Civic Intelligence

The Olde Forest Racquet Club Inc

EIN 23-7221475 • 501(c)7 • Elon, NC

Profile

To provide recreational activities for members and their guests.

200 Pinedale DriveElon, NC 27244

www.oldeforest.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

68th percentile

0.36x

Higher debt load relative to assets than 68% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

65th percentile

0.53x

Higher debt load relative to revenue than 65% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Source year 2024

Net Margin

67th percentile

12%

Higher net margin than 67% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

80th percentile

$0

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)7 • $1M-$5M nonprofits • Source year 2024

Asset Growth

46th percentile

1.3%

Faster asset growth than 46% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

34th percentile

0.9%

Faster revenue growth than 34% of similar nonprofits.

501(c)7 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$1,330,375

Up $17,690 (+1.3%) from 2023

Liabilities

Down

$473,022

Down $89,997 (-16%) from 2023

Net Assets

Up

$857,353

Up $107,687 (+14%) from 2023

Operations
Liabilities / Revenue65th percentileNet Margin67th percentile

Revenue

Up

$890,704

Up $7,587 (+0.9%) from 2023

Expenses

Up

$780,228

Up $5,484 (+0.7%) from 2023

Net Income

Up

$110,476

Up $2,103 (+1.9%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth46th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2013: $1,265,206Liabilities 2013: $502,636Net Assets 2013: $762,5702013Assets 2016: $1,284,142Liabilities 2016: $566,415Net Assets 2016: $717,7272016Assets 2017: $1,265,077Liabilities 2017: $535,752Net Assets 2017: $729,3252017Assets 2018: $1,230,655Liabilities 2018: $491,849Net Assets 2018: $738,8062018Assets 2019: $1,454,841Liabilities 2019: $744,509Net Assets 2019: $710,3322019Assets 2020: $1,326,104Liabilities 2020: $691,201Net Assets 2020: $634,9032020Assets 2021: $1,255,686Liabilities 2021: $686,948Net Assets 2021: $568,7382021Assets 2022: $1,256,002Liabilities 2022: $614,709Net Assets 2022: $641,2932022Assets 2023: $1,312,685Liabilities 2023: $563,019Net Assets 2023: $749,6662023Assets 2024: $1,330,375Liabilities 2024: $473,022Net Assets 2024: $857,3532024

Highlighted filing

2024

Assets$1,330,375
Liabilities$473,022
Net Assets$857,353
Open 2024 Filing

Operations Trend

Revenue Growth34th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2013: $536,8362013Revenue 2016: $561,066Expenses 2016: $570,513Net Income 2016: -$9,4472016Revenue 2017: $577,509Expenses 2017: $565,910Net Income 2017: $11,5992017Revenue 2018: $573,579Expenses 2018: $563,696Net Income 2018: $9,8832018Revenue 2019: $594,394Expenses 2019: $621,768Net Income 2019: -$27,3742019Revenue 2020: $568,870Expenses 2020: $643,399Net Income 2020: -$74,5292020Revenue 2021: $626,563Expenses 2021: $692,728Net Income 2021: -$66,1652021Revenue 2022: $790,107Expenses 2022: $717,552Net Income 2022: $72,5552022Revenue 2023: $883,117Expenses 2023: $774,744Net Income 2023: $108,3732023Revenue 2024: $890,704Expenses 2024: $780,228Net Income 2024: $110,4762024

Highlighted filing

2024

Revenue$890,704
Expenses$780,228
Net Income$110,476
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,330,375
Liabilities
$473,022
Net assets
$857,353
Revenue
$890,704
Expenses
$780,228
Net income
$110,476
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.33$0.47$0.86$0.89$0.78$0.11
2023Detailed filing. Detailed filing data is available for this year.$1.31$0.56$0.75$0.88$0.77$0.11
2022Detailed filing. Detailed filing data is available for this year.$1.26$0.61$0.64$0.79$0.72$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.26$0.69$0.57$0.63$0.69$0.07
2020Detailed filing. Detailed filing data is available for this year.$1.33$0.69$0.63$0.57$0.64$0.07
2019Detailed filing. Detailed filing data is available for this year.$1.45$0.74$0.71$0.59$0.62$0.03
2018Detailed filing. Detailed filing data is available for this year.$1.23$0.49$0.74$0.57$0.56$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.27$0.54$0.73$0.58$0.57$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.28$0.57$0.72$0.56$0.57$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.27$0.50$0.76$0.54
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Feb 5, 2025
Return Version
2023v6.0
Gross Receipts
$892,036
Mission and Program Overview

Mission

To provide recreational activities for members and their guests.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$906,302$1,032,789▲ $126,487
Savings and Temporary Cash Investments$357,522$252,399▼ $105,123
Cash and Non-Interest-Bearing Accounts$31,235$24,402▼ $6,833
Prepaid Expenses and Deferred Charges$10,341$13,527▲ $3,186
Accounts Receivable$7,285$7,258▼ $27
Total Assets$1,312,685$1,330,375▲ $17,690
Liabilities
Mortgage Notes Payable Secured by Investment Property$471,017$402,436▼ $68,581
Deferred Revenue$59,710$41,372▼ $18,338
Accounts Payable and Accrued Expenses$32,292$28,752▼ $3,540
Other Liabilities-$462-
Total Liabilities$563,019$473,022▼ $89,997
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$749,666$857,353▲ $107,687
Total Net Assets Fund Balance$749,666$857,353▲ $107,687
Total Liabilities and Net Assets / Fund Balance$1,312,685$1,330,375▲ $17,690

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$541,646$836,633$1,378,279
Other Land Buildings$392,559$729,897$1,122,456
Equipment$43,578$122,084$165,662
Land$55,006-$55,006
Compensation and Service Providers
Top Officer Pay80th percentile

Board Members and Trustees

NameTitle
Alison UptonPresident
Shannon Marshall-hughesVice President
Diane SmithDirector
Julie McphersonDirector
Nellie AngyalDirector
Robert DoveDirector
Woody PeltonDirector
Paul TaplerSecretary
Kenny WinterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$764,354
Program Service Revenue
$112,804
Investment Income
$13,546
Other Revenue
$0
Change in Net Assets
$110,476
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$408,253
Other Expenses$371,975
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$377,864
Occupancy---$152,011
Depreciation Depletion---$71,833
All Other Expenses---$34,434
Insurance---$30,585
Payroll Taxes---$30,389
Interest---$16,620
Other Expenses---$8,902
Office Expenses---$7,805
Fees for Services Accounting---$7,350
Advertising---$4,873
Total Functional Expenses$0$0$0$780,228
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
Yes
Audit committee
No
Business relationship with 35% controlled entity
No
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
No
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 provides activities to dues paying members.”

Form 990, Part VI, Section B, Line 11B

“The 990 is available upon request.”

Form 990, Part VI, Section C, Line 18

“The organization's documents are available upon request to members but not to the general public.”

Form 990, Part VI, Section C, Line 19

“The organization's documents are available upon request to members but not to the general public.”

Filing and Contact Details

Filer

Filer Name
The Olde Forest Racquet Club Inc
EIN
23-7221475
Phone
3364497121
Address
200 PINEDALE DRIVE, ELON, NC 27244

Signing Officer

Name
Kenny Winter
Title
Treasurer
Phone
3364497121
Signed
2025-02-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alison Upton
Formed
1972
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
75
Volunteers
70

Preparer

Firm
Gilliam Bell Moser Llp
Address
POST OFFICE BOX 621, BURLINGTON, NC 27216-0621
Preparer
Glenn S Van Fleet
Phone
3362276283
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Accrued ubti taxes -2,789.”

Form 990, Part XI, Line 9

“The club records revenue for investment income, interest income and net income from non-member services. This revenue is considered unrelated business income. For the years ended september 30, 2024 and 2023, the club was liable for federal income tax of $2,914 and $2,789, respectively. The internal revenue service has determined that the club is not a private foundation. Federal income tax was not accrued for year ended september 30, 2023. Net assets were adjusted to agree to financial statements. Income tax was accrued for year end september 30, 2024 and will be for future years as applicable.”

Financial Statement Notes

Form 990, Schedule D, Part X

“The club records revenue for investment income, interest income and net income from non-member services. This revenue is considered unrelated business income. For the years ended september 30, 2024 and 2023, the club was liable for federal income tax of $2,914 and $2,789, respectively. The internal revenue service has determined that the club is not a private foundation.”

Raw XML Appendix368 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/PYTotalExpensesAmt0774744
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0883117
IRS990/ReconcilationRevenueExpnssAmt0110476
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0357522
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0252399
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0541646
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0836633
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01378279
IRS990ScheduleD/EquipmentGrp/BookValueAmt043578
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0122084
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0165662
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt0462
IRS990ScheduleD/LandGrp/BookValueAmt055006
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt055006
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0392559
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0729897
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01122456
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CLUB RECORDS REVENUE FOR INVESTMENT INCOME, INTEREST INCOME AND NET INCOME FROM NON-MEMBER SERVICES. THIS REVENUE IS CONSIDERED UNRELATED BUSINESS INCOME. FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023, THE CLUB WAS LIABLE FOR FEDERAL INCOME TAX OF $2,914 AND $2,789, RESPECTIVELY. THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE CLUB IS NOT A PRIVATE FOUNDATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE D, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01032789
IRS990ScheduleD/TotalLiabilityAmt0462
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CLUB PROVIDES ACTIVITIES TO DUES PAYING MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S DOCUMENTS ARE AVAILABLE UPON REQUEST TO MEMBERS BUT NOT TO THE GENERAL PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S DOCUMENTS ARE AVAILABLE UPON REQUEST TO MEMBERS BUT NOT TO THE GENERAL PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ACCRUED UBTI TAXES -2,789.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CLUB RECORDS REVENUE FOR INVESTMENT INCOME, INTEREST INCOME AND NET INCOME FROM NON-MEMBER SERVICES. THIS REVENUE IS CONSIDERED UNRELATED BUSINESS INCOME. FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023, THE CLUB WAS LIABLE FOR FEDERAL INCOME TAX OF $2,914 AND $2,789, RESPECTIVELY. THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE CLUB IS NOT A PRIVATE FOUNDATION. FEDERAL INCOME TAX WAS NOT ACCRUED FOR YEAR ENDED SEPTEMBER 30, 2023. NET ASSETS WERE ADJUSTED TO AGREE TO FINANCIAL STATEMENTS. INCOME TAX WAS ACCRUED FOR YEAR END SEPTEMBER 30, 2024 AND WILL BE FOR FUTURE YEARS AS APPLICABLE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01312685
IRS990/TotalAssetsEOYAmt01330375
IRS990/TotalAssetsGrp/BOYAmt01312685
IRS990/TotalAssetsGrp/EOYAmt01330375
IRS990/TotalCompGreaterThan150KInd00
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IRS990/TotalEmployeeCnt075
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IRS990/TotalLiabilitiesBOYAmt0563019
IRS990/TotalLiabilitiesEOYAmt0473022
IRS990/TotalLiabilitiesGrp/BOYAmt0563019
IRS990/TotalLiabilitiesGrp/EOYAmt0473022
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0749666
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0857353
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt033772
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt038190
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt04418
IRS990/TotalProgramServiceRevenueAmt0112804
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt090051
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0890704
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt036299
IRS990/TotalVolunteersCnt070
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01312685
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01330375
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0200 PINEDALE DRIVE
IRS990/USAddress/CityNm0ELON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027244
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.OLDEFOREST.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KENNY WINTER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03364497121
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE OLDE FOREST RACQUET CLUB INC
ReturnHeader/Filer/BusinessNameControlTxt0OLDE
ReturnHeader/Filer/EIN0237221475
ReturnHeader/Filer/PhoneNum03364497121
ReturnHeader/Filer/USAddress/AddressLine1Txt0200 PINEDALE DRIVE
ReturnHeader/Filer/USAddress/CityNm0ELON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027244
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0560587953
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GILLIAM BELL MOSER LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0POST OFFICE BOX 621
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BURLINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0272160621
ReturnHeader/PreparerPersonGrp/PhoneNum03362276283
ReturnHeader/PreparerPersonGrp/PreparationDt02025-02-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GLENN S VAN FLEET
ReturnHeader/ReturnTs02025-02-07T09:18:53-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-10-01
ReturnHeader/TaxPeriodEndDt02024-09-30
ReturnHeader/TaxYr02023

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