INVE501(c)(7) · MEDIUMNAICS 713910EIN 38-0680025
Inverness Country Club
Chelsea, MI · founded 1947
13 filings on recordFY 2011–2023medium confidence
Compare to peers →FY23 Total Revenue
$601k
▲ 17.5% YoY
FY23 Total Expenses
$448k
▲ 21.2% YoY
Operating Margin
25.4%
revenue minus expenses ÷ revenue
Employees
23
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$601K
▲ 109.9% / 5y
Expenses
$448K
▲ 58.5% / 5y
Total Assets
$714K
▲ 294.7% / 5y
Total Liabilities
$93K
no prior year
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $286K | $397K | $397K | $512K | $601K | +109.9% |
| Expenses | $283K | $310K | $310K | $370K | $448K | +58.5% |
| Net surplus | $4K | $87K | $87K | $142K | $153K | +4183.2% |
| Total assets | $181K | $326K | $326K | $476K | $714K | +294.7% |
| Total liabilities | $0 | $0 | $0 | $8K | $93K | — |
| Net assets | $181K | $326K | $326K | $468K | $620K | +243.0% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|
+ 12 unpaid officers/directors as reported (Adam Tillman, Brent Martin, Bryan Hayes, +9 more)
All 12 listed officers reported $0 compensation — volunteer board.
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 | $347,987 |
| Miscellaneous Income | $65,392 |
| Initiation Fees | $29,750 |
| Greens Fees | $22,735 |
| Member Clubhouse Use | $17,575 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
—
end of year
Net land, buildings & equipment
$484K
book value, net of depreciation
Facility age
67%
accumulated depreciation ÷ cost — higher = older plant
Operating expenses
FY23 · Form 990, Part IX
| Insurance | $10,469 |
| Occupancy | $46,261 |
| Depreciation & depletion | $32,384 |
| Legal fees | $4,200 |
| Accounting fees | $6,569 |
IFounded in 1947, Inverness Country Club reported $601k of revenue for FY23, at an operating margin of 25.4%. Revenue moved up 17.5% 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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