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Data from public IRS Form 990 · ProPublica Nonprofit Explorer

HIWF501(c)(7) · MEDIUMNAICS 713910EIN 59-0818061

Hole In The Wall Golf Club Inc Frank Road

Naples, FL · founded 1960

13 filings on recordFY 2011–2023medium confidence

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FY23 Total Revenue

$8.23M

▲ 22.8% YoY

FY23 Total Expenses

$6.45M

▲ 10.6% YoY

Operating Margin

21.6%

revenue minus expenses ÷ revenue

Employees

headcount as reported on filing

The Five-Year Picture

FY2019 — FY2023 · as filed

Revenue

$8.2M

▲ 27.7% / 5y

Expenses

$6.4M

▲ 13.8% / 5y

Total Assets

$21.7M

▲ 23.9% / 5y

Total Liabilities

$4.0M

▲ 29.2% / 5y

Year-on-year detail

from IRS Form 990

Line	FY19	FY20	FY21	FY22	FY23	Δ total
Revenue	$6.4M	$6.1M	$6.1M	$6.7M	$8.2M	+27.7%
Expenses	$5.7M	$6.1M	$6.1M	$5.8M	$6.4M	+13.8%
Net surplus	$777K	-$83K	-$83K	$874K	$1.8M	+129.3%
Total assets	$17.5M	$18.5M	$18.5M	$19.6M	$21.7M	+23.9%
Total liabilities	$3.1M	$3.4M	$3.4M	$3.7M	$4.0M	+29.2%
Net assets	$14.5M	$15.1M	$15.1M	$15.9M	$17.8M	+22.8%

Officer & staff compensation

FY23 · from IRS Form 990

Officer · Employee	Reportable	Other
NICHOLAS SABATINO Golf Course Superintendent· 40h/wk	$225,169	$17,637
JONATHAN BUDDENHAGEN Head Golf Professional· 40h/wk	$179,610	$13,761
DAVID WHITE Chief Financial Officer· 40h/wk	$164,961	$15,229
BRUCE COLYER HEAD CHEF/CLUBHOUSE MANAGE· 40h/wk	$123,469	$29,598

+ 14 unpaid officers/directors as reported (CHRIS CAMPBELL, COLLEEN ARNOLD, FRED SCHULTE, +11 more)

Top contractors

FY23 · vendors paid $100k+ as reported

Vendor	Service	Paid
Jon Budd Golf LLC NAPLES, FL	Management services	$437,031

Revenue by activity

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

Line item	Amount
MEMBERSHIP DUES	$4,231,399
GREENS & CART FEES	$816,703

Balance sheet & capital

FY23 · IRS Form 990, Part X

Mortgages & notes payable

—

end of year

Net land, buildings & equipment

$12.8M

book value, net of depreciation

Facility age

54%

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	$204,294
Depreciation & depletion	$1,504,128
Information technology	$47,196
Office expenses	$27,664
Accounting fees	$25,660

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

HOLE-IN-THE-WALL GOLF CLUB, INC. 401K PLAN

pension · 42 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.

HFounded in 1960, Hole In The Wall Golf Club Inc Frank Road reported $8.23M of revenue for FY23, at an operating margin of 21.6%. Revenue moved up 22.8% 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 Sat Sep 30 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

▸ Form 990, FY2022 · period ending Fri Sep 30 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

▸ Form 990, FY2021 · period ending Thu Sep 30 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

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