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Data from public IRS Form 990 · ProPublica Nonprofit Explorer

CARM501(c)(7) · MEDIUMNAICS 713910EIN 56-0507966

Carmel Country Club Inc

Charlotte, NC · founded 1949

13 filings on recordFY 2011–2023medium confidence

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FY23 Total Revenue

$32.36M

▲ 27.6% YoY

FY23 Total Expenses

$31.88M

▲ 17.7% YoY

Operating Margin

1.5%

revenue minus expenses ÷ revenue

Employees

526

headcount as reported on filing

The Five-Year Picture

FY2019 — FY2023 · as filed

Revenue

$32.4M

▲ 45.7% / 5y

Expenses

$31.9M

▲ 57.1% / 5y

Total Assets

$54.8M

▲ 40.0% / 5y

Total Liabilities

$18.0M

▲ 122.6% / 5y

Year-on-year detail

from IRS Form 990

Line	FY19	FY20	FY21	FY22	FY23	Δ total
Revenue	$22.2M	$23.3M	$23.3M	$25.4M	$32.4M	+45.7%
Expenses	$20.3M	$21.6M	$21.6M	$27.1M	$31.9M	+57.1%
Net surplus	$1.9M	$1.8M	$1.8M	-$1.7M	$485K	-74.8%
Total assets	$39.1M	$56.1M	$56.1M	$54.7M	$54.8M	+40.0%
Total liabilities	$8.1M	$21.4M	$21.4M	$21.5M	$18.0M	+122.6%
Net assets	$31.1M	$34.7M	$34.7M	$33.1M	$36.8M	+18.6%

Officer & staff compensation

FY23 · from IRS Form 990

Officer · Employee	Reportable	Other
AARON DAWSON General Manager· 50h/wk	$424,038	$25,950
DONALD GOODRICH COURSE SUPERINTENDANT· 50h/wk	$293,431	$31,548
JEFF NICHOLS DIRECOTR OF GOLF, FORMER· 50h/wk	$287,753	—
MARK WOOD DIRECTOR OF INSTRUCTION· 50h/wk	$272,750	$31,901
CLARK HOWELL Director of Racquets· 50h/wk	$260,805	$30,129
CRAIG MEYER Executive Chef· 50h/wk	$260,127	$29,918
ALEKSANDAR MARKOV ASSISTANT TENNIS PRO· 50h/wk	$254,757	$34,853
JASON MILLS Director of Golf· 50h/wk	$205,995	$11,565
RICHARD LANCASTER Controller· 50h/wk	$199,065	$30,117
NICOLE GUY CLUBHOUSE MANAGER· 50h/wk	$180,274	$26,823
PHILIP DODDS Membership Director· 50h/wk	$178,587	$4,878
JOHN SCHULTZ General Manager· 50h/wk	$173,868	—

+ 14 unpaid officers/directors as reported (ALI ELAASAR, AMY SHOBER, BILL HAMEL, +11 more)

Top contractors

FY23 · vendors paid $100k+ as reported

Vendor	Service	Paid
US Foodservice CHARLOTTE, NC	Food & beverage	$1,450,384
Smart And Quick Solutions Cb LLC CHARLOTTE, NC	Security & staffing	$648,345
Golf Course Services CHARLOTTE, NC	Management services	$628,722
Acushnet BOSTON, MA	Management services	$616,976
Mecklenburg Abc Board CHARLOTTE, NC	Food & beverage	$411,537

Revenue by activity

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

Line item	Amount
MEMBER DUES & ASSESSMENTS	$20,264,544
GOLF	$3,652,025
TENNIS	$926,902
LOCKERS	$297,960
POOL HEALTH & FITNESS	$275,310

Balance sheet & capital

FY23 · IRS Form 990, Part X

Mortgages & notes payable

—

end of year

Net land, buildings & equipment

$39.8M

book value, net of depreciation

Facility age

52%

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

FY23 · Form 990, Part IX

Insurance	$349,449
Occupancy	$832,168
Depreciation & depletion	$4,350,882
Advertising & promotion	$84,154
Office expenses	$943,923
Other professional fees	$1,112,742

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

CARMEL COUNTRY CLUB, INC. EMPLOYEE BENEFIT PLAN

welfare · 151 participants · FY2024

CARMEL COUNTRY CLUB INC 401(K)PLAN

pension · 184 participants · FY2024

Service provider	Paid
Alerus Retirement Solutions	$25,831

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.

CFounded in 1949, Carmel Country Club Inc reported $32.36M of revenue for FY23, at an operating margin of 1.5%. Revenue moved up 27.6% 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 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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