Civic Intelligence

Shoreacres

990 • Fiscal year 2024 • EIN 36-1771080

Nov 01, 2023 to Oct 31, 2024 • Filed on Mar 03, 2025

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

46th percentile

0.32x

Higher debt load relative to assets than 46% of similar nonprofits.

2024 filings • 501(c)7 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

64th percentile

0.82x

Higher debt load relative to revenue than 64% of similar nonprofits.

2024 filings • 501(c)7 • $10M-$25M nonprofits • Source year 2024

Net Margin

10th percentile

-9.1%

Higher net margin than 10% of similar nonprofits.

2024 filings • 501(c)7 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

83rd percentile

$335,447

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 5.2% of source-year revenue.

2024 filings • 501(c)7 • $10M-$25M nonprofits • Source year 2024

Asset Growth

23rd percentile

0.0%

Faster asset growth than 23% of similar nonprofits.

2024 filings • 501(c)7 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

3rd percentile

-21%

Faster revenue growth than 3% of similar nonprofits.

2024 filings • 501(c)7 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$16,401,358

Up $3,821 (+0.0%) from 2023

Net Assets

Down

$11,140,720

Down $584,604 (-5.0%) from 2023

Liabilities

Up

$5,260,638

Up $588,425 (+13%) from 2023

Revenue

Down

$6,402,964

Down $1,733,024 (-21%) from 2023

Expenses

Up

$6,987,568

Up $1,050,899 (+18%) from 2023

Net Income

Down

-$584,604

Down $2,783,923 (-127%) from 2023

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

2024

Assets$16,401,358
Liabilities$5,260,638
Net Assets$11,140,720

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

2024

Revenue$6,402,964
Expenses$6,987,568
Net Income-$584,604
Jump To
Filing Snapshot
Filing Period
Nov 1, 2023 to Oct 31, 2024
Signed
Mar 3, 2025
Return Version
2023v6.0
Gross Receipts
$8,313,197
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$11,995,990$13,439,526▲ $1,443,536
Accounts Receivable$1,560,972$1,563,811▲ $2,839
Cash and Non-Interest-Bearing Accounts$1,771,521$655,249▼ $1,116,272
Inventories for Sale or Use$613,096$337,999▼ $275,097
Prepaid Expenses and Deferred Charges$238,716$187,531▼ $51,185
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$16,397,537$16,401,358▲ $3,821
Other Assets Total$217,242$217,242→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,385,000$2,985,000▲ $600,000
Deferred Revenue$1,065,019$1,110,715▲ $45,696
Accounts Payable and Accrued Expenses$628,132$721,495▲ $93,363
Other Liabilities$594,062$443,428▼ $150,634
Total Liabilities$4,672,213$5,260,638▲ $588,425
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,725,324$11,140,720▼ $584,604
Total Net Assets Fund Balance$11,725,324$11,140,720▼ $584,604
Total Liabilities and Net Assets / Fund Balance$16,397,537$16,401,358▲ $3,821

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$6,869,727$4,054,041$10,923,768
Buildings$2,170,391$7,083,154$9,253,545
Equipment$1,222,050$4,066,354$5,288,404
Land$3,177,358-$3,177,358
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Aaron MccurdyGrounds SuperintendentFT$199,271$136,176$335,447
Michael DruryClubhouse ManagerFT$248,001$70,968$319,610
Ryan CarrollHead Golf ProFT$230,391$30,570$270,320
Cynthia GrafControllerFT$153,537$60,449$213,986
Josuelt RodriguezExecutive ChefFT$155,564$36,240$181,804

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,037,933
Investment Income
$42,157
Other Revenue
$322,874
Change in Net Assets
$-584,604

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,402,964
Revenue Not Reported on Form 990
$1,907,186
Total Revenue per Audited Statements
$8,310,150
Total Revenue per Form 990
$6,402,964
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,799,439
Salaries, Compensation, and Employee Benefits$3,188,129
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,794,191
Depreciation Depletion---$1,061,496
Current Officers, Directors, Trustees, and Key Employees---$773,756
All Other Expenses---$415,906
Other Employee Benefits---$257,610
Payroll Taxes---$224,333
Fees for Services Other---$191,598
Occupancy---$184,425
Insurance---$148,711
Pension Plan Contributions---$138,239
Other Expenses---$110,262
Interest---$104,568
Conferences and Meetings---$81,218
Fees for Services Legal---$34,588
Office Expenses---$34,387
Fees for Services Accounting---$17,775
Total Functional Expenses$0$0$0$6,987,568

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,894,754
Expenses per Audited Statements$6,987,568
Total Expenses per Form 990$6,987,568
Expenses Not Reported on Form 990$1,907,186
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
Finance Lease Payable$443,428
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

Club is comprised of members in various membership categories

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

Regular members vote to elect four governors annually

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

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

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

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, Section B, Line 15A

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, Section B, Line 15B

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, Section C, Line 19

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
Andrew K Hick
Title
Treasurer
Signed
2025-03-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Connelly
Formed
1916
Legal Domicile
Il
Voting Board Members
15
Independent Board Members
15
Employees
117
Volunteers
15

Preparer

Firm
Midwest Advisors
Address
564 Washington Street, Naperville, IL 60540
Preparer
Matthew Lohrenz
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 $1907186

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

Cost of goods sold $1907186

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IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
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