PALM501(c)(7) · MEDIUMNAICS 713910EIN 57-0221480
Palmetto Golf Club
Aiken, SC · founded 1989
13 filings on recordFY 2011–2023medium confidence
Compare to peers →FY23 Total Revenue
$2.33M
▲ 0.2% YoY
FY23 Total Expenses
$2.31M
▲ 4.9% YoY
Operating Margin
0.8%
revenue minus expenses ÷ revenue
Employees
35
headcount as reported on filing
The Five-Year Picture
FY2019 — FY2023 · as filed
Revenue
$2.3M
▲ 1.9% / 5y
Expenses
$2.3M
▲ 15.5% / 5y
Total Assets
$4.4M
▲ 11.0% / 5y
Total Liabilities
$256K
▲ 240.4% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY19 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $2.3M | $2.2M | $2.2M | $2.3M | $2.3M | +1.9% |
| Expenses | $2.0M | $2.1M | $2.1M | $2.2M | $2.3M | +15.5% |
| Net surplus | $287K | $128K | $128K | $121K | $20K | -93.1% |
| Total assets | $3.9M | $4.1M | $4.1M | $4.2M | $4.4M | +11.0% |
| Total liabilities | $75K | $89K | $89K | $111K | $256K | +240.4% |
| Net assets | $3.9M | $4.0M | $4.0M | $4.1M | $4.1M | +6.5% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
MARK SWYGERT Golf Course Superintendent· 40h/wk | $114,362 | $4,568 |
ANNETTE CHEEKS BUSINESS MANAGER· 40h/wk | $61,231 | $2,442 |
+ 11 unpaid officers/directors as reported (ARNIE KILBURZ, CHAD MELDRUM, GREG PASCAL, +8 more)
Top contractors
FY23 · vendors paid $100k+ as reported
| Vendor | Service | Paid |
|---|---|---|
| Green Tee Golf Inc AUGUSTA, GA | Management services | $1,045,122 |
| Gillam & Associates Inc AIKEN, SC | Construction & renovation | $497,225 |
Revenue by activity
FY23 · dues, greens fees, dining, and other sources
| Line item | Amount |
|---|---|
| MEMBERSHIPS | $1,239,965 |
| GREEN FEES | $666,732 |
| CART RENTAL & STORAGE | $164,562 |
| TOURNAMENT PROCEEDS | $152,745 |
| MISCELLANEOUS PROGRAM | $20,226 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
—
end of year
Net land, buildings & equipment
$4.1M
book value, net of depreciation
Facility age
35%
accumulated depreciation ÷ cost — higher = older plant
Operating expenses
FY23 · Form 990, Part IX
| Insurance | $132,591 |
| Occupancy | $113,855 |
| Depreciation & depletion | $317,683 |
| Information technology | $10,839 |
| Office expenses | $314,519 |
| Other professional fees | $3,100 |
Retirement & benefit plans
DOL Form 5500 · plan sponsors
PALMETTO GOLF CLUB 401(K) PLAN
pension · 18 participants · $886K assets · FY2024
PFounded in 1989, Palmetto Golf Club reported $2.33M of revenue for FY23, at an operating margin of 0.8%. Revenue moved up 0.2% 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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