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Data from public IRS Form 990 · ProPublica Nonprofit Explorer

CBAN501(c)(7) · MEDIUMNAICS 713910EIN 22-0805690

Canoe Brook Country Club

Summit, NJ · founded 1935

12 filings on recordFY 2011–2023medium confidence

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FY23 Total Revenue

$23.42M

▲ 3.3% YoY

FY23 Total Expenses

$21.17M

▲ 7.2% YoY

Operating Margin

9.6%

revenue minus expenses ÷ revenue

Employees

377

headcount as reported on filing

The Five-Year Picture

FY2019 — FY2023 · as filed

Revenue

$23.4M

▲ 23.8% / 5y

Expenses

$21.2M

▲ 15.5% / 5y

Total Assets

$49.0M

▲ 7.6% / 5y

Total Liabilities

$18.9M

▼ 17.1% / 5y

Year-on-year detail

from IRS Form 990

Line	FY19	FY20	FY21	FY22	FY23	Δ total
Revenue	$18.9M	$19.9M	$19.9M	$22.7M	$23.4M	+23.8%
Expenses	$18.3M	$16.8M	$16.8M	$19.8M	$21.2M	+15.5%
Net surplus	$575K	$3.1M	$3.1M	$2.9M	$2.2M	+290.1%
Total assets	$45.5M	$46.7M	$46.7M	$49.0M	$49.0M	+7.6%
Total liabilities	$22.8M	$21.1M	$21.1M	$20.7M	$18.9M	-17.1%
Net assets	$22.7M	$25.6M	$25.6M	$28.3M	$30.1M	+32.4%

Officer & staff compensation

FY23 · from IRS Form 990

Officer · Employee	Reportable	Other
DREW BRODERICK Director of Racquets· 45h/wk	$385,349	$12,089
ALBERT COSTANTINI COO/GM· 45h/wk	$379,962	$50,328
CORY FISCHER CFO/AGM· 45h/wk	$285,425	$28,882
ROBERT SCHIPPER Director of Grounds· 45h/wk	$225,696	$11,030
COREY HEYER Executive Chef· 45h/wk	$208,951	$19,217
JAMIE CERINO - RIZZO Membership Director· 45h/wk	$159,131	$10,725
KIMBERLY CONDIT CLUBHOUSE MANAGER· 45h/wk	$147,922	$15,271

+ 18 unpaid officers/directors as reported (ALBERT LORD, ARJUN MURTI, CATHERINE BUELL, +15 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	$11,227,273
INITIATION FEES	$2,255,221
CAPITAL ASSESSMENT	$1,744,332

Balance sheet & capital

FY23 · IRS Form 990, Part X

Mortgages & notes payable

$8.2M

▼ $1.2M paid down

Net land, buildings & equipment

$35.2M

book value, net of depreciation

Facility age

49%

accumulated depreciation ÷ cost — higher = older plant

Debt over time

Mortgages & notes payable is the club’s reported long-term debt. A year-over-year rise typically signals a capital project being financed; a fall signals deleveraging. A dash marks a line the filing did not report — not a zero.

Operating expenses

FY23 · Form 990, Part IX

Insurance	$380,831
Occupancy	$1,232,550
Depreciation & depletion	$2,543,440
Information technology	$143,788
Office expenses	$1,047,493
Legal fees	$28,061
Accounting fees	$45,996
Other professional fees	$160,209

Selected functional-expense lines as itemized on Form 990, Part IX. A reported management-fee line indicates the club pays an outside management company. Lines the filing left blank are omitted.

Retirement & benefit plans

DOL Form 5500 · plan sponsors

CANOE BROOK COUNTRY CLUB 401(K) RETIREMENT PLAN

pension · 339 participants · $6.2M assets · FY2024

Retirement and welfare plans the club sponsors, from its DOL Form 5500 filing. Listed providers are the recordkeepers, insurers, and advisors paid $5,000 or more (Schedule C) — the incumbent benefits vendors.

CFounded in 1935, Canoe Brook Country Club reported $23.42M of revenue for FY23, at an operating margin of 9.6%. Revenue moved up 3.3% 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

▸ Form 990, FY2023 · period ending Fri Mar 31 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

▸ Form 990, FY2022 · period ending Thu Mar 31 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

▸ Form 990, FY2021 · period ending Wed Mar 31 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

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