LAKE501(c)(7) · MEDIUMNAICS 713910EIN 75-0383870
Lakewood Country Club
Dallas, TX · founded 1935
12 filings on recordFY 2011–2023medium confidence
Compare to peers →FY23 Total Revenue
$16.22M
▲ 14.2% YoY
FY23 Total Expenses
$18.77M
▲ 12.1% YoY
Operating Margin
-15.7%
revenue minus expenses ÷ revenue
Employees
477
headcount as reported on filing
The Five-Year Picture
FY2018 — FY2023 · as filed
Revenue
$16.2M
▲ 16.3% / 5y
Expenses
$18.8M
▲ 31.6% / 5y
Total Assets
$40.2M
▲ 7.5% / 5y
Total Liabilities
$3.5M
▼ 69.6% / 5y
Year-on-year detail
from IRS Form 990
| Line | FY18 | FY20 | FY21 | FY22 | FY23 | Δ total |
|---|---|---|---|---|---|---|
| Revenue | $13.9M | $12.9M | $12.9M | $14.2M | $16.2M | +16.3% |
| Expenses | $14.3M | $15.2M | $15.2M | $16.8M | $18.8M | +31.6% |
| Net surplus | -$316K | -$2.3M | -$2.3M | -$2.5M | -$2.5M | +705.6% |
| Total assets | $37.3M | $36.5M | $36.5M | $36.0M | $40.2M | +7.5% |
| Total liabilities | $11.4M | $5.4M | $5.4M | $3.9M | $3.5M | -69.6% |
| Net assets | $25.9M | $31.1M | $31.1M | $32.0M | $36.7M | +41.5% |
Officer & staff compensation
FY23 · from IRS Form 990
| Officer · Employee | Reportable | Other |
|---|---|---|
RAYMOND M DE TULLIO General Manager· 40h/wk | $346,635 | $70,020 |
WILLIAM A KOVAL Executive Chef· 40h/wk | $296,731 | $40,160 |
CRAIG LIDDLE Head Golf Professional· 40h/wk | $203,455 | $33,354 |
MICHAEL R HISCOCKS CURRENT COMPTROLLER· 40h/wk | $195,838 | $28,893 |
MICHAEL D PLUMMER Golf Course Superintendent· 40h/wk | $178,915 | $16,649 |
JEFFREY MAYFIELD Food & Beverage Director· 40h/wk | $134,231 | $12,073 |
MACKENZIE TRIANA CLUBHOUSE MANAGER· 40h/wk | $133,000 | $24,500 |
JOSEPH DAVIS FACILITIES DIRECTOR· 40h/wk | $130,000 | $448 |
JULIA MONTENEGRO Human Resources Director· 40h/wk | $120,200 | $9,309 |
JAY BEWLEY Director of Racquets· 40h/wk | $119,115 | $33,790 |
PATRICIA HOLT Head Golf Professional· 40h/wk | $110,003 | $8,813 |
JOHANNA FEIN Membership Director· 40h/wk | $106,802 | $11,481 |
ALEXANDER CURNUTT Head Golf Professional· 40h/wk | $106,313 | $10,860 |
DWAYNE SMITH Sous Chef· 40h/wk | $103,800 | $10,789 |
+ 14 unpaid officers/directors as reported (DAN H NOBLE, DAVID RAMBIE, KEVIN B YOUNGBLOOD, +11 more)
Top contractors
FY23 · vendors paid $100k+ as reported
| Vendor | Service | Paid |
|---|---|---|
| Craig Liddle - Cal Golf Shop LLC DALLAS, TX | Management services | $939,931 |
| Jay Bewley - Lakewood Racquets DALLAS, TX | Pool & racquet | $783,211 |
| Laci Weeks - Sfc Fitness Health BOERNE, TX | PERSONAL TRAINER | $141,891 |
Revenue by activity
FY23 · dues, greens fees, dining, and other sources
| Line item | Amount |
|---|---|
| MEMBERSHIP DUES AND ASSESSMENT | $9,179,195 |
| SWIMMING, TENNIS AND GOLF | $1,774,701 |
Balance sheet & capital
FY23 · IRS Form 990, Part X
Mortgages & notes payable
$332K
▼ $776K paid down
Net land, buildings & equipment
$30.8M
book value, net of depreciation
Facility age
44%
accumulated depreciation ÷ cost — higher = older plant
Debt over time
Operating expenses
FY23 · Form 990, Part IX
| Insurance | $306,501 |
| Occupancy | $552,991 |
| Depreciation & depletion | $2,260,087 |
| Legal fees | $10,956 |
| Accounting fees | $39,175 |
| Other professional fees | $7,982 |
Retirement & benefit plans
DOL Form 5500 · plan sponsors
LAKEWOOD COUNTRY CLUB, INC. 401(K) PLAN
pension · 117 participants · $3.9M assets · FY2024
LAKEWOOD COUNTRY CLUB WELFARE BENEFIT PLAN
welfare · 160 participants · FY2024
LFounded in 1935, Lakewood Country Club reported $16.22M of revenue for FY23, at an operating margin of -15.7%. Revenue moved up 14.2% 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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