Civic Intelligence

Golf & Racquet Club at Eastpointe Inc

EIN 59-2099742 • 501(c)7 • Palm Beach Gardens, FL

Profile

Golfing, playing tennis, and socializing at the clubhouse are the means by which the club accomplishes its tax exempt purpose, which is to bind its members together.

13535 Eastpointe BlvdPalm Beach Gardens, FL 33418

none

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2016

Liabilities / Revenue

59th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)7 • <$500k nonprofits • Source year 2016

Net Margin

5th percentile

-76%

Higher net margin than 5% of similar nonprofits.

501(c)7 • <$500k nonprofits • Source year 2016

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 2016

Asset Growth

5th percentile

-100%

Faster asset growth than 5% of similar nonprofits.

501(c)7 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

3rd percentile

-93%

Faster revenue growth than 3% of similar nonprofits.

501(c)7 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Down

$0

Down $4,750,347 (-100%) from 2015

Liabilities

Down

$0

Down $2,267,652 (-100%) from 2015

Net Assets

Down

$0

Down $2,482,695 (-100%) from 2015

Revenue

Down

$183,955

Down $2,427,043 (-93%) from 2015

Expenses

Down

$323,892

Down $2,814,125 (-90%) from 2015

Net Income

Up

-$139,937

Up $387,082 (+73%) from 2015

Trend Graphs

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $5,434,041Liabilities 2011: $1,407,171Net Assets 2011: $4,026,8702011Assets 2012: $5,113,313Liabilities 2012: $1,348,916Net Assets 2012: $3,764,3972012Assets 2013: $5,275,010Liabilities 2013: $1,793,461Net Assets 2013: $3,481,5492013Assets 2014: $4,761,997Liabilities 2014: $1,752,283Net Assets 2014: $3,009,7142014Assets 2015: $4,750,347Liabilities 2015: $2,267,652Net Assets 2015: $2,482,6952015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2016

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $3,215,710Expenses 2011: $3,433,240Net Income 2011: -$217,5302011Expenses 2012: $3,408,5522012Revenue 2013: $2,903,726Expenses 2013: $3,186,574Net Income 2013: -$282,8482013Revenue 2014: $2,970,975Expenses 2014: $3,442,810Net Income 2014: -$471,8352014Revenue 2015: $2,610,998Expenses 2015: $3,138,017Net Income 2015: -$527,0192015Revenue 2016: $183,955Expenses 2016: $323,892Net Income 2016: -$139,9372016

Highlighted filing

2016

Revenue$183,955
Expenses$323,892
Net Income-$139,937

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to Sep 30, 2016
Signed
Jul 21, 2017
Return Version
2015v3.0
Gross Receipts
$231,194
Mission and Program Overview

Mission

Golfing, playing tennis, and socializing at the clubhouse are the means by which the club accomplishes its tax exempt purpose, which is to bind its members together.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,027,578$0▼ $4,027,578
Rtn Earn Endowment Incm Other Fnds$2,482,695$0▼ $2,482,695
Cash and Non-Interest-Bearing Accounts$528,545$0▼ $528,545
Accounts Receivable$110,726$0▼ $110,726
Inventories for Sale or Use$47,239$0▼ $47,239
Prepaid Expenses and Deferred Charges$36,259$0▼ $36,259
Loans From Officers Directors$14,517$0▼ $14,517
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Total Assets$4,750,347$0▼ $4,750,347
Other Assets Total$0$0→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$902,357$0▼ $902,357
Deferred Revenue$647,757$0▼ $647,757
Unsecured Notes Loans Payable$299,359$0▼ $299,359
Accounts Payable and Accrued Expenses$244,307$0▼ $244,307
Other Liabilities$159,355$0▼ $159,355
Grants Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$2,267,652$0▼ $2,267,652
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,482,695$0▼ $2,482,695
Total Liabilities and Net Assets / Fund Balance$4,750,347$0▼ $4,750,347
Compensation and Service Providers

Board Members and Trustees

NameTitle
Donald IannazziPresident
Ruth SchifferVice President
Anthony DebellisDirector
Barry PearlsteinDirector
Irving TaubeDirector
John GilbertDirector
Tim LyonsDirector
Michael SchwartzSecretary
Murry AbramowitzTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$159,649
Investment Income
$0
Other Revenue
$24,306
Change in Net Assets
$-139,937
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$247,130
Salaries, Compensation, and Employee Benefits$76,762
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy---$70,027
Other Salaries and Wages---$62,652
Depreciation Depletion---$35,432
Insurance---$20,523
All Other Expenses---$14,934
Office Expenses---$10,186
Other Employee Benefits---$7,728
Payroll Taxes---$6,382
Interest---$6,061
Fees for Services Other---$5,785
Other Expenses---$5,156
Advertising---$3,005
Fees for Services Accounting---$2,000
Information Technology---$683
Travel---$119
Total Functional Expenses$0$0$0$323,892
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
Loans from Officers, Directors, Trustees, and Key Employees$14,517$0▼ $14,517
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes
Filing and Contact Details

Filer

Filer Name
Golf & Racquet Club at Eastpointe Inc
EIN
59-2099742
In Care Of
% MATT WILSON
Phone
5616270268
Address
13535 EASTPOINTE BLVD, PALM BEACH GARDENS, FL 33418

Signing Officer

Name
Kevin Gai
Title
Club President
Phone
5616270268
Signed
2017-07-21

Organization Details

Principal Officer
Kevin Gai
Formed
1987
Legal Domicile
Fl
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
Marcum Llp
Address
ONE SE THIRD AVENUE SUITE 1100, MIAMI, FL 33131
Preparer
Shaun Blogg
Phone
3059959600
Supplemental Narrative

Additional Explanations

Review of 990

The organization's board of directors review the form 990 at a scheduled board meeting.

Governing Documetns

The board makes its governing documents and financial statements available to the public upon request.

Members

The organization has members who may elect the members of the governing body, who may approve significant decisions of the governing body, and who are not considered governing body members. The following memberships have the rights stated above: Full Equity Golf Membership Non-Equity Full Golf Membership Golf Single/Social Family Membership Sports Membership Social Membership

Form 990, Part XI, Line 9

On November 1, 2015, Golf & Racquet Club at Eastpointe, Inc. merged with Eastpointe Country club, Inc ("surviving corporation")(EIN: 59-1839098). Eastpointe Country Club, Inc. acquired all of the assets and assumed all of the liabilities of Golf & Racquet Club at Eastpointe, Inc.

Golf & Racquet Club Merger 11/1/2015

Eastpointe Country Club, Inc. recorded the combination as a merger of the two clubs. As such, the transaction was accounted for using the carry over method in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") topic 958-805, for-Profit Entities - Business Combinations", which requires combining the assets and liabilities recognized in the separate financial statements of the merging entities as of the merger date. The net assets of Golf & Racquet Club at Eastpointe, INc. as of the date of merger was $2,342,758, consisting of total assets of $ 4,581,043 reported on Schedule N of Form 990, less total liabilities of $ 2,238,285 at the date of the merger.

Statement Regarding IRS Filings & Tax Compliance

Billy casper golf llc was hired to provide general operational management services for the club and as such was responsible for all employees and related employement tax return filings.

Raw XML AppendixShowing 400 of 468 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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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0CASH AND CASH EQUIVALENTS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1MEMBER RECEIVABLES, NET
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2INVENTORIES
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3PREPAID EXPENSES AND OTHER ASSETS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc4PROPERTY & EQUIPMENT, NET
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02015-11-01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12015-11-01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt22015-11-01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt32015-11-01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt42015-11-01
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt195671
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt214563
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt315110
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt43992146
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(c)(7)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt1501(c)(7)
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0COST
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt1BOOK VALUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt2Actual Cost
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt3Actual Cost
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt4NET BOOK VALUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm0Eastpointe Country Club Inc
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm1Eastpointe Country Club Inc
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm2Eastpointe Country Club Inc
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm3Eastpointe Country Club Inc
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm4Eastpointe Country Club Inc
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt013535 Eastpointe Blvd
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt113535 Eastpointe Blvd
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt213535 Eastpointe Blvd
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt313535 Eastpointe Blvd
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt413535 Eastpointe Blvd
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0Palm Beach Gardens
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm1Palm Beach Gardens
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm2Palm Beach Gardens
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm3Palm Beach Gardens
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm4Palm Beach Gardens
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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0FOR INFORMATION ON THE MERGER, PLEASE REFER TO SCHEDULE O. IN ADDITION, PLEASE SEE ATTACHED ARTICLES OF MERGER FILED ON OCTOBER 30, 2015 WITH THE STATE OF FLORIDA.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0GOLF & RACQUET CLUB MERGER
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S BOARD OF DIRECTORS REVIEW THE FORM 990 AT A SCHEDULED BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization has members who may elect the members of the governing body, who may approve significant decisions of the governing body, and who are not considered governing body members. The following memberships have the rights stated above: Full Equity Golf Membership Non-Equity Full Golf Membership Golf Single/Social Family Membership Sports Membership Social Membership
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3On November 1, 2015, Golf & Racquet Club at Eastpointe, Inc. merged with Eastpointe Country club, Inc ("surviving corporation")(EIN: 59-1839098). Eastpointe Country Club, Inc. acquired all of the assets and assumed all of the liabilities of Golf & Racquet Club at Eastpointe, Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Eastpointe Country Club, Inc. recorded the combination as a merger of the two clubs. As such, the transaction was accounted for using the carry over method in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") topic 958-805, for-Profit Entities - Business Combinations", which requires combining the assets and liabilities recognized in the separate financial statements of the merging entities as of the merger date. The net assets of Golf & Racquet Club at Eastpointe, INc. as of the date of merger was $2,342,758, consisting of total assets of $ 4,581,043 reported on Schedule N of Form 990, less total liabilities of $ 2,238,285 at the date of the merger.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BILLY CASPER GOLF LLC WAS HIRED TO PROVIDE GENERAL OPERATIONAL MANAGEMENT SERVICES FOR THE CLUB AND AS SUCH WAS RESPONSIBLE FOR ALL EMPLOYEES AND RELATED EMPLOYEMENT TAX RETURN FILINGS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0REVIEW OF 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1GOVERNING DOCUMETNS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XI, Line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Golf & Racquet Club Merger 11/1/2015
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5STATEMENT REGARDING IRS FILINGS & TAX COMPLIANCE
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