GIRE501(c)(7) · MEDIUMNAICS 713910EIN 56-0245080
Greensboro Country Club Incorporated
Greensboro, NC · founded 1943
13 filings on recordFY 2011–2023medium confidence
Compare to peers →FY23 Total Revenue
$18.86M
▲ 24.7% YoY
FY23 Total Expenses
$20.64M
▲ 35.3% YoY
Operating Margin
-9.4%
revenue minus expenses ÷ revenue
Employees
469
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$18.9M
▲ 62.8% / 5y
Expenses
$20.6M
▲ 78.0% / 5y
Total Assets
$35.1M
▲ 80.8% / 5y
Total Liabilities
$21.8M
▲ 362.7% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $11.6M | $13.7M | $13.7M | $15.1M | $18.9M | +62.8% |
| Expenses | $11.6M | $12.9M | $12.9M | $15.3M | $20.6M | +78.0% |
| Net surplus | -$10K | $792K | $792K | -$131K | -$1.8M | +18355.0% |
| Total assets | $19.4M | $22.3M | $22.3M | $35.6M | $35.1M | +80.8% |
| Total liabilities | $4.7M | $7.0M | $7.0M | $20.5M | $21.8M | +362.7% |
| Net assets | $14.7M | $15.3M | $15.3M | $15.1M | $13.3M | -9.3% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
MICHELLE LUNNEY Chief Financial Officer· 50h/wk | $314,561 | $29,352 |
DOUG LOWE GREENS SUPERINTENDANT· 50h/wk | $213,428 | $34,442 |
ROBERT FRITZ GOLF TEACHING PRO· 50h/wk | $205,311 | $7,353 |
SHAYNE TAYLOR Executive Chef· 50h/wk | $177,111 | $26,117 |
TYLER GOSSELIN Director of Golf· 50h/wk | $147,731 | $31,442 |
FRIEDRICH EDER General Manager· 50h/wk | $143,746 | $7,615 |
BETH WILKERSON DIRECTOR OF HR· 50h/wk | $114,090 | $25,241 |
LORI FRASIER Membership Director· 50h/wk | $110,769 | $7,877 |
TERRA WALDRON OUTGOING GENERAL MANAGER· 50h/wk | $33,579 | — |
+ 15 unpaid officers/directors as reported (CARTER DAVENPORT, DAVID EGERTON, ELIZABETH PAYONK, +12 more)
Top contractors
FY23 · vendors paid $100k+ as reported
| Vendor | Service | Paid |
|---|---|---|
| Turner Asphalt RALEIGH, NC | Construction & renovation | $115,513 |
Revenue by activity
FY23 · dues, greens fees, dining, and other sources
| Line item | Amount |
|---|---|
| MEMBERSHIP DUES | $11,324,462 |
| HOLIDAY BONUS, LESSONS, AND TRAIN | $2,491,895 |
| GOLF OPERATIONS | $1,653,851 |
| FITNESS CENTER | $200,074 |
| OTHER INCOME | $142,030 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
$19.2M
▲ $264K new borrowing
Net land, buildings & equipment
$30.3M
book value, net of depreciation
Facility age
49%
accumulated depreciation ÷ cost — higher = older plant
Debt over time
Operating expenses
FY23 · Form 990, Part IX
| Occupancy | $1,876,162 |
| Depreciation & depletion | $3,100,557 |
| Information technology | $151,398 |
| Advertising & promotion | $50 |
| Office expenses | $102,477 |
| Legal fees | $28,588 |
| Accounting fees | $30,000 |
| Other professional fees | $228,166 |
Retirement & benefit plans
DOL Form 5500 · plan sponsors
GREENSBORO COUNTRY CLUB, INC.
welfare · 101 participants · FY2024
GREENSBORO COUNTRY CLUB 401K RETIREMENT PLAN
pension · 384 participants · FY2024
| Service provider | Paid |
|---|---|
| Stanley Benefit Services Inc | $11,798 |
| Fund Direct Advisors | $9,350 |
GFounded in 1943, Greensboro Country Club Incorporated reported $18.86M of revenue for FY23, at an operating margin of -9.4%. Revenue moved up 24.7% 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
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