PALM501(c)(7) · MEDIUMNAICS 713910EIN 33-0775273
The Palms Golf Club Inc
La Quinta, CA
13 filings on recordFY 2011–2023medium confidence
Compare to peers →FY23 Total Revenue
$4.78M
▼ 4.6% YoY
FY23 Total Expenses
$6.45M
▲ 16.8% YoY
Operating Margin
-34.9%
revenue minus expenses ÷ revenue
Employees
45
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$4.8M
▲ 18.3% / 5y
Expenses
$6.4M
▲ 55.3% / 5y
Total Assets
$8.8M
▼ 2.6% / 5y
Total Liabilities
$3.4M
▲ 117.6% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $4.0M | $4.8M | $4.8M | $5.0M | $4.8M | +18.3% |
| Expenses | $4.2M | $4.6M | $4.6M | $5.5M | $6.4M | +55.3% |
| Net surplus | -$112K | $269K | $269K | -$510K | -$1.7M | +1389.6% |
| Total assets | $9.1M | $9.4M | $9.4M | $8.7M | $8.8M | -2.6% |
| Total liabilities | $1.6M | $1.8M | $1.8M | $1.6M | $3.4M | +117.6% |
| Net assets | $7.5M | $7.6M | $7.6M | $7.1M | $5.4M | -27.9% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
P DAVID BAUCOM CM/COO· 40h/wk | $192,814 | $42,000 |
RIGOBERTO REGALADO COURSE MAINT· 40h/wk | $163,858 | $40,000 |
+ 5 unpaid officers/directors as reported (JIM KING, MARK HOPEE, RICHARD KNEE, +2 more)
Top contractors
FY23 · vendors paid $100k+ as reported
| Vendor | Service | Paid |
|---|---|---|
| Coachella Valley Catering LA QUINTA, CA | Food & beverage | $320,703 |
Revenue by activity
FY23 · dues, greens fees, dining, and other sources
| Line item | Amount |
|---|---|
| MEMBERSHIP DUES & ASSESSMENTS | $3,260,000 |
| GOLF RELATED | $996,681 |
| FOOD & BEVERAGE RELATED | $498,852 |
| GOLF RELATED - NM | $26,405 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
—
end of year
Net land, buildings & equipment
$7.0M
book value, net of depreciation
Facility age
48%
accumulated depreciation ÷ cost — higher = older plant
Operating expenses
FY23 · Form 990, Part IX
| Insurance | $93,951 |
| Depreciation & depletion | $390,802 |
| Office expenses | $55,332 |
| Legal fees | $179,183 |
| Accounting fees | $17,610 |
TThe Palms Golf Club Inc reported $4.78M of revenue for FY23, at an operating margin of -34.9%. Revenue moved down 4.6% 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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