Civic Intelligence

Old Elm Club

EIN 36-1576910 • 501(c)7 • Highland Park, IL

Profile

Old elm club is organized to serve the social and recreational needs to its members through the operation of an eighteen hole championship golf course and its restaurant facilities.

800 Old Elm RoadHighland Park, IL 60035

n/A

Siviq Scores

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

Liabilities / Assets

24th percentile

0.16x

Higher debt load relative to assets than 24% of similar nonprofits.

501(c)7 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

14th percentile

0.13x

Higher debt load relative to revenue than 14% of similar nonprofits.

501(c)7 • $5M-$10M nonprofits • Source year 2024

Net Margin

65th percentile

9.1%

Higher net margin than 65% of similar nonprofits.

501(c)7 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

95th percentile

$304,326

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

$5M-$10M nonprofits • Source year 2024

Asset Growth

18th percentile

-3.2%

Faster asset growth than 18% of similar nonprofits.

501(c)7 • $5M-$10M nonprofits • Annualized from 2022 to 2024

Revenue Growth

65th percentile

9.7%

Faster revenue growth than 65% of similar nonprofits.

501(c)7 • $5M-$10M nonprofits • Annualized from 2022 to 2024

Assets

Up

$5,500,001

Up $5,846 (+0.1%) from 2023

Liabilities

Down

$907,403

Down $621,115 (-41%) from 2023

Net Assets

Up

$4,592,598

Up $626,961 (+16%) from 2023

Revenue

Up

$6,861,385

Up $1,103,103 (+19%) from 2023

Expenses

Up

$6,234,424

Up $156,430 (+2.6%) from 2023

Net Income

Up

$626,961

Up $946,673 (+296%) from 2023

Trend Graphs

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2014: $7,082,272Liabilities 2014: $643,388Net Assets 2014: $6,438,8842014Assets 2015: $6,658,684Liabilities 2015: $478,391Net Assets 2015: $6,180,2932015Assets 2016: $6,103,056Liabilities 2016: $400,550Net Assets 2016: $5,702,5062016Assets 2017: $5,930,651Liabilities 2017: $656,044Net Assets 2017: $5,274,6072017Assets 2018: $6,124,841Liabilities 2018: $486,955Net Assets 2018: $5,637,8862018Assets 2019: $5,861,332Liabilities 2019: $511,710Net Assets 2019: $5,349,6222019Assets 2020: $6,267,243Liabilities 2020: $651,982Net Assets 2020: $5,615,2612020Assets 2021: $6,113,518Liabilities 2021: $1,489,436Net Assets 2021: $4,624,0822021Assets 2022: $5,867,718Liabilities 2022: $1,582,369Net Assets 2022: $4,285,3492022Assets 2023: $5,494,155Liabilities 2023: $1,528,518Net Assets 2023: $3,965,6372023Assets 2024: $5,500,001Liabilities 2024: $907,403Net Assets 2024: $4,592,5982024

Highlighted filing

2024

Assets$5,500,001
Liabilities$907,403
Net Assets$4,592,598

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $4,561,392Expenses 2014: $3,705,129Net Income 2014: $856,2632014Revenue 2015: $3,725,628Expenses 2015: $3,984,219Net Income 2015: -$258,5912015Revenue 2016: $3,819,881Expenses 2016: $4,297,668Net Income 2016: -$477,7872016Revenue 2017: $3,953,570Expenses 2017: $4,381,469Net Income 2017: -$427,8992017Revenue 2018: $4,815,654Expenses 2018: $4,452,375Net Income 2018: $363,2792018Revenue 2019: $4,635,060Expenses 2019: $4,734,074Net Income 2019: -$99,0142019Revenue 2020: $4,757,225Expenses 2020: $4,491,587Net Income 2020: $265,6382020Revenue 2021: $4,601,829Expenses 2021: $5,593,008Net Income 2021: -$991,1792021Revenue 2022: $5,701,342Expenses 2022: $6,040,075Net Income 2022: -$338,7332022Revenue 2023: $5,758,282Expenses 2023: $6,077,994Net Income 2023: -$319,7122023Revenue 2024: $6,861,385Expenses 2024: $6,234,424Net Income 2024: $626,9612024

Highlighted filing

2024

Revenue$6,861,385
Expenses$6,234,424
Net Income$626,961

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.50$0.91$4.59$6.86$6.23$0.63
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.49$1.53$3.97$5.76$6.08$0.32
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.87$1.58$4.29$5.70$6.04$0.34
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.11$1.49$4.62$4.60$5.59$0.99
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.27$0.65$5.62$4.76$4.49$0.27
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.86$0.51$5.35$4.64$4.73$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.12$0.49$5.64$4.82$4.45$0.36
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.93$0.66$5.27$3.95$4.38$0.43
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.10$0.40$5.70$3.82$4.30$0.48
2015Detailed filing. Detailed filing data is available for this year.$6.66$0.48$6.18$3.73$3.98$0.26
2014Detailed filing. Detailed filing data is available for this year.$7.08$0.64$6.44$4.56$3.71$0.86
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 13, 2025
Return Version
2024v5.2
Gross Receipts
$7,423,998
Mission and Program Overview

Mission

Old elm club is organized to serve the social and recreational needs of its members through the operation of an eighteen hole championship golf course and its restaurant facilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,681,448$4,359,553▼ $321,895
Cash and Non-Interest-Bearing Accounts$200,874$634,568▲ $433,694
Inventories for Sale or Use$217,032$209,345▼ $7,687
Prepaid Expenses and Deferred Charges$129,127$135,265▲ $6,138
Accounts Receivable$120,449$116,122▼ $4,327
Total Assets$5,494,155$5,500,001▲ $5,846
Other Assets Total$145,225$45,148▼ $100,077
Liabilities
Accounts Payable and Accrued Expenses$707,022$467,305▼ $239,717
Unsecured Notes Loans Payable$494,496$321,431▼ $173,065
Other Liabilities$327,000$118,667▼ $208,333
Total Liabilities$1,528,518$907,403▼ $621,115
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,859,181$4,492,253▲ $633,072
Net Assets With Donor Restrictions$106,456$100,345▼ $6,111
Total Net Assets Fund Balance$3,965,637$4,592,598▲ $626,961
Total Liabilities and Net Assets / Fund Balance$5,494,155$5,500,001▲ $5,846

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$-1,577,569$14,179,203$12,601,634
Equipment$5,626,255-$5,626,255
Other Land Buildings$173,997-$173,997
Land$136,870-$136,870
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Curtis JamesSuperintendentFT$264,423$39,903$304,326
Bret LeonHead Golf ProFT$174,021$44,408$218,429
Jason MossHead Golf ProFT$136,131$67,068$203,199
Jim V FernandezControllerFT$150,300$23,372$173,672
Richard GarciaExecutive ChefFT$135,307$6,050$141,357

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
John Kevin MarionConsulting19475 N GRAYHAWK DR 2109, Scottsdale, AZ 85255$200,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,910,233
Investment Income
$604,103
Other Revenue
$347,049
Change in Net Assets
$626,961

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,861,385
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$520,158
Total Revenue per Audited Statements
$7,381,543
Total Revenue per Form 990
$6,861,385
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,374,867
Other Expenses$2,859,557
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$2,287,102
Depreciation Depletion---$913,558
Other Employee Benefits---$408,354
Current Officers, Directors, Trustees, and Key Employees---$305,093
Occupancy---$247,336
Payroll Taxes---$232,495
Pension Plan Contributions---$141,823
All Other Expenses---$138,502
Other Expenses---$135,647
Insurance---$101,963
Conferences and Meetings---$49,015
Information Technology---$46,874
Fees for Services Legal---$41,177
Fees for Services Other---$37,074
Office Expenses---$25,011
Interest---$8,094
Total Functional Expenses$0$0$0$6,234,424

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,754,582
Expenses per Audited Statements$6,234,424
Total Expenses per Form 990$6,234,424
Expenses Not Reported on Form 990$520,158
Expenses Not Reported on Financial Statements$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Compensation$118,667
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The club is organized as a not-for-profit corporation under illinois law, and as such it operates with multiple classes of members.

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

Resident, non-resident, and distinguished members vote annually to elect officers and directors.

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

Members have the right to ratify significant decisions made by the board.

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

The 990 is reviewed by both the treasurer and general manager prior to filing

Form 990, Part VI, Section B, Line 15

The salaries and wages of the general manager and key employees are reviewed and adjusted by the board of governors. The factors taken into consideration are past compensation, like private club salaries, compensation surveys, financial performance of the club and member satisfaction.

Form 990, Part VI, Section C, Line 19

A private member club is not required to make the governing documents, or financial statements available to the public. However, form 990 is available upon request.

Filing and Contact Details

Filer

Filer Name
Old Elm Club
EIN
36-1576910
Phone
8474326270
Address
800 OLD ELM ROAD, HIGHLAND PARK, IL 60035

Signing Officer

Name
Thomas P Fitzgerald
Title
President
Phone
8474326270
Signed
2025-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas P Fitzgerald
Formed
1913
Legal Domicile
Il
Voting Board Members
10
Independent Board Members
10
Employees
88
Volunteers
10

Preparer

Firm
Selden Fox Ltd
Address
ONE PARKVIEW PLAZA SUITE 710, OAKBROOK TERRACE, IL 60181
Preparer
Paul J Rozek
Phone
6309541400
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The club is exempt from federal income taxes under section 501(c)(7) of the internal revenue code. However, under this section, investment and nonmember income, as defined, are subject to federal taxes at corporate rates. As of december 31, 2024, the club's income tax returns for the years ended december 31, 2021, and subsequent are open to examination by the internal revenue service. Financial accounting standards board ("fasb") accounting standards codification ("asc") 740-10, "accounting for uncertainty in income taxes," requires that uncertain income tax positions be recorded in the financial statements at an amount that would most likely be realized assuming a review by the tax authorities. Management has assessed its income tax positions and believes any potential liability that might arise from a review by tax authorities would be immaterial to the financial statements as a whole.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold 520,158.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold 520,158.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Employee retention credit

Raw XML AppendixShowing 400 of 516 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/ActivityOrMissionDesc0OLD ELM CLUB IS ORGANIZED TO SERVE THE SOCIAL AND RECREATIONAL NEEDS OF ITS MEMBERS THROUGH THE OPERATION OF AN EIGHTEEN HOLE CHAMPIONSHIP GOLF COURSE AND ITS RESTAURANT FACILITIES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11SUPERINTENDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt12CONTROLLER
IRS990/Form990PartVIISectionAGrp/TitleTxt13HEAD GOLF PRO
IRS990/Form990PartVIISectionAGrp/TitleTxt14EXECUTIVE CHEF
IRS990/Form990PartVIISectionAGrp/TitleTxt15HEAD GOLF PRO
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IRS990/MissionDesc0OLD ELM CLUB IS ORGANIZED TO SERVE THE SOCIAL AND RECREATIONAL NEEDS OF ITS MEMBERS THROUGH THE OPERATION OF AN EIGHTEEN HOLE CHAMPIONSHIP GOLF COURSE AND ITS RESTAURANT FACILITIES.
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IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
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IRS990/OtherExpensesGrp/Desc1GOLF COURSE GROUNDS AND
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IRS990/OtherExpensesGrp/TotalAmt1235638
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IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt014179203
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IRS990ScheduleD/EquipmentGrp/BookValueAmt05626255
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0173997
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0118667
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED COMPENSATION
IRS990ScheduleD/OtherRevenueAmt0520158
IRS990ScheduleD/RevenueNotReportedAmt0520158
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt06861385
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CLUB IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE. HOWEVER, UNDER THIS SECTION, INVESTMENT AND NONMEMBER INCOME, AS DEFINED, ARE SUBJECT TO FEDERAL TAXES AT CORPORATE RATES. AS OF DECEMBER 31, 2024, THE CLUB'S INCOME TAX RETURNS FOR THE YEARS ENDED DECEMBER 31, 2021, AND SUBSEQUENT ARE OPEN TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") 740-10, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES," REQUIRES THAT UNCERTAIN INCOME TAX POSITIONS BE RECORDED IN THE FINANCIAL STATEMENTS AT AN AMOUNT THAT WOULD MOST LIKELY BE REALIZED ASSUMING A REVIEW BY THE TAX AUTHORITIES. MANAGEMENT HAS ASSESSED ITS INCOME TAX POSITIONS AND BELIEVES ANY POTENTIAL LIABILITY THAT MIGHT ARISE FROM A REVIEW BY TAX AUTHORITIES WOULD BE IMMATERIAL TO THE FINANCIAL STATEMENTS AS A WHOLE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1COST OF GOODS SOLD 520,158.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2COST OF GOODS SOLD 520,158.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3EMPLOYEE RETENTION CREDIT
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 4B - OTHER ADJUSTMENTS:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt20
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