Civic Intelligence

Inverness Recreation Club Inc

EIN 52-0955920 • 501(c)7 • Bethesda, MD

Profile

An association of area homeowners for the purpose of providing recreation and social activities.

PO Box 34285Bethesda, MD 20827

invernessrecreationclub.org

Siviq Scores

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

Liabilities / Assets

97th percentile

1.14x

Higher debt load relative to assets than 97% of similar nonprofits.

501(c)7 • <$500k nonprofits • Source year 2025

Liabilities / Revenue

95th percentile

1.09x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)7 • <$500k nonprofits • Source year 2025

Net Margin

28th percentile

-6.4%

Higher net margin than 28% of similar nonprofits.

501(c)7 • <$500k nonprofits • Source year 2025

Top Officer Pay

94th percentile

$0

Higher top officer pay than 94% of similar nonprofits.

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

501(c)7 • <$500k nonprofits • Source year 2025

Asset Growth

30th percentile

-8.9%

Faster asset growth than 30% of similar nonprofits.

501(c)7 • <$500k nonprofits • Annualized from 2024 to 2025

Revenue Growth

19th percentile

-21%

Faster revenue growth than 19% of similar nonprofits.

501(c)7 • <$500k nonprofits • Annualized from 2024 to 2025

Assets

Down

$390,428

Down $29,883 (-7.1%) from 2023

Liabilities

Down

$416,689

Down $21,918 (-5.0%) from 2023

Net Assets

Down

-$26,261

Down $7,965 (-44%) from 2023

Revenue

Down

$475,737

Down $26,097 (-5.2%) from 2023

Expenses

Up

$483,702

Up $53,262 (+12%) from 2023

Net Income

Down

-$7,965

Down $79,359 (-111%) from 2023

Trend Graphs

Balance Sheet Trend

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

$600K$400K$200K$0-$200KAssets 2011: $567,021Liabilities 2011: $474,951Net Assets 2011: $92,0702011Assets 2012: $546,329Liabilities 2012: $461,216Net Assets 2012: $85,1132012Assets 2013: $510,165Liabilities 2013: $442,283Net Assets 2013: $67,8822013Assets 2014: $467,027Liabilities 2014: $428,886Net Assets 2014: $38,1412014Assets 2015: $462,639Liabilities 2015: $440,233Net Assets 2015: $22,4062015Assets 2016: $420,324Liabilities 2016: $405,281Net Assets 2016: $15,0432016Assets 2017: $449,318Liabilities 2017: $435,337Net Assets 2017: $13,9812017Assets 2018: $518,096Liabilities 2018: $511,006Net Assets 2018: $7,0902018Assets 2019: $392,426Liabilities 2019: $424,933Net Assets 2019: -$32,5072019Assets 2020: $396,162Liabilities 2020: $518,071Net Assets 2020: -$121,9092020Assets 2021: $373,346Liabilities 2021: $500,168Net Assets 2021: -$126,8222021Assets 2022: $411,654Liabilities 2022: $500,696Net Assets 2022: -$89,0422022Assets 2023: $420,311Liabilities 2023: $438,607Net Assets 2023: -$18,2962023Assets 2024: $390,428Liabilities 2024: $416,689Net Assets 2024: -$26,2612024

Highlighted filing

2024

Assets$390,428
Liabilities$416,689
Net Assets-$26,261

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2011: $197,436Expenses 2011: $196,364Net Income 2011: $1,0722011Revenue 2012: $202,633Expenses 2012: $209,590Net Income 2012: -$6,9572012Revenue 2013: $197,170Expenses 2013: $214,401Net Income 2013: -$17,2312013Revenue 2014: $200,377Expenses 2014: $221,963Net Income 2014: -$21,5862014Revenue 2015: $220,527Expenses 2015: $236,262Net Income 2015: -$15,7352015Revenue 2016: $228,299Expenses 2016: $235,662Net Income 2016: -$7,3632016Revenue 2017: $238,540Expenses 2017: $239,602Net Income 2017: -$1,0622017Revenue 2018: $225,459Expenses 2018: $232,350Net Income 2018: -$6,8912018Revenue 2019: $209,436Expenses 2019: $249,033Net Income 2019: -$39,5972019Revenue 2020: $101,703Expenses 2020: $191,105Net Income 2020: -$89,4022020Revenue 2021: $234,889Expenses 2021: $239,802Net Income 2021: -$4,9132021Revenue 2022: $317,690Expenses 2022: $279,910Net Income 2022: $37,7802022Revenue 2023: $501,834Expenses 2023: $430,440Net Income 2023: $71,3942023Revenue 2024: $475,737Expenses 2024: $483,702Net Income 2024: -$7,9652024

Highlighted filing

2024

Revenue$475,737
Expenses$483,702
Net Income-$7,965

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.90$4.17$0.26$4.76$4.84$0.08
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.20$4.39$0.18$5.02$4.30$0.71
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.12$5.01$0.89$3.18$2.80$0.38
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.73$5.00$1.27$2.35$2.40$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.96$5.18$1.22$1.02$1.91$0.89
2019Summary only. Only limited summary data is available for this year.$3.92$4.25$0.33$2.09$2.49$0.40
2018Summary only. Only limited summary data is available for this year.$5.18$5.11$0.07$2.25$2.32$0.07
2017Summary only. Only limited summary data is available for this year.$4.49$4.35$0.14$2.39$2.40$0.01
2016Summary only. Only limited summary data is available for this year.$4.20$4.05$0.15$2.28$2.36$0.07
2015Summary only. Only limited summary data is available for this year.$4.63$4.40$0.22$2.21$2.36$0.16
2014Summary only. Only limited summary data is available for this year.$4.67$4.29$0.38$2.00$2.22$0.22
2013Summary only. Only limited summary data is available for this year.$5.10$4.42$0.68$1.97$2.14$0.17
2012Summary only. Only limited summary data is available for this year.$5.46$4.61$0.85$2.03$2.10$0.07
2011Summary only. Only limited summary data is available for this year.$5.67$4.75$0.92$1.97$1.96$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Feb 15, 2026
Return Version
2023v6.0
Gross Receipts
$484,760
Mission and Program Overview

Mission

An association of area homeowners for the purpose of providing recreation and social activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$318,198$317,028▼ $1,170
Cash and Non-Interest-Bearing Accounts$102,113$71,487▼ $30,626
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$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-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$420,311$390,428▼ $29,883
Other Assets Total-$1,913-
Liabilities
Mortgage Notes Payable Secured by Investment Property$385,939$375,300▼ $10,639
Other Liabilities$16,746$16,245▼ $501
Accounts Payable and Accrued Expenses$16,522$16,144▼ $378
Deferred Revenue$19,400$9,000▼ $10,400
Total Liabilities$438,607$416,689▼ $21,918
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-18,296$-26,261▼ $7,965
Total Net Assets Fund Balance$-18,296$-26,261▼ $7,965
Total Liabilities and Net Assets / Fund Balance$420,311$390,428▼ $29,883

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$317,028$963,960$1,280,988
Compensation and Service Providers

Board Members and Trustees

NameTitle
Josh DenneyPresident
John SorrentiVice President
Aruni LiyanageMember
Drew PalisanMember
Jay PearsonMember
Mark KilnerMember
Ariz ArajiSecretary
Michael SpechtTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
American PoolPool Management9305 GERWIG LANE SUITE E, Columbia, MD 21046$173,648
Revenue and Support

Revenue Composition

Contributions and Grants
$414,244
Program Service Revenue
$62,116
Investment Income
$0
Other Revenue
$-623
All Other Contributions
$1,347
Change in Net Assets
$-7,965
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$483,702
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management---$173,648
Depreciation Depletion---$43,591
All Other Expenses---$38,282
Interest---$20,459
Other Expenses---$15,785
Insurance---$9,160
Fees for Services Accounting---$4,509
Advertising---$3,762
Office Expenses---$2,044
Total Functional Expenses$0$0$0$483,702
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
Membership Certificates$16,145
Security Deposits$100
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
No
Backup withholding compliance
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
Yes
Management duties delegated
Yes

Governance Explanations

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

No review was or will be conducted.

Form 990, Part VI, Section C, Line 19

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Inverness Recreation Club Inc
EIN
52-0955920
Phone
3019838813
Address
PO BOX 34285, BETHESDA, MD 20827

Signing Officer

Name
Michael Specht
Title
Treasurer
Signed
2026-02-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael D Specht
Formed
1971
Legal Domicile
Md
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
50

Preparer

Firm
Strauss & Associates PA
Address
9 Park Center Court Suite 300, Owings Mills, MD 21117
Preparer
Michael a Strauss
Phone
4103631011
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The treasurer of the club reviews the form 990 before the tax return is filed.

Pt VI, Line 3

The club uses the services of a management company to manage the daily operations of the swim club.

Pt VI, Line 6

The club has members that pay annual membership dues to use the club facilities.

Pt VI, Line 7A

The club has members who may elect members of the governing board.

Pt VI, Line 7B

Certain decisions of the governing body are subject to approval by the members.

Raw XML Appendix382 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/OtherAssetsTotalGrp/EOYAmt01913
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0UTILITIES
IRS990/OtherExpensesGrp/Desc1SWIM TEAM
IRS990/OtherExpensesGrp/Desc2REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc3GROUNDS AND LANDSCAPING
IRS990/OtherExpensesGrp/TotalAmt075878
IRS990/OtherExpensesGrp/TotalAmt158143
IRS990/OtherExpensesGrp/TotalAmt238441
IRS990/OtherExpensesGrp/TotalAmt315785
IRS990/OtherLiabilitiesGrp/BOYAmt016746
IRS990/OtherLiabilitiesGrp/EOYAmt016245
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0MICHAEL D SPECHT
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/Desc0GUEST FEES
IRS990/ProgramServiceRevenueGrp/Desc1POOL PARTIES
IRS990/ProgramServiceRevenueGrp/Desc2SWIM TEAM DUES
IRS990/ProgramServiceRevenueGrp/Desc3VENDING MACHINE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt09125
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13975
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt248954
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt362
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt09125
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt13975
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt248954
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt362
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0435508
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0430440
IRS990/PYOtherRevenueAmt08900
IRS990/PYProgramServiceRevenueAmt057426
IRS990/PYRevenuesLessExpensesAmt071394
IRS990/PYTotalExpensesAmt0430440
IRS990/PYTotalRevenueAmt0501834
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-7965
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0-623
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0317028
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0963960
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01280988
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt016145
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1100
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERSHIP CERTIFICATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0317028
IRS990ScheduleD/TotalLiabilityAmt016245
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE TREASURER OF THE CLUB REVIEWS THE FORM 990 BEFORE THE TAX RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CLUB USES THE SERVICES OF A MANAGEMENT COMPANY TO MANAGE THE DAILY OPERATIONS OF THE SWIM CLUB.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CLUB HAS MEMBERS THAT PAY ANNUAL MEMBERSHIP DUES TO USE THE CLUB FACILITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CLUB HAS MEMBERS WHO MAY ELECT MEMBERS OF THE GOVERNING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PT VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PT VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PT VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PT VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6PT VI, LINE 7B
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0420311
IRS990/TotalAssetsEOYAmt0390428
IRS990/TotalAssetsGrp/BOYAmt0420311
IRS990/TotalAssetsGrp/EOYAmt0390428
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0414244
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0483702
IRS990/TotalGrossUBIAmt0-623
IRS990/TotalLiabilitiesBOYAmt0438607
IRS990/TotalLiabilitiesEOYAmt0416689
IRS990/TotalLiabilitiesGrp/BOYAmt0438607
IRS990/TotalLiabilitiesGrp/EOYAmt0416689
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-18296
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-26261
IRS990/TotalProgramServiceRevenueAmt062116
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt062116
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0475737
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0-623
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0420311
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0390428
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.invernessrecreationclub.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL SPECHT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02026-02-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INVERNESS RECREATION CLUB INC
ReturnHeader/Filer/BusinessNameControlTxt0INVE
ReturnHeader/Filer/EIN0520955920
ReturnHeader/Filer/PhoneNum03019838813
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 34285
ReturnHeader/Filer/USAddress/CityNm0BETHESDA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd020827
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0521488983
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Strauss & Associates PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09 Park Center Court Suite 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Owings Mills
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021117
ReturnHeader/PreparerPersonGrp/PhoneNum04103631011
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL A STRAUSS
ReturnHeader/ReturnTs02026-02-17T13:36:49-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-10-01
ReturnHeader/TaxPeriodEndDt02024-09-30
ReturnHeader/TaxYr02023

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