FARM501(c)(7) · MEDIUMNAICS 713910EIN 06-0759939
Farms Country Club Inc
Wallingford, CT · founded 1964
12 filings on recordFY 2011–2022medium confidence
Compare to peers →FY22 Total Revenue
$5.32M
▲ 16.8% YoY
FY22 Total Expenses
$4.44M
▲ 5.2% YoY
Operating Margin
16.6%
revenue minus expenses ÷ revenue
Employees
176
headcount as reported on filing
The Five-Year Picture
FY2018 — FY2022 · as filed
Revenue
$5.3M
▲ 40.2% / 5y
Expenses
$4.4M
▲ 17.0% / 5y
Total Assets
$7.0M
▲ 26.9% / 5y
Total Liabilities
$3.1M
▲ 4.2% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY18 | FY19 | FY20 | FY21 | FY22 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $3.8M | $3.8M | $3.9M | $4.6M | $5.3M | +40.2% |
| Expenses | $3.8M | $3.8M | $3.7M | $4.2M | $4.4M | +17.0% |
| Net surplus | $3K | -$24K | $176K | $335K | $883K | +28759.6% |
| Total assets | $5.5M | $5.7M | $5.8M | $6.4M | $7.0M | +26.9% |
| Total liabilities | $3.0M | $3.3M | $3.3M | $3.4M | $3.1M | +4.2% |
| Net assets | $2.5M | $2.4M | $2.5M | $3.0M | $3.9M | +54.3% |
Officer & staff compensation
FY22 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
JIM HANLON Head Golf Professional· 50h/wk | $272,451 | $16,124 |
RICHARD FLANDREAU General Manager· 50h/wk | $149,360 | $11,185 |
VICTOR FACONTI Golf Course Superintendent· 50h/wk | $120,003 | $23,784 |
THOMAS LEONARD Executive Chef· 50h/wk | $108,097 | $12,456 |
+ 12 unpaid officers/directors as reported (ASHLEE VILLECCO, BOB BATESON, CHRIS GARLOCK, +9 more)
Top contractors
FY22 · vendors paid $100k+ as reported
| Vendor | Service | Paid |
|---|---|---|
| Ct Custom Aquatics NORTH HAVEN, CT | — | $254,386 |
Revenue by activity
FY22 · dues, greens fees, dining, and other sources
| Line item | Amount |
|---|---|
| MEMBERSHIP DUES | $2,168,338 |
| CAPITAL ASSESSMENT | $764,911 |
| ASSESSMENT | $185,462 |
| INITIATION FEES | $87,187 |
Balance sheet & capital
FY22 · IRS Form 990, Part X
Mortgages & notes payable
$2.8M
▼ $103K paid down
Net land, buildings & equipment
$4.7M
book value, net of depreciation
Facility age
61%
accumulated depreciation ÷ cost — higher = older plant
Operating expenses
FY22 · Form 990, Part IX
| Insurance | $163,043 |
| Occupancy | $259,159 |
| Depreciation & depletion | $269,632 |
| Office expenses | $151,881 |
| Other professional fees | $191,931 |
Retirement & benefit plans
DOL Form 5500 · plan sponsors
THE FARMS COUNTRY CLUB, INC. 401(K) PLAN
pension · 63 participants · $661K assets · FY2024
FFounded in 1964, Farms Country Club Inc reported $5.32M of revenue for FY22, at an operating margin of 16.6%. Revenue moved up 16.8% 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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