Civic Intelligence

Cullasaja Club Inc

EIN 58-1734990 • 501(c)7 • Highlands, NC

Profile

The club offers its members full golf club facilities including golf, dining, and social activities, and generates revenues primarily through membership dues, restaurant sales, and golf fees.

1371 Cullasaja Club DriveHighlands, NC 28741

n/A

Siviq Scores

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

Liabilities / Assets

57th percentile

0.38x

Higher debt load relative to assets than 57% of similar nonprofits.

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

Liabilities / Revenue

75th percentile

1.04x

Higher debt load relative to revenue than 75% of similar nonprofits.

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

Net Margin

67th percentile

11%

Higher net margin than 67% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

65th percentile

8.5%

Faster asset growth than 65% of similar nonprofits.

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

Revenue Growth

48th percentile

7.3%

Faster revenue growth than 48% of similar nonprofits.

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

Assets

Up

$23,582,270

Up $1,853,473 (+8.5%) from 2023

Liabilities

Up

$9,017,097

Up $938,432 (+12%) from 2023

Net Assets

Up

$14,565,173

Up $915,041 (+6.7%) from 2023

Revenue

Up

$8,636,288

Up $586,741 (+7.3%) from 2023

Expenses

Up

$7,666,842

Up $484,013 (+6.7%) from 2023

Net Income

Up

$969,446

Up $102,728 (+12%) from 2023

Trend Graphs

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $12,915,468Liabilities 2010: $1,100,802Net Assets 2010: $11,814,6662010Assets 2011: $13,581,125Liabilities 2011: $541,656Net Assets 2011: $13,039,4692011Assets 2012: $14,523,412Liabilities 2012: $1,026,323Net Assets 2012: $13,497,0892012Assets 2013: $15,506,524Liabilities 2013: $1,729,518Net Assets 2013: $13,777,0062013Assets 2014: $15,145,029Liabilities 2014: $1,409,466Net Assets 2014: $13,735,5632014Assets 2015: $15,707,749Liabilities 2015: $2,081,822Net Assets 2015: $13,625,9272015Assets 2016: $15,194,119Liabilities 2016: $1,512,275Net Assets 2016: $13,681,8442016Assets 2017: $14,633,901Liabilities 2017: $1,157,407Net Assets 2017: $13,476,4942017Assets 2018: $15,009,246Liabilities 2018: $1,894,146Net Assets 2018: $13,115,1002018Assets 2019: $17,929,717Liabilities 2019: $6,664,681Net Assets 2019: $11,265,0362019Assets 2020: $16,823,929Liabilities 2020: $5,363,288Net Assets 2020: $11,460,6412020Assets 2021: $18,372,890Liabilities 2021: $6,245,306Net Assets 2021: $12,127,5842021Assets 2022: $21,788,541Liabilities 2022: $8,835,918Net Assets 2022: $12,952,6232022Assets 2023: $21,728,797Liabilities 2023: $8,078,665Net Assets 2023: $13,650,1322023Assets 2024: $23,582,270Liabilities 2024: $9,017,097Net Assets 2024: $14,565,1732024

Highlighted filing

2024

Assets$23,582,270
Liabilities$9,017,097
Net Assets$14,565,173

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $3,927,3782010Expenses 2011: $3,965,0472011Revenue 2012: $4,584,824Expenses 2012: $4,115,687Net Income 2012: $469,1372012Revenue 2013: $4,668,086Expenses 2013: $4,352,039Net Income 2013: $316,0472013Revenue 2014: $4,295,205Expenses 2014: $4,274,706Net Income 2014: $20,4992014Revenue 2015: $4,480,792Expenses 2015: $4,595,834Net Income 2015: -$115,0422015Revenue 2016: $4,899,584Expenses 2016: $4,619,780Net Income 2016: $279,8042016Revenue 2017: $4,876,843Expenses 2017: $4,772,392Net Income 2017: $104,4512017Revenue 2018: $4,668,013Expenses 2018: $4,793,620Net Income 2018: -$125,6072018Revenue 2019: $5,314,187Expenses 2019: $5,117,036Net Income 2019: $197,1512019Revenue 2020: $5,803,754Expenses 2020: $5,352,475Net Income 2020: $451,2792020Revenue 2021: $6,912,030Expenses 2021: $5,969,214Net Income 2021: $942,8162021Revenue 2022: $7,354,306Expenses 2022: $6,434,179Net Income 2022: $920,1272022Revenue 2023: $8,049,547Expenses 2023: $7,182,829Net Income 2023: $866,7182023Revenue 2024: $8,636,288Expenses 2024: $7,666,842Net Income 2024: $969,4462024

Highlighted filing

2024

Revenue$8,636,288
Expenses$7,666,842
Net Income$969,446

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$23.6$9.02$14.6$8.64$7.67$0.97
2023Detailed filing. Detailed filing data is available for this year.$21.7$8.08$13.7$8.05$7.18$0.87
2022Detailed filing. Detailed filing data is available for this year.$21.8$8.84$13.0$7.35$6.43$0.92
2021Detailed filing. Detailed filing data is available for this year.$18.4$6.25$12.1$6.91$5.97$0.94
2020Detailed filing. Detailed filing data is available for this year.$16.8$5.36$11.5$5.80$5.35$0.45
2019Detailed filing. Detailed filing data is available for this year.$17.9$6.66$11.3$5.31$5.12$0.20
2018Detailed filing. Detailed filing data is available for this year.$15.0$1.89$13.1$4.67$4.79$0.13
2017Detailed filing. Detailed filing data is available for this year.$14.6$1.16$13.5$4.88$4.77$0.10
2016Detailed filing. Detailed filing data is available for this year.$15.2$1.51$13.7$4.90$4.62$0.28
2015Detailed filing. Detailed filing data is available for this year.$15.7$2.08$13.6$4.48$4.60$0.12
2014Detailed filing. Detailed filing data is available for this year.$15.1$1.41$13.7$4.30$4.27$0.02
2013Detailed filing. Detailed filing data is available for this year.$15.5$1.73$13.8$4.67$4.35$0.32
2012Summary only. Only limited summary data is available for this year.$14.5$1.03$13.5$4.58$4.12$0.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.6$0.54$13.0$3.97
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.9$1.10$11.8$3.93
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.1
Gross Receipts
$9,852,715
Mission and Program Overview

Mission

The club offers its members full golf club facilities including golf, dining, and social activities, and generates revenues primarily through membership dues, restaurant sales, and golf fees.

GOLF/SOCIAL CLUB

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$19,345,585$20,664,703▲ $1,319,118
Cash and Non-Interest-Bearing Accounts$1,476,053$1,609,743▲ $133,690
Inventories for Sale or Use$310,120$334,328▲ $24,208
Accounts Receivable$41,651$161,104▲ $119,453
Prepaid Expenses and Deferred Charges$85,116$70,064▼ $15,052
Receivables From Officers Etc$13,646$2,573▼ $11,073
Receivable From Disqualified Prsn$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$21,728,797$23,582,270▲ $1,853,473
Other Assets Total$456,626$739,755▲ $283,129
Liabilities
Deferred Revenue$6,645,657$7,127,106▲ $481,449
Accounts Payable and Accrued Expenses$1,023,368$1,276,586▲ $253,218
Other Liabilities$409,640$613,405▲ $203,765
Total Liabilities$8,078,665$9,017,097▲ $938,432
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,650,132$14,565,173▲ $915,041
Total Net Assets Fund Balance$13,650,132$14,565,173▲ $915,041
Total Liabilities and Net Assets / Fund Balance$21,728,797$23,582,270▲ $1,853,473

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$17,478,840$1,338,838$18,817,678
Buildings$5,070,481$9,154,825$14,225,306
Leasehold Improvements$-1,337,659$7,485,028$6,147,369
Equipment$-690,141$3,234,604$2,544,463
Land$143,182-$81,899
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher ConnerGeneral Manager/COOFT$308,308$91,069$399,377
Tom NelsonGolf Course SuperintendentFT$138,550$62,475$201,025
Tim LamphierCFO/HR DirectorFT$137,753$61,585$199,338
Charles BeurmannHead Golf ProfessionalFT$116,373$72,592$188,965
Kenneth CraigExecutive ChefFT$138,788$43,393$182,181
Amy FineMembership DirectorFT$74,180$77,158$151,338

Board Members and Trustees

NameTitle
Bruce JohnsonPresident
Hugh WoltzenVice President
Alice QuinifDirector
Bruce Van FleetDirector
Jim MooreDirector
Lee MartinoDirector
Nancy HarrisonDirector
Lewis CollinsSecretary
Jacquie HarrisTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Landscapes UnlimitedGolf Course Construction1201 ARIES DR, Lincoln, NE 68512$1,375,833
Cullasaja Homeowners AssociationR&m, Landscaping, Construction1371 CULLASAJA CLUB DR, Highlands, NC 28741$635,567
Superior Golf Maintenance LLCContract Labor Services290 CLAUDE ISAACS RD, Elk Park, NC 28622$319,357
Chapman Coyle Chapman ArchitectureDesign & Artchitecture Services9040 ROSWELL RD STE 400, Atlanta, GA 30350$207,626
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,677,840
Investment Income
$123,392
Other Revenue
$835,056
Change in Net Assets
$969,446

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,636,288
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,262,315
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$9,898,603
Total Revenue per Form 990
$8,636,288
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,267,937
Salaries, Compensation, and Employee Benefits$3,398,905
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$2,254,124
Depreciation Depletion---$1,690,930
Office Expenses---$1,199,324
Current Officers, Directors, Trustees, and Key Employees---$598,713
Occupancy---$471,198
Fees for Services Other---$389,242
Payroll Taxes---$303,879
Other Employee Benefits---$215,037
Insurance---$116,929
Other Expenses---$98,040
Fees for Services Accounting---$53,979
Advertising---$38,684
Pension Plan Contributions---$27,152
Travel---$23,972
Fees for Services Legal---$4,156
Conferences and Meetings---$3,643
Interest---$48
Total Functional Expenses$0$0$0$7,666,842

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,883,269
Expenses per Audited Statements$7,666,842
Total Expenses per Form 990$7,666,842
Expenses Not Reported on Form 990$1,216,427
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$13,646$2,573▼ $11,073
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal Income Taxes$462,748
Due From Lake Association$141,735
Lease Liability$8,922
Deferred compensation plan liability-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 18

The form 990 is available upon request. In addition, recent years of the form 990 are available online at www.guidestar.org.

Form 990, Part VI, Line 1A Material differences in voting rights

The executive committee shall have four (4) members, including the president and vice president. If the secretary and treasurer are members of the board of governors, they shall serve on the executive committee. If the secretary and/or treasurer are not members of the board of governors, the board of governors shall appoint from among its members the remaining member(s) of the executive committee.

Form 990, Part VI, Line 6 Classes of members or stockholders

The organization is a 501(c)(7) organization that owns and operates a private country club for the recreation, pleasure and benefits of its members.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

Each membership of the organization is entitled to one vote. Voting rights include but are not limited to the annual election of the organization's governing body.

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

Members of the organization have voting rights that include approval of the decisions made by the organization's governing body including but not limited to changes to by-laws and capital assessments.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The Form 990 will be distributed to the Board prior to filing. A representative of FORVIS MAZARS will participate in the Board meeting in which the Board approves the 990. The FORVIS MAZARS representative will review the Form 990 with the Board and respond to any questions or comments from Board members regarding the return.

Form 990, Part VI, Line 12C Conflict of interest policy

All employees, board members, and committee chairs are required to complete a conflict of interest document annually. These documents are reviewed and signed by the secretary of the board or the general manager/coo of the club.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

Typically a salary survey is completed of all clubs in this area. The survey is used to ensure we are paying competitive wages, and is reviewed by the Compensation & Benefits Committee. A salary or wage increase pool percentage is established by the Finance Committee and Compensation & Benefits Committee. Salary increases are approved by the Board, General Manager/COO, or Department Supervisors as long as the total does not exceed the established pool.

Form 990, Part VI, Line 19 Required documents available to the public

The organization's by-laws are distributed to club members when invited for membership by the board of governors and are also available to the public upon request. Monthly internal financial statements are available to club members upon request. The organization's audited financial statements and conflict of interest policy are available to the public upon request. The organization makes its form 990 available upon request. Additionally, recent filings of the form can be found on guidestar.org.

Filing and Contact Details

Filer

Filer Name
Cullasaja Club Inc
EIN
58-1734990
Phone
8285263531
Address
1371 CULLASAJA CLUB DRIVE, Highlands, NC 28741

Signing Officer

Name
Bruce Johnson
Title
President
Phone
8285263531
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
1987
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
84
Volunteers
75

Preparer

Firm
Forvis Mazars LLP
Address
500 Ridgefield Court, Asheville, NC 28806
Preparer
Amy Bibby
Phone
8282542254
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Net Membership Redemp & Admiss - -79993; Change in Capital Assessments - -20300; Total - -100293;

Form 990, Part XII, Line 2C Change of oversight process or selection process

The process has not changed from the prior year.

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The Club is exempt from federal and state income taxes under the Internal Revenue Code, Section 501(c)(7), except for unrelated business income subject to federal and state income tax. The Club had interest and rental income subject to income taxes resulting in income tax expense of approximately $16,417 and $5,000 for the years ended December 31, 2024 and 2023, respectively. The Club accounts for uncertain tax positions in accordance with the accounting principles generally accepted in the United States of America, under which liabilities for uncertain positions are recognized in the consolidated financial statements when it becomes probable a liability has been incurred and the amount is reasonably estimated.

Schedule D, Part XI, Line 2(D) Other revenues in audited financial statements not in form 990

Cost of goods sold - 1013069 rental expenses - 203358

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

Cost of goods sold - 1013069 rental expenses - 203358

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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/Form990PartVIISectionAGrp/PersonNm0Bruce Johnson
IRS990/Form990PartVIISectionAGrp/PersonNm1Hugh Woltzen
IRS990/Form990PartVIISectionAGrp/PersonNm2Jacquie Harris
IRS990/Form990PartVIISectionAGrp/PersonNm3Lewis Collins
IRS990/Form990PartVIISectionAGrp/PersonNm4Alice Quinif
IRS990/Form990PartVIISectionAGrp/PersonNm5Bruce Van Fleet
IRS990/Form990PartVIISectionAGrp/PersonNm6Jim Moore
IRS990/Form990PartVIISectionAGrp/PersonNm7Lee Martino
IRS990/Form990PartVIISectionAGrp/PersonNm8Nancy Harrison
IRS990/Form990PartVIISectionAGrp/PersonNm9Christopher Conner
IRS990/Form990PartVIISectionAGrp/PersonNm10Tim Lamphier
IRS990/Form990PartVIISectionAGrp/PersonNm11Amy Fine
IRS990/Form990PartVIISectionAGrp/PersonNm12Charles Beurmann
IRS990/Form990PartVIISectionAGrp/PersonNm13Kenneth Craig
IRS990/Form990PartVIISectionAGrp/PersonNm14Tom Nelson
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