PARI501(c)(7) · MEDIUMNAICS 713910EIN 54-0346990
Princess Anne Country Club Inc
Virginia Bch, VA · founded 1945
13 filings on recordFY 2011–2023medium confidence
Compare to peers →FY23 Total Revenue
$11.97M
▲ 8.1% YoY
FY23 Total Expenses
$11.80M
▲ 12.1% YoY
Operating Margin
1.3%
revenue minus expenses ÷ revenue
Employees
421
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$12.0M
▲ 37.0% / 5y
Expenses
$11.8M
▲ 40.9% / 5y
Total Assets
$27.8M
▲ 36.3% / 5y
Total Liabilities
$13.1M
▲ 49.4% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $8.7M | $11.1M | $11.1M | $11.1M | $12.0M | +37.0% |
| Expenses | $8.4M | $9.0M | $9.0M | $10.5M | $11.8M | +40.9% |
| Net surplus | $359K | $2.1M | $2.1M | $544K | $161K | -55.1% |
| Total assets | $20.4M | $27.2M | $27.2M | $27.3M | $27.8M | +36.3% |
| Total liabilities | $8.8M | $13.1M | $13.1M | $12.8M | $13.1M | +49.4% |
| Net assets | $11.6M | $14.0M | $14.0M | $14.4M | $14.7M | +26.3% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
WILLIAM S SHONK General Manager· 60h/wk | $267,463 | $23,202 |
MARTIN BLACK Head Tennis Professional· 40h/wk | $125,955 | $9,597 |
JORDAN SPITLER Dir., Golf Course Maintenance· 40h/wk | $124,892 | — |
RONALD G BENSON Executive Chef· 40h/wk | $121,154 | $3,635 |
JENNIFER GARROT ASST MANAGER, CLUBHOUSE OPS· 40h/wk | $108,657 | $18,438 |
MARDY COLLING Assistant Club Manager· 40h/wk | $100,844 | — |
PAT SHULER Board Treasurer· 2h/wk | $5,658 | — |
SUSAN PENDER Board President· 1h/wk | $5,658 | — |
+ 13 unpaid officers/directors as reported (AMY METZGER, BARBARA SESSOMS, BOBBY BEASLEY III, +10 more)
Top contractors
FY23 · vendors paid $100k+ as reported
| Vendor | Service | Paid |
|---|---|---|
| none | — | — |
Revenue by activity
FY23 · dues, greens fees, dining, and other sources
| Line item | Amount |
|---|---|
| MEMBER DUES | $5,398,358 |
| ASSESSMENT INCOME | $1,715,980 |
| GOLF SHOP/COURSE | $1,423,382 |
| MEMBER JOINING FEES | $510,311 |
| ATHLETICS | $341,893 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
$9.4M
▼ $508K paid down
Net land, buildings & equipment
$21.5M
book value, net of depreciation
Facility age
49%
accumulated depreciation ÷ cost — higher = older plant
Tax-exempt bond liabilities
$0
end of year
Debt over time
Operating expenses
FY23 · Form 990, Part IX
| Management fees | $0 |
| Insurance | $238,702 |
| Occupancy | $448,231 |
| Depreciation & depletion | $1,561,991 |
| Information technology | $14,725 |
| Advertising & promotion | $16,090 |
| Office expenses | $139,555 |
| Legal fees | $6,070 |
| Accounting fees | $46,031 |
| Other professional fees | $53,741 |
Retirement & benefit plans
DOL Form 5500 · plan sponsors
PRINCESS ANNE COUNTRY CLUB 401(K)PLAN
pension · 75 participants · $4.9M assets · FY2024
PRINCESS ANNE COUNTRY CLUB EMPLOYEE BENEFITS PLAN
welfare · 93 participants · FY2024
PFounded in 1945, Princess Anne Country Club Inc reported $11.97M of revenue for FY23, at an operating margin of 1.3%. Revenue moved up 8.1% 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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