IANN501(c)(7) · MEDIUMNAICS 713910EIN 06-0400660
Innis Arden Golf Club Inc
Old Greenwich, CT · founded 1972
14 filings on recordFY 2010–2023medium confidence
Compare to peers →FY23 Total Revenue
$14.19M
▲ 7.8% YoY
FY23 Total Expenses
$14.77M
▲ 23.6% YoY
Operating Margin
-4.1%
revenue minus expenses ÷ revenue
Employees
274
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$14.2M
▲ 3.7% / 5y
Expenses
$14.8M
▲ 32.4% / 5y
Total Assets
$55.5M
▲ 96.0% / 5y
Total Liabilities
$22.8M
▲ 4341.3% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $13.7M | $14.9M | $14.9M | $13.2M | $14.2M | +3.7% |
| Expenses | $11.1M | $12.4M | $12.4M | $11.9M | $14.8M | +32.4% |
| Net surplus | $2.5M | $2.5M | $2.5M | $1.2M | -$580K | -122.9% |
| Total assets | $28.3M | $34.0M | $34.0M | $46.0M | $55.5M | +96.0% |
| Total liabilities | $513K | $1.7M | $1.7M | $12.6M | $22.8M | +4341.3% |
| Net assets | $27.8M | $32.3M | $32.3M | $33.4M | $32.7M | +17.6% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
CORY HUBBARD Director of Racquets· 40h/wk | $721,914 | $19,681 |
BONNIE MACZUBA General Manager· 40h/wk | $352,796 | $28,706 |
KEVIN SULLIVAN Executive Chef· 40h/wk | $307,565 | $34,828 |
GARRETT MURPHY FORMER HEAD GOLF PRO· 40h/wk | $274,408 | — |
NEIL LAUFENBERG Golf Course Superintendent· 40h/wk | $238,738 | $82,560 |
MARGARET PISANI Controller· 40h/wk | $194,920 | $14,989 |
DAN HEMME Head Golf Professional· 40h/wk | $165,863 | $7,556 |
+ 13 unpaid officers/directors as reported (ALLEN MERRILL, BRIAN WATSON, CHRISTINE LEE, +10 more)
Top contractors
FY23 · vendors paid $100k+ as reported
| Vendor | Service | Paid |
|---|---|---|
| Scanga Woodworking Corp COLD SPRING, NY | Construction & renovation | $1,839,782 |
| Centerline Interior Inc MILFORD, CT | Construction & renovation | $1,471,066 |
| Turner Construction Co SHELTON, CT | Construction & renovation | $1,214,581 |
| White Contractors OLD GREENWICH, CT | Construction & renovation | $1,207,694 |
| L&R Plumbing & Heating LLC BRISTOL, CT | Construction & renovation | $1,078,378 |
Revenue by activity
FY23 · dues, greens fees, dining, and other sources
| Line item | Amount |
|---|---|
| MEMBERSHIP DUES | $6,342,477 |
| CAPITAL ASSESSMENTS | $2,413,102 |
| INITIATION FEES | $627,097 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
$20.0M
▲ $11.0M new borrowing
Net land, buildings & equipment
$52.1M
book value, net of depreciation
Facility age
35%
accumulated depreciation ÷ cost — higher = older plant
Debt over time
Operating expenses
FY23 · Form 990, Part IX
| Insurance | $214,409 |
| Occupancy | $899,770 |
| Depreciation & depletion | $2,752,220 |
| Office expenses | $722,714 |
| Legal fees | $13,934 |
| Accounting fees | $28,200 |
| Other professional fees | $1,245 |
Retirement & benefit plans
DOL Form 5500 · plan sponsors
INNIS ARDEN GOLF CLUB 401(K) PLAN
pension · 66 participants · $4.5M assets · FY2024
IFounded in 1972, Innis Arden Golf Club Inc reported $14.19M of revenue for FY23, at an operating margin of -4.1%. Revenue moved up 7.8% 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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