The Ledger

Financial analysis drawn from the filings themselves.

Every article is anchored to a verified figure from public IRS Form 990 data and cross-checked from a second, independent angle before publication. No estimates. No imputed values.

Published analyses

1 article
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The Pandemic-Era Surge
Revenue & membership demand post-2020
The Capital Engine
What the initiation line on the 990 actually measures
The Labor-Intensity Story
Why payroll is the single biggest expense line
The Shape of the Field
Why the median and the mean tell different stories
BLTS $29.2M ▲4.1
STLC $18.4M ▲8.1
ESSX $15.3M ▲11.2
TRDN $17.7M ▼1.4
MRON $17.0M ▲5.2
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before the board does.

Every new 990, every shift in the compensation bands, every notable year-over-year swing — compiled into one briefing each edition, for the people who actually run these clubs.

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“I read it before our finance committee meets.”
— GM, top-50 club

Privacy PolicyDisclaimerMethodology© 2026 Country Club Intel
BLTS $29.2M ▲4.1
STLC $18.4M ▲8.1
ESSX $15.3M ▲11.2
TRDN $17.7M ▼1.4
MRON $17.0M ▲5.2
live feed
The Quarterly · delivered free

Read the filings
before the board does.

Every new 990, every shift in the compensation bands, every notable year-over-year swing — compiled into one briefing each edition, for the people who actually run these clubs.

4,200+
GMs · controllers · board members
4×
a year · never more
Subscribe
Quarterly only · no spam · unsubscribe in one click

“I read it before our finance committee meets.”
— GM, top-50 club

Privacy PolicyDisclaimerMethodology© 2026 Country Club Intel
The Quarterly · free
The filings, the comp, the movers — four times a year.
Quarterly only · no spam · unsubscribe in one click