PHRE501(c)(7) · MEDIUMNAICS 713910EIN 22-1207825
Preakness Hills Country Club
Wayne, NJ · founded 1945
14 filings on recordFY 2010–2023medium confidence
Compare to peers →FY23 Total Revenue
$9.61M
▲ 12.5% YoY
FY23 Total Expenses
$8.93M
▲ 2.0% YoY
Operating Margin
7.1%
revenue minus expenses ÷ revenue
Employees
135
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$9.6M
▲ 26.9% / 5y
Expenses
$8.9M
▲ 19.0% / 5y
Total Assets
$12.7M
▲ 4.1% / 5y
Total Liabilities
$7.8M
▲ 45.2% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $7.6M | $7.8M | $7.8M | $8.5M | $9.6M | +26.9% |
| Expenses | $7.5M | $9.1M | $9.1M | $8.8M | $8.9M | +19.0% |
| Net surplus | $67K | -$1.2M | -$1.2M | -$208K | $680K | +917.4% |
| Total assets | $12.2M | $11.9M | $11.9M | $12.4M | $12.7M | +4.1% |
| Total liabilities | $5.3M | $7.5M | $7.5M | $8.2M | $7.8M | +45.2% |
| Net assets | $6.8M | $4.4M | $4.4M | $4.2M | $4.9M | -28.1% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
RACHEL KRAMER General Manager· 40h/wk | $231,346 | $28,922 |
CHRISTOPHER PASSARO Executive Chef· 40h/wk | $213,400 | $32,130 |
JOHN O'KEEFE Golf Course Superintendent· 40h/wk | $203,339 | $19,322 |
+ 15 unpaid officers/directors as reported (ALICE BROSER, ANDREW SILVERMAN, BRIAN MANDLER, +12 more)
Top contractors
FY23 · vendors paid $100k+ as reported
| Vendor | Service | Paid |
|---|---|---|
| Urbano Earth LLC NEW PROVIDENCE, NJ | Construction & renovation | $352,720 |
Revenue by activity
FY23 · dues, greens fees, dining, and other sources
| Line item | Amount |
|---|---|
| MEMBERSHIP DUES | $3,929,792 |
| CAPITAL ASSESSMENTS | $1,576,135 |
| OPERATING ASSESSMENT | $513,063 |
| INITIATION FEES | $366,950 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
$2.9M
▼ $688K paid down
Net land, buildings & equipment
$7.9M
book value, net of depreciation
Facility age
—
accumulated depreciation ÷ cost — higher = older plant
Debt over time
Operating expenses
FY23 · Form 990, Part IX
| Insurance | $203,345 |
| Occupancy | $952,205 |
| Information technology | $37,629 |
| Office expenses | $480,344 |
| Accounting fees | $28,300 |
| Other professional fees | $169,102 |
Retirement & benefit plans
DOL Form 5500 · plan sponsors
PREAKNESS HILLS COUNTRY CLUB 401K PLAN
pension · 67 participants · $1.2M assets · FY2024
PFounded in 1945, Preakness Hills Country Club reported $9.61M of revenue for FY23, at an operating margin of 7.1%. Revenue moved up 12.5% 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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