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Data from public IRS Form 990 · ProPublica Nonprofit Explorer

HFIG501(c)(7) · CONFIRMEDNAICS 713910EIN 56-1184946

Highlands Falls Country Club Inc

Highlands, NC · founded 2008

13 filings on recordFY 2011–2023high confidence

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FY23 Total Revenue

$8.22M

▲ 10.0% YoY

FY23 Total Expenses

$7.08M

▲ 7.8% YoY

Operating Margin

13.8%

revenue minus expenses ÷ revenue

Employees

headcount as reported on filing

The Five-Year Picture

FY2019 — FY2023 · as filed

Revenue

$8.2M

▲ 53.1% / 5y

Expenses

$7.1M

▲ 52.2% / 5y

Total Assets

$22.2M

▲ 102.7% / 5y

Total Liabilities

$12.5M

▲ 522.3% / 5y

Year-on-year detail

from IRS Form 990

Line	FY19	FY20	FY21	FY22	FY23	Δ total
Revenue	$5.4M	$5.7M	$5.7M	$7.5M	$8.2M	+53.1%
Expenses	$4.7M	$5.5M	$5.5M	$6.6M	$7.1M	+52.2%
Net surplus	$712K	$266K	$266K	$897K	$1.1M	+59.7%
Total assets	$11.0M	$17.6M	$17.6M	$19.7M	$22.2M	+102.7%
Total liabilities	$2.0M	$9.9M	$9.9M	$11.1M	$12.5M	+522.3%
Net assets	$9.0M	$7.7M	$7.7M	$8.6M	$9.7M	+8.5%

Officer & staff compensation

FY23 · from IRS Form 990

Officer · Employee	Reportable	Other
JASON MACAULAY GENERAL MANAGER (END 04/24)· 50h/wk	$240,096	$23,663
FRED GEHRISCH GENERAL MANAGER (START 01/24)· 50h/wk	$165,412	$10,241
SHAWN OLAH Executive Chef· 50h/wk	$138,443	$9,249
GEORGE THOMPSON Membership Director· 40h/wk	$113,385	$7,063
ALLEN CHANDLER Head Golf Professional· 50h/wk	$112,006	$8,379
JUDY GREGORY Controller· 40h/wk	$100,224	$8,412

+ 11 unpaid officers/directors as reported (BOB FISHER, CHUCK CARVER, CRAIG FRAVERT, +8 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
MBRSHP DUES & ASSESSMENTS	$6,399,075
GOLF & PRO SHOP	$482,902
FITNESS CENTER	$96,222
CROQUET	$12,981
TENNIS	$2,430

Balance sheet & capital

FY23 · IRS Form 990, Part X

Mortgages & notes payable

—

end of year

Net land, buildings & equipment

$16.9M

book value, net of depreciation

Facility age

44%

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	$79,469
Occupancy	$461,382
Depreciation & depletion	$969,210
Information technology	$46,504
Advertising & promotion	$57,845
Office expenses	$1,174,186
Other professional fees	$493,626

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

HIGHLANDS FALLS COUNTRY CLUB, INC. RETIREMENT PLAN

pension · 29 participants · $2.4M 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.

Seasonal labor

DOL OFLC · certified H-2B positions

Role	Wage floor (annualized)	Workers	Season
Cooks, Restaurant Highlands, NC	$34K	8	Apr 2025 → Oct 2025
Waiters and Waitresses Highlands, NC	$29K	15	Apr 2025 → Oct 2025
Amusement and Recreation Attendants Highlands, NC	$24K	2	Apr 2025 → Oct 2025

Positions the club certified through the U.S. Department of Labor’s H-2B program — an independent, government wage floor for rank-and-file roles the Form 990 never itemizes. Decision-maker contact available to members →

HFounded in 2008, Highlands Falls Country Club Inc reported $8.22M of revenue for FY23, at an operating margin of 13.8%. Revenue moved up 10.0% 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 Tue Oct 31 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

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

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

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