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Data from public IRS Form 990 · ProPublica Nonprofit Explorer

LHAK501(c)(7) · MEDIUMNAICS 713910EIN 56-0486013

Lake Hickory Country Club Inc

Hickory, NC · founded 1950

13 filings on recordFY 2011–2023medium confidence

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FY23 Total Revenue

$6.09M

▲ 11.6% YoY

FY23 Total Expenses

$6.05M

▲ 14.5% YoY

Operating Margin

0.8%

revenue minus expenses ÷ revenue

Employees

252

headcount as reported on filing

The Five-Year Picture

FY2019 — FY2023 · as filed

Revenue

$6.1M

▲ 33.4% / 5y

Expenses

$6.0M

▲ 29.8% / 5y

Total Assets

$7.3M

▲ 127.5% / 5y

Total Liabilities

$5.4M

▲ 96.3% / 5y

Year-on-year detail

from IRS Form 990

Line	FY19	FY20	FY21	FY22	FY23	Δ total
Revenue	$4.6M	$5.9M	$5.9M	$5.5M	$6.1M	+33.4%
Expenses	$4.7M	$4.7M	$4.7M	$5.3M	$6.0M	+29.8%
Net surplus	-$90K	$1.2M	$1.2M	$178K	$46K	-151.1%
Total assets	$3.2M	$4.8M	$4.8M	$6.6M	$7.3M	+127.5%
Total liabilities	$2.7M	$3.2M	$3.2M	$4.8M	$5.4M	+96.3%
Net assets	$450K	$1.6M	$1.6M	$1.8M	$1.9M	+317.7%

Officer & staff compensation

FY23 · from IRS Form 990

Officer · Employee	Reportable	Other
CHARLES GARNETT Director of Racquets· 40h/wk	$190,996	$14,425
KENNETH CHURCH General Manager· 40h/wk	$145,909	$49,548
BRIAN REPPART DIRECTOR OF GOLF AND CS OP· 40h/wk	$127,243	$9,529
CANDAS BROWN DINING OPERATIONS MANAGER· 40h/wk	$79,173	$6,857
KAREN CONNER Controller· 40h/wk	$78,178	$13,050

+ 12 unpaid officers/directors as reported (BARBARA HAEME, BILLY TRUITT, BUSTER MANN, +9 more)

Top contractors

FY23 · vendors paid $100k+ as reported

Vendor	Service	Paid
David E Looper And Co HICKORY, NC	Construction & renovation	$749,738
Landscapes Unlimited LLC LINCOLNTON, NE	Construction & renovation	$346,514
Bill Love Grading Inc CONOVER, NC	Management services	$102,400

Revenue by activity

FY23 · dues, greens fees, dining, and other sources

Line item	Amount
MEMBERSHIP DUES	$3,282,292
GOLF INCOME	$693,507
INITIATION FEES	$156,483

Balance sheet & capital

FY23 · IRS Form 990, Part X

Mortgages & notes payable

$4.6M

▲ $602K new borrowing

Net land, buildings & equipment

$4.7M

book value, net of depreciation

Facility age

75%

accumulated depreciation ÷ cost — higher = older plant

Debt over time

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

FY23 · Form 990, Part IX

Insurance	$274,494
Depreciation & depletion	$491,580
Advertising & promotion	$30,325
Office expenses	$19,199
Accounting fees	$23,177

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

LAKE HICKORY COUNTRY CLUB, INC. 401(K) PLAN

pension · 52 participants · $1.9M 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.

LFounded in 1950, Lake Hickory Country Club Inc reported $6.09M of revenue for FY23, at an operating margin of 0.8%. Revenue moved up 11.6% 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 Thu Aug 31 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

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

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

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