TEDE501(c)(7) · MEDIUMNAICS 713910EIN 04-1895530
Tedesco Country Club
Marblehead, MA · founded 1934
13 filings on recordFY 2011–2023medium confidence
Compare to peers →FY23 Total Revenue
$9.13M
▲ 10.7% YoY
FY23 Total Expenses
$8.15M
▲ 9.9% YoY
Operating Margin
10.7%
revenue minus expenses ÷ revenue
Employees
0
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$9.1M
▲ 40.1% / 5y
Expenses
$8.2M
▲ 28.1% / 5y
Total Assets
$21.9M
▲ 17.5% / 5y
Total Liabilities
$6.2M
▼ 4.2% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $6.5M | $7.3M | $7.3M | $8.2M | $9.1M | +40.1% |
| Expenses | $6.4M | $6.6M | $6.6M | $7.4M | $8.2M | +28.1% |
| Net surplus | $153K | $772K | $772K | $829K | $978K | +537.7% |
| Total assets | $18.7M | $19.9M | $19.9M | $21.4M | $21.9M | +17.5% |
| Total liabilities | $6.5M | $6.0M | $6.0M | $6.7M | $6.2M | -4.2% |
| Net assets | $12.1M | $13.9M | $13.9M | $14.7M | $15.7M | +29.1% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
MICHAEL MCGILLICUDDY General Manager· 50h/wk | $340,941 | $38,110 |
RYAN TRAIN Head Golf Professional· 50h/wk | $166,463 | $24,805 |
PETER HASAK SUPER/GROUNDS· 50h/wk | $157,580 | $37,233 |
DAVID TOLLERUD Executive Chef· 50h/wk | $114,134 | — |
DAO VO FACILITIES· 50h/wk | $103,735 | $22,464 |
+ 9 unpaid officers/directors as reported (BRAD TUFTS, FRANK SWEENY, JAMES MCCATHERN, +6 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 | $4,365,649 |
| INITIATION FEES | $885,370 |
| CAPITAL ASSESSMENT | $727,718 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
$5.1M
▼ $384K paid down
Net land, buildings & equipment
$17.9M
book value, net of depreciation
Facility age
36%
accumulated depreciation ÷ cost — higher = older plant
Debt over time
Operating expenses
FY23 · Form 990, Part IX
| Insurance | $127,937 |
| Occupancy | $538,663 |
| Depreciation & depletion | $960,340 |
| Office expenses | $817,977 |
| Legal fees | $1,575 |
| Accounting fees | $25,550 |
| Other professional fees | $84,368 |
TFounded in 1934, Tedesco Country Club reported $9.13M of revenue for FY23, at an operating margin of 10.7%. Revenue moved up 10.7% 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
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