KERN501(c)(7) · MEDIUMNAICS 713910EIN 04-1503740
Kernwood Country Club
Salem, MA · founded 1934
14 filings on recordFY 2011–2023medium confidence
Compare to peers →FY23 Total Revenue
$7.32M
▲ 23.4% YoY
FY23 Total Expenses
$7.47M
▲ 15.2% YoY
Operating Margin
-2.1%
revenue minus expenses ÷ revenue
Employees
158
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$7.3M
▲ 34.0% / 5y
Expenses
$7.5M
▲ 35.8% / 5y
Total Assets
$11.3M
▲ 19.3% / 5y
Total Liabilities
$3.7M
▲ 33.3% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $5.5M | $6.1M | $6.1M | $5.9M | $7.3M | +34.0% |
| Expenses | $5.5M | $5.3M | $5.3M | $6.5M | $7.5M | +35.8% |
| Net surplus | -$40K | $842K | $842K | -$553K | -$151K | +276.5% |
| Total assets | $9.5M | $11.7M | $11.7M | $10.5M | $11.3M | +19.3% |
| Total liabilities | $2.7M | $3.3M | $3.3M | $2.6M | $3.7M | +33.3% |
| Net assets | $6.7M | $8.4M | $8.4M | $7.8M | $7.7M | +13.7% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
STUART O'CONNOR GENERAL MANAGER/COO· 40h/wk | $280,000 | $9,101 |
JOHN EGGLESTON GOLF SUPERINTENDENT· 40h/wk | $173,500 | $24,743 |
FRANK DULLY II Head Golf Professional· 40h/wk | $163,054 | $27,444 |
STEVEN NEFF Assistant General Manager· 40h/wk | $143,524 | $10,326 |
+ 11 unpaid officers/directors as reported (B RIAN CUSACK, CATHERINE MARQUARDT, DENISE KELLY, +8 more)
Top contractors
FY23 · vendors paid $100k+ as reported
No contractors reported.
Revenue by activity
FY23 · dues, greens fees, dining, and other sources
| Line item | Amount |
|---|---|
| MEMBERSHIP DUES | $3,515,438 |
| SPECIAL ASSESSMENTS | $619,715 |
| OPERATING ASSESSMENT | $468,080 |
| ENTRANCE FEES | $460,250 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
$2.1M
▼ $282K paid down
Net land, buildings & equipment
$9.1M
book value, net of depreciation
Facility age
20%
accumulated depreciation ÷ cost — higher = older plant
Debt over time
Operating expenses
FY23 · Form 990, Part IX
| Insurance | $189,669 |
| Occupancy | $330,572 |
| Depreciation & depletion | $222,609 |
| Office expenses | $224,076 |
| Accounting fees | $31,958 |
| Other professional fees | $64,959 |
Retirement & benefit plans
DOL Form 5500 · plan sponsors
KERNWOOD COUNTRY CLUB EMPLOYEE 401(K) PLAN
pension · 17 participants · $1.9M assets · FY2024
Seasonal labor
DOL OFLC · certified H-2B positions
| Role | Wage floor (annualized) | Workers | Season |
|---|---|---|---|
Cooks, Restaurant Salem, MA | $44K | 5 | May 2025 → Oct 2025 |
Waiters and Waitresses Salem, MA | $42K | 12 | May 2025 → Oct 2025 |
Bartenders Salem, MA | $40K | 4 | May 2025 → Oct 2025 |
Amusement and Recreation Attendants Salem, MA | $34K | 2 | May 2025 → Oct 2025 |
KFounded in 1934, Kernwood Country Club reported $7.32M of revenue for FY23, at an operating margin of -2.1%. Revenue moved up 23.4% against the prior posted return. Every figure on this page is drawn from the club’s Form 990 as filed; a dash marks a value the filing did not report.
Source documents
The Quarterly · free
Get Kernwood Country Club’s next filing — the day it posts.
We read every 990 so you don't have to — new filings, compensation moves, and the figures worth knowing, four times a year.
Quarterly only · no spam
Free · quarterly · unsubscribe in one click
Similar clubs
matched on revenue, geography & business mix
Same revenue band
ROOYRoyal Oaks Country Club
Revenue $7.3M — near your $7.3M
$7.3Mcompare →
CCOOCoosa Country Club Corp
Revenue $7.3M — near your $7.3M
$7.3Mcompare →
KNOLKnollwood Country Club
Revenue $7.3M — near your $7.3M
$7.3Mcompare →
Same state · MA
SIALThe Salem Country Club Incorporated
MA club · $7.4M
$7.4Mcompare →
WHOOWoods Hole Golf Club
MA club · $7.5M
$7.5Mcompare →
FRAMFramingham Country Club
MA club · $7.1M
$7.1Mcompare →
Similar revenue mix
DDAKDakota Dunes Country Club
100% similar revenue mix
$6.2Mcompare →
SHANSankaty Head Golf Club Inc
100% similar revenue mix
$9.0Mcompare →
SATSSt Andrews Golf Club
100% similar revenue mix
$7.6Mcompare →
Similar payroll intensity
YUMAYuma Golf & Country Club
Payroll intensity 49.7% · near your 49.7%
$2.3Mcompare →
BHELBelmont Hills Country Club
Payroll intensity 49.7% · near your 49.7%
$1.4Mcompare →
GREEGreeley Country Club
Payroll intensity 49.7% · near your 49.7%
$4.2Mcompare →