SOME501(c)(7) · MEDIUMNAICS 713910EIN 41-0547610
Somerset Country Club
Mendota Hts, MN · founded 1944
13 filings on recordFY 2011–2023medium confidence
Compare to peers →FY23 Total Revenue
$3.13M
▲ 16.5% YoY
FY23 Total Expenses
$3.79M
▲ 12.9% YoY
Operating Margin
-21.0%
revenue minus expenses ÷ revenue
Employees
111
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$3.1M
▲ 13.4% / 5y
Expenses
$3.8M
▲ 25.0% / 5y
Total Assets
$7.8M
▲ 70.6% / 5y
Total Liabilities
$2.5M
▲ 354.1% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $2.8M | $2.4M | $2.4M | $2.7M | $3.1M | +13.4% |
| Expenses | $3.0M | $3.1M | $3.1M | $3.4M | $3.8M | +25.0% |
| Net surplus | -$268K | -$612K | -$612K | -$670K | -$658K | +145.6% |
| Total assets | $4.6M | $5.0M | $5.0M | $6.7M | $7.8M | +70.6% |
| Total liabilities | $552K | $478K | $478K | $2.0M | $2.5M | +354.1% |
| Net assets | $4.0M | $4.5M | $4.5M | $4.7M | $5.3M | +31.7% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
MICHAEL FOLEY Head Golf Professional· 40h/wk | $143,956 | $27,093 |
SARA CAIRNS General Manager· 40h/wk | $139,515 | $26,074 |
JAMES BADE Golf Course Superintendent· 40h/wk | $137,472 | $35,277 |
+ 15 unpaid officers/directors as reported (BETH JACKSON, BILL LENTSCH, DANIEL GRIMSRUD, +12 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 |
|---|---|
| TENNIS, POOL, AND GOLF FEES | $218,867 |
| OTHER | $19,449 |
| MINIMUM CHARGE | $14,264 |
| PRO SHOP ENTRY FEES | $9,239 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
—
end of year
Net land, buildings & equipment
$6.2M
book value, net of depreciation
Facility age
61%
accumulated depreciation ÷ cost — higher = older plant
Operating expenses
FY23 · Form 990, Part IX
| Insurance | $119,744 |
| Depreciation & depletion | $539,520 |
| Information technology | $126,849 |
| Office expenses | $67,206 |
Retirement & benefit plans
DOL Form 5500 · plan sponsors
SOMERSET COUNTRY CLUB 401(K) RETIREMENT PLAN
pension · 29 participants · $5.0M assets · FY2024
SFounded in 1944, Somerset Country Club reported $3.13M of revenue for FY23, at an operating margin of -21.0%. Revenue moved up 16.5% 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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