Civic Intelligence

Shoreacres

990 • Fiscal year 2019 • EIN 36-1771080

Nov 01, 2018 to Oct 31, 2019 • Filed on Mar 09, 2020

PO Box 246Lake Bluff, IL 60044

(847) 234-1470

Siviq Scores

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

Liabilities / Assets

18th percentile

0.12x

Higher debt load relative to assets than 18% of similar nonprofits.

2019 filings • 501(c)7 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

26th percentile

0.36x

Higher debt load relative to revenue than 26% of similar nonprofits.

2019 filings • 501(c)7 • $10M-$25M nonprofits • Source year 2019

Net Margin

14th percentile

-8.6%

Higher net margin than 14% of similar nonprofits.

2019 filings • 501(c)7 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

70th percentile

$275,733

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 6.5% of source-year revenue.

2019 filings • 501(c)7 • $10M-$25M nonprofits • Source year 2019

Asset Growth

18th percentile

-3.2%

Faster asset growth than 18% of similar nonprofits.

2019 filings • 501(c)7 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

5th percentile

-22%

Faster revenue growth than 5% of similar nonprofits.

2019 filings • 501(c)7 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Down

$12,528,808

Down $414,360 (-3.2%) from 2018

Net Assets

Down

$11,011,371

Down $366,443 (-3.2%) from 2018

Liabilities

Down

$1,517,437

Down $47,917 (-3.1%) from 2018

Revenue

Down

$4,263,193

Down $1,168,803 (-22%) from 2018

Expenses

Down

$4,629,636

Down $940,944 (-17%) from 2018

Net Income

Down

-$366,443

Down $227,859 (-164%) from 2018

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2014: $10,326,087Liabilities 2014: $1,237,087Net Assets 2014: $9,089,0002014Assets 2015: $10,467,109Liabilities 2015: $1,297,043Net Assets 2015: $9,170,0662015Assets 2016: $12,686,356Liabilities 2016: $1,291,626Net Assets 2016: $11,394,7302016Assets 2017: $12,867,455Liabilities 2017: $1,351,057Net Assets 2017: $11,516,3982017Assets 2018: $12,943,168Liabilities 2018: $1,565,354Net Assets 2018: $11,377,8142018Assets 2019: $12,528,808Liabilities 2019: $1,517,437Net Assets 2019: $11,011,3712019Assets 2020: $12,108,416Liabilities 2020: $1,547,526Net Assets 2020: $10,560,8902020Assets 2021: $14,445,999Liabilities 2021: $4,457,014Net Assets 2021: $9,988,9852021Assets 2022: $14,682,046Liabilities 2022: $5,156,041Net Assets 2022: $9,526,0052022Assets 2023: $16,397,537Liabilities 2023: $4,672,213Net Assets 2023: $11,725,3242023Assets 2024: $16,401,358Liabilities 2024: $5,260,638Net Assets 2024: $11,140,7202024Assets 2025: $15,774,631Liabilities 2025: $5,238,130Net Assets 2025: $10,536,5012025

Highlighted filing

2019

Assets$12,528,808
Liabilities$1,517,437
Net Assets$11,011,371

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2014: $4,780,615Expenses 2014: $4,779,679Net Income 2014: $9362014Revenue 2015: $4,768,690Expenses 2015: $4,687,624Net Income 2015: $81,0662015Revenue 2016: $7,238,302Expenses 2016: $5,013,638Net Income 2016: $2,224,6642016Revenue 2017: $5,369,306Expenses 2017: $5,247,638Net Income 2017: $121,6682017Revenue 2018: $5,431,996Expenses 2018: $5,570,580Net Income 2018: -$138,5842018Revenue 2019: $4,263,193Expenses 2019: $4,629,636Net Income 2019: -$366,4432019Revenue 2020: $4,273,601Expenses 2020: $4,724,082Net Income 2020: -$450,4812020Revenue 2021: $4,784,602Expenses 2021: $5,356,507Net Income 2021: -$571,9052021Revenue 2022: $4,921,909Expenses 2022: $5,384,889Net Income 2022: -$462,9802022Revenue 2023: $8,135,988Expenses 2023: $5,936,669Net Income 2023: $2,199,3192023Revenue 2024: $6,402,964Expenses 2024: $6,987,568Net Income 2024: -$584,6042024Revenue 2025: $6,379,441Expenses 2025: $6,983,660Net Income 2025: -$604,2192025

Highlighted filing

2019

Revenue$4,263,193
Expenses$4,629,636
Net Income-$366,443
Jump To
Filing Snapshot
Filing Period
Nov 1, 2018 to Oct 31, 2019
Signed
Mar 9, 2020
Return Version
2018v3.1
Gross Receipts
$6,240,731
Mission and Program Overview

Mission

Operation of an eighteen hole golf course, restaurant and other recreational facilities for the enjoyment and social benefit of the club's membership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,380,128$9,965,756▼ $414,372
Accounts Receivable$1,045,294$1,250,022▲ $204,728
Cash and Non-Interest-Bearing Accounts$1,149,516$933,707▼ $215,809
Inventories for Sale or Use$300,114$272,227▼ $27,887
Prepaid Expenses and Deferred Charges$68,116$107,096▲ $38,980
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$12,943,168$12,528,808▼ $414,360
Other Assets Total-$0-
Liabilities
Deferred Revenue$820,631$832,506▲ $11,875
Accounts Payable and Accrued Expenses$744,723$612,519▼ $132,204
Other Liabilities-$72,412-
Total Liabilities$1,565,354$1,517,437▼ $47,917
Net Assets / Fund Balance
Unrestricted Net Assets$11,377,814$11,011,371▼ $366,443
Total Net Assets Fund Balance$11,377,814$11,011,371▼ $366,443
Total Liabilities and Net Assets / Fund Balance$12,943,168$12,528,808▼ $414,360

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,776,235$5,782,366$8,558,601
Other Land Buildings$5,202,854$2,201,469$7,404,323
Equipment$1,335,412$3,376,302$4,711,714
Land$651,255-$651,255
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Peter McdonaldGolf ProfessionalFT$242,805$32,928$275,733
Michael DruryClubhouse ManagerFT$168,117$53,080$221,197
Mark PettyjohnChefFT$135,217$23,221$158,438
Cynthia GrafControllerFT$117,748$37,529$155,277
Brian PalmerSuperintendentFT$122,610$17,240$139,850

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,193,386
Investment Income
$-6,595
Other Revenue
$76,402
Change in Net Assets
$-366,443

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,263,193
Revenue Not Reported on Form 990
$1,952,543
Total Revenue per Audited Statements
$6,215,736
Total Revenue per Form 990
$4,263,193
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,482,225
Salaries, Compensation, and Employee Benefits$2,147,411
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,190,296--$1,190,296
Depreciation Depletion$988,185--$988,185
Current Officers, Directors, Trustees, and Key Employees$503,057--$503,057
Other Employee Benefits$202,965--$202,965
Occupancy$187,435--$187,435
Fees for Services Other$168,196--$168,196
All Other Expenses$149,770--$149,770
Payroll Taxes$138,746--$138,746
Insurance$121,811--$121,811
Pension Plan Contributions$112,347--$112,347
Other Expenses$85,248--$85,248
Office Expenses$61,171--$61,171
Fees for Services Legal$61,026--$61,026
Conferences and Meetings$42,409--$42,409
Fees for Services Accounting$15,275--$15,275
Total Functional Expenses$4,629,636$0$0$4,629,636

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,582,179
Expenses per Audited Statements$4,629,636
Total Expenses per Form 990$4,629,636
Expenses Not Reported on Form 990$1,952,543
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease Payable$72,412
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
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
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, Line 6: Explanation of Classes of Members or Shareholder

Club is comprised of members in various membership categories

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

Regular members vote to elect four governors annually

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

The decisions of the governing board which are subject to approval by the members are changes to the by-laws.

Form 990, Part VI, Line 11B: Form 990 Review Process

The 990 is prepared by an independent accounting firm, reviewed by the controller, distributed to the board of governors and reviewed and signed by the club treasurer.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Board president, treasurer and committee chairperson determine the salary through regional comparison of like positions at comparable clubs, which are then reviewed annually.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Board president, treasurer and committee chairperson determine the salary through regional comparison of like positions at comparable clubs, which are then reviewed annually.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Shoreacres
EIN
36-1771080
Phone
8472341470
Address
PO BOX 246, LAKE BLUFF, IL 60044

Signing Officer

Name
Lloyd a Semple
Title
Treasurer
Signed
2020-03-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John R Keller
Formed
1916
Legal Domicile
Il
Voting Board Members
14
Independent Board Members
14
Employees
73
Volunteers
14

Preparer

Firm
PhilipRae & Associates CPAs
Address
564 S WASHINGTON STREET 200, NAPERVILLE, IL 60540
Preparer
John S Mastrangeli
Phone
6305053620
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The club evaluates all significant tax positions as required by accounting principles generally accepted in the united states of america. Management has evaluated the club's tax positions and concluded that the club has no uncertain tax positions that require adjustment to or disclosure in the financial statements to comply with the tax provision guidance for income taxes.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Cost of goods sold $1952543

Part XII, Line 2D: Other expenses and losses per audited F/S

Cost of goods sold $1952543

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