Civic Intelligence

The Lake Valhalla Club

990 • Fiscal year 2014 • EIN 22-6097065

Jan 01, 2014 to Dec 31, 2014 • Filed on May 12, 2015

Organization ProfileLAKEVALHALLACLUB.COM

View Organization Page

13 Vista RoadMontville, NJ 07045

(973) 334-3190

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

78th percentile

0.63x

Higher debt load relative to assets than 78% of similar nonprofits.

2014 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

71st percentile

1.07x

Higher debt load relative to revenue than 71% of similar nonprofits.

2014 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2014

Net Margin

75th percentile

13%

Higher net margin than 75% of similar nonprofits.

2014 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

88th percentile

$108,462

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2014 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2014

Asset Growth

58th percentile

1.7%

Faster asset growth than 58% of similar nonprofits.

2014 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

82nd percentile

12%

Faster revenue growth than 82% of similar nonprofits.

2014 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$3,645,307

Up $61,906 (+1.7%) from 2013

Net Assets

Up

$1,358,528

Up $273,274 (+25%) from 2013

Liabilities

Down

$2,286,779

Down $211,368 (-8.5%) from 2013

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin75th percentile

Revenue

Up

$2,144,539

Up $235,614 (+12%) from 2013

Expenses

Up

$1,856,565

Up $38,105 (+2.1%) from 2013

Net Income

Up

$287,974

Up $197,509 (+218%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $3,385,373Liabilities 2011: $2,339,989Net Assets 2011: $1,045,3842011Assets 2012: $3,385,579Liabilities 2012: $2,376,615Net Assets 2012: $1,008,9642012Assets 2013: $3,583,401Liabilities 2013: $2,498,147Net Assets 2013: $1,085,2542013Assets 2014: $3,645,307Liabilities 2014: $2,286,779Net Assets 2014: $1,358,5282014Assets 2015: $2,969,608Liabilities 2015: $1,367,798Net Assets 2015: $1,601,8102015Assets 2016: $3,179,928Liabilities 2016: $1,254,422Net Assets 2016: $1,925,5062016Assets 2017: $3,371,857Liabilities 2017: $1,137,731Net Assets 2017: $2,234,1262017Assets 2018: $3,467,921Liabilities 2018: $1,074,560Net Assets 2018: $2,393,3612018Assets 2019: $3,145,626Liabilities 2019: $849,223Net Assets 2019: $2,296,4032019Assets 2020: $3,097,316Liabilities 2020: $766,376Net Assets 2020: $2,330,9402020Assets 2021: $3,621,471Liabilities 2021: $813,976Net Assets 2021: $2,807,4952021Assets 2022: $3,677,487Liabilities 2022: $712,480Net Assets 2022: $2,965,0072022Assets 2023: $3,659,811Liabilities 2023: $628,018Net Assets 2023: $3,031,7932023Assets 2024: $3,561,881Liabilities 2024: $468,754Net Assets 2024: $3,093,1272024

Highlighted filing

2014

Assets$3,645,307
Liabilities$2,286,779
Net Assets$1,358,528
Open 2014 Filing

Operations Trend

Revenue Growth82nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $1,797,5302011Expenses 2012: $1,793,0672012Revenue 2013: $1,908,925Expenses 2013: $1,818,460Net Income 2013: $90,4652013Revenue 2014: $2,144,539Expenses 2014: $1,856,565Net Income 2014: $287,9742014Revenue 2015: $2,691,323Expenses 2015: $2,453,078Net Income 2015: $238,2452015Revenue 2016: $2,774,395Expenses 2016: $2,440,949Net Income 2016: $333,4462016Revenue 2017: $2,754,122Expenses 2017: $2,440,351Net Income 2017: $313,7712017Revenue 2018: $2,783,451Expenses 2018: $2,622,479Net Income 2018: $160,9722018Revenue 2019: $2,571,932Expenses 2019: $2,656,065Net Income 2019: -$84,1332019Revenue 2020: $2,123,014Expenses 2020: $2,085,401Net Income 2020: $37,6132020Revenue 2021: $2,742,895Expenses 2021: $2,260,191Net Income 2021: $482,7042021Revenue 2022: $3,316,051Expenses 2022: $3,148,639Net Income 2022: $167,4122022Revenue 2023: $3,087,237Expenses 2023: $3,009,351Net Income 2023: $77,8862023Revenue 2024: $3,090,192Expenses 2024: $3,021,508Net Income 2024: $68,6842024

Highlighted filing

2014

Revenue$2,144,539
Expenses$1,856,565
Net Income$287,974
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 12, 2015
Return Version
2014v5.0
Gross Receipts
$3,551,552
Mission and Program Overview

Mission

To provide recreation and social activities to members and their guests.

Lake valhalla club is a tennis and swim country club that provides recreational and social activities to members and their guests.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,083,680$2,158,951▲ $75,271
Rtn Earn Endowment Incm Other Fnds$904,874$1,163,448▲ $258,574
Accounts Receivable$922,628$913,836▼ $8,792
Savings and Temporary Cash Investments$278,775$281,277▲ $2,502
Cash and Non-Interest-Bearing Accounts$237,127$213,837▼ $23,290
Cap Stk Tr Prin Current Funds$180,380$195,080▲ $14,700
Inventories for Sale or Use$38,523$47,812▲ $9,289
Prepaid Expenses and Deferred Charges$22,668$29,594▲ $6,926
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Total Assets$3,583,401$3,645,307▲ $61,906
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,277,981$1,216,323▼ $61,658
Deferred Revenue$1,149,912$963,238▼ $186,674
Accounts Payable and Accrued Expenses$70,254$107,218▲ $36,964
Total Liabilities$2,498,147$2,286,779▼ $211,368
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,085,254$1,358,528▲ $273,274
Total Liabilities and Net Assets / Fund Balance$3,583,401$3,645,307▲ $61,906

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,564,908$1,759,015$3,323,923
Other Land Buildings$169,043$1,158,328$1,327,371
Land$425,000-$425,000
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lisa RedfernClub ManagerFT$108,462$108,462

Board Members and Trustees

NameTitle
Alan PuleoPresident
Joel OrrisVice President
Greg SlyfieldAt Large
Jerry GoldsteinAt Large
Joe GianforteAt Large
Kristine HowarRecording Secretary
Fran MareinissTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,489,587
Investment Income
$3,655
Other Revenue
$651,297
Change in Net Assets
$287,974
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,075,599
Salaries, Compensation, and Employee Benefits$780,966
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons---$478,770
Occupancy---$260,473
Payroll Taxes---$141,215
Depreciation Depletion---$113,357
Current Officers, Directors, Trustees, and Key Employees---$108,462
Insurance---$104,409
Interest---$84,918
Other Employee Benefits---$52,519
Other Expenses---$30,953
Fees for Services Legal---$14,740
Fees for Services Accounting---$13,884
Advertising---$8,886
Office Expenses---$6,049
Travel---$3,035
All Other Expenses---$1,381
Total Functional Expenses$0$0$0$1,856,565
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The club has several categories of membership available.”

Form 990, Part VI, Section A, Line 7A

“The club holds annual elections for vacant board of directors positions. All eligible members are permitted to vote in person or by proxy. Board of director postions have a term of up to six years.”

Form 990, Part VI, Section B, Line 11

“The return is reviewed by the treasurer on behalf of board prior to filing.”

Form 990, Part VI, Section B, Line 15A

“The club uses comparability data in determining the manager's compensation.”

Form 990, Part VI, Section C, Line 19

“The governing documents, conflict of interest policy, and financial statements are available to the public at the offices of the club.”

Filing and Contact Details

Filer

Filer Name
Lake Valhalla Club
EIN
22-6097065
Phone
9733343190
Address
13 VISTA ROAD, MONTVILLE, NJ 07045

Signing Officer

Name
Alan Puleo
Title
President
Phone
9733343190
Signed
2015-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alan Puleo
Formed
1930
Legal Domicile
Nj
Voting Board Members
7
Independent Board Members
7
Employees
157
Volunteers
7

Preparer

Firm
Hammond & Burns LLC
Address
155 WILLOWBROOK BLVD SUITE 430, WAYNE, NJ 07470-7033
Preparer
Neil E Burns CPA
Phone
9734920101
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Decrease in membership certificates -14,700.”

Raw XML Appendix336 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt7CLUB MANAGER
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CLUB HAS SEVERAL CATEGORIES OF MEMBERSHIP AVAILABLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CLUB HOLDS ANNUAL ELECTIONS FOR VACANT BOARD OF DIRECTORS POSITIONS. ALL ELIGIBLE MEMBERS ARE PERMITTED TO VOTE IN PERSON OR BY PROXY. BOARD OF DIRECTOR POSTIONS HAVE A TERM OF UP TO SIX YEARS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE RETURN IS REVIEWED BY THE TREASURER ON BEHALF OF BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CLUB USES COMPARABILITY DATA IN DETERMINING THE MANAGER'S COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC AT THE OFFICES OF THE CLUB.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DECREASE IN MEMBERSHIP CERTIFICATES -14,700.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03583401
IRS990/TotalAssetsEOYAmt03645307
IRS990/TotalAssetsGrp/BOYAmt03583401
IRS990/TotalAssetsGrp/EOYAmt03645307
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt0157
IRS990/TotalFunctionalExpensesGrp/TotalAmt01856565
IRS990/TotalGrossUBIAmt0356638
IRS990/TotalLiabilitiesBOYAmt02498147
IRS990/TotalLiabilitiesEOYAmt02286779
IRS990/TotalLiabilitiesGrp/BOYAmt02498147
IRS990/TotalLiabilitiesGrp/EOYAmt02286779
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01085254
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01358528
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt01489587
IRS990/TotalReportableCompFromOrgAmt0108462
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01787901
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02144539
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0356638
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03583401
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03645307
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt03035
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt013 VISTA ROAD
IRS990/USAddress/CityNm0MONTVILLE
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007045
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0LAKEVALHALLACLUB.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ALAN PULEO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09733343190
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAKE VALHALLA CLUB
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
ReturnHeader/Filer/EIN0226097065
ReturnHeader/Filer/PhoneNum09733343190
ReturnHeader/Filer/USAddress/AddressLine1Txt013 VISTA ROAD
ReturnHeader/Filer/USAddress/CityNm0MONTVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007045
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0461169726
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HAMMOND & BURNS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0155 WILLOWBROOK BLVD SUITE 430
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WAYNE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0074707033
ReturnHeader/PreparerPersonGrp/PhoneNum09734920101
ReturnHeader/PreparerPersonGrp/PreparationDt02015-05-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NEIL E BURNS CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02015-05-15T08:13:59-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,645,307
Liabilities
$2,286,779
Net assets
$1,358,528
Revenue
$2,144,539
Expenses
$1,856,565
Net income
$287,974
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.56$0.47$3.09$3.09$3.02$0.07
2023Summary only. Only limited summary data is available for this year.$3.66$0.63$3.03$3.09$3.01$0.08
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.68$0.71$2.97$3.32$3.15$0.17
2021Summary only. Only limited summary data is available for this year.$3.62$0.81$2.81$2.74$2.26$0.48
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.10$0.77$2.33$2.12$2.09$0.04
2019Summary only. Only limited summary data is available for this year.$3.15$0.85$2.30$2.57$2.66$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.47$1.07$2.39$2.78$2.62$0.16
2017Summary only. Only limited summary data is available for this year.$3.37$1.14$2.23$2.75$2.44$0.31
2016Summary only. Only limited summary data is available for this year.$3.18$1.25$1.93$2.77$2.44$0.33
2015Summary only. Only limited summary data is available for this year.$2.97$1.37$1.60$2.69$2.45$0.24
2014Detailed filing. Detailed filing data is available for this year.$3.65$2.29$1.36$2.14$1.86$0.29
2013Detailed filing. Detailed filing data is available for this year.$3.58$2.50$1.09$1.91$1.82$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.39$2.38$1.01$1.79
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.39$2.34$1.05$1.80