ELMW501(c)(7) · MEDIUMNAICS 713910EIN 42-0234210
Elmwood Country Club
Marshalltown, IA · founded 1971
12 filings on recordFY 2012–2023medium confidence
Compare to peers →FY23 Total Revenue
$1.82M
▼ 9.1% YoY
FY23 Total Expenses
$1.80M
▲ 9.6% YoY
Operating Margin
0.8%
revenue minus expenses ÷ revenue
Employees
66
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$1.8M
▲ 38.2% / 5y
Expenses
$1.8M
▲ 31.9% / 5y
Total Assets
$2.5M
▲ 113.3% / 5y
Total Liabilities
$1.0M
▲ 69.5% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $1.3M | $2.3M | $2.3M | $2.0M | $1.8M | +38.2% |
| Expenses | $1.4M | $1.6M | $1.6M | $1.6M | $1.8M | +31.9% |
| Net surplus | -$51K | $714K | $714K | $355K | $15K | -129.6% |
| Total assets | $1.2M | $2.3M | $2.3M | $2.5M | $2.5M | +113.3% |
| Total liabilities | $602K | $1.2M | $1.2M | $1.1M | $1.0M | +69.5% |
| Net assets | $551K | $1.1M | $1.1M | $1.4M | $1.4M | +161.1% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|
+ 9 unpaid officers/directors as reported (ANDREW RANDALL, ERIN MCGREGOR, JONATHAN VANCE, +6 more)
All 9 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 |
|---|---|
| GOLF CART RENTAL FEES | $139,027 |
| GOLF GREEN FEES | $117,830 |
| OTHER CHARGES | $29,271 |
| SERVICE CHARGES | $6,049 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
$774K
▼ $23K paid down
Net land, buildings & equipment
$1.3M
book value, net of depreciation
Facility age
70%
accumulated depreciation ÷ cost — higher = older plant
Debt over time
Operating expenses
FY23 · Form 990, Part IX
| Insurance | $46,643 |
| Occupancy | $489,893 |
| Depreciation & depletion | $167,348 |
| Office expenses | $2,975 |
| Accounting fees | $16,190 |
| Other professional fees | $21,655 |
EFounded in 1971, Elmwood Country Club reported $1.82M of revenue for FY23, at an operating margin of 0.8%. Revenue moved down 9.1% 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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