GLUL501(c)(7) · MEDIUMNAICS 713910EIN 38-0615040
Gull Lake Country Club
Richland, MI · founded 1934
13 filings on recordFY 2011–2023medium confidence
Compare to peers →FY23 Total Revenue
$4.60M
▲ 9.2% YoY
FY23 Total Expenses
$4.73M
▲ 7.5% YoY
Operating Margin
-2.9%
revenue minus expenses ÷ revenue
Employees
185
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$4.6M
▲ 38.4% / 5y
Expenses
$4.7M
▲ 48.0% / 5y
Total Assets
$7.8M
▲ 5.4% / 5y
Total Liabilities
$4.7M
▲ 22.4% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $3.3M | $4.1M | $4.1M | $4.2M | $4.6M | +38.4% |
| Expenses | $3.2M | $4.1M | $4.1M | $4.4M | $4.7M | +48.0% |
| Net surplus | $125K | -$18K | -$18K | -$192K | -$134K | -207.1% |
| Total assets | $7.4M | $8.0M | $8.0M | $8.0M | $7.8M | +5.4% |
| Total liabilities | $3.9M | $4.7M | $4.7M | $4.8M | $4.7M | +22.4% |
| Net assets | $3.5M | $3.3M | $3.3M | $3.2M | $3.0M | -13.3% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
Steve Williams General Manager· 40h/wk | $230,000 | — |
+ 11 unpaid officers/directors as reported (Bill Sikkema, Blake Crocker, Colleen Krueger, +8 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 | $3,008,181 |
| Golf course | $462,254 |
| Other revenue | $196,096 |
| Boating activities | $153,860 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
$3.5M
▼ $237K paid down
Net land, buildings & equipment
$7.1M
book value, net of depreciation
Facility age
57%
accumulated depreciation ÷ cost — higher = older plant
Debt over time
Operating expenses
FY23 · Form 990, Part IX
| Insurance | $64,450 |
| Occupancy | $131,181 |
| Depreciation & depletion | $582,763 |
| Advertising & promotion | $11,371 |
| Office expenses | $2,750 |
| Other professional fees | $47,148 |
Retirement & benefit plans
DOL Form 5500 · plan sponsors
GULL LAKE COUNTRY CLUB 401(K) PROFIT SHARING PLAN
pension · 34 participants · $792K assets · FY2024
GFounded in 1934, Gull Lake Country Club reported $4.60M of revenue for FY23, at an operating margin of -2.9%. Revenue moved up 9.2% 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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