LFAK501(c)(7) · MEDIUMNAICS 713910EIN 20-0283427
Lake Forest Country Club Inc
Louisville, KY · founded 2004
13 filings on recordFY 2011–2023medium confidence
Compare to peers →FY23 Total Revenue
$5.03M
▲ 5.4% YoY
FY23 Total Expenses
$5.30M
▲ 8.7% YoY
Operating Margin
-5.3%
revenue minus expenses ÷ revenue
Employees
175
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$5.0M
no prior year
Expenses
$5.3M
▲ 2156.2% / 5y
Total Assets
$10.8M
▲ 67.5% / 5y
Total Liabilities
$6.3M
▲ 244.0% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $0 | $4.0M | $4.0M | $4.8M | $5.0M | — |
| Expenses | $235K | $4.0M | $4.0M | $4.9M | $5.3M | +2156.2% |
| Net surplus | -$235K | $1K | $1K | -$100K | -$265K | +12.8% |
| Total assets | $6.4M | $7.3M | $7.3M | $8.2M | $10.8M | +67.5% |
| Total liabilities | $1.8M | $2.5M | $2.5M | $3.5M | $6.3M | +244.0% |
| Net assets | $4.6M | $4.9M | $4.9M | $4.8M | $4.5M | -2.5% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
SUSANNAH MILLER General Manager· 40h/wk | $170,148 | $22,831 |
KEVIN RICE CLUBHOUSE MANAGER· 40h/wk | $141,074 | $15,627 |
BRIAN CURTIS GOLF SUPERINTENDENT· 40h/wk | $109,615 | $17,039 |
KEITH OHR Head Golf Professional· 40h/wk | $109,556 | $27,790 |
KAREN GROODY Controller· 40h/wk | $108,900 | — |
+ 9 unpaid officers/directors as reported (AMY FAUST, ANDREW SWAN, BRENT ETSCORN, +6 more)
Top contractors
FY23 · vendors paid $100k+ as reported
| Vendor | Service | Paid |
|---|---|---|
| Sanders Golf LLC BARTLETT, TN | Construction & renovation | $1,388,021 |
| Phoenix Pools LLC LOUISVILLE, KY | Construction & renovation | $295,697 |
| Triple H Services LLC NEWLAND, NC | MAINTENANCE | $213,527 |
| Spray-Tec Inc SHELBYVILLE, KY | Construction & renovation | $162,584 |
| Sullivan Cozart LOUISVILLE, KY | Construction & renovation | $100,243 |
Revenue by activity
FY23 · dues, greens fees, dining, and other sources
| Line item | Amount |
|---|---|
| MEMBERSHIP DUES | $2,494,602 |
| GOLF | $873,305 |
| ASSESSMENTS | $312,009 |
| INITIATION FEES | $294,250 |
| SWIMMING | $7,220 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
$4.6M
▲ $2.7M new borrowing
Net land, buildings & equipment
$9.2M
book value, net of depreciation
Facility age
41%
accumulated depreciation ÷ cost — higher = older plant
Debt over time
Operating expenses
FY23 · Form 990, Part IX
| Insurance | $93,120 |
| Occupancy | $583,686 |
| Depreciation & depletion | $483,569 |
| Office expenses | $202,533 |
| Accounting fees | $15,950 |
| Other professional fees | $238,186 |
Retirement & benefit plans
DOL Form 5500 · plan sponsors
LAKE FOREST COUNTRY CLUB 401(K) PLAN
pension · 30 participants · $814K assets · FY2024
LAKE FOREST COUNTY CLUB CBS BENEFIT PLAN
welfare · 21 participants · $21K assets · FY2024
LFounded in 2004, Lake Forest Country Club Inc reported $5.03M of revenue for FY23, at an operating margin of -5.3%. Revenue moved up 5.4% 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
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