CW OPERATING COMPANY INC DBA THE C… - 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

2015

Legal Domicile

Principal Officer

LYNDELL E MADDOX

Phone

2818635800

Tax Period

2023-09-01 to 2024-08-31

CW OPERATING COMPANY INC DBA THE CLUB AT CARLTON WOODS, founded in 2015, is a mid-sized nonprofit in the Recreation & Sports sector that reported $25.2M in total revenue in fiscal year 2023. The organization ran a surplus of $4.3M, a strong 17% operating margin.

Mission

THE CLUB AT CARLTON WOODS IS A PRIVATE MEMBER OWNED GOLF, TENNIS, ATHLETIC, DINING AND SOCIAL CLUB FOR THE PLEASURE AND RECREATION OF ITS MEMBERS. THE CLUB'S EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF MEMBERS BY PROVIDING DINING/RECREATIONAL ACTIVITIES.

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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $17,437,833

Investment Income $254,563

Other Revenue $7,509,189

TOTAL REVENUE $25,201,585

Expense Breakdown

Grants Paid $0

Salaries & Benefits $13,075,908

Fundraising Expenses $0

Other Expenses $7,802,086

TOTAL EXPENSES $20,877,994

Year-over-Year Comparison

	2023	2022	Change
Revenue	$25,201,585	$24,641,353	+0.0%
Expenses	$20,877,994	$21,162,739	0.0%
Net Income	$4,323,591	$3,478,614	+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

300

Volunteers

311

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

$559,575

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LYNDELL E MADDOX	PRESIDENT	2.00	Officer Director	$0	$0	$0
JASON FRAZER	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
KENT WILLETTS	TREASURER	2.00	Officer Director	$0	$0	$0
BECKY BAYLESS DE JOYBERT	SECRETARY	2.00	Officer Director	$0	$0	$0
JONATHAN HITCHCOCK	DIRECTOR	2.00	Director	$0	$0	$0
JASON PALMENBERG	DIRECTOR	2.00	Director	$0	$0	$0
BRIAN PETRAUSKAS	DIRECTOR	2.00	Director	$0	$0	$0
BLAKE POUNDS	DIRECTOR	2.00	Director	$0	$0	$0
DOUG SOFTY	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT MARLING	REM REPRESENTATIVE	2.00	Director	$0	$0	$0
JOSEPH SUTTON	REM REPRESENTATIVE	2.00	Director	$0	$0	$0
STEVE SALZMAN	CHIEF OPERATING OFFICER/GM	60.00	Officer	$529,389	$30,186	$559,575
CARY LOTHRINGER	DIRECTOR OF TENNIS & FITNESS	60.00	Highest	$200,515	$26,267	$226,782
TIM HUBER	DIRECTOR OF ARGONOMY	60.00	Highest	$197,500	$25,330	$222,830
EMILE ASOUS	DIRECTOR OF GOLF	60.00	Highest	$156,672	$23,146	$179,818
MARIA MCGINITY	DIRECTOR OF OPERATIONS	60.00	Highest	$145,508	$20,498	$166,006
ALEYA DAVIS	MEMBERSHIP DIRECTOR	60.00	Highest	$124,917	$11,357	$136,274

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	No data	No data	No data	No data
2024	$25,201,585	$20,877,994	$54,228,741	$4,323,591
2023	$24,641,353	$21,162,739	$47,304,277	$3,478,614
2022	$21,631,805	$19,289,912	$38,158,640	$2,341,893
2021	$20,678,239	$16,348,057	$35,688,745	$4,330,182
2020	$15,701,949	$14,265,537	$31,076,179	$1,436,412
2019	$14,779,154	$15,773,026	$31,482,585	$-993,872
2018	$14,509,062	$14,528,578	$31,761,007	$-19,516

CW OPERATING COMPANY INC DBA THE CLUB AT CARLTON WOODS