CANTERBURY GOLF CLUB INC

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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

1921

Legal Domicile

Principal Officer

FRANK DEFINO

Phone

2165611000

Tax Period

2024-04-01 to 2025-03-31

CANTERBURY GOLF CLUB INC, founded in 1921, is a community nonprofit that reported $9.0M in total revenue in fiscal year 2024.

Mission

PROVISION OF SOCIAL AND RECREATIONAL ACTIVITIES FOR ITS MEMBERS.

Program Service Accomplishments

Program 1

CANTERBURY GOLF COURSE, DESIGNED BY HERBERT STRONG, IS NATIONALLY RECOGNIZED AS ONE OF THE 50 FOREMOST GOLF COURSES IN THE UNITED STATES AND ONE OF THE FINEST COURSES IN OHIO. NOW OVER 100 YEARS OLD, CANTERBURY SERVES OVER 400 MEMBERS WITH ITS CHAMPIONSHIP COURSE, ELEGANT CLUBHOUSE, POOL, PLATFORM TENNIS, AND OTHER AMENITIES. CANTERBURY GOLF CLUB IS THE SECOND U.S. CLUB TO HOST ALL FIVE MEN'S ROTATING MAJOR CHAMPIONSHIPS: THE PGA CHAMPIONSHIP, THE SENIOR PGA CHAMPIONSHIP, THE U.S. OPEN, THE SENIOR U.S. OPEN, AND THE U.S. AMATEUR.

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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 $8,684,344

Investment Income $25,722

Other Revenue $282,198

TOTAL REVENUE $8,992,264

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,726,377

Fundraising Expenses $0

Other Expenses $4,137,316

TOTAL EXPENSES $8,863,693

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,992,264	$8,427,427	+0.1%
Expenses	$8,863,693	$8,636,385	+0.0%
Net Income	$128,571	$-208,958	-1.6%

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

265

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

$497,465

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANK DEFINO	PRESIDENT	4.00	Officer Director	$0	$0	$0
TIM MCCORMICK	VICE PRESIDENT / SECRETARY	4.00	Officer Director	$0	$0	$0
JIM KEENE	TREASURER / FINANCE LIASON	4.00	Officer Director	$0	$0	$0
BEAU HOLLOWELL	ASSISTANT SECRETARY / RECO	4.00	Officer Director	$0	$0	$0
KAREN GILMORE	MEMBERSHIP LIAISON	0.50	Director	$0	$0	$0
TJ MONICO	GREEN COMMITTEE LIAISON	0.50	Director	$0	$0	$0
STEVE CIUNI	HOUSE COMMITTEE LIAISON	0.50	Director	$0	$0	$0
JAMIE KEARNEY	CONTROLLER	40.00	Officer	$116,638	$3,219	$119,857
MICHAEL LUKEGORD	GENERAL MANAGER	40.00	Officer	$368,008	$9,600	$377,608
JASON CARBONE	HEAD GOLF PROFESSIONAL	40.00	Highest	$181,663	$0	$181,663
MIKE LOPRESTI	HEAD GREENS SUPERINTENDENT	40.00	Highest	$196,115	$40,666	$236,781

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
2025	$8,992,264	$8,863,693	$13,142,123	$128,571
2024	$8,427,427	$8,636,385	$3,325,367	$-208,958
2023	$8,496,340	$7,984,457	$3,578,560	$511,883
2022	$7,225,906	$8,707,547	$2,846,772	$-1,481,641
2021	$7,083,648	$6,360,151	$2,595,688	$723,497
2020	$5,399,424	$5,152,892	$1,442,961	$246,532
2019	$5,126,696	$4,964,602	$1,502,916	$162,094