ESSEX COUNTY CLUB

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1893

Legal Domicile

Principal Officer

ALEXANDER GLOVSKY

Phone

9785267041

Tax Period

2024-01-01 to 2024-12-31

ESSEX COUNTY CLUB, founded in 1893, is a mid-sized nonprofit that reported $10.6M in total revenue in fiscal year 2024. Expenses of $10.3M left a modest 3% surplus.

Mission

ESSEX COUNTY CLUB (THE "CLUB") IS A PRIVATE COUNTRY CLUB WHICH HAS RECREATIONAL PROGRAMS INCLUDING GOLF, TENNIS, PADDLE TENNIS, AS WELL AS A FULL SERVICE RESTAURANT, BAR, & FUNCTION FACILITIES.

Program Service Accomplishments

Program 1

TAX EXEMPT CLUB ACTIVITIES

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $7,199,467

Investment Income $84,527

Other Revenue $3,297,106

TOTAL REVENUE $10,581,100

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,846,458

Fundraising Expenses $0

Other Expenses $4,406,921

TOTAL EXPENSES $10,253,379

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,581,100	$9,995,874	+0.1%
Expenses	$10,253,379	$9,596,363	+0.1%
Net Income	$327,721	$399,511	-0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

177

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

$716,423

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALEXANDER GLOVSKY	PRESIDENT	2.00	Officer Director	$0	$0	$0
STEPHEN J PRINN	TREASURER	2.00	Officer Director	$0	$0	$0
STACEY SPINGLER	SECRETARY	2.00	Officer Director	$0	$0	$0
JAMES B HARRIS	GOVERNOR	2.00	Director	$0	$0	$0
RANDOLPH B WOOD	GOVERNOR	2.00	Director	$0	$0	$0
DIANE C KANEB	GOVERNOR	2.00	Director	$0	$0	$0
CAROLYN CAMPOT	GOVERNOR	2.00	Director	$0	$0	$0
GRETCHEN FORSYTH	GOVERNOR	2.00	Director	$0	$0	$0
LAUREN HARRISON	GOVERNOR	2.00	Director	$0	$0	$0
CHRISTOPHER KINCH	GOVERNOR	2.00	Director	$0	$0	$0
TIMOTHY M LYNE	GOVERNOR	2.00	Director	$0	$0	$0
FRANCIS KELLY III	GOVERNOR	2.00	Director	$0	$0	$0
LAUREN HERTER	GOVERNOR	2.00	Director	$0	$0	$0
ERIC RICHARDSON	DIRECTOR OF GROUNDS	50.00	Key Emp	$348,410	$37,764	$386,174
GEORGE LADD	CLUB MANAGER	50.00	Key Emp	$294,551	$35,698	$330,249
GABRIEL CHEUNG	EXECUTIVE CHEF	50.00	Highest	$181,402	$29,698	$211,100
JACK DAVIS	HEAD GOLF PROFESSIONAL	50.00	Highest	$178,397	$22,386	$200,783
VINICIUS SILVA	DIRECTOR OF RACQUETS	50.00	Highest	$317,188	$19,545	$336,733
MARIANNE CACCIOLA	CONTROLLER	50.00	Highest	$130,526	$26,128	$156,654

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$10,581,100	$10,253,379	$15,711,192	$327,721
2023	$9,995,874	$9,596,363	$15,701,995	$399,511
2022	$9,139,228	$8,855,212	$14,520,124	$284,016
2021	$8,722,942	$7,890,606	$14,120,827	$832,336
2020	$7,402,756	$6,726,092	$12,702,867	$676,664
2019	$7,005,416	$7,174,887	$12,225,627	$-169,471