ISLAND COUNTRY 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

1986

Legal Domicile

Principal Officer

KENNETH BAER

Phone

2393946661

Tax Period

2024-06-01 to 2025-05-31

ISLAND COUNTRY CLUB INC, founded in 1986, is a mid-sized nonprofit that reported $13.6M in total revenue in fiscal year 2024. Expenses of $17.2M exceeded revenue, resulting in a 26% operating deficit.

Mission

THE ISLAND COUNTRY CLUB, INC. IS A SOCIAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES.

Program Service Accomplishments

Program 1

THE CLUB HAS ONE 18 HOLE GOLF COURSE. TOTAL ROUNDS OF GOLF PLAYED FOR THE FISCAL YEAR ENDED 05/31/2025 WAS APPROXIMATELY 31,267 OF WHICH APPROXIMATELY 1,092 WERE NON- MEMBER ROUNDS ( GUESTS).

Program 2

TOTAL FOOD AND BEVERAGE REVENUE FOR THE YEAR ENDED 05/31/2025 WAS $2,711,396, OF WHICH $434,704 WAS NON-MEMBER RELATED.

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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 $11,614,215

Investment Income $373,396

Other Revenue $1,635,629

TOTAL REVENUE $13,623,240

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,251,451

Fundraising Expenses $0

Other Expenses $8,960,955

TOTAL EXPENSES $17,212,406

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,623,240	$13,317,557	+0.0%
Expenses	$17,212,406	$16,769,379	+0.0%
Net Income	$-3,589,166	$-3,451,822	+0.0%

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

180

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

$898,166

Total Directors

Key Employees

$243,779

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HARRY RUBASH	VICE-PRESIDENT - THROUGH 3/6/25	5.00	Officer Director	$0	$0	$0
GERARD SHANNON	PRESIDENT - THROUGH 3/6/25	10.00	Officer Director	$0	$0	$0
KENNETH R MEYERS	TREASURER	5.00	Officer Director	$0	$0	$0
KENNETH BAER	PRESIDENT	10.00	Officer Director	$0	$0	$0
WALTER NUGENT	SECRETARY	5.00	Officer Director	$0	$0	$0
GARY ALLMAIER	VICE-PRESIDENT	5.00	Officer Director	$0	$0	$0
DONNA GLANZMAN	SECRETARY - THROUGH 3/6/25	5.00	Officer Director	$0	$0	$0
MICHAEL HOWARD	DIRECTOR	1.00	Director	$0	$0	$0
PETER DONAGHY	DIRECTOR	1.00	Director	$0	$0	$0
LOUIS IMBROGNO	DIRECTOR	1.00	Director	$0	$0	$0
DAVID GOLDSTEIN	DIRECTOR	1.00	Director	$0	$0	$0
STEVE RAKOCZY	DIRECTOR	1.00	Director	$0	$0	$0
NICHOLAS VON HOFEN	COO	40.00	Officer	$438,144	$50,547	$488,691
JOSEPH HERBSTREITH	DIRECTOR OF GOLF	40.00	Officer	$116,627	$23,003	$139,630
ANN MARIE MEGENIS	CFO	40.00	Officer	$249,869	$19,976	$269,845
MICHAEL SLACK	GOLF COURSE SUPERINTENDENT	40.00	Key Emp	$200,014	$43,765	$243,779
HEATHER HALL	MEMBERSHIP DIRECTOR	40.00	Highest	$181,339	$15,117	$196,456
KEITH DUERR	CLUBHOUSE MANAGER	40.00	Highest	$149,353	$30,018	$179,371
JAMES BUSBY	DIRECTOR OF TENNIS	40.00	Highest	$113,307	$37,700	$151,007
CHRISTINA LANE	WELLNESS DIRECTOR	40.00	Highest	$165,462	$19,073	$184,535

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	$13,623,240	$17,212,406	$43,997,217	$-3,589,166
2024	$13,317,557	$16,769,379	$45,290,542	$-3,451,822
2023	$12,263,141	$14,391,833	$44,999,615	$-2,128,692
2022	$8,944,670	$10,461,166	$38,889,615	$-1,516,496
2021	$7,786,483	$9,229,719	$29,196,293	$-1,443,236
2020	$7,790,601	$8,976,758	$24,968,608	$-1,186,157
2019	$8,843,964	$9,134,009	$22,550,135	$-290,045
2018	$7,983,464	$8,607,113	$23,756,925	$-623,649