COSC501(c)(7) · MEDIUMNAICS 713910EIN 56-0677644
Carolina Golf Club Inc 2415 Old Steel Creek Rd Charlotte Nc
Charlotte, NC · founded 1972
13 filings on recordFY 2011–2023medium confidence
Compare to peers →FY23 Total Revenue
$5.56M
▲ 9.4% YoY
FY23 Total Expenses
$5.89M
▲ 14.5% YoY
Operating Margin
-5.8%
revenue minus expenses ÷ revenue
Employees
91
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$5.6M
▲ 34.9% / 5y
Expenses
$5.9M
▲ 45.7% / 5y
Total Assets
$9.3M
▲ 4.9% / 5y
Total Liabilities
$4.7M
▲ 22.4% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $4.1M | $4.6M | $4.6M | $5.1M | $5.6M | +34.9% |
| Expenses | $4.0M | $4.4M | $4.4M | $5.1M | $5.9M | +45.7% |
| Net surplus | $84K | $266K | $266K | -$55K | -$323K | -484.8% |
| Total assets | $8.9M | $9.2M | $9.2M | $9.1M | $9.3M | +4.9% |
| Total liabilities | $3.8M | $4.1M | $4.1M | $4.1M | $4.7M | +22.4% |
| Net assets | $5.1M | $5.1M | $5.1M | $5.0M | $4.7M | -8.3% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
Billy Cleveland General Manager· 50h/wk | $205,000 | — |
Nate McKinniss Golf Course Superintendent· 50h/wk | $170,025 | — |
Bobby Cox Head Golf Professional· 50h/wk | $114,365 | — |
+ 13 unpaid officers/directors as reported (Bob Cordle, Craig Brookes, Dave Dove, +10 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 |
|---|---|
| Member dues and fees | $3,821,285 |
| Food and beverage | $791,024 |
| Golf charges | $788,623 |
| Pool | $658 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
$3.4M
▼ $151K paid down
Net land, buildings & equipment
$7.1M
book value, net of depreciation
Facility age
58%
accumulated depreciation ÷ cost — higher = older plant
Debt over time
Operating expenses
FY23 · Form 990, Part IX
| Insurance | $83,379 |
| Occupancy | $329,554 |
| Depreciation & depletion | $799,615 |
| Information technology | $64,996 |
| Office expenses | $51,123 |
| Accounting fees | $49,213 |
| Other professional fees | $66,199 |
Retirement & benefit plans
DOL Form 5500 · plan sponsors
CAROLINA GOLF CLUB, INC. 401(K) PROFIT SHARING PLAN
pension · 13 participants · $1.0M assets · FY2024
CFounded in 1972, Carolina Golf Club Inc 2415 Old Steel Creek Rd Charlotte Nc reported $5.56M of revenue for FY23, at an operating margin of -5.8%. Revenue moved up 9.4% 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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