PALM BEACH COUNTRY CLUB INC (EIN 590706084) - Form 990 Financial Analysis & Trantor Score

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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

1973

Legal Domicile

Principal Officer

ROBERT SCHLAGER

Phone

5618443501

Tax Period

2022-07-01 to 2023-06-30

PALM BEACH COUNTRY CLUB INC, founded in 1973, is a mid-sized nonprofit that reported $12.5M in total revenue in fiscal year 2022. Revenue decreased 9% compared to the prior year. Expenses of $18.9M exceeded revenue, resulting in a 51% operating deficit.

Mission

TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $12,986,459

Investment Income $-2,191,882

Other Revenue $1,686,886

TOTAL REVENUE $12,481,463

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,600,242

Fundraising Expenses $0

Other Expenses $10,284,568

TOTAL EXPENSES $18,884,810

Year-over-Year Comparison

	2022	2021	Change
Revenue	$12,481,463	$13,674,855	-0.1%
Expenses	$18,884,810	$19,292,056	0.0%
Net Income	$-6,403,347	$-5,617,201	+0.1%

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

173

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

$1,044,016

Total Directors

Key Employees

$713,984

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT SCHLAGER	PRESIDENT	1.00	Officer Director	$0	$0	$0
RICHARD ROTHSCHILD	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JOHN WALLERSTEIN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MICHAEL ROME	TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL MARGOLIS	SECRETARY	1.00	Officer Director	$0	$0	$0
DAVID BLUE	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD BORNSTEIN	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN FINE	DIRECTOR	1.00	Director	$0	$0	$0
TONY FROMER	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY B LANE	DIRECTOR	1.00	Director	$0	$0	$0
DAVID S MACK	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM MACK	DIRECTOR	1.00	Director	$0	$0	$0
DR ROBIN SMITH	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT SNYDER	DIRECTOR	1.00	Director	$0	$0	$0
VINCENT TESE	DIRECTOR	1.00	Director	$0	$0	$0
BENJAMIN WINTER	DIRECTOR	1.00	Director	$0	$0	$0
RONALD PASSAGGIO	GENERAL MANAGER	60.00	Officer	$514,342	$19,052	$533,394
RICHARD KELLEMS	CHIEF FINANCIAL OFFICER	60.00	Officer	$491,570	$19,052	$510,622
GEORGE KERVERN	GROUNDS SUPERINTENDENT	60.00	Key Emp	$355,586	$25,616	$381,202
EZEQUIEL LOPEZ	EXECUTIVE CHEF	60.00	Key Emp	$307,166	$25,616	$332,782
ADILSON SILVA	CLUBHOUSE MANAGER	60.00	Highest	$174,463	$19,052	$193,515
ZACHARY BRADY	GOLF PROFESSIONAL	60.00	Highest	$230,049	$8,005	$238,054
JOHN BEDNAR IV	GOLF PROFESSIONAL	50.00	Highest	$213,701	$7,225	$220,926
KIRBY KRAUTER	HEAD TENNIS PROFESSIONAL	60.00	Highest	$331,686	$8,005	$339,691
PAYTON MINEAR	GOLF PROFESSIONAL	50.00	Highest	$169,910	$4,670	$174,580

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	No data	No data	No data	No data
2023	$12,481,463	$18,884,810	$45,404,587	$-6,403,347
2022	$13,674,855	$19,292,056	$30,934,797	$-5,617,201
2021	$21,230,123	$17,752,722	$28,111,995	$3,477,401
2020	$16,587,834	$15,602,132	$25,153,034	$985,702
2019	$19,247,388	$17,235,480	$23,790,863	$2,011,908
2018	$13,394,283	$14,445,285	$24,422,567	$-1,051,002

PALM BEACH COUNTRY CLUB INC