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Data from public IRS Form 990 · ProPublica Nonprofit Explorer

BFIL501(c)(7) · MEDIUMNAICS 713910EIN 56-0141970

Biltmore Forest Country Club Inc

Asheville, NC · founded 1934

13 filings on recordFY 2011–2023medium confidence

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FY23 Total Revenue

$10.39M

▲ 15.7% YoY

FY23 Total Expenses

$12.05M

▲ 24.8% YoY

Operating Margin

-16.0%

revenue minus expenses ÷ revenue

Employees

220

headcount as reported on filing

The Five-Year Picture

FY2019 — FY2023 · as filed

Revenue

$10.4M

▲ 40.0% / 5y

Expenses

$12.1M

▲ 47.8% / 5y

Total Assets

$38.5M

▲ 67.6% / 5y

Total Liabilities

$12.6M

▲ 126.5% / 5y

Year-on-year detail

from IRS Form 990

Line	FY19	FY20	FY21	FY22	FY23	Δ total
Revenue	$7.4M	$8.7M	$8.7M	$9.0M	$10.4M	+40.0%
Expenses	$8.2M	$8.9M	$8.9M	$9.7M	$12.1M	+47.8%
Net surplus	-$729K	-$190K	-$190K	-$674K	-$1.7M	+127.9%
Total assets	$23.0M	$27.5M	$27.5M	$32.1M	$38.5M	+67.6%
Total liabilities	$5.5M	$4.5M	$4.5M	$7.3M	$12.6M	+126.5%
Net assets	$17.4M	$23.1M	$23.1M	$24.8M	$26.0M	+48.9%

Officer & staff compensation

FY23 · from IRS Form 990

Officer · Employee	Reportable	Other
COO/Assistance Secretary· 40h/wk	$289,202	$8,502
Golf Course Superintendent· 40h/wk	$259,167	$8,602
Chief Financial Officer· 40h/wk	$155,483	$7,773
Head Golf Professional· 40h/wk	$127,061	$8,267
Head Tennis Professional· 40h/wk	$116,691	$5,435

+ 15 unpaid officers/directors as reported (, , , +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
Membership Dues & Initiation Fees	$6,282,638
Golf Operations & Tournaments	$1,166,983
Room Rental Fees	$654,931
Tennis & Fitness Fees	$193,981
Locker Rental & Shoe Shine	$78,328

Balance sheet & capital

FY23 · IRS Form 990, Part X

Mortgages & notes payable

—

end of year

Net land, buildings & equipment

$32.4M

book value, net of depreciation

Facility age

32%

accumulated depreciation ÷ cost — higher = older plant

Mortgages & notes payable is the club’s reported long-term debt. A year-over-year rise typically signals a capital project being financed; a fall signals deleveraging. A dash marks a line the filing did not report — not a zero.

Operating expenses

Professionally managedFY23 · Form 990, Part IX

Management fees	$110,443
Insurance	$177,238
Occupancy	$682,096
Depreciation & depletion	$1,578,194
Information technology	$156,102
Office expenses	$260,568
Legal fees	$7,538
Accounting fees	$27,300
Other professional fees	$557,158

Selected functional-expense lines as itemized on Form 990, Part IX. A reported management-fee line indicates the club pays an outside management company. Lines the filing left blank are omitted.

Retirement & benefit plans

DOL Form 5500 · plan sponsors

BILTMORE FOREST COUNTRY CLUB 401(K) RETIREMENT PLAN

pension · 90 participants · $6.9M assets · FY2024

Retirement and welfare plans the club sponsors, from its DOL Form 5500 filing. Listed providers are the recordkeepers, insurers, and advisors paid $5,000 or more (Schedule C) — the incumbent benefits vendors.

BFounded in 1934, Biltmore Forest Country Club Inc reported $10.39M of revenue for FY23, at an operating margin of -16.0%. Revenue moved up 15.7% 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

▸ Form 990, FY2023 · period ending Sun Dec 31 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

▸ Form 990, FY2022 · period ending Sat Dec 31 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

▸ Form 990, FY2021 · period ending Fri Dec 31 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

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