TOWERS COUNTRY CLUB INC C/O NORTH … - Form 990 Financial Data

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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

1976

Legal Domicile

Principal Officer

MARTIN SCHWARTZMAN

Phone

7184233335

Tax Period

2023-03-01 to 2024-02-29

TOWERS COUNTRY CLUB INC C/O NORTH SHORE TOWERS MANAGEMENT, founded in 1976, is a community nonprofit that reported $3.4M in total revenue in fiscal year 2023. Revenue decreased 20% compared to the prior year.

Mission

THE ORGANIZATION OPERATES A PRIVATE COUNTRY CLUB AND GOLF COURSE EXCLUSIVELY FOR THE PLEASURE AND RECREATION OF ITS MEMBERS, THEIR FAMILIES AND GUESTS ON BEHALF OF NORTH SHORE TOWERS APARTMENTS, INC.

Program Service Accomplishments

Program 1

THE TOWERS COUNTRY CLUB FEATURES AN 18-HOLE, 5,751-YARD, PAR-70 GOLF COURSE KNOWN FOR ITS ROLLING TERRAIN, TREE LINED FAIRWAYS, AND MANICURED GREENS. THE CLUB BOASTS A ROBUST SCHEDULE OF SOCIAL...

THE TOWERS COUNTRY CLUB FEATURES AN 18-HOLE, 5,751-YARD, PAR-70 GOLF COURSE KNOWN FOR ITS ROLLING TERRAIN, TREE LINED FAIRWAYS, AND MANICURED GREENS. THE CLUB BOASTS A ROBUST SCHEDULE OF SOCIAL ACTIVITIES AND THE FRIENDLY COMPETITION OF TOURNAMENTS FOR MEMBERS AND THEIR GUESTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,360,170

Investment Income $35,720

Other Revenue $1,005

TOTAL REVENUE $3,396,895

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,839,946

Fundraising Expenses $0

Other Expenses $1,883,088

TOTAL EXPENSES $3,723,034

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,396,895	$4,227,708	-0.2%
Expenses	$3,723,034	$3,481,998	+0.1%
Net Income	$-326,139	$745,710	-1.4%

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

Volunteers

N/A

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
COCO XIE	CLUB MANAGER	40.00	Highest	$123,355	$0	$123,355
MARTIN SCHWARTZMAN	PRESIDENT	1.00	Director	$0	$0	$0
STUART BERLAND	TREASURER	1.00	Director	$0	$0	$0
CHERYL VOLLWEILER	SECRETARY	1.00	Director	$0	$0	$0
THERESA OROPALLO	1ST VICE PRE	1.00	Director	$0	$0	$0
ED PHELAN	VICE PRESIDE	1.00	Director	$0	$0	$0
JAMES SHORT	VICE PRESIDE	1.00	Director	$0	$0	$0
BARRY BERMAN	VICE PRESIDE	1.00	Director	$0	$0	$0
JEFF CANARICK	VICE PRESIDE	1.00	Director	$0	$0	$0
HARRY GREENBERG	VICE PRESIDE	1.00	Director	$0	$0	$0

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	$4,670,533	$5,420,853	$6,855,553	$-750,320
2024	$3,396,895	$3,723,034	$5,388,751	$-326,139
2023	$4,227,708	$3,481,998	$5,688,638	$745,710
2022	$3,774,913	$3,274,560	$4,943,483	$500,353
2021	$2,699,434	$2,812,031	$4,399,989	$-112,597
2020	$3,684,241	$3,611,534	$4,558,321	$72,707
2019	$3,428,832	$3,477,500	$4,462,474	$-48,668
2018	$3,520,136	$3,290,938	$4,491,507	$229,198

TOWERS COUNTRY CLUB INC C/O NORTH SHORE TOWERS MANAGEMENT