
    40

  • Steve Polowy

    EXECUTIVE CHEF

    Total calculated
    $0
    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

  • 1a · First-class or charter travel
  • 1a · Tax indemnification and gross-up payments
  • 1a · Housing allowance or residence for personal use
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423219349301902

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